Specifications include, but are not limited to: • Identify the most qualified business partner to deliver recordkeeping administration, as well as participant and plan sponsor services. • Identify a Service Provider that will improve the efficacy of the Plan and facilitate the timing to transition plan assets. • Identify a Service Provider whose costs are reasonable and commensurate with the services being provided. • Identify a Service Provider with the flexibility to meet the Plan’s and participants’ current and future needs. • Identify a Service Provider with proactive and intuitive tools including web-based modeling capabilities that educate and encourage participants to plan for retirement and for participant retirement income needs. • Identify a Service Provider whose quality assurance practices are able to ensure that the Plan is administered in accordance with plan documents and applicable regulations. • Identify a Service Provider that assigns an experienced service team that is proactive, responsive, and integrated to address new market trends and service provider offerings and ideas for discussion. • Identify a service provider who has a plan to increase participation and deferrals into the 457 plan and is willing to agree to specific increases over the life of the contract in the service standards. • Demonstrate fiduciary responsibilities and due diligence. • Identify a service provider that can meet the requirements outlined in House Bill 1040.
