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Deliverable Number
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Commodity/Service Type
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Major Deliverable
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Method of Payment
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Investment advice
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The vendor shall on a daily basis: date stamp all incoming forms; review each form for accuracy and...
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No Cost
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| Major Deliverable: The vendor shall on a daily basis: date stamp all incoming forms; review each form for accuracy and completeness; enter all data on the form including address changes into their system and transmit participant data electronically to the RK system; and store all documents and participant changes for the life of the contract. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: daily review |
| Financial Consequences: TERMINATION |
| Source Documentation Page Reference: Page 16 |
| Deliverable Number: |
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Investment advice
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The Investment Provider's educational role will include, but not be limited to: distributing educati...
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No Cost
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| Major Deliverable: The Investment Provider's educational role will include, but not be limited to: distributing educational materials, providing free retirement planning financial and educational tools and on-line advice, and offer financial planning guidance on matters such as investment diversification, investment risks, investment costs, and proper asset allocation. Investment advice shall consist of thorough and balanced recommendations, and shall adhere to Exhibit D. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: daily review |
| Financial Consequences: TERMINATION |
| Source Documentation Page Reference: Page 15 |
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Investment advice
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Statements shall be mailed to the Participant by the 10th business day of the following quarter.
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No Cost
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| Major Deliverable: Statements shall be mailed to the Participant by the 10th business day of the following quarter. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: quarterly review |
| Financial Consequences: Failure to mail the Participant quarterly statements within 10 business days after the end of the quarter will result in a daily service level credit of $100 until the statements are mailed. |
| Source Documentation Page Reference: Page 28 |
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Investment advice
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Specialists that have received a Deferred Compensation issued badge are required to attend an annual...
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No Cost
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| Major Deliverable: Specialists that have received a Deferred Compensation issued badge are required to attend an annual training meeting by the Bureau. Failure to do so will result in a $100.00 daily service level credit until the training has been completed. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: daily review |
| Financial Consequences: $100.00 per day if report is late |
| Source Documentation Page Reference: Page 26 |
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Investment advice
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Schedule of Plan Assets - Bureau provides the Schedule of Plan Assets as of June 30th, which is due ...
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No Cost
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| Major Deliverable: Schedule of Plan Assets - Bureau provides the Schedule of Plan Assets as of June 30th, which is due by July 15th. The Bureau request and gathers the appropriate asset data from each Investment Provider to complete the Schedule of Plan Assets. The asset information is entered into one spreadsheet which displays the following asset categories for each Investment Provider. Failure to submit a complete and accurate report will result in a $100 service level credit each day the report is late and/or not accurate. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: annual review |
| Financial Consequences: $100.00 per day if report is late |
| Source Documentation Page Reference: Page 23 |
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Investment advice
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Quarterly investment information shall be sent to the Bureau 5 business days after the end of the qu...
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No Cost
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| Major Deliverable: Quarterly investment information shall be sent to the Bureau 5 business days after the end of the quarter that will list the mutual funds your company offers, the Morningstar category, the Morningstar 5 year rating, ticker symbol, inception date, 1, 3,5,10 year historical rates (include fees in the returns) and Morningstar's comparative indexes and fees. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: quarlterly review |
| Financial Consequences: Failure to submit the quarterly investment information on time will result in a $100.00 daily service level credit until the information is submitted to the Bureau. |
| Source Documentation Page Reference: Page 27 |
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Investment advice
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Plan Audit Report Responses - Once the Plan Audit Report has been submitted to the Investment Provid...
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No Cost
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| Major Deliverable: Plan Audit Report Responses - Once the Plan Audit Report has been submitted to the Investment Providers, a detailed explanation of any discrepancies must be returned to the Record Keeper within 10 calendar days. The Bureau must then reconcile those explanations to the discrepancies originally reported on the Plan Audit Report. That information is then collated into the Plan Audit Report Response, and submitted to Bureau. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: monthly review |
| Financial Consequences: Failure to do so will result in a $100 daily service level credit until the corrected report is received by the Record Keeper. |
| Source Documentation Page Reference: Page 23 |
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Investment advice
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Plan Audit Report - The Plan Audit Report is created on a monthly basis by the Record Keeper from th...
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No Cost
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| Major Deliverable: Plan Audit Report - The Plan Audit Report is created on a monthly basis by the Record Keeper from the data that is reported on the Monthly Value Files that is received from the each of the Investment Providers. This report, which is due 15 business days after the receipt of the MOVAL files, reflects the transaction activity amounts and then identifies any discrepancies between the total amounts reported on the MOVAL files and the individual amounts that is on the MOVAL files. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: monthly review |
| Financial Consequences: TERMINATION |
| Source Documentation Page Reference: Page 22 |
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Investment advice
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Participant Data Collection - The Record Keeper maintains an electronic communications system which ...
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No Cost
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| Major Deliverable: Participant Data Collection - The Record Keeper maintains an electronic communications system which allows Participant data entry directly from the Record Keeper, the IPs and the Bureau. This system supports the functions of new Participant enrollment, current Participant individual account changes and individual Participant account data reconciliation between the Record Keeper, Bureau and Investment Providers. The data driver of this system is the Electronic Participant Action Form (EPAF), which provides for the transition of Participant data from a hardcopy environment, or on-line entry into and electronic file. The structure and transaction of this electronic data is provided in a format acceptable to the Department. The EPAF system provides Participant data, which is current as of the prior business day. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: daily review |
| Financial Consequences: TERMINATION |
| Source Documentation Page Reference: Page 19 |
| Deliverable Number: |
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Investment advice
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Offer a full array of investment products for the DC programs participants
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No Cost
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| Major Deliverable: Offer a full array of investment products for the DC programs participants |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: daily review |
| Financial Consequences: TERMINATION |
| Source Documentation Page Reference: page 9,10,11 |
| Deliverable Number: |
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Investment advice
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Monthly Valuation File (MOVAL) - Record Keeper shall receive from Investment Providers and maintain ...
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No Cost
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| Major Deliverable: Monthly Valuation File (MOVAL) - Record Keeper shall receive from Investment Providers and maintain an all-inclusive up-to-date Plan-level Valuation File in the form established by the Record Keeper. All information in the MOVAL File is the property of the State and shall be available to the Bureau at any time. All Deferred Compensation Plan records are confidential and are exempt from the provisions of Section 119.07(1) as cited in Section 112.215(7), Florida Statutes. The Investment Providers will furnish a MOVAL file to the Record Keeper by the 5th business day of the following month to be utilized in preparing the monthly summary reports. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: monthly review |
| Financial Consequences: TERMINATION |
| Source Documentation Page Reference: Page 20 |
| Deliverable Number: |
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Investment advice
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Monthly each Investment Provider will communicate with their Participants that have terminated their...
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No Cost
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| Major Deliverable: Monthly each Investment Provider will communicate with their Participants that have terminated their employment in the prior month to insure that the Participant makes an informed decision as to whether to leave their 457(b) assets in the Deferred Compensation Program. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: monthly review |
| Financial Consequences: TERMINATION |
| Source Documentation Page Reference: Page 15 |
| Deliverable Number: |
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Investment advice
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Loan File Exchange - Record Keeper provides access to their FTP server to both the Investment Provid...
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No Cost
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| Major Deliverable: Loan File Exchange - Record Keeper provides access to their FTP server to both the Investment Provider?s and Bureau for the monthly loan files to be submitted and retrieved. The loan files are submitted by the Investment Provider before or on the fifth business day of the month. A notification will be sent out to the Investment Providers to verify the receipt of the Loan files. Another notification will be sent out to Bureau to advise that the files have been placed out on their FTP directory. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: monthly review |
| Financial Consequences: termination |
| Source Documentation Page Reference: Page 23 |
| Deliverable Number: |
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Investment advice
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It is encouraged that each Proposer employ a sufficient number of field (industry standard) and/or p...
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No Cost
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| Major Deliverable: It is encouraged that each Proposer employ a sufficient number of field (industry standard) and/or phone representatives to effectively service the State of Florida Plans Participants, and be available 7:00-7:00 Eastern Time to respond to the Participants. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: daily review |
| Financial Consequences: TERMINATION |
| Source Documentation Page Reference: Page 16 |
| Deliverable Number: |
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Investment advice
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Investment providers must enroll 1,200 new participants to the Plan per year.
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No Cost
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| Major Deliverable: Investment providers must enroll 1,200 new participants to the Plan per year. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: annual review |
| Financial Consequences: TERMINATION |
| Source Documentation Page Reference: Page 17 |
| Deliverable Number: |
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Investment advice
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Investment Provider shall furnish the State a performance bond in the amount of $500,000.00 written ...
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No Cost
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| Major Deliverable: Investment Provider shall furnish the State a performance bond in the amount of $500,000.00 written by an insurance company licensed to do business within the State guaranteeing the performance by Investment of the terms of this ITN. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: annual review |
| Financial Consequences: TERMINATION |
| Source Documentation Page Reference: Page 27 |
| Deliverable Number: |
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Investment advice
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Investment Provider shall furnish annually to the State no later than March of each year, a certific...
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No Cost
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| Major Deliverable: Investment Provider shall furnish annually to the State no later than March of each year, a certification as to the continued correctness of its programs requirements. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: annual review |
| Financial Consequences: TERMINATION |
| Source Documentation Page Reference: Page 27 |
| Deliverable Number: |
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Investment advice
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Investment Provider shall at all times maintain a fidelity bond in the amount of 10% of the Plan ass...
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No Cost
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| Major Deliverable: Investment Provider shall at all times maintain a fidelity bond in the amount of 10% of the Plan assets invested with Investment Provider under the Plan at the beginning of each calendar year. The Investment Provider is responsible for paying any deductible associated with the bond. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: annual review |
| Financial Consequences: TERMINATION |
| Source Documentation Page Reference: Page 27 |
| Deliverable Number: |
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Investment advice
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Formal, in-person portfolio, operation and administrative reviews will be conducted on a semi-annual...
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No Cost
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| Major Deliverable: Formal, in-person portfolio, operation and administrative reviews will be conducted on a semi-annual basis with Investment Providers at the Bureau in February and August of each contract year. Prior to each semi-annual review, Investment Providers will be given a list of the subjects that will be discussed and responses expected from the Investment Providers. All Investment Provider investment analysts must be present as well as the Investment Providers State of Florida manager. The investment analyst as well as the state manager must be available to the Bureau during normal business hours, during working hours to contact. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: semi-annual review |
| Financial Consequences: $200.00 per missed meeting |
| Source Documentation Page Reference: Page 30 |
| Deliverable Number: |
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Investment advice
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Final Investment Provider payroll file - After all actual deferral files for the pay cycle have been...
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No Cost
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| Major Deliverable: Final Investment Provider payroll file - After all actual deferral files for the pay cycle have been reconciled by the Record Keeper, Bureau, Investment Provider, and the pay centers, the Record Keeper will send each Investment Provider an electronic final payroll file to notify them of the pending deferral amounts for the pay cycle, which will be wired to them by the Bureau. The Participant deferrals must be invested, as directed by the Participant, on the same day the Investment Provider receives the Participant's contributions. These files are only generated after the Bureau has given the Record Keeper approval that each of the pay centers amounts are equal to the what the Record Keeper had previously reported to Bureau. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: monthly review |
| Financial Consequences: TERMINATION |
| Source Documentation Page Reference: Page 19 |
| Deliverable Number: |
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Investment advice
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EPAF Confirmation Report - The Record Keeper submits an EPAF Confirmation report on a daily basis, b...
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No Cost
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| Major Deliverable: EPAF Confirmation Report - The Record Keeper submits an EPAF Confirmation report on a daily basis, back to the Investment Providers once the EPAF files have been validated and processed on the Record Keeper system. The EPAF Confirmation report is a summary of the transactions that were accepted, and/or rejected. If Investment Provider does not submit an EPAF file or if the EPAF file contains no data, a report will not be generated. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: daily review |
| Financial Consequences: TERMINATION |
| Source Documentation Page Reference: Page 19 |
| Deliverable Number: |
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Investment advice
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EPAF Exception Report - Record Keeper submits an EPAF Exception report to the Investment Providers w...
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No Cost
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| Major Deliverable: EPAF Exception Report - Record Keeper submits an EPAF Exception report to the Investment Providers when any data on the EPAF file is rejected. The EPAF Exception report will contain an error message describing the cause of the rejection. It is the Investment Provider?s responsibility to review and correct all rejections on the EPAF Exception report and resubmit the correct data the following day. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: daily review |
| Financial Consequences: TERMINATION |
| Source Documentation Page Reference: Page 19 and 20 |
| Deliverable Number: |
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Investment advice
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Electronic Participant Action Form (EPAF) - Each of the Investment Providers furnishes the Record Ke...
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No Cost
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| Major Deliverable: Electronic Participant Action Form (EPAF) - Each of the Investment Providers furnishes the Record Keeper an EPAF file each business day by 6 AM EST. The EPAF file transfer process is used by the Record Keeper to pass Participant transaction information to Record Keepers system. EPAFs originate daily from the different Investment Providers that provide Participant data and investment services to Department. Notifications of Record Keepers receipt of the EPAF files are emailed to the Investment Providers. The information from the EPAF will be extracted, validated and used to trigger the appropriate Record Keeper transactions. Transactions activated by the EPAF and posted by the Record Keeper are provided back to the Investment Providers in a conformation and exception file of the EPAF transactions both accepted and rejected. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: daily review |
| Financial Consequences: TERMINATION |
| Source Documentation Page Reference: Page 19 |
| Deliverable Number: |
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Investment advice
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Each Specialist shall have received from the Administrator an identification badge accompanied by an...
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No Cost
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| Major Deliverable: Each Specialist shall have received from the Administrator an identification badge accompanied by an authorization letter. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: daily review |
| Financial Consequences: TERMINATION |
| Source Documentation Page Reference: Page 17 |
| Deliverable Number: |
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Investment advice
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Each Specialist must hold and present upon request to the Administrator a copy of the Specialists Fl...
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No Cost
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| Major Deliverable: Each Specialist must hold and present upon request to the Administrator a copy of the Specialists Florida resident or nonresident Life and Variable Annuity License, FINRA registration, FBI background check to conduct Deferred Compensation business in a branch location registered with the State of Florida Department of Financial Services. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: daily review |
| Financial Consequences: TERMINATION |
| Source Documentation Page Reference: Page 17 |
| Deliverable Number: |
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