RFP-Deferred Compensation Plan Consulting Services

Walworth County, Wisconsin has issued a Request for Proposals (RFP) for Deferred Compensation Plan Consulting Services targeting a retirement plan advisor to review and optimize the County's existing 457(b) and 403(b) deferred compensation plans. The procurement seeks a qualified consultant to evaluate current employee investment options, analyze investment fees, recommend plan modifications, and potentially assist with competitive procurement processes for new plan providers. The County's current plan manages approximately $40 million in assets across 650 participants, with 985 eligible employees and 337 active contributors. Key deliverables include comprehensive plan review, fiduciary services, participant education, and potential plan transition support. The RFP requires proposing consultants to be properly licensed and incorporated in Wisconsin, with a minimum of five years verifiable experience providing deferred compensation consulting to governmental entities. Critical procurement dates include written questions due by April 24, 2017 at 3:30 p.m. CST, with proposals due May 2, 2017 at 1:00 p.m. CST. Consultant interviews are tentatively scheduled for May 18-19, 2017, with contract award anticipated in June 2017.

The contract will have an initial three-year term commencing August 1, 2017, with options to extend for two additional one-year periods. No specific set-aside designations or restrictions on respondent types were explicitly mentioned in the procurement documents. The RFP clarified that no incumbent contractor currently provides these consulting services, though the County maintains relationships with record-keeping service providers for the deferred compensation programs. Pricing must be submitted as a firm fixed cost, with reimbursable expenses incorporated into the fee. Total employee contributions in 2016 were $1,494,788, with projected 2017 contributions of $1,385,806. The County prefers payment via purchasing card (MasterCard) without additional fees and reserves the right to terminate the agreement with no penalty if the Board of Supervisors fails to appropriate funding. Financial capability documentation, including audited financial statements and bankruptcy certification, may be required within five working days of request.