Specifications include, but are not limited to: A. Advisor/Consulting Capabilities 1. Describe the retirement plan consulting services provided by your firm. 2. Detail your client service philosophy. 3. Identify the person(s) who will work with the Committee and provide biographies for each. Describe the working process and coordination of service between your organization, our provider and the Committee. B. Investment Advisory Services 1. Describe the expertise and breadth of your full-time investment research and systems staff. 2. Describe your investment consulting philosophy and research capabilities. Indicate whether your research systems and recommendations are proprietary or provided by a third party or by subscription. Do you use a specific scoring system? Proprietary, purchased or subscription? Identify to what extend you incorporate quantitative data and qualitative fund information in your analysis. Describe the evaluation criteria and provide sample reports. 3. Describe your firm's investment selection and monitoring process. How often are funds reviewed? 4. Indicate whether your firm provides the investment policy statement, committee charter, meeting minutes. 5. Confirm whether you will provide specific Committee investment advice? Participant advice? 6. Provide examples demonstrating your ability to rank and analyze stable value, target date and asset allocation products. Will your research group provide and update the asset model recommendations? 7. Describe the degree of access and frequency of contact your investment research specialists maintain with fund companies and fund managers. 8. When and what action will your firm take in the event of a fund variance or watch event. Identify your process of recommendation to add, replace or freeze a fund resulting from a "poor score." 9. Please provide examples of how your organization communicates and coordinates ongoing services and data exchanges with our current provider. C. Fiduciary Risk Management 1. What plan sponsor fiduciary support, tools and process do you provide to help plan sponsors meet and maintain their fiduciary responsibilities? 2. Describe the training and compliance resources available to provide guidance or advice to Plan Fiduciaries regarding their duties to the Plans and participants. D. Benchmark Capabilities Vendor Search / Industry Knowledge 1. Provide a description or organization chart identifying dedicated industry and benchmark resources. 2. Describe your fee and service benchmarking capabilities. Do you maintain a proprietary current provider and fee data base? If not, do you subscribe to or have access to benchmarking tools? Identify these relationships and systems. 3. To what extent can your organization provide leverage or negotiation support during contract negotiations with our current provider? With an alternate provider of choice? 4. How many fee and benchmark projects did you complete in 2021 and 2022? How many recordkeeping/product providers are currently in use among your existing clients? 5. Describe your recordkeeper search RFP service and process. 6. How many recordkeeper search RFP projects did you complete in the last 36 months for DC plans your firm supports? 7. Identify your working relationship and monitoring program for recordkeeping/product providers: assigned consulting representatives, onsite interviews, phone updates, database updates, industry ratings or other methods used to remain current and test provider fees and service quality.
