Recordkeeping for Deferred Compensation Plan

The Authority is seeking proposals from qualified Respondents to serve as the single provider for the Authority’s non-ERISA governmental 457(b) deferred compensation plan and 401(a) profit sharing plan.BackgroundThe Authority was created in 1945 and is an independent special district governed by the Hillsborough County Aviation Authority Act, Chapter 2022-252, Laws of Florida (Act). This Act provides that the Authority will have exclusive jurisdiction, control, supervision and management over all publicly-owned airports in Hillsborough County.The Airport is consistently ranked among the world’s most beloved airports, serving more than 21 million annual passengers with routes to 90 nonstop destinations around the world. The Airport has received top awards at the State, national and international level, including being ranked #1 in North America and 5th in the world in customer satisfaction among airports of its size. The Airport has now completed several projects in the largest

construction program in its history with a major Main Terminal renovation, 66 shops and restaurants, a 1.4-mile automated people mover extending to a multi-level rental car facility, new Blue Express Curbsides, a nine-story office complex, and numerous new public art installations. The Airport is a major economic driver for the Tampa Bay region and is the gateway to the west coast of Florida.The Airport is served by more than twenty (20) commercial airlines operating from four (4) Airside Terminals: Airside Terminal A with sixteen (16) gates; Airside Terminal C with sixteen (16) gates; Airside Terminal E with thirteen (13) gates; and Airside Terminal F with thirteen (13) gates. During the Authority Fiscal Year ending September 30, 2023, the Airport served over twenty-one (21) million passengers and generated revenues totaling $383.5 million. The Authority anticipates 25.2 million passengers for Fiscal Year 2024.The Authority is seeking proposals from qualified recordkeeping/administration providers to serve as the single provider for the Authority’s non-ERISA governmental 457(b) deferred compensation plan and 401(a) profit sharing plan. The desired outcome is a robust recordkeeping and administration arrangement at a competitive cost with excellent customer service, including on-site group and one-on-one meetings with employees, online services and administration outsourcing opportunities.Plan Asset, Cash Flow and Participation Plan Assets Plan12/31/202312/31/202212/31/202112/31/202012/31/2019 457(b) (300690)$70,879,357.22$60,735,275.87$69,841,586.30$59,933,263.52$51,801,073.43 401(a) (109577)$785,206.51$697,424.97$828,770.52$662,217.04$546,347.62 Participants Plan 12/31/202312/31/202212/31/202112/31/202012/31/2019 457(b) (300690)Total728730725725710 Active516504518542531 Terminated212226207183179 Contributing504488495517514 401(a) (109577)Total11111 Active11111 Terminated00000 Contributing11111 Contributions Plan 20232022202120202019 457(b) (300690)Employee$4,370,206.41$4,266,247.39$4,022,818.29$4,160,846.09$3,574,304.56 Rollover$317,496.23$971,721.19$884,567.27$376,901.72$1,608,944.25 Loan Repayments$484,565.67$573,546.15$447,085.19$458,035.67$292,286.35 Other$0$0$0$0$0 TOTAL$5,172,268.31$5,811,514.73$5,354,470.75$4,995,783.48$5,475,535.16 401(a) (109577)Employee$0$0$0$0$0 Employer$60,999.90$60,999.90$56,624.88$58,802.76$53,884.50 Rollover$0$0$0$0$0 Loan Repayments$4,587$4,411$4,587$4,763$4,411 Other$0$0$0$0$0 TOTAL$65,586.82$65,410.40$61,211.80$63,566.10$58,295.00 Distributions Plan 2023202220212020 457(b) (300690)Terminated$633,058$164,606$0$0 Emergency$5,000$6,784$0$6,667 Loan$0$0$0$0 RMD$56,976$30,804$43,292$0 Age 70.5 in-svc$0$0$0$0 Other$4,951,001$2,232,930$3,319,588$4,236,469 TOTAL$5,646,035$2,435,124$3,362,880$4,243,135 401(a) (109577)Terminated$0$0$0$0 Hardship$0$0$0$0 Loan$0$0$0$0 RMD$0$0$0$0 Age 70.5 in-svc$0$0$0$0 Other$0$0$0$0 TOTAL$0$0$0$0 Loans Plan 12/31/202312/31/202212/31/202112/31/202012/31/2019 457(b) (300690)# Outstanding13514513711598 Total Balance$1,308,316.05$1,074,127.07$1,233,010.83$1,217,760.52$1,086,126.91 401(a) (109577)# Outstanding11111 Total Balance$21,775.26$25,299.67$28,542.01$31,768.61$34,969.26 Managed Account Utilization (if applicable) Plan 12/31/202312/31/202212/31/202112/31/202012/31/2019 457(b) (300690)# Participants Electing2021222222 Total Account Balance AUM$2,154,618.00$2,207,967.00$1,962,226.00$2,023,055.00$2,331,725.00 401(a) (109577)# Participants ElectingN/AN/AN/A11 Total Account Balance AUMN/AN/AN/A$662,217.00$546,348.00 Stable Value Accounts Capital Preservation OptionAssets12/31/23% ofPlan AssetsCrediting Rate12/31/23MissionSquare PLUS Fund R5$12,124,97616.9%2.64%PIMCO Government Money Market Fund I2$75,0420.1%5.15% (7-day yield)Dreyfus Government Securities Cash Management Adm$785,2071.2%5.08% (7-day yield) This information is a good faith summary based upon data and contracts believed to be reliable. The Authority does not warrant the accuracy of this information or the interpretation of provider contracts.The Authority sponsors a non-ERISA governmental 457(b) deferred compensation plan and a non-ERISA governmental 401(a) profit sharing plan (collectively hereinunder known as Plan(s)). The Plan(s) will be overseen by an Advisory Committee. MissionSquare Retirement, formerly ICMA-RC, has been the Authority's recordkeeping and administration service provider since 1977. The Authority recognizes the Plan(s) do not fall under the purview of the Employee Retirement Income Security Act of 1974 (ERISA) but that ERISA, as a federal body of law, is also a set of concepts and best practices outlining, in part, how responsible individuals should safeguard retirement funds.The Plan(s) currently offers participating Authority employees and retirees a diversified array of investment options. Participants control 100% of the investment decisions and direction of their respective accounts. Provider selection and asset transfer decisions are made by the Authority and not at the Participant level. The primary goals of this Solicitation are to reduce Plan(s) fees, enhance investment options via Open Architecture investment access, and enhance Participant retirement outcomes. Additional Plan(s) information may be provided during the negotiation phase of this Solicitation.The Authority has retained OneDigital Investment Advisors LLC (OneDigital) as its consultant for the purpose of assisting the Authority with the preparation of this Solicitation, Response analysis, verification meetings, and 3(21) fiduciary investment advisory services. Under the terms of its Contract with the Authority, OneDigital acts solely in the capacity of consultant and is remunerated directly by the Authority on a fee basis. No fees or commissions are to be paid to OneDigital from the Plan(s).The background information provided in this Section is intended only to give prospective Respondents a brief familiarization with the Authority and the Airport. All Airport data provided as part of this Solicitation is for informational purposes only and should not be construed as a guarantee of business. The information shown herein has been obtained from sources considered to be reliable. However, the Authority and its Board, officers, employees, agents, and contractors are not liable for the accuracy of the information or for its use by Respondent. Respondent must examine and inspect this Solicitation and all its appendices, attachments, and exhibits to be knowledgeable of the requirements and terms and conditions. Respondent must independently evaluate circumstances and conditions that may affect its Response and its ability to provide the required Services.The Authority mission and vision statements, found on the Authority website at www.TampaAirport.com > Learn about TPA > Airport Business > Airport Administration, will serve as the platform to guide the Awarded Respondent in its provision of Services.TimelineSolicitation Documents Posted:April 2, 2024Non-Mandatory Pre-Solicitation Conference:April 9, 2024, 11:00am In Person: Conference Room SC4-C3 - SkyCenter OR Microsoft Teams Meeting ID: 231 166 461 161 Passcode: KnaWLn Call-in: 813-694-2596 Conference ID: 155 877 007# Click here to join the Microsoft Teams Meeting: https://teams.microsoft.com/l/meetup-join/19%3ameeting_NjZhZTgwZDQtZWEyMC00MGRmLTk4MWUtZjQ2MjQwYWMxZWUz%40thread.v2/0?context=%7b%22Tid%22%3a%22a167a14b-a6cc-4d14-802d-3de615710e8b%22%2c%22Oid%22%3a%22f902b9be-d5a6-4b41-b014-69bab92587c3%22%7dNotice of evaluation meetings and Interviews posted to the Authority's webpage:April 10, 2024, 5:00pmQuestion and Clarification Deadline:April 12, 2024, 5:00pmFinal Addendum posted:April 29, 2024, 5:00pmResponse Deadline:May 3, 2024, 2:00pmMinimum qualifications evaluation meeting:May 10, 2024, 11:00am In Person: Conference Room SC4-C3 - SkyCenter OR Microsoft Teams Meeting ID: 242 217 528 679 Passcode: 3xxugG Call-in: 813-694-2596, Conference ID: 676 842 630# Click here to join the Microsoft Teams Meeting: https://teams.microsoft.com/l/meetup-join/19%3ameeting_OWMwMDY4YjctZDYxNi00YzBkLWJlZTctMTViOTVjYWNmNGNm%40thread.v2/0?context=%7b%22Tid%22%3a%22a167a14b-a6cc-4d14-802d-3de615710e8b%22%2c%22Oid%22%3a%22f902b9be-d5a6-4b41-b014-69bab92587c3%22%7dTechnical evaluation meeting:May 29, 2024, 9:00am In Person: Conference Room SC4-C3 - SkyCenter OR Microsoft Teams Meeting ID: 232 225 069 92 Passcode: r3YnKh Call-in: 813-694-2596 Conference ID: 686 773 676# Click here to join the Microsoft Teams Meeting: https://teams.microsoft.com/l/meetup-join/19%3ameeting_ZDgyYjA2MjctOTkxYS00ODE3LThmZDUtNjFmYWY5NGQ2MTMy%40thread.v2/0?context=%7b%22Tid%22%3a%22a167a14b-a6cc-4d14-802d-3de615710e8b%22%2c%22Oid%22%3a%22f902b9be-d5a6-4b41-b014-69bab92587c3%22%7dShort listing determined, if used:May 29, 2024Interviews:May 30, 2024 Time TBDFinal technical evaluation meeting:May 31, 2024, 10:00am In Person: Conference Room SC4-C3 - SkyCenter OR Microsoft Teams Meeting ID: 245 368 745 027 Passcode: TSgsu3 Call-in: 813-694-2596 Conference ID: 813 192 214# Click here to join the Microsoft Teams Meeting: https://teams.microsoft.com/l/meetup-join/19%3ameeting_NDgyNTk3MjEtMzJiYS00MzI3LWFkODItMTQ5M2JiMzcyODU2%40thread.v2/0?context=%7b%22Tid%22%3a%22a167a14b-a6cc-4d14-802d-3de615710e8b%22%2c%22Oid%22%3a%22f902b9be-d5a6-4b41-b014-69bab92587c3%22%7dShort Listed Respondent(s) for Negotiations approved by the Vice President of Procurement, if used:June 4, 2024Notice of Intent to Negotiate posted on Authority website (5 days prior to first negotiations meeting):June 5, 2024Begin Negotiation Phase:June 12, 2024Complete Negotiations:July 2, 2024Recommendation Meeting:July 3, 2024, 10:30amNotice of Intent to Award:July 9, 2024Selection and Award by the Authority’s Board:August 1, 2024, 9:00am Authority Boardroom - SkyCenter