457(b) Deferred Compensation Plan Administration and Record Keeping
Yakima County > Purchasing Department
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Submission Instructions
Description
Yakima County is soliciting proposals from qualified firms to administer and provide record-keeping services for its Empower 457(b) Deferred Compensation Plan and Nationwide 457(b) Deferred Compensation Plan. The scope includes integrated plan administration and reporting, participant account and transaction support, payroll contribution processing, communications, participant education and counseling, investment-menu analysis and support, online capabilities, fee administration, compliance assistance, and transition of assets and services if necessary. The County has approximately 906 benefit-eligible employees and approximately $30.8 million in combined plan assets as of June 30, 2026. Proposers must have at least five years of governmental Section 457(b) administration experience and currently provide sole-provider administration to at least three governmental 457(b) plans with at least $50 million in assets each. The selected provider must support a self-directed brokerage option, provide on-site participant representatives and education at County worksites, disclose investment expenses and revenue sharing, and provide the requested exhibits, references, insurance evidence, security and audit materials, transition plan, and fee proposal. The response includes a cover letter, a questionnaire, and an electronic exhibit folder; the questionnaire is limited to 50 pages excluding the cover letter and exhibits.
Classification Codes
Smart Codes
Specifications
Timeline
Requirements
- Commercial Liability Insurance — $2,000,000.00
- Automobile Liability Insurance — $2,000,000.00
- Employer's Liability — $1,000,000.00
- Professional Liability — $2,000,000.00
- Minimum 12 references
- Within the last 5 years
- Client point of contact required for each reference
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