Description
The Department of Retirement Systems (DRS) is seeking to award a sole source contract to CEM Benchmarking, Inc. for independent public pension administration benchmarking. The contract will provide DRS with extensive performance, cost, and best practice information to support its performance measurement and continuous improvement efforts. The selected vendor will be required to provide a benchmarking report that includes performance and activity cost data from a minimum of 15 public pension administrators, each having a total of more than 300,000 active members and annuitants. The report will compare DRS's performance and cost data with its peer group and analyze the data in at least 12 different activities.
• Provide performance and activity cost data from a minimum of 15 public pension administrators
• Secure electronic access to draft and final versions of the individualized report
• Compare the performance and cost data provided by DRS with data provided by its peer group
• Analyze the data in at least 12 different activities that are common to public pension administration
• Analyze the data in at least three factors that may contribute to cost differences