A. Review of the Plan Provider’s recordkeeping, administration, fees, and revenue sharing reimbursement including: 1. Identify additional revenue generated from fund fees; 2. Provide a report identifying all fees Provider receives from fund companies, if any; 3. Verify all fees paid to Provider, including fees paid on Provider’s proprietary and nonproprietary funds. B. Review the investment lineup of County’s 457(b) and Health Savings Account, provide financial investment performance reporting, on a quarterly and annual roll up basis, to the County including: 1. Provide a cost analysis of the Plan’s expenses to compare actual investment expenses to those relative to their appropriate benchmarks and peer groups; 2. Assist the County in continuously, quarterly negotiating contractual terms including expenses of Investment Providers and offer alternative recommendations. C. Assist the County with establishing an internal advisory panel, Investment Policy Statement (IPS) and oversight/governance processes for the County’s 457(b) Plan, which will meet quarterly. D. Assist in Creating, Maintaining and Reviewing the Plan’s investment policies. 1. Review the soundness and effectiveness of the policy regarding the addition, removal, and retention of the mutual funds and investment products in the Plan. 2. Assist County with ensuring well-defined procedures in the policy are in place for the review, maintenance, and monitoring of investment funds. 3. Monitoring and updating financial investment plan design issues on a quarterly basis. E. Assist in the selection, recommendation, and oversight of third-party service investment providers (including investment managers, record keepers, trustees, independent auditors etc.) through a Request for Proposal (RFP) effort to ensure County secures a best-in-class financial investment platform and contractual terms. F. Advise the County on evaluating vendor performance and costs related to recordkeeping, enrollment, and communication services. Provide recommendations to ensure that all interested parties are fulfilling their respective fiduciary responsibilities. G. Keep the County apprised of any regulatory changes and provide assistance in implementing them on a quarterly basis. H. Provide participant education, communication strategy, investment education (financial wellness) and participant outcomes support. I. Participate in financial investment discussions with the County in preparation for Appointing Authority meetings to present financial information included in the written quarterly performance evaluation reports and answer the County's questions regarding the investment funds and administration of the Plans.
