Executive Summary
This Request for Proposal (RFP) is being issued as a matter of due diligence and fiduciary responsibility on behalf of Jefferson County Communications Center Authority, known as Jeffcom. Jeffcom’s goal, and the primary objective of this RFP, is to identify and secure a Retirement Plan (“Plan”) for our employees.
Jeffcom is a centralized 911 call taking and dispatch call center, and we expect to have approximately 150 eligible participants once we are fully staffed; we will be consolidating staff from eight (8) current Public Safety Answering Points (PSAPs). We currently have fewer than 10 employees, and expect to be bringing on greater numbers starting in September 2017, with the last conversion of employees to take place on or about April 1, 2018. Jeffcom needs to have a retirement plan in place and ready for contributions no later than January 1, 2018.
The intention of this RFP is to collect basic information about your firm, personnel, methodology, and fee structure along with your proposal to identify and secure our Retirement Plan. Jeffcom reserves the right to request additional detailed information or to arrange a meeting with your firm’s representative(s) if your responses are determined to be competitive.
Proposals become the Property of Jeffcom
Pursuant to the Colorado Open Records Act, C.R.S. §§ 24-12-201 et seq. (“Act”), all information
contained in any proposal is subject to public disclosure unless it meets one of the exceptions set forth in the Act. Jeffcom neither requests nor encourages the submission of confidential/propriety information in the response to this Request for Proposal. To avoid disclosure of trade secrets, privileged information, or confidential commercial, financial, geological, or geophysical data (“Confidential Information”), the bidder must clearly mark all Confidential Information as such. All proposals will be confidential until a contract is awarded and fully executed. At that time, all proposals and documents pertaining to the proposal will be open for public inspection, except for the material that is labeled proprietary or confidential. Pricing information will not be considered confidential/proprietary. All material submitted regarding this RFP becomes the property of the Jeffcom unless otherwise noted in this RFP.
Administrative Information
Charity Emery, PHR
Human Resources Manager
charity.emery@jeffcom911.org
303.539.9413
433 S Allison Pkwy, Suite 228
Lakewood, CO 80226
www.jeffcom911.org
Submittal
Please send six (6) hard copies of your proposal to Charity Emery at the address listed above. Proposals must be received at the mailing address listed above on or before 4:00 PM MT, July 21, 2017. No proposal shall be considered that does not comply with the stated requirements.
Questions
Any questions, interpretations, or clarifications, either administrative or technical, about this RFP must be submitted by electronic mail to Charity Emery, HR Manager at charity.emery@jeffcom911.org. Inquiries are due no later than 2:00 PM MT, July 19, 2017.
Taxes
The Jefferson County Consolidated Communications Center Authority, known as Jeffcom, is exempt from City, County, State and Federal Sales/Excise Taxes. Certificates will be issued upon request.
Schedule of Events
Schedule of Events**
RFP Issued July 7, 2017
Deadline for questions July 19, 2017 at 2:00 PM
Deadline for RFP Submittal July 21, 2017 at 4:00 PM
Notification to finalists July 7, 2017**
Finalist interviews July 10 – 21, 2017**
Notice of Award July 28, 2017**
**Subject to change
Period of Award
It is Jeffcom’s intention to have the Retirement Plan ready for contributions no later than January 1, 2018.
Evaluation and Award
All proposals submitted in response to this RFP will be evaluated, in part, on the criteria listed below. Based on the results of the initial evaluation, Jeffcom will select two to three finalists for consideration.
1. Qualifications and experience of firm
2. Qualifications and experience of key personnel
3. Quality of and ability to provide services as listed in the scope of services
4. Alignment of philosophies and business practices with Jeffcom
5. Value/cost of services
In the event that it becomes necessary to revise any part of this RFP, an addendum will be provided to all firms who received the initial RFP. This includes Jeffcom’s prerogative to amend the response date.
Any firm contemplating submitting a proposal that has concerns or questions about any part of the RFP, including comments on any specifications which it believes will limit competition may submit them via email to the HR Manager at the email address listed on page 1 of this document. Jeffcom will not be responsible for any other explanations or interpretations of the proposed documents. In case of any doubt or difference of opinion as to the true intent of the RFP, and in case of any dispute between the parties under the agreement to be entered thereunder, the decision of Jeffcom shall be final and binding.
Proposals must include all information required in order to be evaluated and considered for award. Failure to do so may be deemed sufficient cause for disqualification.
Modifications or corrections of a previously submitted proposal are to be addressed in the same manner as the original proposal and will be considered if received prior to the scheduled closing time for receipt of proposals. Oral or telephone modifications or corrections will not be accepted.
Proposals may be withdrawn at any time prior to the scheduled closing time for the receipt of proposals. This can be accomplished by written notification on firm letterhead signed by an authorized representative or in person upon presentation of appropriate identification.
Firms submitting a proposal in response to this RFP may be required to give an oral presentation of their proposal to Jeffcom. This will provide an opportunity for the firm to clarify or elaborate on the proposal but will in no way change the firm's original proposal. Oral presentations are an option of Jeffcom, and therefore, may not be requested. Accordingly, proposals should be complete as submitted.
All proposals are to be submitted as best and final offers. Each firm shall include all requirements, terms and conditions they may have, and shall not assume that an opportunity will exist to add such matters after the proposal has been submitted. Unacceptable terms and conditions may cause Jeffcom to award to another firm, despite other factors of the evaluation.
Finalists will be asked to give in-person presentations to an identified committee of Jeffcom. The presentation dates have been tentatively scheduled in the Schedule of Events section. If your firm is invited to give a presentation to Jeffcom, we will work with availability as this is a short turn-around;
however, the timeline will not be extended more than a few days from the dates given in the Schedule of Events, other than at Jeffcom’s discretion.
Contract Negotiations, Terms and Conditions
Jeffcom reserves and in its sole discretion may, but shall not be required to, exercise the following rights and options with respect to the contract negotiation and award process resulting from this RFP:
1. To enter into post-submission negotiations and discussions with any one or more firms regarding price, scope of service and/or any other term of their proposals, and such other contractual terms as Jeffcom may require, at any time prior to execution of a final contract.
2. To enter into simultaneous, competitive negotiations with multiple firms or negotiate with an individual firm. Negotiations with firms may result in the engagement or reduction of the scope of services, or change in other terms that are material to the RFP and the submitted proposals. In such event, Jeffcom shall not be obligated to inform other firms of the changes, or to permit them to revise their proposal in light thereof, unless Jeffcom, in its sole discretion, determines that doing so is in Jeffcom’s best interest.
3. To discontinue such negotiations at any time; to enter into or continue negotiations with other firms; to enter negotiations or proposals for components of the Plan, if any, that are deleted by Jeffcom from the successful proposal or the contract resulting from it.
4. Not to enter into any contract with any firm, if Jeffcom determines that such decision is in Jeffcom’s best interest.
5. To select the vendor of its choice at any time during this RFP process and may not necessarily select the lowest bid, but will select the bid that is in the best interest of Jeffcom.
Benefit Plan Options (“Plan”)
Jeffcom anticipates having an employee base of approximately 150 full-time, benefits eligible employees and a number of part-time employees who may be eligible to participate in the Retirement Plan, onboarding at two to five different dates. We currently have fewer than 10 employees, and expect to be bringing on greater numbers starting in September 2017, with the last conversion of employees to take place on or about April 1, 2018. Jeffcom expects this Retirement Plan to be set up and allow contributions by January 1, 2018.
Jeffcom intends to offer a 401(a) pre-tax pension plan with employer and employee contributions, and a 457 plan.
Benefit Plan Goals
Jeffcom’s goals for the retirement plan include, but are not limited to:
1. Identify and secure Jeffcom’s Retirement Plan, including Investment Committee, regulatory compliance, documentation and best practices;
2. Awareness of regulatory requirements and ongoing compliance;
3. Encouraging and educating employees’ investment into Jeffcom’s Retirement Plan and appropriate management of investments and funds to support retirement goals;
4. Ensuring timely and responsive customer service to Jeffcom’s Board of Directors, staff and participants;
5. Enhanced Plan communications and participant education; and
6. Promoting and supporting the use of technology for employee use and engagement.
Proposal Content
Listed below are the response requirements for this RFP. All specific response items represent the minimum information to be submitted. Please answer all items in detail and in the order presented below. Deletions or incomplete responses may, at Jeffcom’s discretion, disqualify the proposal. Proposals are required to be submitted in hard copy format no later than the date and time indicated in the Submittal section. Proposals should be prepared in such a way as to provide a straightforward, concise presentation adequate to satisfy the requirements of this RFP. Responses should emphasize the Proposer’s demonstrated capability to perform work of this type. Emphasis should be placed on completeness and clarity. Proposals shall adhere to the following format for order, organization and content.
Cover Letter
Please provide a cover letter introducing your firm, summarizing your qualifications, and detailing any exceptions to this RFP, and provide contact information in the event Jeffcom has questions regarding the RFP submittal.
Firm Information/Questionnaire:
1. Provide the firm’s full name, office address, and web-site URL. Also, provide the primary contact person’s name, telephone number, fax number and e-mail address.
2. Briefly describe the firm’s history, size and your current business focus.
3. What objectives does your firm set with respect to serving your clients?
4. Provide your firm size and employee turnover rate, and describe your plan to continue fulfilling the services requested under this RFP if the principal consultant were to leave your firm. Identify the year in which your firm was established and began providing consulting services.
5. Describe any pending plans to sell or merge your firm.
6. Describe your firm’s philosophy in the approach to investment and retirement plan consulting.
7. Please provide the financial audits from the past three years.
8. List all other governmental plans for which the firm has served, the capacity in which it served such plans, and whether each of such plans is an active account.
9. Outline the full range of investment consulting services provided by your firm, and the frequency with which they are generally provided. Please specify the frequency of in-person meetings with Jeffcom, and specify what reports are provided.
10. Identify and describe any on-line employee financial education resources or services that you provide or offer, and any additional cost to Jeffcom, and whether costs are determined by plan assets.
11. Describe the procedure you have in place that would mitigate or eliminate potential conflicts of interest.
12. Has your firm, or any member of it, been fined, disciplined and/or suspended by the SEC, any regulatory agency, or any court? If yes, please explain.
13. Describe the benefit of establishing a relationship with your firm.
14. Please provide at least three (3) references from public sector organizations that you currently work with on their retirement plans.
Personnel:
1. Provide the following information on all key personnel that would be primarily responsible for the provision of services under this RFP: names of the individuals, contact information, professional background, and experience in: mid-size employers and government agencies. Include each individual’s tenure with your firm.
2. How many accounts does each consultant in your firm handle and how often does he/she typically meet with clients? Please describe the typical interactions that the assigned consultant has with participants, human resources, and management decision-makers, such as the Jeffcom Board of Directors.
3. Describe the role the assigned consultant fulfills working with Plan participants, including enrollment and information packets. Please include a sample of an enrollment packet.
Registered Investment Advisor:
1. Do you offer RIA services? If so, do you charge a fee?
2. Do you acknowledge or work with outside RIAs? Do the fees get paid from participant accounts directly?
3. Is there an account minimum for RIA services?
4. Provide a copy of your firm’s most recent form ADV Part II, if applicable.
Investment Selection/Portfolio Construction:
1. Describe how your firm would approach the construction and selection of funds offered to our participants. Provide samples and performance history of fund and portfolio selections.
2. Provide your Investment Policy Statement.
3. Describe resources used in your investment selection process.
4. Describe resources used in your portfolio design and management process.
5. Describe the methodology used and frequency of rebalancing portfolios.
6. Discuss the depth of your team responsible for the investment selection process.
7. Do you offer brokerage accounts? If so, are there minimums?
8. Describe your firm’s practices and/or policies with revenue sharing.
Investment Monitoring:
1. Discuss how you monitor the investments on an ongoing basis and what would trigger a change. Describe how changes would be communicated to Jeffcom.
2. How often will you provide performance reporting? Include a sample report with your proposal response.
3. What are your sources for fund performance data? In bundled plans, do you leverage the Custodian’s performance reports?
4. How soon are the quarter-end reports available?
5. If different from the Investment Selection Team, discuss the depth of your team responsible for the investment monitoring process.
6. What investment menu changes have you made in the past three to five years and why?
Personnel Education/Enrollment meetings:
1. Please describe your approach to employee education, including resources available.
2. Please describe the ongoing education and resources you will provide to our employees. Provide sample(s) of presentations given and educational materials created by your firm.
3. Describe the retirement estimates/consulting that will be provided based on age and retirement goals?
4. Describe what training and resources are provided to our Human Resources staff?
Fees:
1. Please provide in detail all fees associated with the investment accounts. Please include brokerage trading fees, administrative fees, setup and implementation costs, education fees, investment
advice fees, and fees for any other services whether listed in this RFP or not that may impact Jeffcom or its participants.
Other Considerations:
1. What retiree offerings does your firm provide, such as a Retiree Health Savings (RHS) account?
2. Describe your approach to managing due diligence and fiduciary responsibility. Do your representatives receive continuing education or ongoing fiduciary training?
3. Will the firm provide fiduciary training and assist Jeffcom Board of Directors and staff with management of their fiduciary responsibilities?
4. If not already listed, please detail the process and/or tool(s) utilized by the firm to maintain meeting minutes, committee decisions, and all other documentation requirements for the Plan to maintain its fiduciary and regulatory requirements.
5. Describe any problems anticipated in the firm’s ability to conduct the services described in this
Request for Proposal.
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