Employee Benefit Study
| Agency: | Iowa State University |
|---|---|
| State: | Iowa |
| Type of Government: | State & Local |
| NAICS Category: |
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| Posted Date: | Dec 21, 2023 |
| Due Date: | Jan 19, 2024 |
| Solicitation No: | RFQ-1000907 |
| Bid Source: | Please Login to View Page |
| Contact information: | Please Login to View Page |
| Bid Documents: | Please Login to View Page |
Bid Information
|
Contact Information
|
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RFQ-1000907
Employee Benefit Study
Issue Date: 12/19/2023
Questions Deadline: 1/3/2024 10:00 AM (CT)
Response Deadline: 1/19/2024 03:00 PM (CT)
Contact Information
Contact: Stacy Sassman
Address: Procurement Services
1340 Administrative Services Building
2221 Wanda Daley Drive
Ames 50011-1004
Phone: (515) 294-9390
Email: ssassman@iastate.edu
Page 1 of 18 pages
Deadline: 1/19/2024 03:00 PM (CT)
RFQ-1000907
Event Information
Number:
RFQ-1000907
Title:
Employee Benefit Study
Type:
Request for Proposal (Public)
Issue Date:
12/19/2023
Question Deadline: 1/3/2024 10:00 AM (CT)
Response Deadline: 1/19/2024 03:00 PM (CT)
Notes:
Iowa State University of Science and Technology (ISU) is soliciting information from
qualified contractors to provide the goods and/or services described herein.
Contractors should read all materials carefully and note the due date.
Contractors must submit all questions in the "Questions" tab related to this bid
opportunity.
Bid responses will ONLY be accepted online via ISUBid. Please allow adequate
time to review and submit your response prior to the deadline.
Bid Attachments
ISU Instructions.pdf
Download
Review the instructions for important information. REVISED APRIL 2022
ISU General Terms & Conditions.pdf
Download
Review the general terms and conditions carefully and any exceptions should be listed in the "Attributes" section.
REVISED APRIL 2022
Insurance Language - Professional Services & Software Dev (On Campus) 09-
2021.pdf
Download
Insurance Requirements - Professional Services & Software Dev (On Campus) 09-2021.pdf
Requested Attachments
Access to Actuary
(Attachment required)
Provide documentation that your company has access to the services of a Fellow in the Society of Actuaries (FSA).
Rate Card
(Attachment required)
Provide a rate card detailing staff classification and hourly rates.
Bid Attributes
1 Evaluation Criteria
The evaluation of this RFP/RFQ may be based upon, but not limited to:Total cost to ISU
Experience providing like services, especially with similar higher education institutions
Provision of an example of at least one benefit study that resulted in significant health benefit changes
Demonstrated ability to provide quality services as evidenced by references
Project timeline and methodology
Ability to meet the requirements and terms and conditions of this bid
Read and understood
(Required: Check if applicable)
Page 2 of 18 pages
Deadline: 1/19/2024 03:00 PM (CT)
RFQ-1000907
2 Background
ISU administers a broad range of employee benefits (group Insurance and retirement) as well as paid time off
programs for over 6,800 employees. For more information about ISU's benefit offerings, visit their website at:
https://hr.iastate.edu/employee-benefits
ISU wishes to compare itself to the market on all of its benefit offerings but most importantly the medical benefits the
State offers.
3 Scope of Work
Iowa State University (ISU) is interested in securing a Benefit Consultant to conduct a market-based employee
benefit study and assist University Human Resources (UHR) with developing a strategy related to competitive
benchmarking analysis of its benefits. At the conclusion of this engagement the consultant would provide a final
benefit report with recommendations, including an executive summary. A more detailed list of services is as follows:
A detailed analysis and comparison of ISU's offerings as they relate to the results of the market review. The
analysis and comparison will include an overall comparison to our defined market.
Provision of holistic recommendations to align ISU offerings to market and to ensure ISU’s benefits package
assists with the attraction, retention and engagement of talent. The recommendation should outline all steps
necessary to reach an ideal benefit structure that is competitive with the market
Based on market review, provide advice and assistance in implementing any type of work life, wellness or
voluntary benefits that ISU may deem appropriate.
ISU is also interested in the consultant measuring the relative value and competitiveness of ISU's benefit
programs separately for defined generational cohorts.
4 Conflicts of Interest
In order to prevent conflicts of interest, or the appearance of conflicts of interest, and to ensure objectivity of the
consultant's recommendations, bidders must state their neutrality relative to specific insurance and supplemental
retirement provider groups and specific insurance carriers. Bidders must also state that no benefit will accrue to its
organization, to its staff, or to its members (if an association) from a provider group or carrier as a result of its final
recommendations to Iowa State University. Also, clearly state that the references given in response to the Request
for Proposal will confirm that the bidders services were provided without bias in favor of a particular provider group
or carrier.
(Required: Maximum 1000 characters allowed)
5 Access to Actuary
Documentation must be provided in the Response Attachments tab showing that your company has access to the
services of a Fellow in the Society of Actuaries (FSA).
Read and understood
(Required: Check if applicable)
6 Company Information and Background
Page 3 of 18 pages
Deadline: 1/19/2024 03:00 PM (CT)
RFQ-1000907
7 Provide a brief description of your core business.
(Required: Maximum 4000 characters allowed)
8 Briefly describe your history and experience in conducting market-based benefit studies on behalf of
large public or higher education clients.
(Required: Maximum 4000 characters allowed)
9 What is the total number of employees at your firm and the total number of employees engaged in
conducting benefit studies?
(Required: Maximum 4000 characters allowed)
1 Identify how long your company has been in business.
0 Specifically, indicate how long your company has provided employee benefit consulting services. The response to
this item should include a brief history of the company as well as its mission, vision and goals in meeting client
needs.
(Required: Maximum 4000 characters allowed)
Page 4 of 18 pages
Deadline: 1/19/2024 03:00 PM (CT)
RFQ-1000907
1 Indicate whether your company has ever been a party to litigation related to providing consulting
1 services.
If so, provide details of the specifics. Failure to disclose may constitute grounds for rejection of any proposal for
termination of any contract.
(Required: Maximum 4000 characters allowed)
1 Designate the names, titles, and location of the following representatives of the company.
2 The key individual who will be assigned overall contract management and
The key individual responsible for project management of this proposed engagement.
(Required: Maximum 4000 characters allowed)
1 Program experience, model and process
3
1 What are the top three distinguishing characteristics related to your approach, process or oversight
4 related to your benefit study services?
What are the key points of differentiation from your competitors?
(Required: Maximum 4000 characters allowed)
1 How would you categorize your model?
5 Please describe your process in detail.
(Required: Maximum 4000 characters allowed)
Page 5 of 18 pages
Deadline: 1/19/2024 03:00 PM (CT)
RFQ-1000907
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