Defined Benefit Administration Services

The Vendor is required to provide the defined benefit administration of a legacy retirement plan for the city.
- Provide a strong, long-term partnership to manage the day-to-day administration of its legacy employee’s retirement plan.
- The City has a total of 200 participants in the legacy retirement plan including 70 inactive participants with deferred vested benefits, and 130 retirees or beneficiaries receiving pension payments.
- Administrative services that the City is in need of include the following:
•    All data (participant and financial) gathering, processing, storage, and transmission;
•    Dissemination of related annual notices to participants;
•    Preparation of all required federal and state paperwork and reports to ensure regulatory requirements are met;
•    Providing annual defined benefit valuation data to plan actuary;
•    All benefit estimates, calculations and forms;
•    Reconciliation of retiree payment register;
•    Organization qualification and distribution;
•    Electronic and telephonic participant access to administrative staff.

- Contract Period/Term: 3 years
- Questions/Inquires Deadline: August 8, 2025