To Whom It May Concern:
This Request for Proposal (RFP) is issued by the Department of Employee Trust Funds (ETF) on behalf of the Deferred Compensation Board for the purpose of soliciting proposals for a provider or providers for a Wisconsin Deferred Compensation Program (WDC) FDIC-insured investment option.
The WDC is an unbundled, qualified deferred compensation program under Section 457 of the Internal Revenue Code that is overseen by the Deferred Compensation Board. As of December 2012, approximately 52,000 participants held over $3 billion in assets in the WDC. As of December 31, 2012, 4,968 WDC participants held more than $97 million in the existing FDIC option. The WDC was created by the Wisconsin Laws of 1981, Ch. 187 and established in 1982 for state employees and has been available to local public employees since 1985. Wisconsin Statute Chapter 40, Subchapter VII, Chapter ETF 70 of Wisconsin Administrative Code and the Wisconsin Plan and Trust Document regulate the WDC and set forth the rules and responsibilities of all parties involved with the program.
The contract is proposed to be effective September 15, 2013 and will remain in effect until terminated by the Board or the selected vendor.
Proposals are due April 4, 2013. Amendments, questions and answers will be posted on http://etfextranet.it.state.wi.us and will not be mailed.
Contact Mark Blank via e-mail at ETFProcurement@etf.wi.gov with questions regarding this RFP. The RFP number must be referenced in the subject line of the e-mail.
|Johnson Bank Contract|
|10/29/13||Nationwide Bank Contract|
|6/13/13||Post Recommendation to Board|
|6/13/13||Post Scoring Sheet|
|6/13/13||Post Intent to Contract with Nationwide Bank|
|3/23/13||Questions and Answers Set 2|
|3/14/13||Questions and Answers Set 1|
|3/14/13||Posted link to existing FDIC deposit agreement in "Reference Materials" section|
|3/14/13||Posted revised Table 2: Calendar of Events with changes indicated in bold letters|
|2/13/13||Issue Request for Proposal|
RFP Main Document
|Wis. State Statutes Ch. 40, Subch. VII||http://www.legis.state.wi.us/statutes/Stat0040.pdf|
|Ch. ETF 70, WI Admin. Code||http://www.legis.state.wi.us/rsb/code/etf/etf070.pdf|
|Employee Trust Funds Internet Site||http://etf.wi.gov|
|Wisconsin Deferred Compensation Program Internet Site||www.wdc457.org|
|Wisconsin Deferred Compensation Program Fact Sheet||http://etf.wi.gov/publications/et8904.pdf||WDC Agreement for the Deposit of Deferred Compensation Funds||http://etfextranet.it.state.wi.us/etf/internet/RFP/WDC-FDIC/current-contract.pdf|
Table 2: Calendar of Events
|February 13, 2013||Issue RFP|
|February 27, 2013||Letter of intent and vendor questions due|
|March 6, 2013||Vendor Conference (if necessary)|
|March 14, 2013||Post answers to questions on ETF Extranet|
|April 4, 2013; 2:00 P.M. CDT||RFP proposals due|
|June 6, 2013||Notify vendors of intent to award contract|
|June 12, 2013||Begin contract negotiations|
|September 15, 2013||Anticipated contract start date|
|November 1, 2013||Expected asset conversion date|
*All dates are estimated with the exception of RFP proposal due date and time.