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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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A meeting with all Investment Provider state managers and their lead operations manager will be held...
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No Cost
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| Major Deliverable: A meeting with all Investment Provider state managers and their lead operations manager will be held on a semi-annual basis at the Bureau of Deferred Compensation each contract year. The meetings described in G above will be held during the same week. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: semi-annual review |
| Financial Consequences: Failure to comply with G. and H. above will result in a $200.00 service level credit for each meeting missed. |
| Source Documentation Page Reference: Page 30 |
| Deliverable Number: |
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Investment advice
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A Participant toll-free telephone support line shall be operational and available for testing. The ...
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No Cost
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| Major Deliverable: A Participant toll-free telephone support line shall be operational and available for testing. The line must be staffed with a sufficient number of qualified representatives to the Program who are appropriately credentialed and well-trained in all aspects of the State of Florida's 457(b) Program. The telephone number must be TDD/TTY capable. There shall also be a facility for Spanish telephone services . Representatives shall be able to enroll Participants, answer Participant's specific account questions, make changes to the Participant's account or counsel the Participant as to how to have changes made, and shall explain any and all plan education materials. Participants initiating transactions via client service representatives shall receive a written confirmation, which shall be mailed to the address on file for the Participant within two business days. All calls shall be recorded for quality assurance and be available for review by the Bureau following 24 hours notice. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: daily review |
| Financial Consequences: termination |
| Source Documentation Page Reference: Page 29 |
| Deliverable Number: |
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Investment advice
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Account Summary File - The Investment Providers furnishes the Record Keeper an electronic Account Su...
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No Cost
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| Major Deliverable: Account Summary File - The Investment Providers furnishes the Record Keeper an electronic Account Summary File each business day (Tuesday-Saturday) by 6 AM EST. The Record Keeper uses this file to update the daily Participant balances on their system. These daily balances are reflected on the State of Florida website, which is hosted by the Record Keeper. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: daily review |
| Financial Consequences: TERMINATION |
| Source Documentation Page Reference: Page 20 |
| Deliverable Number: |
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Investment advice
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All client representatives that have contact with the States Deferred Compensation participants must...
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No Cost
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| Major Deliverable: All client representatives that have contact with the States Deferred Compensation participants must attend senior suitability training and be certified. |
| 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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All Investment Providers must clear their payroll discrepancy reports by the end of the next month. ...
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No Cost
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| Major Deliverable: All Investment Providers must clear their payroll discrepancy reports by the end of the next month. This report is sent to the Investment Providers operation staff by the State for each Participant payday. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: monthly review |
| Financial Consequences: Failure to clear 100% of the report by the end of the next month will be a service level credit of $100.00 a day until the report is cleared. |
| Source Documentation Page Reference: Page 27 |
| Deliverable Number: |
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Investment advice
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Benefit Payment File - (BENPAY) - Investment Providers provides a Benefit Payment file (BENPAY) to R...
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No Cost
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| Major Deliverable: Benefit Payment File - (BENPAY) - Investment Providers provides a Benefit Payment file (BENPAY) to Record Keeper by the 10th business day of each month. The Record Keeper compares the current months BENPAY file to the prior BENPAY files to determine those Participants who have Started, Stopped, or changed distribution amounts on a monthly, quarterly, semi-annual or annual basis. This report is due to Bureau by the 15th business day of the month. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: monthly review |
| Financial Consequences: TERMINATION |
| Source Documentation Page Reference: Page 21 |
| Deliverable Number: |
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Investment advice
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Each Investment Provider shall communicate with its participants quarterly that have stopped deferri...
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No Cost
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| Major Deliverable: Each Investment Provider shall communicate with its participants quarterly that have stopped deferring to help the Participant decide whether or not the Participant should resume contributions (quarterly information will be provided to the Investment Provider by the Bureau). |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: quarterly review |
| Financial Consequences: TERMINATION |
| Source Documentation Page Reference: Page 15 |
| Deliverable Number: |
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Investment advice
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Each Investment Provider will provide a website solely for the Deferred Compensation Program and wil...
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No Cost
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| Major Deliverable: Each Investment Provider will provide a website solely for the Deferred Compensation Program and will be responsible for providing correct and current information and maintenance of this site. This site shall include: Participant account balances and transaction history, available fund options, performance information for investment products including daily share or unit prices and investment performance history for individual employee accounts, all fund expenses, investment strategies, benefits of tax-deferred investing, free on-line financial educational tools, information on financial literacy, and other areas pertinent to retirement planning; A tool for suggested portfolio allocations, ?real-time? market quotes, essential topics such as the basics of investing, retirement planning concepts, any pertinent tax-law changes, and a glossary of commonly used investment terms. Allow a Participant to enroll in the plan and make allocation, deferral and demographic changes. |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: daily review |
| Financial Consequences: termination |
| Source Documentation Page Reference: Page 29 |
| 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 Specialist's F...
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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 Specialist's 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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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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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 Keeper?s system. EPAFs originate daily from the different Investment Providers that provide Participant data and investment services to Department. Notifications of Record Keeper?s 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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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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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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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 Provider?s 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 |
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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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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 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 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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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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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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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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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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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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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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