RFP 26-011-67 Questions and Answers No. 1
| Agency: | Shelby County |
|---|---|
| State: | Tennessee |
| Type of Government: | State & Local |
| NAICS Category: |
|
| Posted Date: | Dec 24, 2025 |
| Due Date: | Jan 20, 2026 |
| Original Source: | Please Login to View Page |
| Contact information: | Please Login to View Page |
| Bid Documents: | Please Login to View Page |
Bid Title:
RFP 26-011-67 Questions and Answers No. 1
Category:
Human Resources
Status:
Open
Publish Date:
Wednesday, December 24, 2025 - 10:30am
Close Date:
01/20/2026 - 4:00pm
Contact Person:
Christina Lemartin
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Shelby County
Tennessee
Lee Harris, Mayor
QUESTIONS & ANSWERS No. 1
Issued: December 23, 2025
Deferred Compensation Plan Administration
(Human Resource)
TO ALL PROSPECTIVE BIDDERS:
The following question(s) were submitted by potential bidders with answers listed below in red:
Q-1. How is the Shelby County Fixed Fund traded today?
A-1. Guaranteed Income Fund is an Empower product that is held at Empower, backed
by the General Account. The EASY recordkeeping system is used to provide participant
level recordkeeping and handles daily transactions.
Q-2. What is the pricing valuation structure?
Is it daily valued or daily factor?
Will Empower provide us with the price, or will we need to calculate it?
A-2. Is it daily valued or daily factor? Interest is credited to balances on deposit in the
Guaranteed Income Fund on a daily basis based on the daily equivalent of the annual effective
crediting rate (“daily factor”), which is applicable to such balances.
Will Empower provide us with the price, or will we need to calculate it? Yes, Empower
provides.
Q-3. The sample contract in RFP 26-011-67 Exhibit D is only one page. Could you please
provide a full sample contract?
A-3. The bidding vendor is to provide the sample contract.
Q-4. We will provide responses in the required Excel document. However, due to size
limitations, are we permitted to also submit an expanded version in a separate Word document?
A-4. Yes, include the location of the referenced information in the column titled “Ref. to
appendix, if applicable"
Q-5. Should Shelby County terminate with the incumbent, what would the credited rate of the
Guaranteed Fund be reduced to at the time of deconversion?
1
A-5. The crediting rate would be 1.50%.
Q-6. Please provide the total annual contributions for 2025 and 2023).
A-6.
YEAR
Contribution Amount
2023*
$ 6,063,644.86
* not an exact amount as there was 20-day overlap with provider systems
YTD 09/30/2025 $5,433,423
Q-7. Please provide the total annual distributions for 2025 and 2023).
A-7.
YEAR
Distribution Amount
2023*
$ 13,799,176.87
* not an exact amount as there was 20-day overlap with provider systems
YTD 09/30/2025 $12.2M
Q-8. Is the County currently satisfied with the level of service provided by the local
representative?
A-8. No response will be provided.
Q-9. What types of financial education topics does the advisor currently offer? (Retirement
readiness, debt, budgeting, Social Security, etc.)
A-9. Currently, the advisor does not provide education to participants.
Q-10. What financial wellness programs does the recordkeeper currently provide? (Workshops,
webinars, financial planning, retirement readiness tools.)
A-10. The current vendor offers financial wellness programs.
Q-11. What types of communication materials does the recordkeeper supply? (Enrollment kits,
posters, email campaigns.)
A-11. Materials include email campaigns, mailers, enrollment communications
delivered via a multichannel approach, brochures, posters, and infographics.
Q-12. Plan data provided in the Empower Retirement Report and Creative Planning Report is
from 12/31/24. Is more recent data available including total assets, asset allocation by fund, total
participants with a balance, actively contributing participants, 2025 contributions, 2025
distributions?
A-12. 09-30-2025 asset total: $159,985,474; below is breakdown
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9-30-2025
Active Participants with a balance: 1770
Separate Participants with a balance: 722
YEAR
Contribution Amount
YTD 09/30/2025 $5,433,423
YEAR
Distribution Amount
YTD 09/30/2025 $12.2M
Q-13. Please confirm the initial contract is for 3 years from 7/1/26 – 6/30/29 with only one
additional one-year renewal.
A-13. Yes.
3
Q-14. Will any allowance or payment to a plan expense account be expected from the service
provider?
A-14. Currently, there is no revenue sharing or float allowance that would be funneled
to a plan expense account. Empower currently has direction from the plan sponsor to
collect advisor fees from participants that are accumulated and paid out from the plan
expense account. Going forward, it is expected that participants pay the service provider
and advisor fees.
Q-15. Does the plan currently offer managed accounts? If so, what is the asset allocation?
A-15. The Plan does not offer managed accounts.
Q-16. Does the plan currently offer a self-directed brokerage option? If so, what is the asset
allocation?
A-16. There is not a self-directed brokerage account option.
Q-17. Please describe the current fixed account or stable value options offered by the
provider. Please include current crediting rates, minimum guarantees, withdrawal restrictions,
market value adjustments, surrender charges, required put notices or any other encumbrance to
liquidation.
A-17. Effective 01-21-2026: Putnam Stable Value will be the only capital preservation
fund available for new contributions. 09-30-2025 net crediting rate: 4.09%; the exit
provision is a 12- month put. The 90-day equity wash rule will apply.
Q-18. Please confirm the liquidity provision of the Guaranteed Interest Fund. In section “VII.
General Requirements and Information” on Page 10, The RFP states that 50% will be transferred
after one-year and 50% will be transferred after 2 years. However, the “Exhibit B: Creative
Planning Management Report” pdf shows the following on page 49 of 61:
a. Paid immediately subject to an MVA.
b. Paid at book value over 20 quarters.
c. Another liquidity provision is agreed upon in writing.
A-18. The Management Report lists the exit provisions per the contract. The RFP lists the
current details agreed to by the current vendor and the Plan.
Q-19. Are assets mappable at the plan level or via individual exchange?
A-19. Investments available to the Plan occur at Plan level.
Q-20. Are there any restrictions on the Fixed Account? i.e. 6/5 payout
A-20. Effective 01-21-2026: Putnam Stable Value will be the only capital preservation fund
available for new contributions. No new contributions will be accepted into the Guaranteed
Interest Fund; therefore, the 90-day equity wash rule will apply. The current vendor and the Plan
have agreed that the Guaranteed Interest Fund payout of 50% will be transferred after one-year
and 50% will be transferred after 2 years.
Q-21. What should we include for meeting days?
4
A-21. We would expect to have quarterly meetings regarding the County’s plan
performance.
Q-22. Would you be able to provide a more current asset breakdown and participant count?
A-22. 9-30-2025
Active Participants with a balance: 1770
Separate Participants with a balance: 722
Eligible Participants not participating: 3959
09-30-2025 asset total: $159,985,474; below is breakdown
Q-23. VII. General Requirements and Information, Section C. Cybersecurity, Data
Protection and Patching, number 10: The RFP requires Respondent to sign “any documents
reasonably necessary,” including the Shelby County Confidential Data Vendor Agreement,
Acceptable Use Policy, and various security and breach-notification policies.
To accurately assess these obligations, could the County please provide copies of all documents
and policies Respondents would be required to sign or comply with, including any data security,
network security, or breach-notification policies referenced?
A-23. Reference Exhibit G.
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