Section 457 Deferred-Compensation Plan

Description

Request for Proposal ("RFP") Prepared and Issued by Beaver County For Section 457 DeferredCompensation Plan 1 Beaver County is a fourth-class County located in southwestern Pennsylvania. The County has a Section 457 Deferred Compensation Plan that is voluntarily for employees and offers no matching funds by the County. It seeks an investment advisor and record keeping services to start a 457(b) retirement plan. It is possible approximately $5 million dollars might be transferred into the plan. The plan is available to all county employees in which traditionally about 80 employees participate. The County is soliciting proposals to provide custodial services, including, but not limited to providing secure possession, investment placement, reporting and distribution of a new start up 457 Deferred Compensation Plan. The scope of this RFP also includes any tasks which are reasonably related to the above areas. The County’s Defined Benefit Pension Plan is NOT part of this RFP. All interested respondents must complete answer the questions listed below and forward five (5) copies to: Nicole Long Chief Clerk 810 Third St. Beaver, PA 15009 724-770-4405 nlong@beavercountypa.gov Proposals must be received no later than 4:00 PM on March 1, 2024. The evaluation of responses to this RFP will be conducted by the County. After a thorough review, it will pass a resolution appointing/announcing the provider of services. Prior to doing so, the County may or may not request one or more personal interviews of the representatives from responding entities who will be providing services. The criteria to be used shall center upon the responder's qualifications, experience, expertise, proposed fee schedule, depth of personnel who can provide the required services, and the cumulative confidence in the successful responder. The Beaver County reserves the right to reject any or all proposals, to waive any informalities and to award the contract in the best interest of the County as it shall determine. 2 All proposals must follow the order of questions as listed below. You may provide attachments as appropriate. List your organization's complete name, address and telephone number. Also include contact information in the event that the County has specific questions on your proposal. RESPONDER'S HISTORY, OWNERSHIP AND ORGANIZATION 1.