HomeMy WebLinkAboutRFP Answers to Questions - Addendum 3Deferred Comp RFP Questions and Answers
1. Regarding the RHS Plan, how many participants are in claims eligible status?
Answer: Please see the Chart below for information related to the RHS Plan
Shuster Advisory Group, LLC
City of San Luis Obispo HRA/RHS - 803412
Plan Statistics and Information
2023 2024 2025 3/31/2026
Assets $1,618,966 $1,712,651 $1,873,020 $1,831,989
Variable $1,575,063 $1,667,783 $1,831,072 $1,796,977
Fixed $43,903 $44,868 $41,948 $35,012
Contributions $0 $0 $0 $0
Withdrawals $78,005 $61,328 $61,917 $15,433
Net Cash Flow ($78,005) ($61,328) ($61,917) ($15,433)
Plan Participants
- Active with a
Balance 0
- Terminated with a
Balance 135
- Other (explain) -
Active (non-
contributing) with a
Balance
77
Total Participants 212
2. Unique Participants
How many unique participants are there across the plans? Said another way, of the 100
participants in the 401(a) plan, are all of those participants also enrolled in the 457(b) plan?
Answer: It can be assumed that many participants in the 401(a) plan also have participated
in the 457(b) Plans.
3. OBRA Plan Balances
How many terminated participants in the OBRA plan have account balances under $7,000?
Answer: 1,394 participants have not contributed to the plan since May 2024 and have a
balance less than $7,000
4. HRA Plan Information
Who is the current provider for the HRA plan? Additionally, would you be able to provide a
copy of the HRA contract and plan documents?
Answer: The current record-keeper, contract and plan documents are not relevant to this
RFP. Below is additional information about the HRA Plan:
Shuster Advisory Group, LLC
City of San Luis Obispo HRA/RHS - 803412
Plan Statistics and Information
2023 2024 2025 3/31/2026
Total Non-Claims
Active 201
Total Claims Active 11
Assets $1,618,966 $1,712,651 $1,873,020 $1,831,989
Variable $1,575,063 $1,667,783 $1,831,072 $1,796,977
Fixed $43,903 $44,868 $41,948 $35,012
Contributions $0 $0 $0 $0
Withdrawals $78,005 $61,328 $61,917 $15,433
Net Cash Flow ($78,005) ($61,328) ($61,917) ($15,433)
Plan Participants
- Active with a Balance 0
- Terminated with a
Balance 135
- Other (explain) -
Active (non-contributing)
with a Balance
77
Total Participants 212
Total Non-Claims Active 201
Total Claims Active 11
5. 401(a) Money Market Assets
For the 401(a) plan currently with Recordkeeper #4, how much of the plan's assets are
invested in the money market fund?
Answer: This detail was not available from the current record keeper at the time of
issuance of the RFP. However, any amount this is in the Money Market fund will be mapped
to the Vanguard Federal Money Market Fund (VMFXX) at transition.
6. Brokerage Provider
Which provider is currently being used for brokerage accounts?
Answer: Self-Directed Brokerage Accounts are currently not available in the plans.
7. Pricing Request Spreadsheet
In Section L, Proposal Form: Pricing Request, the instructions indicate that respondents
should use the fillable Excel version included in the bid packet. However, the bid packet
appears to contain only the Fixed Product Data file. Would you please provide a copy of the
Pricing Request Excel spreadsheet?
Answer: The Pricing Request Document is available on the BidNet website.
8. Please provide the Proposal Form: Pricing Request excel document noted page 17.
Answer: The Pricing Request Document is available on the BidNet website.
9. In reference to the HRA Plan:
What were the annual benefits payments for the last 3 years?
How many participants are in claims eligible status?
Please provide contributions and distributions for the last 2 years.
Please provide the number of active vs in-active participants.
Answer: The chart below contains the above requested information
Shuster Advisory Group, LLC
City of San Luis Obispo HRA/RHS - 803412
Plan Statistics and Information
2023 2024 2025 3/31/2026
Assets $1,618,966 $1,712,651 $1,873,020 $1,831,989
Variable $1,575,063 $1,667,783 $1,831,072 $1,796,977
Fixed $43,903 $44,868 $41,948 $35,012
Contributions $0 $0 $0 $0
Withdrawals $78,005 $61,328 $61,917 $15,433
Net Cash Flow ($78,005) ($61,328) ($61,917) ($15,433)
Plan Participants
- Active with a Balance 0
- Terminated with a
Balance 135
- Other (explain) -
Active (non-contributing)
with a Balance
77
Total Participants 212
Total Non-Claims Active 201
Total Claims Active 11
Are any increases in participants anticipated?
Answer: No increase in RHS plan participation is anticipated.
Are any increases or decreases in annual contributions contemplated?
Answer: No change in RHS Plan contributions is anticipated.
Do you have a census of participants available?
Answer: This detail is not required in order to produce a proposal.