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Instructions State of New Jersey
| Instructions |
| The data you submit in this State-Supplied Price Sheet will be used to analyze fees and expenses proposed by your firm for the State of New Jersey plans listed below; please complete all green highlighted tabs. |
| - NJ State Employees Deferred Compensation Plan (NJSEDCP), a 457(b) plan |
| - NJ Defined Contribution Retirement Program (NJDCRP), a 401(a) plan |
We request you enter the information in the requested format and do not add additional rows or columns.
| Complete the green highlighted tabs. Input cells are highlighted in yellow in columns B, C, and D. Additional information and/or instructions are offered in red text. |
| Please Note: If a fee or service is not applicable, add "N/A" to each price line in the applicable column (B, C, and/or D). Any price lines that do not include a response, will be considered as an "Incomplete Fee quote" and may result in the Quote being deemed non-responsive. |
| Tab - Plan Fees |
| Provide your proposed pricing in the yellow highlighted cells of Column B and if applicable, complete Column C and D. |
If there are other fees that would be imposed on either plan, please be sure to include it at the bottom under "Other Fees."
LFB_05
Pricing Instructions Pricing Instructions
| State of New Jersey |
| NJ Defined Contribution Retirement Program (NJDCRP), a 401(a) plan |
| NJ State Employees Deferred Compensation Plan (NJSEDCP), a 457(b) plan |
| Please Note: If a fee or service is not applicable, add "N/A" to each price line in the applicable column (B, C, and/or D). Any price lines that do not include a response, will be considered as an "Incomplete Fee quote" and may result in the Quote being deemed non-responsive. |
| COST PROPOSAL / FEE QUESTIONNAIRE |
| This tab asks bidders to provide the information that comprises their complete cost proposal for the services under Bid Solicitation #24DPP01010. The cost proposal must be submitted in accordance with the instructions in Bid Solicitation Section 3.26 State-Supplied Price Sheet Instructions and each tab of this State-Supplied Price Sheet. |
| Bidder Pricing Instructions: |
| - Quoted fee shall be a fixed flat dollar rate per participant fee for each Plan. |
| - Quoted fee shall be based on individual account balance for each plan, (i.e., quote a separate dollar per participant fee for each plan). |
| - Revenue sharing shall be rebated to participants in funds generating the revenue sharing. |
| - Include one (1) full-time On-Site Service Representative and ten (10) dedicated full-time Field Service Representatives in your pricing quote. |
| - During the term of this Contract the Contractor may be asked to perform additional work directly related to this Bid Solicitation. An All-Inclusive Hourly Rate (i.e., one hourly rate regardless of the type of project work) shall be submitted for these services under “Other Fees” for special project work for each Plan on the State-Supplied Price Sheet. |
| Pricing Approach: |
| 1. A gross, hard-dollar per-participant fee is required, including all costs associated with implementation, conversion, administration, recordkeeping, education and trustee expenses. A separate gross dollar per-participant fee must be provided for each plan, respectively. Pricing is to be provided on an open architecture basis, assuming no proprietary funds. |
| 2. The lowest-cost share classes of investments are to be used and all revenue sharing generated from investments shall be credited to the plan and/or participants as directed by the State of NJ. Revenue sharing shall be rebated to participants. |
| 3. Participant transaction fees (e.g., loans, distributions) should be specifically identified. |
| Fees and Pricing: |
| The base term for this contract is five (5) years. All fees quoted shall be guaranteed for the full duration of the base term of the Contract (Contract Year One through Five). |
| This contract may be extended up to two (2) years with no single extension exceeding one(1) year. |
The Bidder shall list all proposed fees that will be collected from participants and participant assets either directly or indirectly by either the Bidder or any third-party. Fees, charges, or costs that are not stated in the State-Supplied Price Sheet will not be authorized.
Fees - 457(b)Plan
| Plan Fees |
| NJ State Employees Deferred Compensation Plan (NJSEDCP), a 457(b) plan |
| Please complete the yellow highlighted cells in columns B, C, and D, below, to report your fees. Indicate "N/A" if not applicable | |
| Recordkeeping Services | Fee Amount |
| Fixed Per Participant Fee | |
| Annual base fee (i.e., flat fee charged in addition to per participant fee) | |
| Per participant fee (dollar fee charged to all participants with a balance—regardless of status; gross fee) Participants with a balance: 57,416 | |
| Recordkeeping Termination Fee |
| Termination Fee |
| Early Termination Fee—Flat fee |
| Early Termination Fee—Per participant fee |
| Early Termination Fee—Asset-based Fee |
| Other - [Explain briefly here & enter any associated cost to the right] |
| Trustee Services |
| Enter applicable costs. If service is included in pricing, enter "Included." |
| Annual Base Fee |
| Per Actual Participant with a balance (active + term) |
| Asset-based Charge |
| Other - [Explain briefly here & enter any associated cost to the right] |
| Transaction Processing | Cost Per Transaction | Approval Fee Applies? | Approval Fee Amount |
| In addition to the transaction processing fee, if there is a separate fee to approve the following transactions, indicate in columns C and D. | | | |
| Loans | | | |
| New Loan Origination | | | |
| Outstanding Loan Maintenance (annual) | | | |
| Primary residence loans | | | |
| Contributions |
| Rollover contributions (in) |
| In-service Withdrawals |
| All types (e.g., rollover, after-tax, Roth, 59½) |
| Hardships |
| Distributions |
| Total Distributions/Direct Rollovers |
| Partial Distributions - (for terminated participants) |
| Frequency of ongoing fee |
| Installments or Periodic Payments - Initial Set up |
| Installments or Periodic Payments - Ongoing |
| Frequency of installment fee |
| Required Minimum Distributions (RMD) |
| In-kind distributions |
| Return of Excess Contributions/Deferrals |
| Participant requested wire transfers |
| Participant requested EFT transfers |
| Participant requested ACH transfers |
| Transactions requiring spousal consent |
| QDRO | |
| DRO—Qualification Fee | N/A - the State Qualifies |
| QDRO—Processing Fee to split account (per QDRO) | |
| Fund Changes |
| Number of fund changes included per year at no cost (if unlimited, enter "unlimited") |
| How do you charge for a fund addition? (flat fee or hourly fee) |
| Fund Addition/Change Cost—Flat Fee |
| Fund Addition/Changes Cost—Hourly fee |
| Participant Experience |
| The cost of one (1) full-time on site representative and ten (10) full-time field service representatives should be included in the per-participant fee. The below listed participant meetings should be assumed as part of the on-site representative responsibilities and included at no additional cost. These numbers may vary from year-to-year based on the State of NJ’s needs. |
| - Number of meeting locations: 69 (includes approximately 28 locations with 2nd / 3rd shifts) |
| - Number of employee group meeting days provided in the prior 12 months: 300 |
| - Number of one-on-one participant meetings provided in the prior 12 months: 7,355 |
| - Number of presenter-led Live Webinars (customized for client / plan) that should be included in pricing: unlimited (included in above-noted number of meeting days) |
| Please indicate cost for each additional full-time field representative over 10. |
| Travel expenses (included in meeting cost) |
| Cost of additional employee meeting days (beyond what is included in the per-participant fee) |
| Cost of presenter-led live webinars (customized for client / plan) NOT included in pricing |
| Number of pre-recorded webinars (customized for client, on-demand) and generic education webinars that should be included in pricing: unlimited |
| Other - [Explain briefly here & enter any associated cost to the right] |
| Investment Products |
| Separate Account Fees (custodial, valuation, striking the net asset value, etc.)—per Separate Account |
| Annual flat fee |
| Asset-based fee |
| Range (minimum / maximum)—per Separate Account |
| Fee included in NAV |
| Commingled Pooled Fee—per Commingled fund |
| Annual flat fee |
| Asset-based fee |
| Range (minimum / maximum)—per Commingled Fund |
| Fee included in NAV |
| Unitization Fee (striking the net asset value to accrue for qualified plan expenses)—per Unitized Fund |
| Annual flat fee |
| Asset-based fee |
| Range (minimum / maximum)—per Unitized Fund |
| Fee included in NAV |
| Custom Portfolio Fee, e.g., multi-manager white label funds, custom TDFs (striking the net asset value, rebalancing, etc.)—per Custom Portfolio |
| Annual flat fee |
| Asset-based fee |
| Range (minimum / maximum)—per Custom Portfolio |
| Fee included in NAV |
| Model Portfolio Fee (rebalancing; excludes striking the net asset value)—per Model Portfolio |
| Annual flat fee |
| Asset-based fee |
| Range (minimum / maximum)—per Model Portfolio |
| Fee included in NAV |
| Custodian Fee (if Client utilizes own custodian for unitized and/or separate account investments) |
| Annual flat fee |
| Asset-based fee |
| Custom Fact Sheet—per fact sheet |
| Separate Account mandates |
| Single manager custom fund |
| Multi-manager custom fund |
| Self-Directed Brokerage Account Fees |
| Setup fee |
| Annual participant fee |
| Annual plan sponsor fee |
| On-line Investment Guidance / Advice Program |
| Is Guidance included at no cost? |
| Is Advice included at no cost? |
| Set-up fee - Advice |
| Advice: Per participant or asset-based fee |
| Other - [Explain briefly here & enter any associated cost to the right] |
| Percentage of fees retained by your firm |
| Managed Account |
| Annual plan sponsor fee |
| Per account asset-based fee |
| - Tier 1 |
| - Tier 2 |
| - Tier 3 |
| - Tier 4 |
| Other - [Explain briefly here & enter any associated cost to the right] |
| Percentage of fees retained by your firm |
| Regulatory Compliance |
| Please ensure completion of all fields below. Enter applicable costs. If service is included in pricing, enter "Included." If service is not available, indicate "N/A." |
| Prototype / Volume Submitter services |
| Plan Amendments (required due to legislative or regulatory changes) |
| Plan Amendments (sponsor-initiated) |
| Custom Document services |
| Plan Amendments (required due to legislative or regulatory changes) |
| Plan Amendments (sponsor-initiated) |
| Required Participant Notices | Printing Cost | Mailing Cost |
| Participant Statement | Included | Included |
| Summary Plan Description | Included | Included |
| Summary of Material Modification | Included | Included |
| Summary Annual Report | Included | Included |
| Blackout SOX Notice | Included | Included |
| Participant Fee Disclosure (404a-5)—Annual | Included | Included |
| Participant Fee Disclosure (404a-5)—Change | Included | Included |
| Auto-enrollment Notice (including EACA Notice) | Included | Included |
| QDIA Notice | Included | Included |
| Safe Harbor Notice (including QACA Notice) | Included | Included |
| Fund / Addition Change Notice | Included | Included |
| 402(f) Special Tax Notice | Included | Included |
| QJSA/QPSA Notice (if applicable) | Included | Included |
| Required Minimum Distribution Notice | Included | Included |
| Other - Explain in this cell here | Included | Included |
| Mailings | Printing Cost | Mailing Cost |
| PIN Letter | Included | Included |
| Confirmation Statement | Included | Included |
| Enrollment Kit | Included | Included |
| Termination Kit | Included | Included |
| Other fees (please describe): | |
| Special project work: | Fee Amount |
| All-inclusive hourly fee (i.e., one hourly rate regardless of the type of project work) | |
| Additional Fees: | |
| Other fee [enter description here] | |
| Other fee [enter description here] | |
| Other fee [enter description here] | |
| Other fee [enter description here] | |
| LFB_05 | |
Fees - 401(a) Plan
| Plan Fees |
| NJ Defined Contribution Retirement Program (NJDCRP), a 401(a) plan |
| Please complete the yellow highlighted cells in columns B, C, and D, below, to report your fees. Indicate "N/A" if not applicable | |
| Recordkeeping Services | Fee Amount |
| Fixed Per Participant Fee | |
| Annual base fee (i.e., flat fee charged in addition to per participant fee) | |
| Per participant fee (dollar fee charged to all participants with a balance—regardless of status; gross fee) Participants with a balance: 91,187 | |
| Recordkeeping Termination Fee |
| Termination Fee |
| Early Termination Fee—Flat fee |
| Early Termination Fee—Per participant fee |
| Early Termination Fee—Asset-based Fee |
| Other—[Explain briefly here & enter any associated cost to the right] |
| Trustee Services |
| Enter applicable costs. If service is included in pricing, enter "Included." |
| Annual Base Fee |
| Per Actual Participant with a balance (active + term) |
| Asset-based Charge |
| Other - [Explain briefly here & enter any associated cost to the right] |
| Transaction Processing | Cost Per Transaction | Approval Fee Applies? | Approval Fee Amount |
| In addition to the transaction processing fee, if there is a separate fee to approve the following transactions, indicate in columns C and D. | | | |
| Loans | | | |
| New Loan Origination | | | |
| Outstanding Loan Maintenance (annual) | | | |
| Primary residence loans | | | |
| Contributions |
| Rollover contributions (in) |
| In-service Withdrawals |
| All types (e.g., rollover, after-tax, Roth, 59½) |
| Hardships |
| Distributions |
| Total Distributions/Direct Rollovers |
| Partial Distributions - (for terminated participants) |
| Frequency of ongoing fee |
| Installments or Periodic Payments - Initial Set up |
| Installments or Periodic Payments - Ongoing |
| Frequency of installment fee |
| Required Minimum Distributions (RMD) |
| In-kind distributions |
| Return of Excess Contributions/Deferrals |
| Participant requested wire transfers |
| Participant requested EFT transfers |
| Participant requested ACH transfers |
| Transactions requiring spousal consent |
| QDRO | |
| DRO—Qualification Fee | N/A - the State Qualifies |
| QDRO—Processing Fee to split account (per QDRO) | |
| Fund Changes |
| Number of fund changes included per year at no cost (if unlimited, enter "unlimited") |
| How do you charge for a fund addition? (flat fee or hourly fee) |
| Fund Addition/Change Cost—Flat Fee |
| Fund Addition/Changes Cost—Hourly fee |
| Participant Experience |
| The cost of one (1) full-time on site representative and ten (10) full-time field service representatives should be included in the per-participant fee. The below listed participant meetings should be assumed as part of the on-site representative responsibilities and included at no additional cost. These numbers may vary from year-to-year based on the State of NJ’s needs. |
| - Number of meeting locations: 1,841 (includes approximately 49 locations with 2nd / 3rd shifts) |
| - Number of employee group meeting days provided in the prior 12 months: 34 |
| - Number of one-on-one participant meetings provided in the prior 12 months: 874 |
| - Number of presenter-led Live Webinars (customized for client / plan) that should be included in pricing: unlimited (included in above-noted number of meeting days) |
| Please indicate cost for each additional full-time field representative over 10. |
| Travel expenses (included in meeting cost) |
| Cost of additional employee meeting days (beyond what is included in the per-participant fee) |
| Cost of presenter-led live webinars (customized for client / plan) NOT included in pricing |
| Number of pre-recorded webinars (customized for client, on-demand) and pre-recorded generic education webinars that should be included in pricing: unlimited |
| Other - [Explain briefly here & enter any associated cost to the right] |
| Investment Products |
| Separate Account Fees (custodial, valuation, striking the net asset value, etc.)—per Separate Account |
| Annual flat fee |
| Asset-based fee |
| Range (minimum / maximum)—per Separate Account |
| Fee included in NAV |
| Commingled Pooled Fee—per Commingled fund |
| Annual flat fee |
| Asset-based fee |
| Range (minimum / maximum)—per Commingled Fund |
| Fee included in NAV |
| Unitization Fee (striking the net asset value to accrue for qualified plan expenses)—per Unitized Fund |
| Annual flat fee |
| Asset-based fee |
| Range (minimum / maximum)—per Unitized Fund |
| Fee included in NAV |
| Custom Portfolio Fee, e.g., multi-manager white label funds, custom TDFs (striking the net asset value, rebalancing, etc.)—per Custom Portfolio |
| Annual flat fee |
| Asset-based fee |
| Range (minimum / maximum)—per Custom Portfolio |
| Fee included in NAV |
| Model Portfolio Fee (rebalancing; excludes striking the net asset value)—per Model Portfolio |
| Annual flat fee |
| Asset-based fee |
| Range (minimum / maximum)—per Model Portfolio |
| Fee included in NAV |
| Custodian Fee (if Client utilizes own custodian for unitized and/or separate account investments) |
| Annual flat fee |
| Asset-based fee |
| Custom Fact Sheet—per fact sheet |
| Separate Account mandates |
| Single manager custom fund |
| Multi-manager custom fund |
| Self-Directed Brokerage Account Fees |
| Setup fee |
| Annual participant fee |
| Annual plan sponsor fee |
| On-line Investment Guidance / Advice Program |
| Is Guidance included at no cost? |
| Is Advice included at no cost? |
| Set-up fee - Advice |
| Advice: Per participant or asset-based fee |
| Other - [Explain briefly here & enter any associated cost to the right] |
| Percentage of fees retained by your firm |
| Managed Account |
| Annual plan sponsor fee |
| Per account asset-based fee |
| - Tier 1 |
| - Tier 2 |
| - Tier 3 |
| - Tier 4 |
| Other - [Explain briefly here & enter any associated cost to the right] |
| Percentage of fees retained by your firm |
| Regulatory Compliance |
| Please ensure completion of all fields below. Enter applicable costs. If service is included in pricing, enter "Included." If service is not available, indicate "N/A." |
| Prototype / Volume Submitter services |
| Plan Amendments (required due to legislative or regulatory changes) |
| Plan Amendments (sponsor-initiated) |
| Custom Document services |
| Plan Amendments (required due to legislative or regulatory changes) |
| Plan Amendments (sponsor-initiated) |
| Required Participant Notices | Printing Cost | Mailing Cost |
| Participant Statement | Included | Included |
| Summary Plan Description | Included | Included |
| Summary of Material Modification | Included | Included |
| Summary Annual Report | Included | Included |
| Blackout SOX Notice | Included | Included |
| Participant Fee Disclosure (404a-5)—Annual | Included | Included |
| Participant Fee Disclosure (404a-5)—Change | Included | Included |
| Auto-enrollment Notice (including EACA Notice) | Included | Included |
| QDIA Notice | Included | Included |
| Safe Harbor Notice (including QACA Notice) | Included | Included |
| Fund / Addition Change Notice | Included | Included |
| 402(f) Special Tax Notice | Included | Included |
| QJSA/QPSA Notice (if applicable) | Included | Included |
| Required Minimum Distribution Notice | Included | Included |
| Other - Explain in this cell here | Included | Included |
| Mailings | Printing Cost | Mailing Cost |
| PIN Letter | Included | Included |
| Confirmation Statement | Included | Included |
| Enrollment Kit | Included | Included |
| Termination Kit | Included | Included |
| Other fees (please describe): | |
| Special project work: | Fee Amount |
| All-inclusive hourly fee (i.e., one hourly rate regardless of the type of project work) | |
| Additional Fees: | |
| Other fee [enter description here] | |
| Other fee [enter description here] | |
| Other fee [enter description here] | |
| Other fee [enter description here] | |
| LFB_05 | |