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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: TR206

Long Title: SS Alternaive Retirement Income Security Program

Vendor Name: VALIC

Total Contract Amount: $0.00

Total Budgetary Amount: $0.00

Total Payment To Date: NA

Date of Execution: 01/06/2017

General Description: The Department of Financial Services contracts with a vendor to provide investment, administration and record keeping services for the alternative retirement income security program (FICA Alternative Program) established pursuant to section 110.1315, Florida Statutes, in accordance with Section 3121(b)(7)(F) of the Internal Revenue Code for the State's eligible temporary, part-time, and seasonal employees of the State who are compensated from appropriations for Other Personal Services.

Main Information

Agency Contract ID: TR206

FLAIR Contract ID: D1088

Short Title: OPS Plan

Long Title: SS Alternaive Retirement Income Security Program

Contract Type: Standard Two Party Agreement by Statute

Contract Status: Active

Date of Execution: 01/06/2017

Date of Beginning: 01/06/2017

Original End Date: 01/05/2022

New Ending Date: 01/05/2027

Agency Service Area: TR

Statutory Authority: FS 110.1315

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 Request For Proposals [s. 287.057(1)(b), F.S.]

State Term Contract ID:

Contract’s Exemption Justification:

Agency Reference Number: DFS TR RFP 15/16-17

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: 1/20/2017

No Recurring Budgetary records found for this contract.

Non-Recurring Budgetary Amount Account Code Fiscal Year Effective Date FY Cost Accumulator Agency Amendment Reference
$0.00 01/13/2017 2016-2017

Contract Change

Change Type Amendment Amount Agency Amendment Reference Change Description Amendment Effective Date Amendment Execution Date New Ending Date
Renewal $0.00 R3A3 Renewal 3 Amendment 3 01/06/2024 01/10/2024 01/05/2027
Renewal $0.00 R2A2 Renewal 2 01/06/2023 01/05/2023 01/05/2024
Renewal $0.00 R1A1 Renewal 10/19/2021 10/19/2021 01/05/2023

Vendor

Name Line 1Name Line 2City State ZipMinority Vendor Designation
VALIC AIG RETIREMENT SERVICES TAMPA FL 336070000 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
     
Investor relations services or programs To verify that the tasks identified as deliverables have been performed, the Contractor shall provid... No Cost
     
Investor relations services or programs The Contractor shall maintain and provide to the Department information associated with a Participan... No Cost
     
Investor relations services or programs The Contractor shall provide to the Department an annual distribution report that includes each Term... No Cost
     
Investor relations services or programs The Contractor shall provide an annual statement to the Participant within ten (10) business days af... No Cost
     
Investor relations services or programs The Contractor shall perform a daily back-up of the Program data and provide off-site encrypted data... No Cost
     
Investor relations services or programs To verify that the tasks identified as deliverables have been performed, the Contractor shall provid... No Cost
     
Investor relations services or programs The Contractor shall identify the amount of the State’s total payroll tax savings and submit this in... No Cost
     
Investor relations services or programs The Contractor shall provide a Program website for Participants. See section 11 for additional info... No Cost
     
Investor relations services or programs The Contractor shall provide educational services on a continuous basis for OPS employees. Educatio... No Cost
     
Investor relations services or programs The Contractor shall provide enrollment documents to each State agency human resource staff electron... No Cost
     
Investor relations services or programs The Contractor shall offer a selection of diversified investment products. See Section 13 below No Cost
     
Investor relations services or programs The Contractor shall submit a monthly report that identifies: ·      the number of Participants wi... No Cost
     
Investor relations services or programs The Contractor shall provide to the Department an electronic confirmation after payroll contribution... No Cost
 Displaying 1 to 13 of 13    


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 - D1088 01/06/2017 1/27/2017 12:50:23 PM
Renewal R1A1 10/19/2021 2/16/2022 2:51:04 PM
Renewal R2A2 01/05/2023 1/5/2023 2:36:01 PM
Renewal R3A3 01/10/2024 1/11/2024 8:37:50 AM


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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