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SW-24403 - USA (Maryland) - Recordkeeping, Administration and Benefit Payments Solution and Services - Deadline July 2,2019

Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID: SW-24403

Government Authority located in Virginia; USA based organization looking for expert vendor for school photography services.

[A] Budget: looking For Proposal

[B] Scope of Service:

(1) Vendor needs to provide recordkeeping, administration and benefit payments solution and services and defined benefit plan administrative services for the programming and administration of its pension software and utilizes PeopleSoft software as the system of record pension software. Additionally, PeopleSoft provides monthly benefit payments to retirees, alternate payees and terminated employees, and related tax regulatory reporting.
- System shall provide benefit calculation capabilities
- System shall provide preparation of annual benefit statements
- System shall be the official System of Record for the Plan to include pensionable earnings, hours and contributions, etc.
- Services shall include monthly benefit payments to retirees, alternate payees, and terminated employees
- System shall provide compilation of annual actuarial evaluation data
- Services shall include ongoing training and support to the County as it relates to the day-to-day operation of the Plan when necessary and at no cost to the County
- Services shall include timely system application updates to meet legislative
and regulatory requirements as needed
- System shall monitor 401(a) required minimum distributions including identification of individuals, determination of the amount of the minimum required payment, payment within required deadlines and annual updates for those in pay status
- System shall have the ability to provide public reporting needs
- Suspend and reinstate benefits as necessary as changes become necessary
- Conversions for optional forms of payment shall be pre-programmed into the system
- System shall provide valuation data output file shall be available upon request
- Multiple benefit formulas shall be available, including situations wherein one participant may be affected by more than one formula or situation wherein one participant may be affected by different periods of benefit service
- System shall maintain a complete, detailed audit trail
- System shall have the ability to calculate disability retirement benefits for both ordinary and line of duty situations
- System shall have the ability to track Participants who may switch from eligible employees to ineligible employees and vice versa
- System shall track and handle notice reports for situations like Period Certain benefits expiring, vested terminated Participants reaching Normal Retirement Date, active or deferred vested Participant reaching their benefit commencement date, etc.
(2) A mandatory pre-proposal conference will be held June 10, 2019.
(3) All questions must be submitted no later than June 24, 2019.
(4) Contract period will be for three years.

[C] Eligibility:

Onshore (USA Only)

[D] Work Performance:

Performance of the work will be Offsite. Vendor needs to carry work in their office premises.

Expiry Date : Tuesday, 2 July, 2019

Pre-proposal Conference Date : Monday, 10 June, 2019

Question Answer Deadline : Friday, 24 May, 2019

Category : Software, System and Application, Records Storage Services, Uncategorized

Country : USA

State : Maryland

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