Accept the Proposals Submitted and Allow Negotiations with MetLife Resources, ING, Horace Mann, Suncoast Schools Federal Credit Union, Lincoln Investment Planning-West Coast, Financial Group, and AIG VALIC - Request for Proposal (RFP)#4988-TWS Investment Product Providers – 403(b)/403(b)(7), 403(b), and 457(b) (Business Division)

On June 26, 2007, the Procurement Department in conjunction with the Employee Benefits and Insurance Department issued a Request for Proposal (RFP) for interested organizations to provide annuity, mutual fund and custodial account investment products and services to the 403(b)/403(b) (7), ROTH 403(b) and 457(b) program, including LOAD (Service Based) and No-LOAD investment providers. To evaluate this RFP, firms were asked to provide their implementation plan, qualifications and experience, small business utilization, references, and cost/fees for services. The proposal requested an initial contract term of five years, renewable for two additional one-year periods. The District utilizes an online vendor registration system to notify potential bidders of opportunities. Through this system, 17 firms responded (Attachment A). The evaluation process included a committee of district personnel and union representatives (Attachment B). Prior to Phase I, the TSA Consulting Group contacted references and prepared a response summary and fee disclosure guide to assist the committee in evaluating the proposals submitted. The committee evaluated the proposals during Phase I on July 10, 2007, based on the RFP criteria (Attachment C). The committee reviewed key points as a group and individually rated each firm for final compilation and ranking (Attachment D). Interviews were conducted with firms from the short list during Phase II on July 17, 2007.

As stated in OPPAGA report: “Efficient purchasing and warehousing require that management processes be in place to ensure that supplies, equipment, and services vital to the school’s education mission are purchased from a competitive source, in the right quantity, delivered timely to the correct location, and stored in a secure location."

Providing the current Tax Sheltered Account (TSA) Program for employees costs the District approximately $35,000 in personnel costs and $70,000 in consulting and compliance monitoring costs. Approval of this recommendation will incur no additional expenses to the District.

Contract administration or evaluation is performed by the Project Manager and Procurement Analyst, who function as a team. Reviews are conducted face to face, typically quarterly, or by utilizing an online vendor performance report. Prior to soliciting a new contract, the Contract Administration team must first give consideration to the specifications and supporting data of the expiring contract.