District of Columbia Cobblestone Systems #CFOPD-26-C-006

Award for Bundled Management Services for District of Columbia 457(b) and 401(a) Retirement Plans

This award covers bundled management services for the District of Columbia's 457(b) Deferred Compensation Plan and 401(a) Defined Contribution Plan, serving approximately 35,000 eligible employees across 92 agencies. - Government Buyer: - District of Columbia Office of the Chief Financial Officer, Office of Finance & Treasury - Office of Contracts - OEMs and Vendors: - Voya Institutional Plan Services, LLC (primary contractor) - Voya Retirement Advisors, LLC (investment advisory) - Voya Institutional Trust Company (trust services) - Great Gray Trust Company, LLC (administers Capital Preservation Fund) - Charles Schwab & Co., Inc. (self-directed brokerage accounts) - Products/Services Requested: - Bundled management services for 457(b) and 401(a) plans - Recordkeeping, administration, communication, education, investment platform, custodial/trustee services - Investment advisory services (including managed account options and retirement income solutions) - QDRO (Qualified Domestic Relations Order) administration - Self-directed brokerage account services via Charles Schwab - Voya Capital Preservation Fund (Fee Classes CP1, CP2, CP3; part numbers: 97184M873, 97184M865, 97184M857) - Unique/Notable Requirements: - Broad investment platform with collective investment trusts and participant-directed brokerage options - Onsite participant support at District Department of Human Resources - Flexibility for future changes to investment structure - Quarterly reporting and compliance provisions - QDRO administration for both District and United Medical Center plans - Substantial plan assets ($1.9B for 457(b), $108M for 401(a)) - Implementation period and ongoing administrative/fiduciary requirements - Estimated contract value: up to $16,764,510 over five years with two two-year option periods

Description

The District of Columbia Office of the Chief Financial Officer, Office of Contracts, on behalf of the Office of Finance & Treasury (OFT), requires the Contractor to provide bundled 457(b) Deferred Compensation Plan and 401(a) Defined Contribution Plan management services. These services include recordkeeping/administration, communication/education, a broad investment platform, and custodial/trustee services. The contract also covers services for the United Medical Center's 457(b) Plan. The District may revisit and change the investment structure in the future.

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