Sarpy County Ionwave #2027-435 Addendum 1

Sarpy County Retirement Plan Recordkeeping Services Solicitation

Sarpy County, Nebraska is seeking a qualified firm to provide recordkeeping services for its 457(b) and 401(a) retirement plans, serving approximately 700 employees and managing around $30 million in assets. - Government Buyer: - Sarpy County Purchasing Department - Key contacts: Dan Huse, Beth Garber - Current Recordkeepers (OEMs): - Nationwide - Lincoln - Voya - Empower - Scope of Services: - Consolidate all plan participants and assets under a single recordkeeper - Manage participant data, contributions, distributions, and plan-level asset transfers - Provide ongoing support to Sarpy County Human Resources - Offer onsite and virtual participant education and enrollment sessions - Assist with transition planning, stakeholder communications, and timely issue resolution - Support multiple employee classifications and union/non-union contribution formulas - Prefer open-architecture investment platforms; proprietary funds considered if fees are reduced - Address AI utilization in recordkeeping - Unique Requirements: - Ability to transfer plan-level assets without liquidity restrictions - Experience with public sector retirement plans and complex participant structures - Proposals must detail firm qualifications, technical approach, costs, and AI capabilities - Contract Structure: - Three-year base term with automatic one-year renewals - Pricing updates required 180 days before term end; 120-day termination notice required

Description

Sarpy County is seeking a qualified firm to provide recordkeeping services for its 457(b) and 401(a) retirement plans. The project includes transitioning county participants to a single recordkeeper and acting as a resource for the Sarpy County Human Resources Office. The county has approximately 700 employees and about thirty million dollars in plan assets, currently managed by several recordkeepers. The contract term is three years with automatic one-year renewals. The procurement process includes submission of a Statement of Qualifications, with potential interviews and award by the Sarpy County Board of Commissioners.

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