Pension/Investment Consulting Svcs for DC Plan

ADVERTISEMENT INFORMATION General Information Department for this solicitation: Procurement Date Prepared: 08/30/23 Types: RFP Advertisement Type: ServiceMaterialsService & MaterialsPW ConstructionAgency ConstructionReal Estate Solicitation/Project#: PSERS RFP 2023-3 Solicitation/Project Title: Pension/Investment Consulting Svcs for DC Plan Description: PSERS RFP 2023-3 PENSION AND INVESTMENT CONSULTING SERVICES FOR GOVERNMENTAL DEFINED CONTRIBUTION PLAN The Board is the administrator of a governmental, cost-sharing, multiple-employer pension plan to which public school employers, the Commonwealth, and public school employees (members) contribute. The Public School Employees’ Retirement System (“PSERS”) was created as a defined benefit plan; a qualified trust under Section 401(a) of the Internal Revenue Service Code (“DB Plan”). The Public School Employees’ Retirement Fund (“Fund”) consists of all monies of the DB Plan. PSERS’ role expanded upon the passage of Act 5 of 2017 to include

oversight over the School Employees’ Defined Contribution Plan, a separate qualified 401(a) defined contribution plan (“DC Plan”). Act 5 of 2017 represented a substantial change to PSERS’ operations and made significant changes to PSERS benefit structure for future members. School employees who first become new members of PSERS on July 1, 2019 and thereafter will choose from one of three new membership classes for their retirement benefits. The new plan design options include two membership classes consisting of a defined benefit component and a defined contribution component and one membership class with only a defined contribution component. The School Employees’ Defined Contribution Trust (“Trust”) consists of all monies of the DC Plan with the Board as the trustee (“Trustee”) of the Trust. As Trustee of the Trust, the Board will need the services detailed in this RFP relating to the Trust. PSERS is administered by a staff of 375 and has 770 reporting units as of June 30, 2022. PSERS’ statutory funding scheme provides for periodic member contributions at statutory rates and periodic employer contributions at statutory rates for the DC Plan and actuarially determined rates for the DB Plan. As provided by statute, the Board has exclusive control and management responsibility of the Fund and Trust. In exercising its fiduciary responsibility, the Board is governed by the “prudent investor” rule and has adopted an Investment Policy Statement, Objectives, and Guidelines of the DC Plan to formally document investment objectives and responsibilities. This policy, as well as applicable state law, requires that the Board provide no less than ten options offered by three or more investment providers that encompass a variety of risk/return characteristics among which participants of the DC Plan can diversify their portfolios. Currently, the lineup includes seven providers offering six asset classes and a portfolio of target date funds, totaling 19 investment options among which participants can diversify their portfolio. Participants are automatically enrolled into a T. Rowe Price target date investment based on their projected retirement date. The contractor will provide consulting services for the DC Plan. Department Information Department/Agency: Public School Employees Retirement System Delivery Location: 5 N 5Th Street Harrisburg Pa 17101 County: Dauphin Duration: 12/31/2023 Contact Information First Name: Cathy Last Name: Gusler Phone Number: (XXX-XXX-XXXX) 717-720-4889 Email: cgusler@pa.gov Solicitation Information Bids must be received by the purchasing agency on the Solicitation Due Date no later than the Solicitation Due Time as set forth in the solicitation. Any conflict between the dates and/or times contained in the solicitation itself or its attachments and this advertisement shall be resolved in favor of the solicitation. Solicitation Start Date: 08/30/23 Solicitation Due Date: 09/29/23 Solicitation Due Time: 4:00 PM Solicitation Opening Date: 10/02/23 Solicitation Opening Time: 9:00 AM Opening Location: 5 N 5Th Street Harrisburg Pa 17101 No. of Addendums: 0 Amended Date: 09/14/23 This procurement has SDB or VBE goals set. Related Solicitation Files Flyers/Addendums FINAL 2023-3 DC Plan Consultant RFP (8 30 2023).docx Supplies_Services_SDB_Participation_Form.pdf Supplies_Services_VBE_Participation_Form.pdf PSERS RFP 2023-3 Pension Investment Consulting Svcs for DC Plan BDISBO presentation.pdf Solicitation Addendum 2_PSERS RFP 2023-3 BDISBO Goal Setting Information Presentation Attendance.pdf Solicitation Addendum 3_PSERS RFP 2023-3 Questions and Answers Posting Date Change.pdf Solicitation Addendum 4_PSERS RFP 2023-3 Questions and Answers.pdf Go to Solicitation Tabulations No Tabulations exist for PSERS RFP 2023-3. Go to Awards No Awards exist for PSERS RFP 2023-3. Go to Contracts No Contracts exist for PSERS RFP 2023-3.