The School Board of Broward County, Florida desires to receive proposals from qualified proposers for Retirement Plan Administration and Investment Management Services. SBBC sponsors The School Board of Broward County 401(a) FICA Qualified Alternative and Special Pay Plan. This Plan is a qualified defined contribution plan with participant-directed investments. The Plan was originally adopted effective on July 1, 1996, as a FICA Alternative Retirement Plan for SBBC’s part-time, substitute, and seasonal employees. In 1999, the Plan was amended to provide contributions of accrued and unused vacation and sick leave pay for certain other employees (referred to hereafter as “Special Pay”). In or around July 2022, SBBC outsourced the substitute teachers to a Personnel Agency and these members are no longer part of this Plan. The incumbent for the Plan’s Retirement Plan Administration and Investment Management Services is Bencor, Inc. Attachment M further describes the Plan’s Current Plan Design, and Attachment N provides the Plan’s Investment Activity for the Plan Year ending December 31, 2024 and YTD for 2025. The Proposer should be able to provide a plan design that matches all the services necessary to administer the current plan design. SBBC is seeking proposals from companies to provide investment products, administration, employee communication, and legal consultation services to support the Plan.
