RETIREMENT PLAN ADMINISTRATION, RECORD KEEPING, EDUCATION, COMMUNICATIONS, INVESTMENT-RELATED, AND OTHER SERVICES

CITY OF WEST LINN RETIREMENT PLAN ADMINISTRATION Proposals due: Dec. 14, 2019 @ 4:00 pm REQUEST FOR PROPOSALS The City of West Linn (hereinafter City or Plan Sponsor) is soliciting proposals from qualified firms (hereinafter Proposing Firm(s) or Firm(s)) to provide retirement plan administration, record keeping, education, communications, investmentrelated, and other services for the 457 Deferred Compensation Plan (hereinafter Plan). The primary goals for this Request for Proposal (hereinafter RFP) process include the following: — Enhancing participant retirement outcomes; — Analyzing the overall competitiveness of the Plan; — Providing for the integrated administration and reporting for the Plan; — Offering the most appropriate investment menu; — Improving participant education and communication services; — Enhancing the formal education for the Deferred Compensation Committee (hereinafter Committee); — Providing robust online transaction and information capabilities; — Providing support for as many administrative functions as deemed appropriate; — Evaluating alternative pricing structures, including scenarios that consolidate plans to one record keeper; — Fee transparency and reducing participant and Plan expenses; — Providing for an orderly and timely transition of assets and services if necessary; and — Formalizing the recordkeeper/Committee working relationship The Plan is using a combination of administrative fees and revenue share to pay for recordkeeping and administrative services today. As part of this RFP, the Committee will explore the utilization of institutional, nonrevenue share investment options and using an explicit participant fee to pay for recordkeeping and administrative services. This will allow for fee transparency and provide a more equitable distribution of Plan costs. As part of this process, the City, is looking to develop a Deferred Compensation Plan Committee (hereafter Committee) to carry out the fiduciary duties and have discretionary authority over the administration of the retirement programs. The Committee will continue to monitor and evaluate the Plan on an ongoing basis through regular meetings. All RFP responses received in good order will be reviewed by Hyas Group (hereafter City’s Consultant) and the Committee. The Committee carries out the fiduciary duties and has discretionary authority over the administration of the Plan. Full RFP and instructions are online at: https://bids.westlinnoregon.gov/rfp/rfp-plan- administration-and-record-keeping-services Published in Business Tribune Nov. 26, 2019 Published in West Linn Tidings Nov. 28, 2019. BT141216

ad: 141216

Publication: Construction 1

Section: Legals

Start Date: 2019/11/26

End Date: 2019/11/26

Owner: City of West Linn

City: WEST LINN

County: Multnomah

Bid Date: 12/18/19

Bid Time: 4:00 PM