BANKING-3930 - USA (Harris, Texas) - Financial Advisor 457 Defined Contribution Consultant Services - Deadline February 3,2022

Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID: BANKING-3930

Government Authority located in Harris, Texas; USA based organization looking for expert vendor for financial advisor 457 defined contribution consultant services.

[A] Budget: Looking for Proposals

[B] Scope of Service:

Vendor needs to provide regulatory compliance and consulting on investments in the Plans for eligible employees and retirees (including their eligible spouses and dependents) to the government authority located in Harris, TX.
1. Advisor is expected to provide guidance with respect to plan design optimization, Investment Guideline review, communication/education strategies along with recommendations related to new fund line-up selection.
2. Participation by the Advisor at all meetings will be required. The Advisor is expected to help facilitate these meetings and provide an update on market conditions, status of the investments held by the Plans, financial results, and other relevant topics to be disclosed to the Committee. Ad hoc meetings may be held when necessary, at the request of the Committee or Advisor with mutual consent.
3. The Advisor 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 Committee. The Advisor will not be granted discretionary authority or discretionary authority other than fiduciary responsibility for investment advice. Therefore, the following services should be rendered at the initial point of engagement & periodically thereafter:
a. Advise the Committee concerning changes to the existing investment guidelines that you would consider beneficial to the continued viability and success of plans under administration.
b. Full transparency related to revenue sharing and any other payment agreements between fund companies and Advisor.
c. Analysis of various share classes available to plan participants & specific recommendations related to investment decisions.
d. Communication with the Committee regarding selection, monitoring and replacement of investment managers and investment options offered by the retirement plans.
e. Coordinate investment related changes with the record-keeper timely & accurately.
4. With the support and assistance of Human Resources & Benefits staff, formulate on-going & targeted communication & education strategies.
5. Act as an effective liaison between the Committee and service providers to ensure highest level of service delivery, cost competitive pricing, issue resolution (when required) and new product/service recommendations to best manage the Plans.
6. If requested, assist the Committee in conducting an RFI/RFP comparing plan sponsor/plan participant support from incumbent vendors to that of market leading providers. Present findings & recommendations to the Committee.
7. Provide the Committee with information required to comply with Internal Revenue Service and Department of Labor reporting requirements for the various plans, if needed.
8. Provide the Committee with legislative, regulatory and industry updates to provide fiduciary stewardship and to assist in meeting all compliance requirements.
9. Provide general benchmarking information related to plan design, plan fees, best practices, etc., segmented by specific industry sector, competitor landscape and/ or relevant survey results.

[C] Eligibility:

- Onshore (USA Organization Only);

[D] Work Performance:

Performance of the work will be Offsite. Vendor needs to carry work in their office location.

Expiry Date : Thursday, 3 February, 2022

Category : Banking Services

Country : USA

State : Texas

RFP Expired

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