The State of Connecticut is soliciting proposals for the following services: • Bundled deferred compensation services (i.e., recordkeeping/administration, communication/education, onsite support and custodial trustee services) and Stable Value investment management services for its five governmental defined contribution plans: the Deferred Compensation 457 Plan, the 403(b) Plan, the new 457(f) Plan, the Alternate Retirement Program a 401(a) Plan and the defined contribution portion of Tier IV of the State Employee Retirement System, a 401(a) Plan. The five defined contribution plans share a common investment platform the combined assets of all Plans $ $8.2 billion that covers over 100,000 eligible employees of the State. In addition to providing administrative services, the service provider will be responsible for maintaining compliance with IRS requirements and Secure Act provisions and for establishing and maintaining a financial education/communications program for the Plans’ participants and its retirees. Plan documents for all five plans are available at: www.osc.ct.gov. • An investment manager for its $2.2 billion Stable Value Fund, which is available to participants in all five defined contributions plans. The State will maintain a multimanager structure for the Stable Value Fund. Bidders are invited to bid on the Empower General Account Fund that has approximately $780 million in plan assets. Suggestions as to how the Stable Value/Fixed Account offering might be improved and to bid on managing all or a portion of the current Empower General Account fund should be included in your response in the Stable Value questionnaire section of the RFP. The final determination on the Stable Value Fund will be made by the State in the best interests of the Plans’ participants and beneficiaries.
