Project Information

Bid Title

RFP 26-011-67 Questions and Answers No. 1

Issuing Agency

Shelby County

Location

Tennessee

Published Date

Dec 24, 2025

Closing Date

Jan 20, 2026

Government Level

State & Local

Status

Closed

Original Source

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Project Description

Bid Title:

RFP 26-011-67 Questions and Answers No. 1

Category:

Human Resources

Status:

Open

Publish Date:

Wednesday, December 24, 2025 - 10:30am

Close Date:

01/20/2026 - 4:00pm

Contact Person:

Christina Lemartin

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Related Documents:

RFP 26-011-67 Questions and Answers No. 1.pdf

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Shelby County

Tennessee

Lee Harris, Mayor

QUESTIONS & ANSWERS No. 1

Issued: December 23, 2025

Deferred Compensation Plan Administration

(Human Resource)

TO ALL PROSPECTIVE BIDDERS:

The following question(s) were submitted by potential bidders with answers listed below in red:

Q-1. How is the Shelby County Fixed Fund traded today?

A-1. Guaranteed Income Fund is an Empower product that is held at Empower, backed

by the General Account. The EASY recordkeeping system is used to provide participant

level recordkeeping and handles daily transactions.

Q-2. What is the pricing valuation structure?

 Is it daily valued or daily factor?

 Will Empower provide us with the price, or will we need to calculate it?

A-2. Is it daily valued or daily factor? Interest is credited to balances on deposit in the

Guaranteed Income Fund on a daily basis based on the daily equivalent of the annual effective

crediting rate (“daily factor”), which is applicable to such balances.

Will Empower provide us with the price, or will we need to calculate it? Yes, Empower

provides.

Q-3. The sample contract in RFP 26-011-67 Exhibit D is only one page. Could you please

provide a full sample contract?

A-3. The bidding vendor is to provide the sample contract.

Q-4. We will provide responses in the required Excel document. However, due to size

limitations, are we permitted to also submit an expanded version in a separate Word document?

A-4. Yes, include the location of the referenced information in the column titled “Ref. to

appendix, if applicable"

Q-5. Should Shelby County terminate with the incumbent, what would the credited rate of the

Guaranteed Fund be reduced to at the time of deconversion?

1

A-5. The crediting rate would be 1.50%.

Q-6. Please provide the total annual contributions for 2025 and 2023).

A-6.

YEAR

Contribution Amount

2023*

$ 6,063,644.86

* not an exact amount as there was 20-day overlap with provider systems

YTD 09/30/2025 $5,433,423

Q-7. Please provide the total annual distributions for 2025 and 2023).

A-7.

YEAR

Distribution Amount

2023*

$ 13,799,176.87

* not an exact amount as there was 20-day overlap with provider systems

YTD 09/30/2025 $12.2M

Q-8. Is the County currently satisfied with the level of service provided by the local

representative?

A-8. No response will be provided.

Q-9. What types of financial education topics does the advisor currently offer? (Retirement

readiness, debt, budgeting, Social Security, etc.)

A-9. Currently, the advisor does not provide education to participants.

Q-10. What financial wellness programs does the recordkeeper currently provide? (Workshops,

webinars, financial planning, retirement readiness tools.)

A-10. The current vendor offers financial wellness programs.

Q-11. What types of communication materials does the recordkeeper supply? (Enrollment kits,

posters, email campaigns.)

A-11. Materials include email campaigns, mailers, enrollment communications

delivered via a multichannel approach, brochures, posters, and infographics.

Q-12. Plan data provided in the Empower Retirement Report and Creative Planning Report is

from 12/31/24. Is more recent data available including total assets, asset allocation by fund, total

participants with a balance, actively contributing participants, 2025 contributions, 2025

distributions?

A-12. 09-30-2025 asset total: $159,985,474; below is breakdown

2

9-30-2025

Active Participants with a balance: 1770

Separate Participants with a balance: 722

YEAR

Contribution Amount

YTD 09/30/2025 $5,433,423

YEAR

Distribution Amount

YTD 09/30/2025 $12.2M

Q-13. Please confirm the initial contract is for 3 years from 7/1/26 – 6/30/29 with only one

additional one-year renewal.

A-13. Yes.

3

Q-14. Will any allowance or payment to a plan expense account be expected from the service

provider?

A-14. Currently, there is no revenue sharing or float allowance that would be funneled

to a plan expense account. Empower currently has direction from the plan sponsor to

collect advisor fees from participants that are accumulated and paid out from the plan

expense account. Going forward, it is expected that participants pay the service provider

and advisor fees.

Q-15. Does the plan currently offer managed accounts? If so, what is the asset allocation?

A-15. The Plan does not offer managed accounts.

Q-16. Does the plan currently offer a self-directed brokerage option? If so, what is the asset

allocation?

A-16. There is not a self-directed brokerage account option.

Q-17. Please describe the current fixed account or stable value options offered by the

provider. Please include current crediting rates, minimum guarantees, withdrawal restrictions,

market value adjustments, surrender charges, required put notices or any other encumbrance to

liquidation.

A-17. Effective 01-21-2026: Putnam Stable Value will be the only capital preservation

fund available for new contributions. 09-30-2025 net crediting rate: 4.09%; the exit

provision is a 12- month put. The 90-day equity wash rule will apply.

Q-18. Please confirm the liquidity provision of the Guaranteed Interest Fund. In section “VII.

General Requirements and Information” on Page 10, The RFP states that 50% will be transferred

after one-year and 50% will be transferred after 2 years. However, the “Exhibit B: Creative

Planning Management Report” pdf shows the following on page 49 of 61:

a. Paid immediately subject to an MVA.

b. Paid at book value over 20 quarters.

c. Another liquidity provision is agreed upon in writing.

A-18. The Management Report lists the exit provisions per the contract. The RFP lists the

current details agreed to by the current vendor and the Plan.

Q-19. Are assets mappable at the plan level or via individual exchange?

A-19. Investments available to the Plan occur at Plan level.

Q-20. Are there any restrictions on the Fixed Account? i.e. 6/5 payout

A-20. Effective 01-21-2026: Putnam Stable Value will be the only capital preservation fund

available for new contributions. No new contributions will be accepted into the Guaranteed

Interest Fund; therefore, the 90-day equity wash rule will apply. The current vendor and the Plan

have agreed that the Guaranteed Interest Fund payout of 50% will be transferred after one-year

and 50% will be transferred after 2 years.

Q-21. What should we include for meeting days?

4

A-21. We would expect to have quarterly meetings regarding the County’s plan

performance.

Q-22. Would you be able to provide a more current asset breakdown and participant count?

A-22. 9-30-2025

Active Participants with a balance: 1770

Separate Participants with a balance: 722

Eligible Participants not participating: 3959

09-30-2025 asset total: $159,985,474; below is breakdown

Q-23. VII. General Requirements and Information, Section C. Cybersecurity, Data

Protection and Patching, number 10: The RFP requires Respondent to sign “any documents

reasonably necessary,” including the Shelby County Confidential Data Vendor Agreement,

Acceptable Use Policy, and various security and breach-notification policies.

To accurately assess these obligations, could the County please provide copies of all documents

and policies Respondents would be required to sign or comply with, including any data security,

network security, or breach-notification policies referenced?

A-23. Reference Exhibit G.

5

Commodity Codes

• NAICS 541511Custom Computer Programming Services

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