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Florida Department of Financial Services: F.A.C.T.S

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Contract Information

 

Summary

Agency Name: DEPARTMENT OF FINANCIAL SERVICES

Agency Contract ID: TR173

Long Title: Investment program for OPS employees

Vendor Name: BENCOR, INC.

Total Contract Amount: $0.00

Total Budgetary Amount: $0.00

Total Payment To Date: NA

Date of Execution: 06/28/2012

General Description: DFS is assuming this contract from DMS. The contract is for an alternative retirement income security program under the provisions of section 3121(b)(7)(F) of the Internal Revenue Code for eligible temporary and seasonal employees of the state who are compensated from appropriations for other personal services.

Main Information

Agency Contract ID: TR173

FLAIR Contract ID: D0597

Short Title: Bencor

Long Title: Investment program for OPS employees

Contract Type: Standard Two Party Agreement by Statute

Contract Status: Closed or Expired

Date of Execution: 06/28/2012

Date of Beginning: 11/10/2010

Original End Date: 11/09/2013

New Ending Date: 12/01/2015

Agency Service Area: TR

Statutory Authority: 110.1315, F.S.

Contract Involves State or Federal Financial Assistance: No

Recipient Type:

Provide for Administrative Cost: No

Provide for Periodic Increase: No

Procurement Information

Authorized Advanced Payment: No

Method of Procurement: Agency Invitation to Negotiate [s. 287.057(1)(c), F.S.]

State Term Contract ID:

Contract’s Exemption Justification: Fees are paid by participants

Agency Reference Number: ITN DMS 09/10-039

Business Case Study Done: No

Legal Challenges to Procurement: No

Outsourcing / Capital Improvements

Was the Contracted Function Previously Performed by the State: No

Was the Contracted Function Considered for Insourcing back to the State: No

Did the Vendor Make Capital Improvements on State Property: No

Budget Information

Original Contract Amount: $0.00

Total Contract Amount: $0.00

Total Recurring Budgetary Amount: $0.00

Total Non-Recurring Budgetary Amount: $0.00

Total Budgetary Amount: $0.00

Total Unfunded Amount: $0.00

As of Date: 7/26/2012

Recurring Budgetary Amount Account Code Fiscal Year Effective Date FY Cost Accumulator Agency Amendment Reference
$0.00 43-20-2-725001-43100400-00-100777-00 07/26/2012 2012-2013


No Non-Recurring Budgetary records found for this contract.

Contract Change

Change Type Amendment Amount Agency Amendment Reference Change Description Amendment Effective Date Amendment Execution Date New Ending Date
Renewal $0.00 R1 2 year renewal of contract 12/02/2013 12/02/2013 12/01/2015
Amendment $0.00 A2 Updates required for contract renewal #1 12/02/2013 12/02/2013 12/01/2015
Extension $0.00 E1 Extend length of contract 11/10/2013 10/08/2013 05/09/2014
Amendment $0.00 A1 To specify the guaranteed fixed fund rate 10/04/2013 10/04/2013 11/09/2013

Vendor

Name Line 1Name Line 2City State ZipMinority Vendor Designation
BENCOR, INC. SARASOTA FL 342360000 Non-Minority

CFDA

No CFDA Codes found for the contract.

CSFA

No CSFA Codes found for the contract.
More Deliverable Number      Commodity/Service Type Major Deliverable Method of Payment
     
ADMINISTRATIVE/CONSULTANT SERVICE; •                      The Respondent shall provide the Social Security Alternative Retirement Plan ... No Cost
     
ADMINISTRATIVE/CONSULTANT SERVICE; Respondent shall possess and maintain a plan approval letter from the IRS indicating the Respondent'... No Cost
     
ADMINISTRATIVE/CONSULTANT SERVICE; Respondent must accept fund transmittal via BOSP consolidated vendor system. No Cost
     
ADMINISTRATIVE/CONSULTANT SERVICE; Respondent must be licensed by all federal and state authorities that regulate investment products. No Cost
     
ADMINISTRATIVE/CONSULTANT SERVICE; Annual statements will be mailed directly to the home of the participant. No Cost
     
ADMINISTRATIVE/CONSULTANT SERVICE; Respondent must maintain a clear background investigation from SEC, state insurance regulators and o... No Cost
     
ADMINISTRATIVE/CONSULTANT SERVICE; Daily back-ups are performed of payroll files and sent off site. No Cost
     
ADMINISTRATIVE/CONSULTANT SERVICE; Account summary reports are provided to the employer sponsor and trustee at the frequency requested ... No Cost
     
ADMINISTRATIVE/CONSULTANT SERVICE; Provides administrative services, trust services, record keeping services, education and investment ... No Cost
     
ADMINISTRATIVE/CONSULTANT SERVICE; All transactions are processed within the appropriate timeframes. All remittances; transfers and inv... No Cost
     
ADMINISTRATIVE/CONSULTANT SERVICE; BENCOR, Inc. maintains an Internal Revenue Service (IRS) pre-approved volume submitter plan that is ... No Cost
 Displaying 1 to 11 of 11    


Payments are also referred to as expenditures (creating or incurring a legal obligation to disburse money) or disbursements (the payment of expenditures). Payments include disbursements and accounting adjustments made on a contract. Payments are always positive amounts while accounting adjustments may be positive or negative depending on the type of adjustment.
  

If a payment or adjustment to a contract was made before July 1, 2012, the information may not be posted in this system.

Contract Documents


Click on the pdf icon or Agency Document Link to view the document
Document Type Document Reference # Executed Date Document Add Date Agency Document Link View
Original Contract Original Contract - D0597 06/28/2012 2/22/2013 10:12:30 AM
Amendment A1 10/04/2013 10/9/2013 9:35:37 AM
Amendment A2 12/02/2013 12/18/2013 3:51:32 PM
Extension E1 10/08/2013 10/9/2013 4:32:44 PM
Renewal R1 12/02/2013 12/18/2013 3:51:05 PM


Audit results posted prior to June 30, 2012, appear in a summarized form. As of July 1, 2012, the audit reporting process was expanded to include additional questions and comments from the Bureau of Auditing. As audits are captured in electronic format, they will be posted to this system. If you are interested in seeing audit reports by Fiscal Year and Agency Action Plans, please click here to navigate to the Transparency Florida Contract Audit page.

  • No audits have been conducted on this contract at this time.
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