Retirement Plan Consultant RFP

The State University of New York (SUNY) wishes to procure the services of a full-service retirement plan consulting firm for the University’s Defined Contribution Retirement Plans as further described in this RFP. SUNY seeks proposals from qualified respondents. The selected bidder will serve as a fiduciary to the State University of New York University-wide Benefits Office and Plans for all investment-related consulting services, and is expected to provide objective, third-party advice and counsel that will enable The State University of New York University-Wide Benefits Office to make well-informed decisions regarding System administration. MINIMUM QUALIFICATIONS A Bidder must demonstrate that it meets the following minimum qualifications: 1. The Bidder has provided consulting services to defined contribution plans similar to those described in Section 2, Scope of Services, during the last five (5) years to at least five (5) public and/or private DC plan sponsor clients whose assets under advisement aggregate to at least one billion dollars, of which at least one (1) is a higher-education institution. 2. The Bidder has provided defined contribution consulting services similar to those described in Section 2, Scope of Services, during the last five (5) years to at least five (5) public and/or private plan sponsor clients or educational institutions whose assets are held across multiple vendors and who have multiple employer sites. 3. The Bidder is not in bankruptcy, conservatorship, receivership, or in the possession of a regulatory agency. 4. The Bidder meets all regulatory requirements for the consulting services. 5. The Bidder complies with federal and NY state regulations governing digital accessibility for public-facing websites, applications and learning materials. The Bidder is responsible for ensuring the digital content they create or distribute is accessible, including remediation of existing content in accordance with the SUNY Electronic and Information Technology (EIT) Accessibility Policy (6901). 6. The Bidder has experience with annuity contracts to the extent of being able to analyze the costs and value of the annuity contracts and review of general accounts. 7. The Bidder is willing to assume fiduciary responsibilities for the State University of New York Defined Contribution retirement plans. Business enterprises awarded an identical or substantially similar procurement contract within the past five years: None Service-Disabled Veteran-Owned Business (SDVOB) SDVOB Goal: 0.00% Minority / Women Business Enterprise contracting goals (MWBE) MBE Goal: 16.00% WBE Goal: 14.00% Disadvantaged Business Enterprise contracting goals (DBE) DBE Goal: 0.00%