This Solicitation opportunity from California was posted on December 11, 2024. The submission period has ended. Browse the details below for market research, or find similar active opportunities.

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Deferred Compensation Plan Advisor Services

Closed

2024-10774State & Local

Submission Closed01/09/2025, 12:00:00 AM UTC

Contract Overview

Solicitation details, issuing organization, response deadlines, documents, and interested companies for this government contract opportunity.

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NAICS: 541612

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SLED

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Solicitation # 77-27-YE

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Quality Assurance

POSTED

1 day ago

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in 1 day

AI Contract Overview

The Port of Portland maintains a deferred compensation plan under Section 457(b), currently managed by Lincoln Financial Group, with assets exceeding $114 million and 827 participants as of June 30, 2024. The Port aims to sustain high-quality oversight of the plan through its committee, which conducts quarterly meetings to review and manage investment options, plan design, and best practices. The oversight also involves actively promoting employee participation and providing training to both the committee and employees. Additionally, the Port seeks to periodically benchmark the plan's competitiveness by comparing its investment funds, services, fees, and design features against market offerings to ensure it remains aligned with industry standards. The contract for advisory services, titled "Deferred Compensation Plan Advisor Services," is part of a solicitation process posted on December 11, 2024, with a response deadline of January 9, 2025. The contract is valued between $50,000 and $150,000 and is intended to support the Port’s ongoing efforts to optimize plan performance and competitiveness. The Port emphasizes a collaborative approach with its plan advisor to enhance oversight, ensure compliance, and maintain a high level of service for plan participants, reflecting its commitment to providing a robust and competitive deferred compensation program for its employees.

General Info

Agency

California → Port of Portland

NAICS

541612 - Human Resources Consulting Services

Place of Performance

CA, USA

Set-Aside

NONE

Documents

No documents available

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Timeline

PhaseClosed

PostedDec 11

Solicitation

Response DeadlineJan 9

Deadline has passed

Submission Closed

01/09/2025, 12:00:00 AM UTC

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Organization & Contact Information

AgencyCalifornia → Port of Portland

Contacts1 person available

OfficeN/A

Organization / AgencyCalifornia → Port of Portland

Office AddressN/A

Contacts

Murphy Craig

contact@example.gov

+1 (555) 000-0000

Full Description

The Port offers employees an eligible deferred compensation plan as that term is defined under Section 457(b). The Plan is presently serviced by Lincoln Financial Group (LFG) as the record keeper. As of June 30, 2024, total assets under management were above $114 million with 827 plan participants.The Port wishes to continue to provide a high level of oversight through its Committee and their partnership with LFG and plan advisor. Oversight of the plan includes but is not limited to: quarterly meetings with the committee; review, watch and replacement of investment options; review of plan design options and best practices; actively promoting plan participation; and providing training to the committee and Port employees. During the term of the contract, the Port would also like to informally benchmark the competitiveness of its current Plan by comparing its existing investment funds, plan design, services, and related fees to those currently available in the marketplace.