Retiree Health Savings Program Recordkeeping and Third-Party Administrator Services

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Agency:	State of Vermont
State:	Vermont
Level of Government:	State & Local
Category:	Q - Medical Services R - Professional, Administrative and Management Support Services
Opps ID:	NBD14408828578390313
Posted Date:	Mar 11, 2024
Due Date:	Mar 22, 2024
Source:	Members Only

TITLE	QUESTIONS DUE	ANSWERS POSTED	DUE DATE	NO POSTING AFTER
Retiree Health Savings Program Recordkeeping and Third-Party Administrator Services Samples Directed Trust Agreement 2023	03/01/2024 04:30PM	Q&A - TRE Health Savings Program Records Admin. (03/11/2024)	03/22/2024 04:30PM

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Office of the State Treasurer

109 State Street

[phone]

Montpelier VT 05609-3001

[fax]

http://bgs.vermont.gov/purchasing

802-828-2211

802-828-2222

SEALED BID

REQUEST FOR PROPOSAL

Retiree Health Savings Program Recordkeeping and

Third-Party Administrator Services

ISSUE DATE:

February 16, 2024

QUESTIONS DUE BY:

RFP RESPONSES DUE BY:

March 1, 2024 @ 4:30pm

March 22, 2024 @ 4:30pm

PLEASE BE ADVISED THAT ALL NOTIFICATIONS, RELEASES, AND ADDENDUMS ASSOCIATED

WITH THIS RFP WILL BE POSTED AT:

http://www.bgs.state.vt.us/pca/bids/bids.php

THE STATE WILL MAKE NO ATTEMPT TO CONTACT INTERESTED PARTIES WITH UPDATED

INFORMATION. IT IS THE RESPONSIBILITY OF EACH BIDDER TO PERIODICALLY CHECK THE

ABOVE WEBPAGEFOR ANY AND ALL NOTIFICATIONS, RELEASES AND ADDENDUMS

ASSOCIATED WITH THIS RFP.

STATE CONTACT:

Kyle Emerson

E-MAIL:

kyle.emerson@vermont.gov

USE SUBJECT: RETIREE HEALTH SAVINGS RECORDS & ADMIN

1. OVERVIEW:

1.1. SCOPE AND BACKGROUND: Through this Request for Proposal (RFP) the Vermont Municipal

Employees Retirement Systems and Vermont State Treasurer’s Office (hereinafter the “State”) are

seeking to establish contracts with one or more companies that can provide Recordkeeping and Third-

Party Administrator Services for a Municipal Retiree Health Savings Plan.

1.2. CONTRACT PERIOD: Contracts arising from this RFP will be for a period of five years with an option to

renew for up to two additional 2-year periods. The State anticipates the start date will be July 1, 2024.

1.3. SINGLE POINT OF CONTACT: All communications concerning this RFP are to be addressed in writing

to the State Contact listed on the front page of this RFP. Actual or attempted contact with any other

individual from the State concerning this RFP is strictly prohibited and may result in disqualification.

1.4. QUESTION AND ANSWER PERIOD: Any vendor requiring clarification of any section of this RFP or

wishing to comment on any requirement of the RFP must submit specific questions in writing no later

than the deadline for question indicated on the first page of this RFP. Questions may be e-mailed to the

point of contact on the front page of this RFP. Questions or comments not raised in writing on or before

the last day of the question period are thereafter waived. At the close of the question period a copy of all

questions or comments and the State's responses will be posted on the State’s web site

http://www.bgs.state.vt.us/pca/bids/bids.php Every effort will be made to post this information as soon as

possible after the question period ends, contingent on the number and complexity of the questions.

1.5. CHANGES TO THIS RFP: Any modifications to this RFP will be made in writing by the State through the

issuance of an Addendum to this RFP and posted online at http://www.bgs.state.vt.us/pca/bids/bids.php .

Modifications from any other source are not to be considered.

2. DETAILED REQUIREMENTS / DESIRED OUTCOMES:

2.1. General Information

The State invites proposals from qualified firms to provide administration, recordkeeping, and education

services, for the Municipal RHS Plan – a retirement health reimbursement arrangement – consistent with

the terms set forth in the attached document labeled Appendix 5: Governmental Affiliate-Funded Retiree

Health Reimbursement Arrangement (Plan Document).

The Municipal RHS Plan was funded during a time when the VMERS defined benefit retirement system

was funded at a level greater than 100%, with benefits provided to individuals who were members at the

time of funding. Future contributions are not expected at this time.

Basic financial statistics related to this plan are as follows. Numbers are as of 12/31/2023.

o Total Plan Assets:

$12.7 million

o Number of Participants:

3,344 (comprised of 1,266 Active and 2,078 Terminated)

2.2. Services Requested

The State seeks to secure a contract(s) from a bidder(s) that can offer full third-party administration and

recordkeeping services to the Plan. Specifically, the State expects the successful bidder to provide

custodial trustee services, plan administration and recordkeeping services, and participant communication

and education services. The State also expects the successful bidder to provide plan regulatory

compliance services, reporting, and investment management services. These services are expected to be

provided at a level commensurate with the Plan Document set forth in the Appendix.

2.3. Requirements Related to Conflicts of Interest and Independence

Bidders shall identify all existing or potential conflicts of interest that would prevent the bidder from fully

performing the tasks described in this RFP. Such disclosure will be a continuing requirement subsequent

to award of a Contract and for the life of the Contract.

In all matters relating to work required by the State the bidder shall remain free from personal and external

impediments to independence, and verify its organization is independent and will maintain an independent

attitude and appearance with respect to the services required.

RFP Revised July 19, 2019

2.4. Insurance Coverage

The Contractor shall maintain an errors and omissions insurance policy, which provides a prudent amount

of coverage for the negligent or willful acts or omissions of any shareholder, employee or agents thereof.

The Contractor shall also maintain policies pursuant to the State’s Standard Contract provisions as defined

in Attachment C of Exhibit I.

3. GENERAL REQUIREMENTS:

3.1. COSTS/PRICING: Please provide your fee inclusive of all professional and out-of pocket expenses (out-

of-pocket expenses include but are not limited to travel, communications, production and other office

expenses) for services outlined in this RFP. The fee may be stated as: an asset based fee, a per-

participant fee, or a combination of the two.

NOTE: The technical and cost proposals should be included as separate PDF documents in your

firm’s transmittal e-mail and labeled: “[Your Firm’s Name] Technical Proposal” and “[Your

Firm’s Name] Cost Proposal.” Cost information is NOT to be provided in any part of the bidder’s

Technical Proposal.

3.2. Bidders must price the terms of this solicitation at their best pricing. Any and all costs that Bidder wishes

the State to consider must be submitted for consideration.

3.2.1.Prices and/or rates shall remain firm for the initial term of the contract. The pricing policy submitted by

Bidder must (i) be clearly structured, accountable, and auditable and (ii) cover the full spectrum of

materials and/or services required.

3.2.2.Cooperative Agreements. Bidders that have been awarded similar contracts through a competitive

bidding process with another state and/or cooperative are welcome to submit the pricing in response

to this solicitation.

3.3. BEST AND FINAL OFFER:

3.3.1.Best and Final Offer (BAFO). At any time after submission of Responses and prior to the final

selection of Bidder(s) for Contract negotiation or execution, the State may invite Bidder(s) to provide a

BAFO.

3.3.1.1. The state reserves the right to request BAFOs from only those Bidders that meet the minimum

qualification requirements and/or have not been eliminated from consideration during the

evaluation process.

3.3.2.Evaluation of Responses and Selection of Bidder(s). The State shall have the authority to

evaluate Responses and select the Bidder(s) as may be determined to be in the best interest of the

State and consistent with the goals and performance requirements outlined in this RFP.

3.4. WORKER CLASSIFICATION COMPLIANCE REQUIREMENTS: In accordance with Section 32 of The

Vermont Recovery and Reinvestment Act of 2009 (Act No. 54), Bidders must comply with the following

provisions and requirements.

3.4.1.Self Reporting: For bid amounts exceeding $250,000.00, Bidder shall complete the appropriate

section in the attached Certificate of Compliance for purposes of self-reporting information relating to

past violations, convictions, suspensions, and any other information related to past performance

relative to coding and classification of workers. The State is requiring information on any violations

that occurred in the previous 12 months.

3.4.2.Subcontractor Reporting: For bid amounts exceeding $250,000.00, Bidders are hereby notified that

upon award of contract, and prior to contract execution, the State shall be provided with a list of all

proposed subcontractors and subcontractors’ subcontractors, together with the identity of those

subcontractors’ workers compensation insurance providers, and additional required or requested

information, as applicable, in accordance with Section 32 of The Vermont Recovery and

Reinvestment Act of 2009 (Act No. 54). This requirement does not apply to subcontractors providing

supplies only and no labor to the overall contract or project. This list MUST be updated and provided

to the State as additional subcontractors are hired. A sample form is available online at

http://bgs.vermont.gov/purchasing-contracting/forms. The subcontractor reporting form is not

required to be submitted with the bid response.

3.5. EXECUTIVE ORDER 05-16: CLIMATE CHANGE CONSIDERATIONS IN STATE PROCUREMENTS:

For bid amounts exceeding $25,000.00 Bidders are requested to complete the Climate Change

Considerations in State Procurements Certification, which is included in the Certificate of Compliance for

this RFP.

After consideration of all relevant factors, a bidder that demonstrates business practices that promote

clean energy and address climate change as identified in the Certification, shall be given favorable

consideration in the competitive bidding process. Such favorable consideration shall be consistent with

and not supersede any preference given to resident bidders of the State and/or products raised or

manufactured in the State, as explained in the Method of Award section. But, such favorable

consideration shall not be employed if prohibited by law or other relevant authority or agreement.

3.6. METHOD OF AWARD: Awards will be made in the best interest of the State. The State may award one

or more contracts and reserves the right to make additional awards to other compliant bidders at any time

if such award is deemed to be in the best interest of the State. All other considerations being equal,

preference will be given first to resident bidders of the state and/or to products raised or manufactured in

the state, and then to bidders who have practices that promote clean energy and address climate change,

as identified in the applicable Certificate of Compliance.

3.6.1.Evaluation Criteria: Consideration shall be given to the Bidder’s project approach and methodology,

qualifications and experience, ability to provide the services within the defined timeline, cost, and/or

success in completing similar projects, as applicable, and to the extent specified below. The Office of

the State Treasurer will conduct a fair and impartial evaluation of the proposals received in response

to this RFP.

Fees and compensation will be an important factor in the evaluation of responses. However, the

Office of the State Treasurer is not required to select the low-cost bidder, but may select the bid that

demonstrates the “best value” overall, including proposed alternatives, and that meets the objectives

of this RFP. The Office of the State Treasurer reserves the right to negotiate a change in any

element of contract performance or cost identified in the RFP. The factors to be used by the

Treasurer’s Office in evaluating the proposals will include, but are not limited to, the following:

Evaluation of Proposals

A. RFP Understanding

Approach

Clarity

Creativity of proposal

Responsiveness to Scope of Services and ability to provide requested services

B. General Experience and Qualifications of Firm

Experience

Assigned personnel

Any other resources assigned to State

C. Cost

The Office of the State Treasurer reserves the right to seek clarification of any proposal submitted,

request oral presentations and to select the proposal considered to best promote the public interest.

The State of Vermont is conscious of and concerned about collusion. It should therefore be

understood by all that in signing the bid and contract documents they agree that the prices quoted

have been arrived at without collusion and that no prior information concerning these prices has been

received from or given to a competitive company.

3.7. STATEMENT OF RIGHTS: The State of Vermont reserves the right to obtain clarification or additional

information necessary to properly evaluate a proposal. Vendors may be asked to give a verbal

presentation of their proposal after submission. Failure of vendor to respond to a request for additional

information or clarification could result in rejection of that vendor's proposal. To secure a project that is

deemed to be in the best interest of the State, the State reserves the right to accept or reject any and all

bids, in whole or in part, with or without cause, and to waive technicalities in submissions. The State also

reserves the right to make purchases outside of the awarded contracts where it is deemed in the best

interest of the State.

3.8. CONTRACT TERMS: The selected bidder(s) will be expected to sign a contract with the State, including

the Standard Contract Form and Attachment C as attached to this RFP for reference. If IT Attachment D

is included in this RFP, terms may be modified based upon the solution proposed by the Bidder, subject to

approval by the Agency of Digital Services.

3.8.1.Business Registration. To be awarded a contract by the State of Vermont a bidder (except an

individual doing business in his/her own name) must be registered with the Vermont Secretary of

State’s office https://sos.vermont.gov/corporations/registration/ and must obtain a Contractor’s

Business Account Number issued by the Vermont Department of Taxes http://tax.vermont.gov/ .

3.8.2.The contract will obligate the bidder to provide the services and/or products identified in its bid, at the

prices listed.

3.8.3.Payment Terms. Percentage discounts may be offered for prompt payments of invoices; however,

such discounts must be in effect for a period of 30 days or more in order to be considered in making

awards.

3.8.4.Quality. If applicable, all products provided under a contract with the State will be new and unused,

unless otherwise stated. Factory seconds or remanufactured products will not be accepted unless

specifically requested by the purchasing agency. All products provided by the contractor must meet

all federal, state, and local standards for quality and safety requirements. Products not meeting these

standards will be deemed unacceptable and returned to the contractor for credit at no charge to the

State.

3.9. CONTRACT NEGOTIATION: Upon completion of the evaluation process, the State may select one or

more bidders with which to negotiate a contract, based on the evaluation findings and other criteria

deemed relevant for ensuring that the decision made is in the best interest of the State. In the event State

is not successful in negotiating a contract with a selected bidder, the State reserves the option of

negotiating with another bidder, or to end the proposal process entirely.

4. CONTENT AND FORMAT OF RESPONSES: The content and format requirements listed below are the

minimum requirements for State evaluation. These requirements are not intended to limit the content of a

Bidder’s proposal. Bidders may include additional information or offer alternative solutions for the State’s

consideration. However, the State discourages overly lengthy and costly proposals, and Bidders are advised to

include only such information in their response as may be relevant to the requirements of this RFP.

The bidder is encouraged to include additional information or data as may be appropriate or to offer alternate

solutions. However, the bidder should not exclude from its proposal any portion requested in this document.

Proposals that vary materially from this prescribed format may be judged non-compliant and withdrawn from

consideration. The bidder should also list any potential conflicts of interest including an explanation.

Bidders are to organize their proposals into two separate PDF documents comprising five parts with a cover

letter and other administrative information as follows:

PDF Document 1: Technical Proposal

Part I – Administrative

Part II

Part III

Part IV

PDF Document 2: Cost Proposal

Part V

Cover page

Cover Letter as described below

Tax Certificate

Table of Contents

Bidder Information

Technical Approach

Bidder References

Cost

This is the opportunity summary page. You are currently viewing an overview of this opportunity and a preview of the attached documentation. For more information, please visit the Publication URL Web page.

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