Retirement and Savings Plan Administration RFP€¦ · Retirement and Savings Plan Administration...

June 2, 2020

NOTICE TO BIDDERS

Sealed Proposals in response to this Request for Proposal (“RFP”) will be received by the Board of Water and Light (“BWL”) up to June 30, 2020, at 2:00 pm local time, for furnishing:

Retirement and Savings Plan Administration RFP Proposals must be in full accordance with the enclosed Scope of Work. Proposals must be submitted via electronic format. Electronic copies shall be in a non-protected, Adobe pdf format (maximum file size is 35MB/per email submission) and e-mailed to [email protected]. For ease of identification, enter “Retirement and Savings Plan Administrator RFP” in the subject line of your e-mail Proposal. All Proposals must be received by due date/time deadline. Proposals received after deadline will be rejected. Hard copy of Proposals will not be accepted. The BWL reserves the right to reject any or all Proposals, waive irregularities or technicalities in any Proposal, and accept any Proposal in whole or in part, which in the opinion of the BWL, is in its best interest. The BWL does not limit the methods or factors to be used for evaluation. BWL will accept questions regarding this RFP through June 15, 2020. Direct all questions in writing concerning this

RFP via email to Tony De Luca, at [email protected]. Responses to questions timely received will be issued

to all Bidders via addenda to this RFP (reference Article 6 in the enclosed Instruction to Bidders).

Sincerely,

Tony De Luca, Buyer Purchasing Department (517) 702-6194 Phone (517) 702-6042 Fax [email protected]

mailto:[email protected]



Bidder Instructions approved by Legal Services November 2019 Page 1 of 4

INSTRUCTIONS TO BIDDERS

Retirement and Savings Plan Administrator RFP

1. THE RFP CONSISTS OF THE FOLLOWING ("PROPOSAL DOCUMENTS"):

(a) Notice to Bidders;

(b) Instructions to Bidders;

(c) Check List

(d) Addenda, if issued;

(e) Scope of Work;

(f) Proposal Form;

(g) Insurance Requirement;

(h) Confidentiality Agreement; and

(i) Sworn and Notarized Affidavit of Compliance - Iran Economic Sanctions Act;

2. TERMS AND CONDITIONS

Do not submit BIDDER’s standard terms and conditions as a replacement to the BWL’s Standard Terms and Conditions. BIDDER shall submit their Proposal based upon the BWL’s Standard Terms and Conditions as attached. BIDDER may request clarifications, tender exceptions consistent with Section 7 (or provide alternative language that corresponds to a tendered exception as provided in Section 7) to the BWL’s Standard Terms and Conditions. Exceptions to the BWL’s Standard Terms and Conditions must be noted on the Proposal Form in the space provided. Wholesale rejection of the BWL’s Standard Terms and Conditions, as well as replacing with BIDDER’S standard terms and conditions will not receive consideration and result in a rejection in BIDDER’S Proposal in its entirety. Further, Proposals which are submitted and contingent upon BIDDER’S standard terms and conditions will be rejected.

3. BIDDER’S RESPONSIBILITY

It shall be the BIDDER’S responsibility to be familiar with the Proposal Documents and with the BWL, scope of work, and conditions that are likely to be encountered. BIDDER shall visit the site and specific areas on the site wherein the Work will be performed.

Any failure by the successful BIDDER to familiarize itself with conditions likely to be encountered, to acquaint itself with the available information, or to attend any meeting of BIDDERS shall not relieve the BIDDER from responsibility for providing the specified equipment, materials, and service. A failure to comply with this requirement does not constitute grounds for extra compensation over the pricing stated in the BIDDER’S Proposal.

BIDDER shall be prepared to make a presentation at the BWL’s request on its Proposal and to answer questions.

4. AVAILABILITY OF LABOR AND MATERIALS

The BWL will not furnish any labor, facilities, services, utilities, materials, equipment, or supplies unless specifically stated in the Proposal Documents.

BIDDER shall assess and determine the availability of necessary labor and the prevailing wages applicable to that workforce. In addition, BIDDER shall assess and determine the availability of materials and equipment necessary to fulfill the contract in a complete and timely manner. The BWL will not honor any claim for additional cost premised on the unavailability of materials or equipment, shortage of labor, or unexpected wage rates.

5. ADDENDA

The BWL will clarify any questions or correct the RFP by the issuance of an Addendum to all BIDDERS.

Each BIDDER shall acknowledge receipt of each Addendum by filling in the blank space provided on the Proposal Form.


6. DRAWINGS

Not Applicable.

7. PREPARATION OF PROPOSAL FORM

The Proposal Form is included in the Proposal Documents. BIDDER shall prepare its Proposal and submit it as stated in the Notice to Bidders.

Proposals must be prepared in full accordance with the Proposal Documents. The Proposal price(s) stated on the Proposal Form must include all cost provisions of the complete Scope of Work and all requirements under the RFP. If the BIDDER chooses to submit an alternate or take an exception to any provision contained in the Proposal Documents, the alternate or exception must be specifically stated in BIDDER’S Proposal, must reference the objectionable article of the Proposal Documents, and must propose alternate language or alternate Work. Any exception to the Proposal Documents, including any exception to the BWL’s Standard Terms and Conditions must be raised in BIDDER’S Proposal as exceptions provided subsequently will not be considered. Once a purchase order has been issued, and the Acknowledgement of Purchase Order (“Acknowledgement”) returned, a binding contract exists between the parties and further negotiation of terms is not permitted.

Proposals received after the time and date for receipt will not be accepted. The BIDDER is responsible for timely delivery of the Proposal at the designated location and time for receipt.

The Proposal must be signed with the full name and address of the BIDDER. Proposals received without signature will not be accepted. If the BIDDER is a co-partnership, the firm name and signature of all parties are required. If the BIDDER is a corporation, full corporate name, signature of authorized official is required. BIDDER shall certify that the person who signs the Proposal is empowered to do so by the corporation. Such certificate shall be up-to-date and current at time of the Proposal Form submittal.

A Proposal may not be modified, withdrawn or canceled unilaterally by the BIDDER for a period of sixty (60) days following the time and date designated for the receipt of Proposals, and BIDDER so agrees in submitting the Proposal. A Proposal submission is a confirmation by the BIDDER that it is prepared to commence and complete the various stages of the work as described in the Proposal Documents.

Expenses for developing and presenting Proposals shall be the responsibility of the BIDDER. It is the BIDDER’S responsibility to ensure that no conflict of interest or other ethical concern precludes the BWL from considering BIDDER’S Proposal.

8. SUBSTITUTION

Under certain circumstances, the Proposal Documents may permit substitution of products. Those areas where substitution is permitted will be designated with the qualifying phrase or equal as may be approved by the BWL REPRESENTATIVE. If BIDDER would like to substitute a product, BIDDER must make a Proposal including the products specified in the Proposal Documents and an alternate Proposal including the proposed substitution, specifically referencing any price change based on the substitution.

BIDDER’S Proposal shall contain data to substantiate that the substitution is, in fact, equal to the products specified. Substantiating data may consist of drawings or other documents necessary or helpful to indicate any modifications resulting from use of proposed substitutions. BIDDER bears the burden of proving that the proposed substitutions meet the quality standards established in the Proposal Documents.

If BIDDER is eventually awarded a Purchase Order, the Purchase Order will indicate whether the substitution was acceptable or whether the original product must be used.

The acceptance of a substitution does not alleviate BIDDER of any contractual responsibility.

9. BONDS Not Applicable.

10. INSURANCE

The certificates of insurance required by the Contract Documents must also accompany the Acknowledgment. All these documents should be directed to the attention of the BWL Buyer listed on the Notice to Bidders with a copy to the person designated as “BWL REPRESENTATIVE.” The Purchase Order number must be indicated on the Acknowledgement, bonds, and certificates of insurance.


11. EVALUATION OF PROPOSALS

All Proposals will be sealed until the time designated on the Notice to Bidders. At the opening, the names of all BIDDERS will be made public.

To evaluate the Proposals, the BWL will consider such factors as responsiveness of Proposal, price, time of completion, exceptions to the Proposal Documents, financial stability, recent and past experience and similar factors in determining which Proposal it deems to be in its best interest. The BWL does not herein limit the methods or factors to be used for evaluation. The intent of the evaluation process is to choose the best-evaluated Proposal.

The BWL reserves the right to enter into private negotiations with the selected BIDDER(S), for further scrutiny, even though these negotiations may result in changes to the BWL specifications or to the BIDDER(S) services, price quotations, etc.

The BWL may reject any Proposal, waive irregularities or technicalities in any Proposal, and accept any Proposal in whole or in part. The BWL may cancel, in whole or in part, the entire RFP at any time prior to full execution of a contract between both parties.

12. VENDOR CYBERSECURITY QUESTIONNAIRE

Not Applicable.

13. QUESTIONS, MEETING OF BIDDERS, AND ADDENDA

In the beginning of the bid preparation period, the BWL REPRESENTATIVE may notify each BIDDER of a Meeting of BIDDERS (“Meeting”) to be held at a later date, usually during the second week of the Proposal preparation time. If a Meeting is held, BIDDERS are required to attend the Meeting to present their questions about the Proposal Documents, to receive answers to questions, to receive copies of Addenda, to participate in open discussion of the Project, and to participate in the only conducted tour of the site. The Notice of Meeting will give complete details about the Meeting and instructions regarding preparation for the Meeting

Changes, revisions, and corrections that may result from the discussions that occur during the Meeting will be confirmed by the issuance of an Addendum. Suggestions of topics for the Meeting agenda should be directed to the person designated on the Notice to Bidders.

14. CONTRACT PRICE

The contract price shall be equal to the Proposal price adjusted to any price changes as agreed upon in writing by the BIDDER and the BWL.

The contract price may be modified via a change order upon mutual agreement of both parties.

15. EXECUTION OF ACKNOWLEDGMENT

The successful BIDDER shall, within twenty-four hours after issuance of the Purchase Order, return the properly executed Acknowledgment to the person designated on the Notice to Bidders. BIDDER shall certify that the person who signs the Acknowledgment is empowered to do so. Upon execution, an agreement will be deemed consummated and the documents, as specified in the list of RFP documents set forth in Section 1 herein, along with any mutually agreed written changes, shall constitute the full and binding agreement between the parties. If the properly executed Acknowledgement, along with any required bonds and insurance certificates, are not returned within five (5) calendar days, the BWL may deem the Purchase Order rejected and offer the Purchase Order to another BIDDER without penalty.

16. CONFIDENTIALITY

All complete, in-process or conceptual work are the sole property of the BWL and may not be used without the consent of the BWL. Any product used, such as, drawings and specifications, photos, campaigns, drafts, etc. are the sole property of the BWL. All BWL information will be kept confidential at all times. The BIDDER shall not disclose to others, without the written consent of the BWL, any information concerning the service provided, the organization, its personnel, or its activities, which the BIDDER may obtain as a result of, or in connection with the performance of the services.


17. FREEDOM OF INFORMATION ACT (MCL §15.231 ET SEQ.) (FOIA)

The BWL is subject to FOIA. The BWL may be required to make available certain information submitted with your bid or Proposal available to the public if requested. This information may include comparative pricing and other data which the BIDDER may normally consider to be proprietary or confidential. If the BIDDER submits any information it deems to be exempt from FOIA requirements, the BIDDER shall clearly mark it as such.

18. LOCAL PREFERENCE

Applies to bids of $100,000 or greater only.

Businesses with an office in the BWL service area shall be given the following advantage when the BWL receives a sealed Proposal:

(a) After the Proposals are evaluated and the best-evaluated Proposal is selected, the BWL shall determine whether the best-evaluated BIDDER is a Local business.

(b) If a Local business was not selected as the best-evaluated BIDDER due entirely to its Proposal price being higher than the price of the best-evaluated Proposal, the BWL shall determine whether the best-evaluated Local business’s Proposal was within 5% of the Proposal price of the best evaluated Proposal. If so, this Local business shall then have the opportunity to reduce its price to match the price of the original best-evaluated BIDDER, and upon such agreement, shall be deemed the best-evaluated Proposal.

(c) If more than one Local business is within 5% of the price of the best-evaluated Proposal and is otherwise equal to the best-evaluated Proposal, and the Local business identified in (b) refuses to lower its Proposal price, the same opportunity shall be afforded to the other qualifying Lansing-based businesses, in order of ascending price.

If no Lansing-based business agrees to the conditions described above, the contract shall be awarded to the person or business originally deemed the best-evaluated BIDDER.

19. SAFETY

Unless excepted in the Proposal, and accepted by the BWL, all BIDDERS will be required to comply with the BWL’s Safety Manual. All BIDDERS should read and understand the BWL Safety Manual before submitting a Proposal. The BWL Safety Manual can be found on the BWL’s website, http://www.lbwl.com by selecting first “Working with Us” and then “Vendor Resources” and finally selecting “Download Manual” under BWL Safety Manual.

END OF INSTRUCTIONS TO BIDDERS

http://www.lbwl.com/

Approved by Legal Services November 2019

Check List

RFP Title: Retirement and Savings Plan Administrator RFP

Instructions: Please provide a (√) next to each item to signify completion. Submit this Check

List with your Proposal submission.

1.________ Reviewed Notice to Bidders.

2. ________ Reviewed Instructions to Bidders. All Proposals must strictly conform to these

instructions to be considered.

3. ________ Reviewed all the Proposal Documents, and can provide the materials,

specifications, and/or services. (Please refer to Section 1 of the Instructions to Bidders for a list

of the Proposal Documents).

4. ________ Enclosed a thoroughly completed and signed the Proposal Form.

5. ________ Reviewed BWL’s Standard Terms and Conditions, Master Service Agreement,

and/or Software License Agreements. Please refer to Section 3 of the Instructions to Bidders.

(Specifically, any exceptions must be provided as redlines to be considered.) Provide any End

User License Agreements related to software purchases (if applicable).

6. ________ Reviewed and can adhere to the insurance coverage requirements outlined in

BWL’s Standard Terms and Conditions. (Any exceptions must be provided as redlines to be

considered as provided in Section 3 of the Instructions to Bidders.) As a reminder, a Certificate

of Insurance consistent with BWL’s Standard Terms and Conditions is required before any

purchase of goods or work can begin.

7. ________ Enclosed a completed Iran Economic Sanctions Form, with a notarized signature.

8. ________ Enclosed any issued Addendum Acknowledgment(s).

9. ________ Enclosed the Proposal Security, if required under Section 2 of the Instructions to

Bidders.

Approved by Legal Services November 2019

By initializing this Check List, you are acknowledging that you have reviewed and understand

each of the foregoing and that any Proposal received after due date, will be rejected from any

consideration.

Initials: _________________________ Date: _____________

Scope of Work Page 1 of 18 Draft Provider RFP v10Scope

SCOPE OF WORK Retirement and Savings Plan Administration

SECTION 1 - GENERAL

1. GENERAL SCOPE OF SERVICES

The Lansing Board of Water & Light (the “BWL”) sponsors three defined-contribution retirement savings plans—two 401(a) and one 457(b). BWL does so for the exclusive benefit of its employees, retirees, and their beneficiaries. The scope of this RFP is to furnish recordkeeping, education, enrollment, and administration services for all three plans (collectively, the “Plans”) in order to provide the best experience for participants.

Bidders should be prepared to support both the Plan Sponsor (BWL) and Plan Participants. The bidder should be able to provide this service for a term of 3-5 years with the option for renewal upon term completion. Proposals which do not cover all three Plans will be deemed incomplete and not eligible for consideration. Each plan is a “governmental plan” for purposes of ERISA section 3(32) and Internal Revenue Code section 457(e)(1)(A). The 457(b) plan will require support of both pre-tax and post-tax contributions.

The vendor’s proposal must include samples of all contracts that will be entered between all offering parties and the BWL. If you will require execution of a particular contract but will rely on the BWL to supply that contract, you must disclose that fact in your proposal.

2. BOARD OF WATER & LIGHT BACKGROUND

Founded in 1885, BWL is the largest municipal electric utility in Michigan and among the 30 largest in the United States. BWL services are mandated by the City of Lansing’s City Charter. BWL is governed by an eight-member Board of Commissioners. Commissioners are appointed by the City of Lansing’s mayor and confirmed by the City Council.

The BWL employs a total of approximately 690 bargaining and non-bargaining employees. The bargaining unit employees are represented by the International Brotherhood of Electrical Workers (IBEW) Local 352.

The BWL owns and operates:

(a) an electric system, which generates, purchases and distributes electric power and energy, and provides electric service to approximately 97,000 residential, commercial, and industrial customers in the greater Lansing, Michigan area;

(b) water wells, a raw water transmission system, water conditioning facilities, and an extensive water distribution system serving potable water to approximately 56,000 residential, commercial, and industrial customers in the greater Lansing area;

(c) steam generation boilers, a steam transmission and distribution system serving approximately 170 customers, and a chilled water facility and distribution piping system serving 19 customers in the city of Lansing.

The BWL’s total operating revenue for fiscal year 2019 was $356,884,521.

Additional BWL background and information may be viewed at www.lbwl.com.

3. PROPOSAL CONTACT INFORMATION Tony De Luca Lansing BWL Purchasing 1110 S. Pennsylvania Ave.

http://www.lbwl.com/


Lansing, MI 48912 517-702-6194 [email protected]

4. PLAN SPONSOR KEY SELECTION FACTORS

BWL is seeking proposals to secure a relationship with a full-service provider who will deliver the best

possible participant-directed retirement savings plans for its employees. BWL sponsors two 401(a) Plans

and one 457(b) Plan (the “Plans”). The selected vendor should expect to begin providing account

recordkeeping services on approximately February 1, 2021—with conversion support beginning prior to

that date should BWL decide to convert from existing provider.

a. Requirements:

• Provide exceptional plan sponsor support through technical expertise which will allow BWL to gain

efficiencies with administrative tasks.

• Provide proactive compliance assistance by enabling best practices for plan administration.

• Offer an extensive investment option platform including access to of quality mutual funds, collective

trusts and/or exchange-traded funds.

• Offer a complete customer service platform, including administration of eligibility tracking,

enrollment, loans, hardships, QDRO qualification, and distributions.

• Provide superior recordkeeping, customer service, compliance and reporting capabilities including

extensive or customizable plan-level reports for use by Plan Sponsor.

• Provide a competitive pricing model.

• Provide knowledgeable call center service representatives (with respect to general retirement plan

laws and regulations as well as provisions specific to the BWL Plans).

• Offer a comprehensive participant education/communication experience by providing a variety of

tools, not limited to electronic communication and mailings, that assist participants in meeting their

retirement goals. Communication should be customizable and include options for employees to be

able to analyze and assess their own accounts for items such as 457 catch up contribution limits

and other plan participant specific information.

• Offer service hours that accommodate BWL locations throughout Lansing, MI and Plan

Participants throughout the United States.

• Provide a detailed service level agreement with service level guarantees.

• Design a transition plan from current TPA (if applicable) including asset transfers, account set-ups,

historical individual account information (e.g. contribution history, balance history), and blackout

periods with minimal disruption to participants.

• Provide secure portals for participants to access their account data and assets on, at minimum, the

following platforms: web browser, Apple iOS, Android operating systems.

b. Selection Criteria:

The BWL will evaluate and grade RFP responses using following criteria. Each item listed below will

be given a grade ranging from 1-10. Each item will be weighted with the total weight of all items

equaling 100. The BWL, however, is not limited to these criteria during the selection process.

• Organization and History

• Client Service/Quality Assurance


• Recordkeeping/Administration

• Regulatory Services

• Reporting

• Voice Response System (VRS), Web, Mobile, and Participant Access

• Communications and Education

• Conversion

• System Capabilities and Hardware

• Investments

• Fee Schedule

• References

All inquiries regarding the RFP must be submitted to Tony De Luca, BWL Purchasing, by the deadline listed below. After questions are reviewed, answers will be posted to the BWL website at www.lbwl.com/bidproposals. During the RFP process, we will not take phone calls from vendors unless selected as a finalist (exceptions made for incumbent with current business). If selected as a finalist, we may set up a phone call to further discuss the opportunity.

5. PLAN SPONSOR TIMELINE/SELECTION SCHEDULE:

• RFP Issued: June 2, 2020

• Clarifying questions due: June 15, 2020

• RFP Response Due: June 30, 2020 at 2:00 PM E.S.T.

6. OTHER REQUIREMENTS

• Any proposal submitted after the deadline will not be considered.

• Inviting a proposal does not assume a “pre-qualification” of any proposer.

• BWL will not be held liable for any costs incurred in the preparation of proposals.

• The proposer shall furnish additional information as may be reasonably required.

• BWL reserves the right to reject any and all proposals, the right in its sole discretion to accept the

proposal which it considers most favorable, and the right to waive minor irregularities in the

procedures.

7. EXHIBITS

The following Exhibits are attached to and made a part of this request for proposal:

(a) Exhibit A: Large 401(a) Plan Statistics as of 12/31/2019

(b) Exhibit B: Small 401(a) Plan Statistics as of 12/31/2019

(c) Exhibit C: 457(b) Plan Statistics as of 12/31/2019

http://www.lbwl.com/bidproposals


SECTION II - SUMMARY OF PLAN DESIGNS / ADMINISTRATION

1. LARGE 401(a) PLAN AS OF 12/31/2019 (Exhibit A)

Third-Party Plan Administrator: ICMA Retirement Corporation

Name of Plan: Lansing Board of Water and Light Defined Contribution Plan and Trust 1

Plan Type: Defined-contribution, 401(a), money-purchase, governmental

Total Plan Assets: $209,909,906

Contributions: $10,192,032 in plan year 2019

Participant Count with Balance: 962 total (includes 677 active)

Net Growth of Participant Count: Approximately +15 persons annually

Effective Date: March 10, 2009

Number of Plan Loans: 488 total (includes 45 deemed distributed)

Amount of Plan Loans: $4,197,292 total, including $766,583 deemed distributed

Eligibility: All full-time employees after six-month probation period

Plan Design: Employer contributions only. Percent of compensation contributed varies (between 9.5% and 18.5%) based on date of hire, eligibility for overtime pay, and union status

Vesting schedule: The base (majority) amount of the employer contribution is subject to a six-year vesting schedule. Remaining amounts contributed by employer (if applicable) are immediately vested.

In-Service Withdrawals: Allowed after attainment of normal retirement age

Acceptance of Rollovers: Yes

Hardship Withdrawals: No

Self-Directed Brokerage Account: Optional

Plan Document: Model from TPA

Normal Retirement Age: 55 years

2. SMALL 401(a) PLAN AS OF 12/31/2019 (Exhibit B)

Third Party Plan Administrator: ICMA Retirement Corporation

Name of Plan: Lansing Board of Water and Light Defined Contribution Plan and Trust 2

Plan Type: Defined-contribution, 401(a), money-purchase, governmental


Contributions: $21,616 in plan year 2019

Participant Count with Balance: 36 total (includes 2 active)

Effective Date: January 1, 1998

Loans No

Eligibility: Appointees of Board of Commissioners only, no probation period

Plan Design: Employer contribution only (8%)

Vesting Schedule Immediate

In-Service Withdrawals: Allowed after attainment of normal retirement age

Acceptance of Rollovers: Yes


Hardship Withdrawals: No

Self-Directed Brokerage Account: Optional


Normal Retirement Age: 55 years

3. 457(b) PLAN AS OF 12/31/2019 (Exhibit C)

Third Party Plan Administrator: ICMA Retirement Corporation

Name of Plan: Lansing Board of Water and Light 457 Deferred Compensation Plan and Trust

Plan Type: Defined-contribution, deferred-compensation, governmental


Contributions: $2,034,653 in plan year 2019

Participant Count with Balance: 939 (includes 694 active)

Net Growth of Participant Count: Approximately +10 persons annually

Effective Date: January 1, 1976

Loans: No

Eligibility: All full-time employees, no probation period

Plan Design: Employer contributes $1000 to each eligible account every January. Employer matches dollar for dollar up to an additional $1,500 annually. Additional employee contributions allowed up to IRS maximum.

Vesting Schedule: Immediate

In-Service Withdrawals: No

Acceptance of Rollovers: After separation of service

Hardship Withdrawals: Yes

Self-Directed Brokerage Account Optional

Normal retirement age: Self-declared



SECTION III – QUESTIONNAIRE

VENDORS SUBMITTING RESPONSES TO THIS RFP MUST SUBMIT AN ANSWER FOR EVERY ITEM IN SECTION III – QUESTIONNAIRE. IF YOU WISH TO NOT RESPOND TO AN ITEM, ANSWER N/A. YOUR RESPONSES TO SECTION III – QUESTIONNAIRE MAY BE SUBMITTED IN MS WORD, MS EXCEL, OR PDF FORMAT.

1. Organization and History

1.1. Provide a brief overview of your firm and history of your organization including an organizational

chart. Describe any parent/subsidiary/affiliate relationships.

1.2. Does your organization utilize employment policies which prevent discrimination or harassment of

protected groups? If yes, please describe.

1.3. Does your organization have a program in place to support a diverse, equitable and inclusive

workforce? If yes, please describe.

1.4. Describe your organizational philosophy/approach to client services. This should include the

economic importance of this business line to your firm as well as what distinguishes the firm from its

competitors.

1.5. Please provide the name(s), title(s), address(es), telephone and e-mail address(es) of the

individual(s) responsible for responding to this request.

1.6. What is the average number of clients managed by the team leader/senior service representative

and day-to-day client service representative who would be assigned to the Plans?

1.7. What are your client retention statistics for each of the last three years?

1.8. For former clients over the last three years, what percentage left due to issues pertaining to

services provided by your organization?

1.9. What is the average duration of your client relationships?


1.10. Indicate the total value of assets for which you provide third party administration.

1.11. Indicate how many conversions are planned in the next 12 months (system-wide or new client

conversions) that may impact this conversion or overall client service once converted.

1.12. How many defined-contribution plans do you currently provide administration services for in the

following categories:

a. By number of participants:

Number of plans

Under 100

100-499

500-999

1,000-4,999

Over 5,000

Total

b. By market value

Number of plans

Under $20 million

$20 million - $50 million

$50 million - $200 million

Over $200 million

Total

1.13. Please provide a breakdown of the number of clients you service by plan type as a percentage of

your total business:

a. Plan Type


% of total business

401(a)

457(b)

403(b)

401(k)

Defined-Benefit

Other

Total

2. Client Service/Quality Assurance

2.1. Please describe the team that would deal directly with BWL during the transition and on an ongoing

basis.

a) Staff size

b) Experience

c) Turnover rates

2.2. Provide the resumes of the individuals who will be assigned to the BWL account.

2.3. What is the average participant deferral rate for into plans that you recordkeep?

2.4. What is the average participation rate for the plans that you recordkeep?

2.5. Do you guarantee service performance? If so, please describe.

2.6. Please provide three references of current clients who have similar plan demographics (i.e., size,

plan design, location, industry). One of the three should have converted to your platform within the past

three years. At least one reference should be a sponsor of a governmental plan.


3. Recordkeeping/Administration

3.1. Describe how your system will process activity from the employer’s payroll. Explain how you adapt

the employer’s current layout to your system. Describe how you would process multiple payroll feeds.

3.2. Does your system interface directly with payroll (such as, for loan initiation and payments,

enrollment, deferral election changes)?

3.3. Do you track eligibility and enroll participants? If so, please explain your eligibility tracking and

enrollment process requirements.

3.4. Describe system action when a participant terminates.

3.5. Please explain the process for terminated participants requesting distributions and the subsequent

approval process, including electronic documentation for approval of participant distributions that meet

benefit plan audit requirements (e.g. tracking of date of approval, who approves).

3.6. Describe how your system monitors, notifies and processes Required Minimum Distributions. Will

you issue distributions without participant instructions?

3.7. What methods of reallocation (percent and/or dollar) do you handle? Are confirmations sent?

3.8. Describe in detail your loan initiation capabilities.

a) Does your system allow participants to request loans via Web or telephone (including loan

modeling)?

b) Do you offer paperless loan processing?

3.9. How do you handle delinquent and/or defaulted loans?


3.10. Will you accept loan payments directly from participants, including from those participants who

have terminated employment?

3.11. What responsibility does the employer retain for initial and ongoing loan servicing?

3.12. Can the system calculate an employer's discretionary contribution? If so, are there additional

costs?

3.13. Can you recordkeep self-directed brokerage accounts? Is SDBA in-house or through a partner?

Can the participant’s chosen external advisor sign on to your SDBA platform for participant-authorized

account purposes? Can the participant’s chosen external advisor be compensated through SDBA

setup?

3.14. Can you accept rollovers of loan amounts from a prior employer's plan?

3.15. Do you offer regular conference calls at which accounting, payroll and the benefits administrator

may discuss administrative issues?

3.16. Can your system accommodate automatic enrollment and automatic escalation?

3.17. Do you provide an administration manual?

3.18. How do you monitor participant contribution limits? Describe what steps are taken if limits are

exceeded; include a description of the refund process.

3.19. Describe in detail how your system processes forfeitures.

3.20. What checks and balances do you have in place to assure transactional integrity? In the event of

a record keeping error within your control, will you be financially responsible for making participants

and/or the plan whole?


3.21. What other administrative services do you provide that we should know about?

4. Regulatory Services

4.1. What fiduciary responsibility does your organization assume?

4.2. Do you offer 3(16) services? If so, please describe fees and services that are not included in the

RFP.

4.3. What services do you provide to help the plan sponsor with regards to plan mailings (e.g. fund

change notice, fee notice, QDIA notice)? To what extent may the plan sponsor customize the

information in the annual fee notice or QDIA notice?

4.4. What resources are available within your organization to assist the plan sponsor with remaining in

compliance with various codes and regulations? Include attorneys on staff and compliance experts

employed by your organization if applicable.

4.5. Describe any past or pending litigation, within the last five years, related to the types of services

you are proposing for BWL.

5. Reporting

5.1. Please provide a sample participant level statement and describe the process for distribution of

such statements (i.e. electronic vs. paper copies). How will participants identify the flow of shared

revenue on their statements?

5.2. Please provide sample plan-level statement for use by plan sponsor. How does the statement

describe or aggregate fees paid by participants? Does the statement provide any transparency

regarding the specific types of fees being deducted from plan assets?

5.3. In order to fulfill its fiduciary duties, Plan Sponsor desires extensive options for analyzing and

reviewing participant data/trends. How do reporting options built into your sponsor web platform support

that desire? What unique efficiencies are available in your platform for ad hoc reporting? Can plan

sponsor easily generate plan-level reports detailing the flow of shared revenue from fund companies?

How should plan sponsor use available reports to verify information on plan-level statements?


5.4. Describe your customization capabilities for participant level statements.

5.5. What is the standard timeframe for providing each report after the reporting period ends?

5.6. Please provide a plan sponsor demo site.

6. Voice Response System (VRS), Web, Mobile, and Participant Access

6.1. Describe the services available through your voice response system (VRS), Web, and mobile

applications. What information and tools are available within them that differentiate your organization?

6.2. What training is provided to service center operators before they can handle incoming calls? Will

the Plan be assigned a designated team to work specifically on their account? Describe any specific

training provided to the Plan’s call center representatives.

6.3. Where is your service center operators located? How many call center employees service

retirement plan participants? What is the average call duration before a participant reaches a real

person? Is there any way to get directly to a customer service representative?

6.4. How are participant-initiated transactions processed through the VRS/Web/Mobile? Are

confirmations sent?

6.5. Describe the level of customization available within the VRS/Web/Mobile.

6.6. What are the standard hours of operation of the VRS?

a) Toll-free access to investment information

b) Customer service representatives


6.7. Are there any transactions that cannot be processed through the VRS/Web/Mobile?

6.8. Can a participant elect to move from the VRS/Web/Mobile to a client service

representative? When and what services are available?

6.9. Please provide a demo login for us to access the participant site.

7. Communication and Education

7.1. Identify the key elements provided as part of a standard initial and on-going communication and

education program and any other elements to a communication and education program you provide for

plans with multi-site locations.

7.2. Do you offer on-site education support? Who conducts on-site education meetings? Are the

individuals who provide the education employees of your organization or do you outsource the training?

How are those individuals compensated?

7.3. Do you create communication and education materials in-house or through third parties? Can

material be customized?

7.4. Is the success of an educational campaign a component of performance measure for your

education/communication specialists? How do you measure success of educational campaigns?

7.5. Are licensed professionals available to assist participants with their account allocations?

7.6. What tools does your organization provide to assist participants with their financial health including

retirement planning, financial planning, retirement income analyzers, etc.? Is there an online tool that

can assist the participant in calculating the amount needed for retirement and how quickly he or she will

spend savings after retirement?

7.7. What tools are available to assist participants with calculating their pre-retirement catchup amount

and determining whether the pre-retirement catch up or age 50 catch up would be more suitable? How

are participants educated on the differences between the two forms of catch up provisions available?


7.8. Is investment advice available to participants? If so, who accepts fiduciary responsibility at the

participant level? Please provide detailed information about investment advice, including costs.

7.9. Are managed accounts available to participants? If so, please describe what programs are

available, including costs.

7.10. Describe any financial wellness solutions available, as well as associated costs.

7.11. Please provide a few samples of initial enrollment and on-going communication and education

materials.

7.12. Does the provision of education/advice to BWL participants result in a conflict of interest for your

organization?

7.13. In the event BWL chooses to engage your services for administration/recordkeeping only—

without education/advice package—how would program pricing be affected? Do you have experience in

working alongside participant support models that include a third-party education/advice setup if

preferred by plan sponsor? Why should BWL choose you for participant education/advice? Why would

BWL participants benefit from plan sponsor choosing to bundle these services?

8. Conversion

8.1. Please provide a draft timeline of the conversion process, including length of blackout period.

8.2. How long are assets usually out of the market during a conversion when mapping? When re-

enrolling?

8.3. Do you have any limitations as to the format/media of conversion records?

8.4. How does your system handle conversion/set-ups of pre-existing loans from another recordkeeping

system? Is there a fee to transfer pre-existing loans?


8.5. Do you have the capability to accept historical account information and load it onto your

recordkeeping system? Please describe in detail what information could be transferred (e.g. historical

account balances, beneficiaries, historical contributions) and any factor which may limit that ability.

8.6. How many plans like BWL’s have you converted in the last 12 months? In the last 24 months?

8.7. Have you recently converted any plans from the current record keeper (ICMA-RC)?

8.8. Can you recordkeep the current stable value investment option (Vantagepoint Plus Fund R10)?

8.9. Describe how you convert current and continued withdrawals.

8.10. During the blackout period, can your organization provide access to call center representatives so

they can ask questions regarding plan provisions and information about the blackout period? What

other services do you provide to participants during conversion?

9. Systems Capabilities and Hardware

9.1. Describe the hardware platform and software system you use to recordkeep and administer

defined contribution plans. If you outsource recordkeeping or utilize a software vendor, please name the

affiliation or software vendor.

9.2. What procedures are in place to protect sensitive participant data? Do you have a policy in place to

deal with cybersecurity attacks on participant accounts?

10. Investments

10.1. Do you offer the ability to build custom risk and/or age-based investment options using the

investment options offered in the plan? Is there a cost for this service?

10.2. Are there any restrictions or limitations we should be aware of when selecting investments,

including proprietary requirements?


10.3. Do you have an investment option available on your platform with similar characteristics to the

VT Retirement IncomeAdvantage fund currently offered through ICMA-RC? If so, do you have a

process in place during the conversion to carry over the income base/high water mark for participants

or make them whole in the event the income base/high water mark is higher than the current market

value? Please explain in detail.

10.4. Please explain how participants who are currently in the “lock-in” phase of the VT Retirement

IncomeAdvantage will be impacted during the conversion process.

11. Fee Schedule

11.1. What fee structures are available for overall administration (e.g. flat dollar fee per participant,

percentage of plan assets, fixed fee, mixture of per participant and asset-based fees)?

11.2. In addition to an asset-based fee quote in the table below, please quote the overall administration

fees using all possible fee structures (e.g. re-enrollment using target date funds, per participant fee

quote).

11.3. Do you have the capability to allow for fee equalization by using fee leveling, revenue sharing

crediting, or another form of equalization? If so, please describe in detail how the procedure functions.

11.4. Are you able to charge a combination of a per participant and pro rata fee to participant

accounts? (e.g. $5 per quarter plus all other fees pro rata)?

11.5. Expense Schedule:

Services (list available fee structures)

Administration Fee Summary

Participant Based Fee Structure

Asset Based Fee Structure

Fixed Fee Structure Other/Mixed

Fee Schedule $__/per participant __% of assets $______


Total Cost

Implementation Fees

Conversion Fee

Plan Document

Other

Education Costs

# of Days Included

Number of Meetings Each Day

Cost for Additional Days

Other Costs/Services Provided

Trustee Services

Eligibility Tracking and Enrollment (who is responsible for communicating eligibility to new participants?)

Distribution Fees

Loan Fees (Initial and on-going)

QDRO Distribution Processing

QDRO Determination

Hardship Distribution Processing

Hardship Determination

Annual Costs for Custom Portfolios (Are they permitted?)

# of Funds Included in Admin Fee

# or % of Proprietary Funds Required

Plan Document Amendments

Plan Document Restatements

Termination Fee

Length of Fee Guarantee

Other

Participant Mailings

Can You Prepare (Yes/No/Provide

Template)?

Responsible Party for Mailing

Additional Costs

Summary Plan Description (SPD)

Investment Change Notice


Participant Fee Disclosure Notice – Annual/Ongoing

Participant Fee Disclosure Notice – Due to Changes (e.g. fund changes)

Qualified Default Investment Alternative (QDIA) Notice

Enrollment Material

Other notices (please list)

PROPOSAL FORM Retirement and Savings Plan Administrator RFP

Proposal Form 5/28/19 Page 1 of 2

Note: This form may be completed using MS Word®

Provide the following business and contact information:

Legal Name:

Federal ID or Social Security Number:

Address:

State of Incorporation

City:

State & Zip:

Primary E-Mail:

Type of Organization: __ Corporation __ LLC __ LLP __ Sole Proprietor __ Partnership __ S-Corporation __ Other (Explain)

Office Phone:

Alternate Office Phone:

Office Fax:

Primary Contact:

Contact Phone:

Contact Fax:

Contact Mobile:

Contact E-Mail:

Website URL:

Provide responses to the following questions:

How many years has your firm been in business under the present ownership?

Have you done business with the Board of Water and Light (“BWL”)? If so, furnish specifics.

Have you done business with the City of Lansing? If so, furnish specifics.

Have you ever defaulted on a contract or been involved in litigation with the BWL or the City of Lansing? If so, furnish specifics.

Have you ever defaulted on a contract or been involved in litigation with any other client in the past five years? If so, furnish specifics.

List any relationships between your firm’s staff and any current BWL employee.

Specify your background, training, experience, credentials and other factors which qualify you to perform the work described in this RFP.

List at least three (3) references for similar work you have performed for other clients. Include clients’ name, contact name, title and phone number.

List subcontractors that you plan to use on this project.

Include any additional information you may deem helpful in evaluating your proposal.

PROPOSAL FORM Retirement and Savings Plan Administrator RFP

Proposal Form 5/28/19 Page 2 of 2

Vendors please submit your company’s Service Agreement language, as part of their Proposal submittal. (√)

Provide pricing:

Activity

Please provide your response within the Scope of Work document

Percentage of Discount for Early Invoice Payment

Note: The BWL may reimburse only for reasonable and actual, non-commuting travel and living expenses incurred while the Bidder’s personnel are engaged in the contracted work once a purchase order is issued. Automobile mileage will be reimbursed at the then current IRS rate for personal vehicles only. No mark-up will be paid on travel and lodging expenses. All expenditures of $25.00 or more require copies of receipts.

The undersigned bidder hereby acknowledges receipt of the following addenda:

Enter addenda numbers if applicable

The undersigned bidder states that this proposal is made in conformity with the Proposal Documents and agrees that, in the event of any discrepancies or differences between any conditions of their proposal and the Proposal Documents provided in the Instructions to Bidders and completed by the bidder, the provisions of the latter shall prevail. No verbal or written agreements or understandings considered or entered into prior to signing of a contract in the form of a purchase order, shall be binding after the signing of the contract unless incorporated in the contract.

The undersigned Bidder certifies that this proposal is made in good faith, upon the best information, with knowledge and accuracy, and without collusion or connection with any other person or persons submitting proposals for the work.

Company Name:

Signature:

Print Name:

Title:

Date:

END OF PROPOSAL FORM

Insurance Requirement Retirement and Savings Plan

Administration and Advisory Services RFP

CONSULTANT, at its own cost and expense, will at all times maintain insurance coverages in the minimum amounts specified herein, to protect the BWL and CONSULTANT from claims for injury or death to persons or damage to property that may in any way arise from or be occasioned by the performance of the Work. CONSULTANT is responsible for consulting with its own insurance advisors to ensure that it has adequate insurance coverage to meet the obligations of this Contract and its business operation. BWL reserves the right to require different or additional coverage as it determines necessary from time to time. CONSULTANT will furnish certificates, policies, and related documentation for all such insurance to the BWL before commencing the Work and as reasonably requested by BWL from time to time, within ten (10) Days of BWL’s written request for the certificates, policies and/or related documentation.

(a) At its own expense, CONSULTANT shall acquire and maintain in effect for the term of the Contract and/or any Contract extension, insurance providing the following coverages:

(i) Commercial General Liability Insurance on an occurrence basis. This coverage shall include Personal Injury, Contractual Liability, and Products/Completed Operations insurance. The limit of liability shall be at least $1,000,000 combined single limit for bodily injury and property damage.

(ii) Automobile liability insurance that complies with the requirements of the Michigan No-fault law, MCL 500.3101, with residual liability limit of at least $1,000,000 combined single limit for bodily injury and property damage. There shall be coverage for owned, hired, and non-owned vehicles.

(iii) Network Security & Privacy (Cyber) Insurance with an aggregate limit of liability not less than $1,000,000. Such insurance shall include coverage for claims and losses with respect to network security & privacy risks including data breaches, unauthorized access/use, ID theft, invasion of privacy, damage/loss/theft of data, degradation, downtime, forensic & notification costs, etc. The retroactive coverage date shall be no later than the EFFECTIVE DATE of this Contract. Consultant shall maintain an extended reporting period providing that claims first made and reported to the insurance company within two (2) years after termination of the Contract will be deemed to have been made during the policy period.

(iv) Worker’s compensation insurance as required by Michigan law, MCL 500.2301; and

(v) Professional Liability Insurance in an amount not less than $3,000,000;

(b) CONSULTANT shall purchase insurance from companies rated A- or better by A.M. Best and domiciled in the United States. The A.M. Best website can be found at: http://www.ambest.com.

(c) CONSULTANT shall ensure that coverage will not be canceled nor any changes made, at any given time during the term of the Contract, which alters, restricts or reduces the insurance provided or changes the name of the insured, without first giving thirty (30) days notice in writing to the Corporate Secretary, BWL, 1201 S. Washington Ave., P.O. Box 13007, Lansing, Michigan 48901.

(d) CONSULTANT shall name the “City of Lansing, by its Board of Water and Light, its employees, Board Members, and officers” as additional insureds on the automobile and commercial general

http://www.ambest.com/

liability policies. Required additional insured forms are the CG 2010 and CG 2037 10 01 or equivalent.

(e) The coverage granted to the BWL as an additional insured shall apply on a primary/non-contributory basis. The BWL’s coverage shall be excess.

(f) Deductibles and retentions shall be clearly stated on any certificate of insurance and shall be the responsibility of CONSULTANT and not the BWL.

(g) Neither the issuance of any insurance policy required by this provision, nor the minimum limits specified with respect to any insurance coverage, shall be deemed to limit or restrict in any way the liability of CONSULTANT or its subcontractors arising under or out of this Contract.

(h) BEFORE PERFORMING ANY WORK, CONSULTANT shall provide copies of the applicable insurance certificates to the person designated in the Notice to Offerors/Bidders with a copy to BWL. ANY WORK PERFORMED PRIOR TO PRESENTMENT OF AN ACCEPTABLE INSURANCE CERTIFICATE MAY NOT BE COMPENSABLE. CONSULTANT PERFORMS WORK PRIOR TO THE PRESENTMENT OF ACCEPTABLE INSURANCE CERTIFICATE AT THEIR OWN RISK.

END OF INSURANCE REQUIREMENT

Approved by BWL Legal Services – March 2019

CONFIDENTIALITY AGREEMENT – DURING PUBLIC PROCUREMENT PROCESS

In consideration of the opportunity to have necessary and relevant information for the purposes of preparing a proposal and competing for a contract award in connection with the Request for Proposal for _______________________________________, the sufficiency of which is acknowledged, Recipient, _______________________________________ (Company Name), agrees to keep certain information confidential, as follows:

1.) Confidential information is all information provided to the Recipient that is noted and clearly labeled confidential or proprietary. Oral or electronic information is also confidential if it is subsequently reduced to writing and marked as such. Information is not confidential if it is (a) publicly disclosed by the Lansing Board of Water and Light (“BWL”) through no act of Recipient, (b) received by Recipient from a third party who has the right to provide it, or (c) independently developed or known by Recipient before receipt.

2.) Recipient will keep the confidential information in confidence and, except as expressly provided in this or

another agreement between the parties, will not disclose it to anyone without the BWL’s prior written consent, or as otherwise required by law. Recipient will use its best efforts to avoid disclosure, dissemination, or unauthorized use of the confidential information, including limiting disclosure of the information to those of its employees having a need to know. Recipient will further advise those employees of the obligations of this agreement. Recipient will protect the information with the same degree of care that it uses with its own information of like importance, but in no event with less than a reasonable standard of care.

3.) If Recipient becomes legally obligated to disclose confidential information, Recipient will provide the BWL

prompt written notice so as to allow the BWL the opportunity to protect against the disclosure. Recipient will only disclose such information as is legally required and will use its reasonable best efforts to obtain confidential treatment for any confidential information so disclosed.

4.) Recipient shall promptly return all tangible material embodying confidential information (in any form

including, without limitation, all summaries, copies, and excerpts of confidential information) upon the earlier of (a) the completion or termination of the procurement consideration between the parties or (b) the BWL’s written request.

5.) This confidentiality agreement shall survive the termination of any other agreement between the parties for

a period of two years thereafter. To the extent there is no subsequent agreement follows, this confidentiality agreement shall last for approximately 6 years following the date of this agreement.

Dated: _____________________ By: _________________________________ Signature ____________________________________ Name and Title

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SWORN AND NOTARIZED AFFIDAVIT OF COMPLIANCE

IRAN ECONOMIC SANCTIONS ACT

Michigan Public Act No. 517 of 2012

All bidders must submit the following certification statement in compliance with Public Act No. 517 of

2012 (the “Iran Economic Sanctions Act”) and attach this form to the bid. The Lansing Board of Water

& Light shall not accept any bid that does not include this sworn and notarized certification of

statement.

The undersigned, the owner or authorized officer of (the Bidder),

pursuant to the compliance certification requirement provided in the Lansing Board of Water & Light

Request for Proposal, hereby certifies, represents and warrants that the Bidder (including its officers,

directors and employees) is not an “Iran linked business” within the meaning of the Iran Economic

Sanctions Act, and that in the event the Bidder is awarded a contract as a result of the aforementioned

Request for Proposal, the Bidder will not become an “Iran linked business” at any time during the course

of performing the work or any services under the contract.

Specifically, the undersigned, owner or authorized officer of __________________(the Bidder) attests it

does not fall within the following definition of a “Iran linked business” under the Iran Economic Sanctions

Act:

MCL 129.312 (e) of the Act provides:

(e) "Iran linked business" means either of the following:

(i) A person [as defined below by MCL 129.312(f)] engaging in investment activities in

the energy sector of Iran, including a person that provides oil or liquefied natural gas

tankers or products used to construct or maintain pipelines used to transport oil or

liquefied natural gas for the energy sector of Iran.

(ii) A financial institution that extends credit to another person, if that person will use

the credit to engage in investment activities in the energy sector of Iran.

MCL 129.312(f) of the Act defines “Person” as follows:

(f) "Person" means any of the following:

(i) An individual, corporation, company, limited liability company, business

association, partnership, society, trust, or any other nongovernmental entity,

organization, or group.

(ii) Any governmental entity or instrumentality of a government, including a

multilateral development institution, as defined in section 1701(c)(3) of the

international financial institutional act, 22 USC 262r(c)(3).

The Bidder further acknowledges that any person who is found to have submitted a false certification is

responsible for a civil penalty of not more than $250,000.00 or two (2) times the amount of the contract or

proposed contract for which the false certification is made, whichever is greater, the cost of the Lansing Board

of Water & Light’s investigation, and reasonable attorney fees, in addition to the fine. Moreover, any person

who submitted a false certification shall be ineligible to bid on a Request for Proposal for three (3) years from

the date it is determined that the person has submitted the false certification.

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BIDDER

STATE OF

By:

Its:

Date:

)

COUNTY OF )

This instrument was acknowledged before me on the

.

day of , 20 , by

, Notary Public

County, My

Commission Expires: Acting

in the County of:

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