Specifications include, but are not limited to: PSRS is seeking a recordkeeper and administrator for its staff retirement programs and an administrator and trustee for its retiree health reimbursement arrangement. PSRS is also seeking assistance in expanding the scope of reimbursements provided under its retiree health reimbursement arrangement within the parameters allowed by the Internal Revenue Service (IRS). PSRS/PEERS’ benefit programs are an important part of its total rewards strategy. PSRS/PEERS wants to enhance the employee perception of the value of the plans by partnering with a Firm with excellent customer service, employee-centric interfaces, communications, competitive fees and competitive investment choices (both from an investment return and expense standpoint). The primary goals for this RFP, with the assistance of the vendor, include: 1. Offering a diverse and competitive investment fund lineup at a reasonable cost; 2. Providing robust online transaction and information capabilities; 3. Providing participant education and communication of services to promote knowledgeable investment; 4. Providing a sound platform for encouraging growth of participation in the plans and high levels of contributions consistent with the participant’s financial abilities and total financial objectives; 5. Determining the overall competitiveness of the plans; 6. Ensuring best practices and compliance changes are implemented appropriately; 7. Planning for an orderly and timely transition of assets and services, if and as necessary. The Firm selected pursuant to this RFP will be expected to provide the necessary recordkeeping and administration, employee communication and education, custodial trustee/investment management, and employer education services in compliance with all pertinent IRS rules and regulations for each plan identified. The services will include, at a minimum, the following: 1. Recordkeeping and Administration a. Processing payroll deductions on a recurring basis (semi-monthly) and participant transactions on a daily basis b. Internet services must include data encryption and a secured method to submit and receive payroll data as well as allow PSRS authorized staff the ability to view participant demographic information and plan activity. 2. Employee Communication/Education and Tools a. Employee access to plan information, and investment and retirement models via secure website and through call center interactions b. Employee communication and investment education programs; supported by customer service representatives and comprehensive online services that provide participants with interactive financial and retirement planning tools and software. 3. Trustee/Custodial Compliance 4. Competitive and Diverse Investment Options
