Project Information

Bid Title

Fiduciary Services for Deferred Compensation Consulting Services

Issuing Agency

Seminole County

Location

Florida

Published Date

Mar 19, 2025

Closing Date

Apr 16, 2025

Government Level

State & Local

Status

Closed

Ref. #

RFP-604926-25/LNF

Original Source

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Bid Documents

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Project Description

Project ID: RFP-604926-25/LNF

Title: Fiduciary Services for Deferred Compensation Consulting Services

Addenda: 0

Release Date: 3/19/2025

Due Date: 4/16/2025

Post Information

Posted At:Wed, Mar 19, 2025 1:52 PMSealed Bid Process:Yes (Bids Sealed / Pricing Sealed)Private Bid:No

Overview

Summary

Seminole County seeks a consultant to evaluate the performance and cost of investment options offered to participants and present a report to the Deferred Compensation Plan Review Committee on an annual basis. The Consultant shall also provide general consultation services regarding Section 457(b) Deferred Compensation Plan compliance and fiduciary duties.

Background

Seminole County Board of County Commissioners (“Seminole County”) is hereby requesting proposals for Section 457(b) Deferred Compensation consulting services in accordance with the specifications listed herein. Seminole County offers the Deferred Compensation Program (DCP) to employees of the Board of County Commissioners as well as employees of five (5) constitutional officers (Sheriff, Property Appraiser, Supervisor of Elections, Clerk of Circuit Court, and Tax Collector). There are approximately 3,200 employees eligible to participate and two thousand, three hundred and sixty-eight (2,368) participants as of June 30, 2024. As of that date, plan assets totaled approximately one hundred forty-two million ($142,000,000). Participants currently have a variety of investment options from which to choose offered by Nationwide, who also serves as the Plan’s record keeper (please refer to Attachment A - Expense Ratio and Attachment B - Plan Health Report, for a list of investment options). Employees have the option to contribute to the plan on a pre-tax basis (traditional account).

Timeline

Release Project Date:

March 19, 2025

Question Submission Deadline:

April 7, 2025, 5:00pm

Proposal Submission Deadline:

April 16, 2025, 2:00pm

Commodity Codes

• NAICS 541611Administrative Management and General Management Consulting Services
• NAICS 541612Human Resources Consulting Services
• NAICS 541618Other Management Consulting Services

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