Specifications include, but are not limited to: ▪ Provide recordkeeping, administrative, and educational services for the City’s 457 Deferred Compensation Plan (“the Plan”). ▪ Provide recordkeeping, administrative, and educational services for the defined contribution portion of Pension Plan ’10 (“the DC Plan), as detailed in Chapter 22-1400 of the Philadelphia Code. Provide recordkeeping, administrative and educational services for the 401 (a) “Qualified Plan” component of Pension Plan ’16, with employer match, as detailed in Chapter 22- 1400 et seq. of the Philadelphia Code ▪ Offer investment options to be approved by the Board and consistent with Section 457 of the Internal Revenue Code of 1986, the Plan Document and other applicable laws. ▪ Accept from the Plan’s custodian and invest all contributions made by participants and credit any investment gains or losses to participant accounts. ▪ Maintain and abide by a payment and disbursement procedure consistent with those generally offered by similar deferred compensation and defined contribution plans and applicable federal state and local statutes governing those plans.
