The firm selected will be required to provide the services described below as minimum deliverables: Participation by the Consultant at all quarterly meetings will be required. The Consultant is expected to facilitate these meetings and provide an update on market conditions, status of the investments held by the plans, financial results, plan statistics, and other relevant topics to be disclosed to the Committee. Ad hoc meetings should be held when necessary, at the request of the committee or advisor with mutual consent. The Consultant is to provide specific investment advice and recommendations to the Committee; however, the responsibility for investment decisions of assets held in the retirement plans will be held by the trustees. The Consultant will not be granted discretionary authority or discretionary authority other than fiduciary responsibility for investment advice. Therefore, following services should be rendered at the initial point of engagement & periodically thereafter: Advise trustees concerning changes to the existing investment policy that you would consider beneficial to the continued viability and success of plans under administration. Full transparency related to revenue sharing and any other payment agreements between fund companies, Consultant, and recordkeeping firm. Analysis of various share classes available to plan participants & specific recommendations related to investment decisions. Communication with the trustees regarding selection, monitoring and replacement of investment managers and investment options offered by the retirement plans. Coordinate investment related changes with the record-keeper timely & accurately. With the support and assistance of Human Resources & Benefits staff, formulate on-going & targeted communication & education strategies, enrollment outreach & plan promotion efforts throughout the year. Act as an effective liaison between JPS & service providers to ensure highest level of service delivery, cost competitive pricing, issue resolution (when required) and new product/service recommendations to best manage JPS retirement plans. Provide periodic vendor assessment by conducting an RFI/RFP comparing plan sponsor/plan participant support from incumbent vendors to that of market leading providers. Present findings & recommendations to the Retirement Plan Committee in Fort Worth, TX. Provide JPS with information required to comply with Internal Revenue Service and Department of Labor reporting requirements for the various plans. Provide JPS with legislative, regulatory and industry updates to provide fiduciary stewardship and to assist in meeting all compliance requirements. Provide general benchmarking information related to plan design, plan fees, best practices, etc., segmenting by specific industry sector, competitor landscape and/ or relevant survey results.
