Description
The State of Nevada is seeking proposals from qualified firms to provide plan administration and record keeping services, participant on-site support, communication and education services for the State's 457 Deferred Compensation Plan and Federal Insurance Contribution Act (FICA/3131 plan) Alternative Plan. The selected vendor will be responsible for providing these services to approximately 54,000 government employees and 15,610 participants in the 457 plan, as well as 26,682 participants in the FICA Alternative Plan. The contract is expected to start on January 1, 2020, and will run for 60 months. Some key features of the plan include:
* Providing plan administration and record keeping services
* Offering participant on-site support, communication, and education services
* Evaluating providers' proposed stable value investment products
* Ensuring compliance with Nevada's ethical standards requirements and relevant laws and regulations
* Providing support in soliciting eligible Political sub-divisions and consolidating other providers
The State is looking for a vendor that can provide a cost-efficient service model, enhance participant services, and provide an attractive Stable Value Investment Product.