Specifications include, but are not limited to:The Arizona State Retirement System (ASRS) is requesting competitive sealed proposals from qualified institutions to provide administrative and marketing services, investment products and education services for the ASRS’ Supplemental Salary Deferral Plan (ASRS SSDP) or (Plan). The Contractor will have the following flexibility with respect to responding to this competitive sealed proposal: The Contractor may elect to provide a proposal offering either a 403(b) or a 457 salary deferral plan, or both plans. The Contractor may elect to provide its pricing under any or all of the following scenarios: as if it were the sole Contractor; as if it were one of two Contractors, and, as if it were one of several Contractors. Senate Bill 1196 became effective September 30, 2009. The bill allows the ASRS to establish a supplemental salary deferral plan or plans (403(b) and/or 457) for public employees, other than State employees, to save additional tax-deferred money for retirement. Please see that portion of SB1196 as Exhibit B that addresses this benefit program. The bill also allows the ASRS to employ third-party services for the operation and administration of the plan, administer the plan through contracts with multiple vendors (if desired), perform all acts necessary and proper for the operation and protection of the plan, and enter into inter-governmental agreements, if necessary. The bill clarifies that this plan is in addition to the Defined Benefit Plan provided by the ASRS; allows an employee of an eligible participating employer to join the plan, allows employers to make payroll deductions for participating employees, clarifies that compensation deferred under the plan remains compensation for purposes of retirement benefits, and states that employee contributions and earnings are immediately vested while employer contributions, if any, are vested according to the plan. The ASRS has approximately 203,000 actively contributing members of which 157,000 are eligible to participate in this program upon employer participation. Participation in the plan is voluntary on the part of our eligible employer members. Eligible employer members consist of 10 community colleges, 160 charter schools, 77 cities and towns, 15 counties, 90 special districts and 240 public schools district. Each employer has their own payroll system and would individually determine whether an employer match to an employee’s contribution would be provided. DEFINITIONS The following Definitions supplement those set forth in the Uniform Terms and Conditions and the Uniform Instructions to Offerors: “ASRS Supplemental Salary Deferral Plan,” “SSDP,” or “Plan” means the ASRS supplemental salary deferral plan or plans (403(b) and/or 457 plan) for eligible public employees. "Board” means the Arizona State Retirement System Board of Trustees. "ASRS" means the Arizona State Retirement System. “Fully-bundled” means the administration of a governmental defined contribution plan in which the contractor performs all administrative, investment activities, and educational services for the plan, including staffing, marketing, education, enrollment, and record keeping; and offers and provides investment management services. SCOPE OF SERVICES Administrative Services. The Contractor shall provide administrative and marketing services, investment products, and education services for the SSDP.
