Action Item
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Business
Action Item |
| DATE: | Tuesday, February 17, 2015 |
| TO: | School Board Members |
| FROM: | MaryEllen Elia, Superintendent |
| SUBJECT / RECOMMENDATIONS | |
| Accept the Proposals Submitted by AXA Equitable, Horace Mann Life Insurance Company, Lincoln Investment Planning, Suncoast Credit Union, and Valic - Request for Proposal (RFP) #14141-DST Voluntary Investment Products Program (Business Division) | |
| EXECUTIVE SUMMARY | |
| On November 13, 2014, the Procurement Department, in conjunction with the Employee Benefits Department, issued a Request for Proposal (RFP) for interested organizations to provide annuity, mutual fund and/or custodial account investment products and services to the Tax Shelter Accounts (TSA) Program. The TSA Program includes (403(b)/403(b)(7), ROTH 403(b) and 457(b)), with Load (Service Based) and No-load investment providers. To evaluate this RFP, firms were asked to provide their company information, qualifications and experience, small business utilization, product information, and cost/fees for services. The TSA Consulting Group analyzed responses and prepared a summary and fee disclosure guide to assist the committee in evaluating the proposals. The evaluation process included a committee of district personnel and union representatives who reviewed key points and individually rated each firm for final compilation and ranking. The initial contract term is five years, with four additional one-year periods. | |
| STRATEGIC OBJECTIVES | |
| • Align financial resources to support the districts strategic goals • Demonstrate best financial practices | |
| FINANCIAL IMPACT (Budgeted: Yes) | |
| The terms of the RFP specifically require the selected firms to support the district’s cost of administering its TSA program, saving the district an estimated $135,000 annually. | |
| EVALUATION | |
Contract administration or evaluation is performed by the Project Manager and Procurement Officer, 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. |
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| SUBMITTED BY: Jean R. Bowman, General Manager, Procurement Department | |
| Stephanie F. Woodford | Gretchen Saunders | |
| Chief Human Resources Officer (813) 272-4166 |
Chief Business Officer (813) 272-4270 |
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| A 6.18 | ||
| Hillsborough County Public Schools (Florida) * Mtg.#20150217_684 (Board Meeting) * Section A Item# 6.18 | ||