(NAF) Bundled 401(k) Plan

The 401(k) plan statistics below are based on participation effective December 31, 2010. There is no guarantee that eligible employees will continue to participate in the 401(k) plan. The number of active participants could vary from current levels.

a. CNIC Payroll Information
    • Employees are paid biweekly on a single uniform pay-date
    • 26 pay periods a year with approximately 118 payroll locations (includes 
      overseas locations)
    • 1 central payroll processor (payroll contractor)
    • 2 central bank accounts for Electronic Fund Transfer (EFT)
    • 2 central bank accounts for payroll checks
    • Bi-weekly contributions are electronically transferred

b. Current 401(k) Plan Statistics (as of 12/31/10)
    • Plan Assets: $96M
    • Eligible Participants: 9,763
    • Active Participants: 4,211

c. Employees may choose to withhold any percent of their salary for the 401(k) program, subject to a maximum annual contribution of $16,500.00 for employee funds. In addition, CNIC provides an employer match dollar for dollar of up to 3%. The Contractor's Plan shall accommodate this option and other option changes as required by the CNIC.

This requirement is for the Contractor to administer the Commander, Navy Installations Command (CNIC) nonappropriated (NAF) bundled 401(k) plan. The bundled plan includes trustee, record keeping, administration, investment and custodial services. A contractor (Mass Mutual Retirement Services) is currently providing these services.

CNIC is a non-appropriated funded instrumentality of the United States Government. It is a self-sustaining organization that generates the revenue necessary to operate through the sale of goods and services to authorized patrons.

 PERIOD OF PERFORMANCE. The period of performance for this contract shall be for a base period of two (2) years with three (3) one (1) year option periods for a total contract duration period not to exceed five (5) years.