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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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01
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Investment advice
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Daily Transactional Confirmation
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No Cost
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| Major Deliverable: Daily Transactional Confirmation |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: Per paragraph A of Section 6, Participant Forms and Procedures, and paragraph G of Section 9, Required Special Reports to the Contract Manager, each Business Day, the Contractor shall confirm with the Department all transaction requests submitted by the Department on the prior day have been completed or rejected. |
| Financial Consequences: $250 per Business Day after the due date |
| Source Documentation Page Reference: SOW Pg 24 |
| Deliverable Number: 01 |
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02
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Investment advice
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Monthly Balance Updates
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No Cost
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| Major Deliverable: Monthly Balance Updates |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: Per paragraph B of Section 9, Required Special Reports to the Contract Manager, the Contractor shall submit a detailed list of fund balances and assets under management. This shall include details about market gain/loss, contributions, distributions, and any other activities that impact fund balances. |
| Financial Consequences: $100 per Business Day after the due date |
| Source Documentation Page Reference: SOW Pg 24 |
| Deliverable Number: 02 |
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03
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Investment advice
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Fund Replacement Response
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No Cost
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| Major Deliverable: Fund Replacement Response |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: Per Section 3, Investment Products and Services, and the most current version of Form DFS-J3-1541, State of Florida Employees Deferred Compensation Plan Investment Policy for Product Selection and Retention, which is adopted in Rule 69C-6.003, F.A.C., the Contractor shall respond to all requests by the Department to add or replace investments in writing. Such response shall indicate the Contractors acceptance and willingness to offer the investment, provide an implementation timeline, and include a sample copy of any proposed Participant notice communication. |
| Financial Consequences: $250 per Business Day after the due date |
| Source Documentation Page Reference: SOW Pg 24 |
| Deliverable Number: 03 |
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04
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Investment advice
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Complaint Resolution
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No Cost
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| Major Deliverable: Complaint Resolution |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: Per paragraph T of Section 7, Account Representatives, and paragraph H of Section 8, Toll Free Telephone Support Line and TSL Employees, the Contractor shall track and respond to Department in writing with substantive information about the initiation and resolution of any Participant complaint made to the Contractor regarding services, products, or materials. |
| Financial Consequences: $25 per Business Day after the due date |
| Source Documentation Page Reference: SOW Pg 24 |
| Deliverable Number: 04 |
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05
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Investment advice
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Quarterly Statement
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No Cost
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| Major Deliverable: Quarterly Statement |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: Per Section 11, Quarterly Statements, the Contractor shall cause to be delivered to each Participant a statement of account activity for the preceding quarter. Account activity shall include fees, contributions, distributions, loan transactions, and market gain/loss. Statement shall also include a conspicuous statement of the primary and contingent Beneficiary designations and provide instructions should an account have no Beneficiary designation. |
| Financial Consequences: $1000 per Business Day after the due date |
| Source Documentation Page Reference: SOW Pg 24 |
| Deliverable Number: 05 |
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06
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Investment advice
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Advisory Council Attendance
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No Cost
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| Major Deliverable: Advisory Council Attendance |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: Per paragraph E of Section 15, Other Requirements, the Contractor shall cause its lead operations manager and any other necessary staff to attend statutory required meetings to the Deferred Compensation Advisory Council. At the request of the Department, Contractor’s lead operations manager shall provide an update on its operational/contractual activities and provide an economic/investment review. The Contractor may utilize other Contractor personnel as necessary. |
| Financial Consequences: $1000 for each instance of non-attendance |
| Source Documentation Page Reference: SOW Pg 24 |
| Deliverable Number: 06 |
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07
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Investment advice
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Semi-Annual Meeting Attendance
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No Cost
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| Major Deliverable: Semi-Annual Meeting Attendance |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: Per paragraphs C and D of Section 15, Other Requirements, the Contractor shall cause its lead operations manager to meet with the Department and provide update on its operational/contractual activities and provide an economic/investment review. The Contractor may utilize other Contractor personnel as necessary. |
| Financial Consequences: $5000 for each instance of non-attendance |
| Source Documentation Page Reference: SOW Pg 24 |
| Deliverable Number: 07 |
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08
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Investment advice
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Annual Account Representative Meeting
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No Cost
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| Major Deliverable: Annual Account Representative Meeting |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: Per paragraph S of Section 7, Account Representatives, the Contractor shall cause its entire Account Representative team to meet with the Department for discussion of Participant service, education, and enrollment. |
| Financial Consequences: $1000 for each non-occurrence |
| Source Documentation Page Reference: SOW Pg 24 |
| Deliverable Number: 08 |
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09
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Investment advice
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Annual TSL Employee Meeting
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No Cost
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| Major Deliverable: Annual TSL Employee Meeting
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| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: Per paragraph F of Section 8, Toll-Free Customer Support Line and TSL employees, the Contractor shall cause its entire TSL employee team to meet with the Department for discussion of Participant service, education, and enrollment. In the alternative this meeting may utilize tele-/video conference or may be combined with Deliverable No. 8. |
| Financial Consequences: $1000 each for non-occurren |
| Source Documentation Page Reference: SOW Pg 24 |
| Deliverable Number: 09 |
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10
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Investment advice
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Annual Compliance Meeting
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No Cost
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| Major Deliverable: Annual Compliance Meeting |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: Per paragraph F of Section 15, Other Requirements, the Contractor shall make its offices, call centers, and other work locations available for an on-site visit by Department at a date of the Department’s discretion. |
| Financial Consequences: $1000 for each non-occurrence |
| Source Documentation Page Reference: SOW Pg 24 |
| Deliverable Number: 10 |
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11
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Investment advice
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Payroll Processing and Exceptions
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No Cost
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| Major Deliverable: Payroll Processing and Exceptions |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: Per paragraph A of Section 14, Third-Party Administrator Processes and Contractor’s Reporting Requirements, on pay dates the Contractor shall process incoming contributions for settlement to Participant accounts. Any contribution that cannot be applied to a Participant account shall be reported to the Department for review. |
| Financial Consequences: $500 per Business Day for each occurrence of delayed processing or non-reporting of contribution that cannot be applied to a Participant account |
| Source Documentation Page Reference: SOW Pg 24 |
| Deliverable Number: 11 |
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12
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Investment advice
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Plan Website
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No Cost
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| Major Deliverable: Plan Website |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: Per Section 12, Dedicated Plan Website, the Contractor shall provide a Participant website for education, enrollment, and must include a secure account information portal. Downtime for maintenance shall be accomplished during non-peak hours. |
| Financial Consequences: $250 per each hour of unscheduled website outage |
| Source Documentation Page Reference: SOW Pg 24 |
| Deliverable Number: 12 |
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13
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Investment advice
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Report Delivery
Due Date: Various (see specific Contract provisions)
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No Cost
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| Major Deliverable: Report Delivery
Due Date: Various (see specific Contract provisions) |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: : Except where otherwise specified in this Section 16, per Section 9, Required Special Reports to the Contract Manager; Section 13, Existing Interface with Third-Party Administrator Service (FIS); and any other section requesting report delivery, the Contractor shall deliver the report(s) containing the content specified therein on or before due date. |
| Financial Consequences: $100 per Business Day per late report |
| Source Documentation Page Reference: SOW Pg 24 |
| Deliverable Number: 13 |
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14
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Investment advice
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SSAE 18 SOC 2 Type II Audit Report
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No Cost
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| Major Deliverable: SSAE 18 SOC 2 Type II Audit Report |
| Deliverable Price: $0.00 |
| Non Price Justification: Rate Agreement |
| Performance Metrics: Per Section 17, G. Audit Report, the Contractor shall engage a certified public accounting firm to perform a data security audit report. |
| Financial Consequences: $250.00 per Business Day that the Contractor’s submission of the audit report to the Department is late. In the event that the Audit Report identifies exceptions, then $250.00 per Business Day that the Contractor’s response and corrective action plan to the Contract Manager is late. |
| Source Documentation Page Reference: SOW Pg 24 |
| Deliverable Number: 14 |
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