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Item 08 - Agreement with Benefit Financial Services Group for Administrative, Investment, and Communication Services
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Item 08 - Agreement with Benefit Financial Services Group for Administrative, Investment, and Communication Services
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12/3/2024 3:00:04 PM
Creation date
11/27/2024 10:56:10 AM
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City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
8
Date
12/3/2024
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(Z) <br />CITY OF SANTA ANA <br />EXHIBIT I <br />SCOPE OF SERVICES <br />The consultant shall perform services as set forth below: <br />A. Administrative Responsibilities <br />1. Ensure plan design compliance. <br />2. Prepare an onboard ing/implementation plan before commencing the service. <br />3. Provide regulatory/technical guidance. <br />4. Prepare an annual plan provider cost analysis. <br />5. Assist in development of Request for Proposals for Plan Provider, if needed. <br />6. Ensure best practices are met in the interest of the participants. <br />B. Investment Responsibilities <br />1. Conduct up to four quarterly reviews of investment options. <br />2. Conduct due diligence on current investment options and make recommendations on <br />alternative options. <br />3. Assist in implementing fund changes and transitions. <br />4. Maintain and revise the Investment Policy Statement for the Plan. <br />5. Attend on -site meetings and provided recorded minutes for each meeting/conference call. <br />6. Ensure best practices are met in the review & evaluation of investment options. <br />C. Communication Responsibilities <br />1. Assist the Committee with developing marketing and education strategies for participants. <br />2. Assist the Committee with developing marketing & education materials. <br />3. Provide educational seminars that will supplement the seminars conducted by the Plan <br />Provider. <br />D. Fee and Cost Analysis <br />1. Periodically evaluate and benchmark all fees and costs associated with the plans, including <br />fee structure. <br />City of Santa Ana RFP No. 24-109 <br />
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