All correspondence must be made through the Vendor Portal. Specifications include, but are not limited to: The College is looking for a Consultant to perform a comprehensive analysis and review of, and to make recommendations with respect to, the Plan’s investment offerings, considering the unionized environment affecting some of its employees. The Consultant should perform a quantitative and qualitative screening process, including the benchmarking of the Plan’s various investment offerings, a manager review, and a portfolio analysis of the current offerings. The Consultant should make recommendations regarding the elimination of investment redundancies; a review of TIAA’s and Fidelity’s costs and fees; a review of the annual rate of return for each of the Plan’s current investment offerings; and a review of the TIAA and Fidelity service contracts and the Plan documents. The College is also looking for a Consultant who should be qualified and able to provide the following ongoing services: General Plan Design and Administration. The Consultant should be familiar with current defined contribution plan designs, administrative arrangements and low cost, high value providers. The Consultant will be expected to evaluate and offer appropriate suggestions regarding improvements in administrators (particularly regarding obtaining efficiencies in administrative cost) and investment platforms as well as elements of the Plan’s investment line up. Investment Advisory Services. The Consultant will assist with, and will be the primary source of recommendations regarding, the selection of investment options and investment platforms for participants in the Plan to ensure that participants are positioned to create diversified portfolios with high-quality investment options that meet the various needs and investment objectives of the participants. The Consultant will review the existing investment options and investment platforms and make recommendations to the College. The Consultant is expected to function in the nature of a Section 3(21) investment manager (as if ERISA applied to the Plan since the College is not an investment professional). Accordingly, while the Consultant will be making recommendations to the College, the Consultant should develop recommendations from the perspective of expecting that those recommendations normally will be implemented...
