Loading...
HomeMy WebLinkAboutCombined emails1 From:Auslen, Kate Sent:Tuesday, August 18, 2026 7:56 AM To:Jackson, Emily; Malicoat, Debbie; Domini, Nickole; Fletcher, Amy Subject:Agenda for Fiduciary Committee Attachments:8.18.26 Agenda_FidCommEdu.docx Good morning, Here is the agenda for our meeting today. See you soon, Kate Auslen pronouns she/her/hers Risk and Benefits Manager Human Resources 994 Mill Street, San Luis Obispo, CA 93401-3249 E kauslen@slocity.org T 805.783.7864 slocity.org Stay connected with the City by signing up for e-notifications Shuster Advisory Group, a HUB International Company City of San Luis Obispo Deferred Compensation Plans Fiduciary Committee Education August 18, 2026, 10:00 AM Attendees (in alphabetical order): City of San Luis Obispo: Kate Auslen, Nickole Domini, Amy Fletcher, Emily Jackson, Debbie Malicoat Shuster Advisory Group: Michele Martin, JoAnn Parrino, Mark Shuster, Carl Steinhilber, Sarah Yauchzee 1. Meeting Open a. Roll Call 2. Fiduciary Education a. Presentation b. Fiduciary Guide 3. Record-keeper Negotiation Update a. Confirmed by MissionSquare: i. Clarification of security guarantee • The guarantee may not apply in situations where the participant's actions or omissions contributed to the unauthorized activity. Coverage would generally be excluded if a participant intentionally shares account information, passwords, or access credentials with another person or entity, as any resulting activity would be considered authorized by the participant. The guarantee also excludes fraudulent acts or omissions by the participant, unauthorized activity by an employer or plan sponsor representative with account access, and losses associated with accounts held at other financial institutions. ii. Pricing (2 basis points)* iii. QDRO fee to be waived* iv. Credit for integration ($5-6k) in lieu of fee holiday* v. Indemnification • MissionSquare shall indemnify and hold harmless the City from and against any claim, loss, or action arising out of the negligence or willful misconduct of MissionSquare or its employees, officers, or agents, including any confirmed data breach, omission, or act directly related to the services provided under the Agreement, except to the extent such incident, omission, or act was carried out at the City’s direction. vi. References to be provided for Oracle Fusion Cloud integration* vii. Sample service agreement and plan documents to be provided *Verbal commitment, waiting for email confirmation 4. Incumbent Termination Provisions a. Nationwide: Fixed Fund Shuster Advisory Group, a HUB International Company i. Market Value Adjustment (MVA) of ~8.18% as of April 2026 or Spread Pay: 6 annual payments over 5 years (benefit responsive) b. Nationwide: Galliard Stable Value Fund C i. 12-month Put expires 4/13/27 c. Empower: General Account (Hartford/Talcott) i. Spread pay: 6 annual payments over 5 years (non-benefit responsive) ii. 7 year Contingent Deferred Sales Charge (CDSC) reported as $0 5. Voting a. Record-keeper selection: i. 457(b)/401(a) plans ii. OBRA plan iii. RHS plan b. Committee Chair and Vice Chair 6. Open Discussion 7. Meeting Close 1 From:Auslen, Kate Sent:Tuesday, July 28, 2026 5:05 PM To:Mortensen, Eric; Felt, Chris; Koznek, Jeff; Joy, Cullen; Hoover, Nick; Malicoat, Debbie; Schafer, Aaron; Straley, Liz; Fletcher, Amy; Holcomb, Kelly; Szentesi, Whit; Domini, Nickole; Jackson, Emily Cc:Lokkart, Eric Subject:Demo Sites and Zoom Links Hello, I look forward to seeing you all tomorrow for Recordkeeper finalist presentations. I wanted to share the demonstration sites one more time (see email from 07/21/26 below) in case you’d like to visit them prior to our first presentation in the morning. If you’ll be joining virtually, please note that each presentation as well as the wrap up discussion have separate zoom links. You will need to leave each meeting and enter the next one at the appropriate time. Voya Deferred Compensation Presentation to SLO Committee 10:15 AM – 11:05 AM Shuster Advisory Group is inviting you to a scheduled Zoom meeting. Join Zoom Meeting Join instructions https://url.us.m.mimecastprotect.com/s/kifjC2kqR8Hz4Z1sBixf5k7Pp?domain=us02web.zoom.us MissionSquare Deferred Compensation Presentation to SLO Committee 11:15 AM – 12:05 PM Join Zoom Meeting Join instructions https://url.us.m.mimecastprotect.com/s/F043CJ6KZ8iE21LFzi9fy7fS5?domain=us02web.zoom.us Nationwide Deferred Compensation Presentation to SLO Committee 1:00 PM – 1:50 PM Shuster Advisory Group is inviting you to a scheduled Zoom meeting. Join Zoom Meeting One tap mobile 2 + Join instructions https://url.us.m.mimecastprotect.com/s/OGx9CERXlqi5zg4tpiyf72zfb?domain=us02web.zoom.us SLO Deferred Compensation Finalist Committee Discussion 2:00 PM – 2:50PM Shuster Advisory Group is inviting you to a scheduled Zoom meeting. Join Zoom Meeting Join instructions https://url.us.m.mimecastprotect.com/s/wpVXCW6KnPimQP3HKixfovXxX?domain=us02web.zoom.us Please reach out if you have questions. Best, Kate Auslen pronouns she/her/hers Risk and Benefits Manager Human Resources 994 Mill Street, San Luis Obispo, CA 93401-3249 E kauslen@slocity.org T 805.783.7864 slocity.org Stay connected with the City by signing up for e-notifications From: Auslen, Kate <kauslen@slocity.org> Sent: Tuesday, July 21, 2026 10:38 AM To: Mortensen, Eric <emortens@slocity.org>; Felt, Chris <cfelt@slocity.org>; Koznek, Jeff <jkoznek@slocity.org>; Joy, Cullen <cjoy@slocity.org>; Hoover, Nick <NHoover@slocity.org>; Malicoat, Debbie <dmalicoa@slocity.org>; Schafer, Aaron <ASchafer@slocity.org>; Straley, Liz <lstraley@slocity.org>; Fletcher, Amy <AFletche@slocity.org>; Holcomb, Kelly <kholcomb@slocity.org>; Szentesi, Whit <wszentes@slocity.org>; Domini, Nickole <ndomini@slocity.org>; Jackson, Emily <ejackson@slocity.org> Subject: Demo Sites for Recordkeeper Finalists Good afternoon, The three recordkeeper finalists have been invited to present to this group on July 29 th. They are Voya (#1 from 07/16 presentation), Mission Square (#2 from 07/16 presentation), and Nationwide (#3 from 07/16 presentation). Each 3 recordkeeper has provided a demonstration site that we can use to test out the online features as either participants or sponsors/administrators (HR/Finance). If you have time between now and July 29 th, please login and explore the features of the sites. This is a tool to help understand how the websites work, the resources available and how easy- to-use each is compared to the others. Think about the information you’d be looking for as a participant when logging in to check on your account, update your investment selections, etc. Voya Participant View (457/401 and HRA)  457/401 Participant Website - https://demos.voyacdn.com/tem/#/login-pweb (Click Enter – no password needed)  HRA (Retiree Medical) Participant Website - demos.voyacdn.com/tem/hra/hra.html Sponsor/Admin View (457/401)  Plan Sponsor Website - https://demos.voyacdn.com/sponsorwebdemoease/ Mission Square Participant View:  Sponsor/Admin View: TBD (troubleshooting PW) Nationwide Participant View (457/401)  Sponsor/Admin View (457/401)  Kate Auslen pronouns she/her/hers Risk and Benefits Manager Human Resources 994 Mill Street, San Luis Obispo, CA 93401-3249 E kauslen@slocity.org T 805.783.7864 slocity.org Stay connected with the City by signing up for e-notifications 1 From:Auslen, Kate Sent:Friday, June 5, 2026 12:17 PM To:JoAnn Parrino; Carl Steinhilber; Michele Martin; Sarah Yauchzee Subject:FW: City of San Luis Obispo RFP – Empower Questions Here is another set of questions. Kate Auslen pronouns she/her/hers Risk and Benefits Manager Human Resources 994 Mill Street, San Luis Obispo, CA 93401-3249 E kauslen@slocity.org T 805.783.7864 slocity.org Stay connected with the City by signing up for e-notifications From: Harland, Michael <Michael.Harland@empower.com> Sent: Friday, June 5, 2026 8:39 AM To: Auslen, Kate <kauslen@slocity.org> Cc: Whipple, Paul <paul.whipple@empower.com>; Harland, Michael <Michael.Harland@empower.com> Subject: City of San Luis Obispo RFP – Bidder Questions Hi Kate, Thank you for the opportunity to participate in the City of San Luis Obispo's retirement plan RFP process. We appreciate the opportunity to submit a proposal and respectfully request clarification on the following items to ensure we provide the most accurate and comprehensive response possible. 1. 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? 2. OBRA Plan Balances How many terminated participants in the OBRA plan have account balances under $7,000? 3. 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? 4. 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? 5. Brokerage Provider Which provider is currently being used for brokerage accounts? 2 6. 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? Thank you in advance for your assistance. We appreciate your time and look forward to your response. Bests, Michael Harland | Internal Sales Director, Tax-Exempt Core Empower 8515 E. Orchard Road | Greenwood Village, CO 80111 303-406-7027 direct | michael.harland@empower.com DO NOT TEXT. Please call or reply to this email. For important disclosures and product information, click here. empower.com The information contained in this message and any accompanying attachments may contain privileged, private and/or confidential information protected by state and federal law. Penalties may be assessed for unauthorized use and/or disclosure. This message and any attachments are intended for the designated recipient only. If you have received this information in error, please notify the sender immediately and return or destroy the information. This e-mail transmission and any attachments are believed to have been sent free of any virus or other defect that might affect any computer system into which it is received and opened. It is, however, the recipient's responsibility to ensure that the e-mail transmission and any attachments are virus free, and the sender accepts no responsibility for any damage that may in any way arise from their use. 1 From:Auslen, Kate Sent:Friday, June 5, 2026 3:10 PM To:Carl Steinhilber Subject:FW: HR02 - Notice Requesting Proposals / Qualified Plan Record-keeping and Administration Services Question from a different bidder. I think this is the same as we already asked Mission Square and are awaiting response? Kate Auslen pronouns she/her/hers Risk and Benefits Manager Human Resources 994 Mill Street, San Luis Obispo, CA 93401-3249 E kauslen@slocity.org T 805.783.7864 slocity.org Stay connected with the City by signing up for e-notifications From: Mravunac,S. (Stephanie) <Stephanie.Mravunac@voya.com> Sent: Friday, June 5, 2026 1:08 PM To: Auslen, Kate <kauslen@slocity.org> Cc: Glendon, S. (Susan) <Susan.Glendon@voya.com>; Camisa, J. (Justin) <Justin.Camisa@voya.com> Subject: RE: HR02 - Notice Requesting Proposals / Qualified Plan Record-keeping and Administration Services Hi Kate, We have one more question please: Regarding the RHS Plan, how many participants are in claims eligible status? Thank you again, Stephanie Mravunac Sr. RFP Specialist Voya Financial One Orange Way Windsor, CT 06095 C (913) 660-8712 stephanie.mravunac@voya.com voya.com 2 Pronouns: she | her | hers From: Auslen, Kate <kauslen@slocity.org> Sent: Friday, June 5, 2026 2:24 PM To: Mravunac,S. (Stephanie) <Stephanie.Mravunac@voya.com> Cc: Glendon, S. (Susan) <Susan.Glendon@voya.com>; Camisa, J. (Justin) <Justin.Camisa@voya.com> Subject: RE: HR02 - Notice Requesting Proposals / Qualified Plan Record-keeping and Administration Services Hello, Here are both attachments that need to be included with your proposal . Best regards, Kate Auslen pronouns she/her/hers Risk and Benefits Manager Human Resources 994 Mill Street, San Luis Obispo, CA 93401-3249 E kauslen@slocity.org T 805.783.7864 slocity.org Stay connected with the City by signing up for e-notifications From: Mravunac,S. (Stephanie) <Stephanie.Mravunac@voya.com> Sent: Friday, June 5, 2026 9:27 AM To: Auslen, Kate <kauslen@slocity.org> Cc: Glendon, S. (Susan) <Susan.Glendon@voya.com>; Camisa, J. (Justin) <Justin.Camisa@voya.com> Subject: HR02 - Notice Requesting Proposals / Qualified Plan Record-keeping and Administration Services Good afternoon Kate, Voya respectfully submits the following question for HR02 - Notice Requesting Proposals / Qualified Plan Record-keeping and Administration Services: Please provide the fillable Microsoft Excel version of the pricing request as referenced in L. Proposal Form: Pricing Request. Thank you, Stephanie Mravunac Sr. RFP Specialist 3 Voya Financial One Orange Way Windsor, CT 06095 C (913) 660-8712 stephanie.mravunac@voya.com voya.com Pronouns: she | her | hers --------------------------------------------------------- NOTICE: The information contained in this electronic mail message is confidential and intended only for certain recipients. If you are not an intended recipient, you are hereby notified that any disclosure, reproduction, distribution or other use of this communication and any attachments is strictly prohibited. If you have received this communication in error, please notify the sender by reply transmission and delete the message without copying or disclosing it. ========================================================================================= === --------------------------------------------------------- NOTICE: The information contained in this electronic mail message is confidential and intended only for certain recipients. If you are not an intended recipient, you are hereby notified that any disclosure, reproduction, distribution or other use of this communication and any attachments is strictly prohibited. If you have received this communication in error, please notify the sender by reply transmission and delete the message without copying or disclosing it. ========================================================================================= === 1 From:Auslen, Kate Sent:Tuesday, June 2, 2026 2:47 PM To:Clancy, Daniel Cc:Fletcher, Amy Subject:FW: RFP Open Attachments:Fixed Product Data.xlsx Hi Dan, Our consultant just requested that the attached spreadsheet be added to the Deferred Comp RFP so proponents can use it to respond (along with the fillable pricing request). Is that still possible? Kate Auslen pronouns she/her/hers Risk and Benefits Manager Human Resources 994 Mill Street, San Luis Obispo, CA 93401-3249 E kauslen@slocity.org T 805.783.7864 slocity.org Stay connected with the City by signing up for e-notifications From: Carl Steinhilber <CSteinhilber@sfgrpc.com> Sent: Tuesday, June 2, 2026 2:37 PM To: Auslen, Kate <kauslen@slocity.org>; JoAnn Parrino <jparrino@sfgrpc.com> Cc: Sarah Yauchzee <SYauchzee@sfgrpc.com>; Michele Martin <MMartin@sfgrpc.com>; Fletcher, Amy <AFletche@slocity.org> Subject: RE: RFP Open Hello Kate, In the Stable/Value Fixed Account section of the fillable pricing request, the attached Fixed Product Data spreadsheet is requested to be completed by the proponents. Please have this added to the bidnetdirect website to assist the proponents with their responses. Please contact JoAnn or I if you have any questions. Thank you. Carl Steinhilber, CFS Shuster Advisory Group, LLC Mobile 860-306-6321 | Office 626-737-8242 csteinhilber@sfgrpc.com | www.sfgrpc.com 155 N. Lake Ave, Suite 950 | Pasadena, CA 91101 2 Data As Of Date Company EXAMPLES Product Name Product Type General Account, Separate Account, Pooled Collective Trust, etc Total Assets (in $B) Avg Credit Quality Average/Effective Duration Current Standard Crediting Rate Participant Transfer Restrictions Participant Termination/Surrender Fees or Restrictions Plan Level Termination Provision 12-month Put, Spread Pay 6 over 5, Contractual MVA Formula, Actual Market Value to Book Value, etc. Contract Guar Min Int Rate Rate in column C, any explanation column B Prospective Standard Rate Reset Schedule Monthly, Quarterly, Semi-Annually, Annually, No prospective rate provided, etc. The Proposal Rate & Guarantee Period Corporate bonds/Credits Mortgage Related traditional GIC's Treasuries Cash & Cash Equivalents Asset Back Sec's Agencies Wrap Providers Municipals Other 0% AAA AA A BBB BB & Below 0% CREDITING RATE HISTORY 1-Yr Average 3-Yr Average 5-Yr Average 10-Yr Average Market / Book Ratio of Portfolio SECTOR ALLOCATION [this is a sample sector allocation, please use what is standard for your product discloser] CREDIT QUALITY 1 From:Auslen, Kate Sent:Thursday, June 4, 2026 2:38 PM To:JoAnn Parrino; Carl Steinhilber; Michele Martin; Sarah Yauchzee Cc:Fletcher, Amy Subject:FW: SLO RFP questions from Corebridge Financial Hi – We got our first set of questions! Please see below and send responses to me, then I will respond to the bidder. Thanks, Kate Auslen pronouns she/her/hers Risk and Benefits Manager Human Resources 994 Mill Street, San Luis Obispo, CA 93401-3249 E kauslen@slocity.org T 805.783.7864 slocity.org Stay connected with the City by signing up for e-notifications From: Gomez, Carolina <carolina.gomez@corebridgefinancial.com> Sent: Thursday, June 4, 2026 2:05 PM To: Auslen, Kate <kauslen@slocity.org> Cc: Goldstein, Donald <don.goldstein@corebridgefinancial.com> Subject: Corebridge Financial's Request for Clarification to the City of San Luis Obispo Notice Requesting Proposals / Qualified Plan Record-keeping and Administration Services Hello: Thank you for the opportunity to participate in the proposal process for City of San Luis Obispo's 457(b),401(a), 457 OBRA-PST, and HRA Plans. Corebridge Financial would like to submit the following questions for clarification: 1. Please provide the Proposal Form: Pricing Request excel document noted page 17. 2. 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?  Are any increases in participants anticipated?  Are any increases or decreases in annual contributions contemplated?  Do you have a census of participants available?  Please provide contributions and distributions for the last 2 years.  Please provide the number of active vs in-active participants. 2 Should you have any questions, please contact Don Goldstein, Vice President Business Development at (631) 553- 9523 or don.goldstein@corebridgefinancial.com. Will you please acknowledge receipt of this email? Thank you, Carolina Gomez Bid Analyst Business Case Development Corebridge Financial 2919 Allen Parkway, Woodson Tower - 8th Floor | Houston, Texas 77019 Tel +1 713 342 5337 Carolina.Gomez@corebridgefinancial.com | www.corebridgefinancial.com 1 From:Auslen, Kate Sent:Tuesday, August 4, 2026 8:16 AM To:Mortensen, Eric; Felt, Chris; Koznek, Jeff; Joy, Cullen; Hoover, Nick; Schafer, Aaron; Straley, Liz; Holcomb, Kelly; Szentesi, Whit; Lokkart, Eric Cc:Fletcher, Amy; Domini, Nickole; Jackson, Emily; Malicoat, Debbie Subject:More Deferred Comp Follow Up Attachments:Memo_to_SLO_Employee_Groups.pdf Good morning, I’d like to share a few more deferred compensation updates: 1) Nationwide’s Proposal a. We learned that Nationwide did submit a more complete proposal than was originally shared by Shuster Advisory in the 07/16/26 presentation. Something happened in their system transition that did not allow the full submission to go through. The presentation has been revised to include the additional information from Nationwide. This did not change the overall score assigned to Nationwide. 2) Memo from Shuster a. During the wrap up discussion on 07/29/26, a request was made for Shuster to provide a memo with a project overview and anticipated benefits of consolidation. That memo is attached and may be shared with members of your employee groups. I suggest also reminding members in the body of your email where to find the FAQ’s and project updates on the HR sharepoint page. 3) Most of the recordkeeper responses to the follow-up questions from the 07/29/26 presentations have been received, and you can view them here. Mission Square will be sending additional information later today. If you already voted, and this information changes your ranking, please let me and Amy know ASAP (current input deadline is 08/07/26). I hope this information is helpful. Best regards, Kate Auslen pronouns she/her/hers Risk and Benefits Manager Human Resources 994 Mill Street, San Luis Obispo, CA 93401-3249 E kauslen@slocity.org T 805.783.7864 slocity.org Stay connected with the City by signing up for e-notifications MEMORANDUM TO: City of San Luis Obispo Advisory Committee Members FROM: Shuster Advisory Group, a HUB International Company DATE: August 3, 2026 RE: Deferred Compensation Consolidation Project — For Distribution to Employee Groups The City of San Luis Obispo is running a Request for Proposal (RFP) process, led by our firm, to select a single record-keeper (provider) for the City's 457(b) and 401(a) retirement plans. This memo summarizes the process and the expected benefits to employees. Please feel free to share it directly with members of your employee groups. Background Today the City's retirement plans are split across four providers (Empower, Mission Square, Nationwide, PARS/John Hancock). Assets spread across providers lose economies of scale, which has resulted in higher plan fees and investment costs. In addition, each current provider selects and maintains its own investment menu, and none of them serve in a fiduciary capacity to the City's plans to ensure they are working toward your best interest. The Process Our firm is guiding the City through a competitive RFP process. We developed the RFP request working within the city’s procurement rules (open bid), soliciting proposals from providers (including current incumbents), evaluating them on cost, platform, guaranteed interest rates, and onsite and virtual participant services. Five providers responded to the RFP. The City formed an advisory committee made up of City staff and labor group representatives to be part of the RFP review and finalist selection process. Our firm presented the bids to the advisory committee on a blind basis, meaning the names of the record-keepers were not disclosed to ensure fairness and avoid any perceived bias. Three finalists were selected by the committee based on the quality of their responses. The names of the three finalists were not disclosed until after the decisions were made; they are MissionSquare, Nationwide and Voya. The City, by law, is the Plan Fiduciary, and therefore is tasked with making the final decision. Once the decision is made, you will be notified, and a formal transition process will begin. Our firm stays hands-on throughout the transition and beyond, supplementing and enhancing the process alongside the record-keeper and the City. We have guided similar transitions for 92 cities and towns and 15 other public agencies. Expected Benefits to Participants Lower fees — Consolidating with one record-keeper gives the City more buying power and negotiating leverage, which will reduce plan costs, meaning more of your money stays in your account rather than in record-keeper pockets. Record-keeping costs are expected to be reduced by 90-93%! A stronger investment menu — A single, well-built lineup replaces four separate and sometimes overlapping menus. Our firm, as your fiduciary investment advisor, will monitor and manage the menu, following a prudent process and operating from a best interest perspective. Standardized service — Every participant will have the same fees, website, app, statements, and services. What You Should Know No action is needed from you. The transition is expected to occur during the first quarter of 2027. Your contributions and balances are fully protected throughout the process. Additional communications and education will be provided prior to any changes made. For more detailed information, please refer to the FAQ on the City’s Human Resources Benefits Sharepoint page. 1 From:Auslen, Kate Sent:Friday, June 5, 2026 12:16 PM To:Harland, Michael Cc:Whipple, Paul Subject:RE: City of San Luis Obispo RFP – Bidder Questions Hello, I received your questions and will respond as soon as possible. Best regards, Kate Auslen pronouns she/her/hers Risk and Benefits Manager Human Resources 994 Mill Street, San Luis Obispo, CA 93401-3249 E kauslen@slocity.org T 805.783.7864 slocity.org Stay connected with the City by signing up for e-notifications From: Harland, Michael <Michael.Harland@empower.com> Sent: Friday, June 5, 2026 8:39 AM To: Auslen, Kate <kauslen@slocity.org> Cc: Whipple, Paul <paul.whipple@empower.com>; Harland, Michael <Michael.Harland@empower.com> Subject: City of San Luis Obispo RFP – Bidder Questions Hi Kate, Thank you for the opportunity to participate in the City of San Luis Obispo's retirement plan RFP process. We appreciate the opportunity to submit a proposal and respectfully request clarification on the following items to ensure we provide the most accurate and comprehensive response possible. 1. 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? 2. OBRA Plan Balances How many terminated participants in the OBRA plan have account balances under $7,000? 3. 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? 2 4. 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? 5. Brokerage Provider Which provider is currently being used for brokerage accounts? 6. 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? Thank you in advance for your assistance. We appreciate your time and look forward to your response. Bests, Michael Harland | Internal Sales Director, Tax-Exempt Core Empower 8515 E. Orchard Road | Greenwood Village, CO 80111 303-406-7027 direct | michael.harland@empower.com DO NOT TEXT. Please call or reply to this email. For important disclosures and product information, click here. empower.com The information contained in this message and any accompanying attachments may contain privileged, private and/or confidential information protected by state and federal law. Penalties may be assessed for unauthorized use and/or disclosure. This message and any attachments are intended for the designated recipient only. If you have received this information in error, please notify the sender immediately and return or destroy the information. This e-mail transmission and any attachments are believed to have been sent free of any virus or other defect that might affect any computer system into which it is received and opened. It is, however, the recipient's responsibility to ensure that the e-mail transmission and any attachments are virus free, and the sender accepts no responsibility for any damage that may in any way arise from their use. 1 From:Auslen, Kate Sent:Wednesday, June 10, 2026 8:35 AM To:Harland, Michael Cc:Whipple, Paul Subject:RE: City of San Luis Obispo RFP – Bidder Questions Attachments:Pricing Request - Fillable.xlsx; Fixed Product Data.xlsx Good morning, Below are the answers to your questions. Answers to questions submitted by other potential bidders will also be posted on Bid Net today. 1. 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. However, this specific data is not currently available. 2. 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 3. 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 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 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 - Terminated with a Balance 135 - Other (explain) - Active (non-contributing) with a Balance 2 Total Participants 212 Total Non-Claims Active 201 Total Claims Active 4. 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. 5. Brokerage Provider Which provider is currently being used for brokerage accounts? Answer: Self-Directed Brokerage Accounts are currently not available in the plans. 6. 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, as well as attached. Best regards, Kate Auslen pronouns she/her/hers Risk and Benefits Manager Human Resources 994 Mill Street, San Luis Obispo, CA 93401-3249 E kauslen@slocity.org T 805.783.7864 slocity.org Stay connected with the City by signing up for e-notifications From: Harland, Michael <Michael.Harland@empower.com> Sent: Friday, June 5, 2026 8:39 AM To: Auslen, Kate <kauslen@slocity.org> Cc: Whipple, Paul <paul.whipple@empower.com>; Harland, Michael <Michael.Harland@empower.com> Subject: City of San Luis Obispo RFP – Bidder Questions Hi Kate, 3 Thank you for the opportunity to participate in the City of San Luis Obispo's retirement plan RFP process. We appreciate the opportunity to submit a proposal and respectfully request clarification on the following items to ensure we provide the most accurate and comprehensive response possible. 1. 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? 2. OBRA Plan Balances How many terminated participants in the OBRA plan have account balances under $7,000? 3. 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? 4. 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? 5. Brokerage Provider Which provider is currently being used for brokerage accounts? 6. 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? Thank you in advance for your assistance. We appreciate your time and look forward to your response. Bests, Michael Harland | Internal Sales Director, Tax-Exempt Core Empower 8515 E. Orchard Road | Greenwood Village, CO 80111 303-406-7027 direct | michael.harland@empower.com DO NOT TEXT. Please call or reply to this email. For important disclosures and product information, click here. empower.com The information contained in this message and any accompanying attachments may contain privileged, private and/or confidential information protected by state and federal law. Penalties may be assessed for unauthorized use and/or disclosure. This message and any attachments are intended for the designated recipient only. If you have received this information in error, please notify the sender immediately and return or destroy the information. This e-mail transmission and any attachments are believed to have been sent free of any virus or other defect that might affect any computer system into which it is received and opened. It is, however, the recipient's responsibility to ensure that the e-mail transmission and any attachments are virus free, and the sender accepts no responsibility for any damage that may in any way arise from their use. Proposal Due Date Target Conversion Date Record-Keeper #1 - 457(b) 2024 2025 YTD 3/31/2026 Assets $31,876,810 $35,495,066 $34,257,941 Variable $26,679,785 $30,145,102 $29,148,154 Fixed $5,197,024 $5,349,963 $5,109,787 Stable Value/Fixed Notes: Contributions $836,213 $1,163,929 $250,522 Withdrawals $2,898,800 $1,960,424 $718,871 Net Cash Flow -$2,062,587 -$796,495 -$468,349 Participants - Contributing 114 Participants - w/ Bal (non-Contribute)171 Participants - Total 285 Loans #7 Loans $$136,323 Loans Repayments Payroll Deduct Managed Accounts # of Parts 41 Managed Accounts $$6,119,893 SDBO N/A Roth 457 Available & Assets in Plan Yes Record-Keeper #2 - 457(b) 2024 2025 YTD 3/31/2026 Assets $10,426,241 $11,990,660 $11,769,421 Variable $9,648,015 $11,194,750 $10,968,117 Fixed $778,226 $795,910 $801,304 Stable Value/Fixed Notes: Contributions $702,116 $843,514 $191,436 Withdrawals $1,642,413 $838,614 $48,550 Net Cash Flow -$940,297 $4,900 $142,886 Participants - Contributing 89 Participants - w/ Bal (non-Contribute)45 Participants - Total 134 Loans #8 Loans $$134,829 Loans Repayments ACH Managed Accounts # of Parts 30 Managed Accounts $$2,478,003 SDBO N/A Roth 457 Available & Assets in Plan Yes Record-Keeper #3 - 457(b) 2024 2025 YTD 3/31/2026 Assets $5,071,025 $5,485,220 $4,377,447 Variable $3,295,317 $3,572,420 $2,932,508 Fixed $1,775,708 $1,912,800 $1,444,939 Stable Value/Fixed Notes: Contributions $131,137 $176,874 $42,691 PROPOSAL FORM: PRICING REQUEST Fixed Account subject to 5-year spread pay or MVA at termination - MVA -8.18% as of 3/31/2026 Entire Account including Fixed Account subject to CDSC - reported as $0 as of 3/31/2026. Fixed Account subject to 6 payments over 5 years at termination - no MVA option. There are currently 15 participants contributing San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Stable Value subject to 12-month Put - effective 4/13/2026 Plan Statistics and Information Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Withdrawals $176,577 $324,402 $981,635 Net Cash Flow -$45,440 -$147,528 -$938,944 Participants - Contributing 15 Participants - w/ Bal (non-Contribute)25 Participants - Total 40 Loans #0 Loans $$0 Loans Repayments N/A Managed Accounts # of Parts 4 Managed Accounts $$301,277 SDBO N/A Roth 457 Available & Assets in Plan No Total Record-Keepers - 457(b) 2024 2025 YTD 3/31/2026 Assets $47,374,075 $52,970,945 $50,404,809 Variable $39,623,117 $44,912,273 $43,048,779 Fixed $7,750,958 $8,058,673 $7,356,030 Stable Value/Fixed Notes: Contributions $1,669,466 $2,184,317 $484,649 Withdrawals $4,717,790 $3,123,440 $1,749,056 Net Cash Flow -$3,048,324 -$939,123 -$1,264,407 Participants - Contributing 218 Participants - w/ Bal (non-Contribute)241 Participants - Total 459 Loans #15 Loans $$271,152 Loans Repayments ACH/Payroll Deduct Managed Accounts # of Parts 75 Managed Accounts $$8,899,173 SDBO N/A Roth 457 Available & Assets in Plan Yes Record-Keeper #1 - 401(a) 2024 2025 YTD 3/31/2026 Assets $249,179 $351,559 $252,177 Variable $230,346 $319,247 $200,608 Fixed $18,833 $32,312 $51,569 Stable Value/Fixed Notes: Contributions $24,779 $24,184 $5,670 Withdrawals $0 $0 $104,925 Net Cash Flow $24,779 $24,184 -$99,255 Participants - Contributing 2 Participants - w/ Bal (non-Contribute)0 Participants - Total 2 Loans #N/A Loans $N/A Loans Repayments N/A Managed Accounts # of Parts 1 Managed Accounts $$236,858 SDBO N/A Record-Keeper #4 - 401(a) Fiscal 23-24 Fiscal 24-25 Fiscal 25-26 YTD Assets $2,457,348 $2,721,778 $2,968,705 see notes above Stable Value subject to 12-month Put - effective 4/13/2026 Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Variable $2,457,348 $2,721,778 $2,968,705 Fixed $0 $0 $0 Stable Value/Fixed Notes: Contributions $124,527 $102,093 $82,606 Withdrawals $963,247 $127,685 $14,925 Net Cash Flow -$838,720 -$25,591 $67,681 Participants - Contributing 28 Participants - w/ Bal (non-Contribute)70 Participants - Total 98 Loans #0 Loans $$0 Loans Repayments ACH/Payroll Deduct Managed Accounts # of Parts 0 Managed Accounts $$0 SDBO N/A Total Record-Keepers - 401(a) 2024 2025 YTD 3/31/2026 Assets $2,706,527 $3,073,338 $3,220,882 Variable $2,687,694 $3,041,026 $3,169,313 Fixed $18,833 $32,312 $51,569 Stable Value/Fixed Notes: Contributions $149,307 $126,278 $88,276 Withdrawals $963,247 $127,685 $119,850 Net Cash Flow -$813,940 -$1,407 -$31,574 Participants - Contributing 30 Participants - w/ Bal (non-Contribute)70 Participants - Total 100 Loans #N/A Loans $N/A Loans Repayments N/A Managed Accounts # of Parts 1 Managed Accounts $$236,858 SDBO N/A Record-Keeper #1 - RHS/HRA Plan 2024 2025 YTD 3/31/2026 Assets $1,712,651 $1,873,020 $1,831,928 Variable $1,667,841 $1,831,132 $1,796,977 Fixed $44,810 $41,888 $34,951 Stable Value/Fixed Notes: Contributions - none $0 $0 $0 Withdrawals - none $0 $0 $0 Net Cash Flow $0 $0 $0 Participants - Non-Claims Active 77 Participants - Claims Active 135 Participants - Total 212 Stable Value subject to 12-month Put - effective 4/13/2026 Money Market Fund is utilized for this plan see notes above Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Record-Keep #2-457(b) PT-OBRA Plan 2024 2025 YTD 3/31/2026 Assets ALL FIXED $1,380,084 $1,519,891 $1,549,982 Variable $0 $0 $0 Fixed $1,380,084 $1,519,891 $1,549,982 Stable Value/Fixed Notes: Contributions $134,282 $164,383 $36,858 Withdrawals $38,783 $60,027 $12,967 Net Cash Flow $95,499 $104,356 $23,891 Participants - Contributing 242 Participants - w/ Bal (non-Contribute)2229 Participants - Total 2471 Platform request Quote Format Request Advisor Fee Assumption Investment Menu Request Contract Term Important Notes to be Reviewed Before Completing Pricing Proposals Fixed Account Subject to 5-year spread pay or MVA at termination - MVA -4.01% as of 3/31/2026 Please provide pricing in a complete proposal with services included in price clearly identified, as well as disclosure of any and all other services/transactions with additional ER or EE fees clearly identified. Quote without advisor fee. Please do not provide any suggested line-ups other than the options requested below for the stable value/fixed. If a fund in the menu generates institutional revenue to your company there should be no change in the plan asset charge if the client makes a fund change in the future. It is required that there is no determined contract/agreement period with the record keeper. All contracts/agreements must be open-ended with the ability of the City to terminate the contract/agreement. 1. The pricing/fee and credited rates (products) are to be the same for both the 457(b) and 401(a) Plans. 2. It is strongly encouraged to provide a solution for the HRA/RHS and 457 PT-OBRA plans. If you are providing a proposal, the product, fees and credited rates can be different from what is provided for the 457(b) & 401(a) Plans. Please include an affirmative statement as to whether you are providing a proposal for the HRA/RHS and PT-OBRA plans as part of your response. 3. For all Asset charges WITH your managed account solution, assume voluntary participant usage only. There can be no default or QDIA for managed accounts. 4. Current Credited Rates provided must be net of management fees and any record keeping revenue retained by you, and gross of your Asset Charge. 5. A Fixed Product Data sheet is included with this RFP to be provided for any stable value/fixed product proposed. If it is not provided or not complete in our opinion, your proposal may not be considered. 6. Note that Target Date conversions are not an acceptable proposal. Pricing Request Bundled only - Open Architecture Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Explicit Fee on all Assets Record Keeping Revenue Generated Current Net Crediting Rate Guarantee Period for Rate Name of stable Value/Fixed Name of stable Value/Fixed Name of stable Value/Fixed Description of MVA Buy-Out product and any other notes you wish to provide Explicit Fee on all Assets Record Keeping Revenue Generated Current Net Crediting Rate Guarantee Period for Rate Name of stable Value/Fixed Name of stable Value/Fixed Name of stable Value/Fixed Please provide the Explicit Fee on all assets required for an open architecture platform assuming the use of your proprietary stable value or fixed/general account (if applicable). You may provide as many proprietary solutions as you choose. Note: - Record-Keeper #1 for both the 457(b), 401(a) and RHS plans requires a 12-month put on the stable value assets that was initiated 4/13/2026. - It is required as part of your proposal that the MVA for 457(b) Record-Keeper #2 be bought out as part of your proposal. Provide a complete and detailed description of each proposal including how the product is structured (type of investment product) and any required contract period and/or "recovery period "schedule, etc. below. - Note that the Fixed Account for 457(b) Record Keeper #3 will be paid out in 6 installments over 5 years. 457(b) & 401(a) Pricing Request #1: Proprietary Stable Value/Fixed PLEASE DESCRIBE SOLUTION PROVIDED 457(b) & 401(a) Pricing Request #2: Non-proprietary Stable Value/Fixed PLEASE DESCRIBE SOLUTION PROVIDED Please provide the Explicit Fee on all assets required for an open architecture platform assuming the use of non- proprietary stable value or fixed/general account (if applicable). You may provide as many non-proprietary solutions as you choose. Note: - Record-Keeper #1 for both the 457(b), 401(a) and RHS plans requires a 12-month put on the stable value assets that was initiated 4/13/2026. - It is required as part of your proposal that the MVA for 457(b) Record-Keeper #2 be bought out as part of your proposal. Provide a complete and detailed description of each proposal including how the product is structured (type of investment product) and any required contract period and/or "recovery period "schedule, etc. below. - Note that the Fixed Account for 457(b) Record Keeper #3 will be paid out in 6 installments over 5 years. Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Description of MVA Buy-Out product and any other notes you wish to provide Explicit Fee on all Assets Record Keeping Revenue Generated Current Net Crediting Rate Guarantee Period for Rate Name of stable Value/Fixed Name of stable Value/Fixed Name of stable Value/Fixed Description of product and any other notes you wish to provide Explicit Fee on all Assets Record Keeping Revenue Generated Current Net Crediting Rate Guarantee Period for Rate Name of stable Value/Fixed Name of stable Value/Fixed Name of stable Value/Fixed It is strongly encouraged to provide a solution for the HRA/RHS plan. If you are providing a proposal, the product, fees and credited rates can be different from what is provided for the 457(b) & 401(a) Plans. Please include an affirmative statement as to whether you are providing a proposal for the HRA/RHS Plan as part of your response. Please provide the Explicit Fee on all assets required for an open architecture platform assuming the use of your proprietary stable value or fixed/general account (if applicable) and any non-proprietary option you wish to provide. You may provide as many solutions as you choose. Note: - Record-Keeper #1 requires a 12-month put on the stable value assets that was initiated 4/13/2026. HRA/RHS Plan Proposal #3HRA: Please provide description, of proposal 457 OBRA/Part-Time Plan Proposal #4PTS: Please provide description, of proposal It is strongly encouraged to provide a solution for the 457 OBRA-PST plan. If you are providing a proposal, the product, fees and credited rates can be different from what is provided for the 457(b) & 401(a) Plans. Please include an affirmative statement as to whether you are providing a proposal for the 457 OBRA-PST Plan as part of your response. Please provide the Explicit Fee on all assets required for an open architecture platform assuming the use of your proprietary stable value or fixed/general account (if applicable) and any non-proprietary option you wish to provide. You may provide as many solutions as you choose. Note: - It is required as part of your proposal that the MVA for 457(b) Record-Keeper #2 be bought out as part of your proposal. Provide a complete and detailed description of each proposal including how the product is structured (type of investment product) and any required contract period and/or "recovery period "schedule, etc. below. Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Description of product and any other notes you wish to provide Stable Value / Fixed Account Guaranteed Interest Please provide the following for each proprietary stable value/fixed option proposed: 1. Current proposed gross interest rate 2. Fund management fees 3. Revenue sharing 4. Net credited rate after ALL fees and revenue sharing 5. Guaranteed Minimum Interest Rates 6. Full disclosure of ALL participant and plan sponsor transfer and termination provisions clearly identified, including the specific definition of a "competing fund" if applicable. ATTACHED IS A SPREADSHEET "FIXED PRODUCT DATA" - PLEASE COMPLETE FOR ALL PRODUCTS PROPOSED. Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Please note for the following to use $0 Fee if the service is included in the Asset Charge proposed Transactional Fees Fee Sep from Svc Withdrawals $0 Hardship/Unforeseeable Emergency Withdrawals $0 In-Service Withdrawals $0 Periodic Distributions: Set up $0 Annual $0 RMD Distributions $0 Are RMDs automatically generated? Yes/No Are sponsors notified when dist? Yes/No Loans: Initiation $0 Annual $0 QDRO Determination $0 Plan Termination Fees $0 Termination Test File Charge $0 Other Fees Expedited Checks $0 ACH/Wire $0 Stop Pay / Reissue and Special Handling $0 Plan Document Fees Initial Restatement 0 Plan Doc Regulatory Amendment $0 Plan Doc Non-Regulatory Amendment $0 Education and Enrollment at Conversion $0 Additional Education Days/Ongoing $0 Call Center Days and Hours Call Center Multi-Lingual Capabilities Participant Advisory Services Managed Accounts/Personal Advice Fee Schedule 0.00% 0.00% 0.00% 0.00% On-Line Advise $0 participant experience in detail 800# Advise $0 participant experience in detail In Person Individual Advise $0 One-Time Financial Planning $0 Comprehensive Financial Planning $0 Technical Capabilities Participant Educ. at Conversion and Ongoing Web? On-Site? Explanation / Description / Details of Service Provided if Needed Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Is the participant website mobile device capable?Yes/No Do you provide a mobile app to parts? Yes/No Can ALL functions available on the website be completed on the app? If not, provide what is available. Yes/No Is your participant website available in langauges other than English?Yes/No Is your mobile app available in languages other than English?Yes/No Sep from Svc Withdrawals $0 Hardship Withdrawal Determ/Approval $0 In-Service Withdrawals $0 Loan Detemination/Approval $0 QDRO Qualifying Services $0 Delivery of enrollment materials $0 Plan Sponsor Services - Please detail mailing fees if applicable Data As Of Date Company EXAMPLES Product Name Product Type General Account, Separate Account, Pooled Collective Trust, etc Total Assets (in $B) Avg Credit Quality Average/Effective Duration Current Standard Crediting Rate Participant Transfer Restrictions Participant Termination/Surrender Fees or Restrictions Plan Level Termination Provision 12-month Put, Spread Pay 6 over 5, Contractual MVA Formula, Actual Market Value to Book Value, etc. Contract Guar Min Int Rate Rate in column C, any explanation column B Prospective Standard Rate Reset Schedule Monthly, Quarterly, Semi-Annually, Annually, No prospective rate provided, etc. The Proposal Rate & Guarantee Period Corporate bonds/Credits Mortgage Related traditional GIC's Treasuries Cash & Cash Equivalents Asset Back Sec's Agencies Wrap Providers Municipals Other 0% AAA AA A BBB BB & Below 0% CREDITING RATE HISTORY 1-Yr Average 3-Yr Average 5-Yr Average 10-Yr Average Market / Book Ratio of Portfolio SECTOR ALLOCATION [this is a sample sector allocation, please use what is standard for your product discloser] CREDIT QUALITY 1 From:Auslen, Kate Sent:Wednesday, June 10, 2026 8:09 AM To:Carl Steinhilber; JoAnn Parrino; Michele Martin; Sarah Yauchzee Subject:RE: City of San Luis Obispo RFP – Question Responses Ok thank you. Kate Auslen pronouns she/her/hers Risk and Benefits Manager Human Resources 994 Mill Street, San Luis Obispo, CA 93401-3249 E kauslen@slocity.org T 805.783.7864 slocity.org Stay connected with the City by signing up for e-notifications From: Carl Steinhilber <CSteinhilber@sfgrpc.com> Sent: Tuesday, June 9, 2026 2:22 PM To: Auslen, Kate <kauslen@slocity.org>; JoAnn Parrino <jparrino@sfgrpc.com>; Michele Martin <MMartin@sfgrpc.com>; Sarah Yauchzee <SYauchzee@sfgrpc.com> Subject: City of San Luis Obispo RFP – Question Responses Hello Kate, Below are answers to the questions we have received. We have broken them up based on the record-keeper who submitted the questions for your benefit, but of course many of them overlap and the Questions and Answers can be condensed and posted to BidNet if that is process you are using. Also, there are two questions for which we have provided an answer based on our understanding, but the city will need to confirm - see comments in GREEN below. Voya 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 2 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 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 - Terminated with a Balance 135 - Other (explain) - Active (non-contributing) with a Balance Total Participants 212 Total Non-Claims Active 201 Total Claims Active Empower 1. 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. 2. 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 3. 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 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 Withdrawals $78,005 $61,328 $61,917 $15,433 Net Cash Flow ($78,005) ($61,328) ($61,917) ($15,433) 3 Plan Participants - Active with a Balance - Terminated with a Balance 135 - Other (explain) - Active (non-contributing) with a Balance Total Participants 212 Total Non-Claims Active 201 Total Claims Active 4. 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. 5. Brokerage Provider Which provider is currently being used for brokerage accounts? Answer: Self-Directed Brokerage Accounts are currently not available in the plans. 6. 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. Corebridge 1. Please provide the Proposal Form: Pricing Request excel document noted page 17. Answer: The Pricing Request Document is available on the BidNet website. 2. 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 4 Fixed $43,903 $44,868 $41,948 $35,012 Contributions $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 - Terminated with a Balance 135 - Other (explain) - Active (non-contributing) with a Balance Total Participants 212 Total Non-Claims Active 201 Total Claims Active  Are any increases in participants anticipated? Answer: An increase in participation in the RHS Plan is not anticipated in the near term - CITY TO CONFIRM ANSWER  Are any increases or decreases in annual contributions contemplated? Answer: An increase in participation in the RHS Plan is not anticipated in the near term - CITY TO CONFIRM ANSWER Do you have a census of participants available? Answer: This detail is not required for a response Please let us know if you have any additional questions or comments. Thank you. Carl Steinhilber, CFS Shuster Advisory Group, LLC Mobile 860-306-6321 | Office 626-737-8242 csteinhilber@sfgrpc.com | www.sfgrpc.com 155 N. Lake Ave, Suite 950 | Pasadena, CA 91101 1 From:Auslen, Kate Sent:Thursday, June 4, 2026 2:39 PM To:Gomez, Carolina Cc:Goldstein, Donald Subject:RE: Corebridge Financial's Request for Clarification to the City of San Luis Obispo Notice Requesting Proposals / Qualified Plan Record-keeping and Administration Services Hello, I received your questions and will respond as soon as possible. Best regards, Kate Auslen pronouns she/her/hers Risk and Benefits Manager Human Resources 994 Mill Street, San Luis Obispo, CA 93401-3249 E kauslen@slocity.org T 805.783.7864 slocity.org Stay connected with the City by signing up for e-notifications From: Gomez, Carolina <carolina.gomez@corebridgefinancial.com> Sent: Thursday, June 4, 2026 2:05 PM To: Auslen, Kate <kauslen@slocity.org> Cc: Goldstein, Donald <don.goldstein@corebridgefinancial.com> Subject: Corebridge Financial's Request for Clarification to the City of San Luis Obispo Notice Requesting Proposals / Qualified Plan Record-keeping and Administration Services Hello: Thank you for the opportunity to participate in the proposal process for City of San Luis Obispo's 457(b),401(a), 457 OBRA-PST, and HRA Plans. Corebridge Financial would like to submit the following questions for clarification: 1. Please provide the Proposal Form: Pricing Request excel document noted page 17. 2. 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?  Are any increases in participants anticipated?  Are any increases or decreases in annual contributions contemplated?  Do you have a census of participants available?  Please provide contributions and distributions for the last 2 years.  Please provide the number of active vs in-active participants. 2 Should you have any questions, please contact Don Goldstein, Vice President Business Development at (631) 553- 9523 or don.goldstein@corebridgefinancial.com. Will you please acknowledge receipt of this email? Thank you, Carolina Gomez Bid Analyst Business Case Development Corebridge Financial 2919 Allen Parkway, Woodson Tower - 8th Floor | Houston, Texas 77019 Tel +1 713 342 5337 Carolina.Gomez@corebridgefinancial.com | www.corebridgefinancial.com 1 From:Auslen, Kate Sent:Wednesday, June 10, 2026 8:37 AM To:Gomez, Carolina Cc:Goldstein, Donald Subject:RE: Corebridge Financial's Request for Clarification to the City of San Luis Obispo Notice Requesting Proposals / Qualified Plan Record-keeping and Administration Services Attachments:Pricing Request - Fillable.xlsx; Fixed Product Data.xlsx Good morning, Below are the answers to your questions. Answers to questions submitted by other potential bidders will also be posted on Bid Net today. Please provide the Proposal Form: Pricing Request excel document noted page 17. Answer: The Pricing Request Document is available on the BidNet website, as well as attached. 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 2 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. Best regards, Kate Auslen pronouns she/her/hers Risk and Benefits Manager Human Resources 994 Mill Street, San Luis Obispo, CA 93401-3249 E kauslen@slocity.org T 805.783.7864 slocity.org Stay connected with the City by signing up for e-notifications From: Gomez, Carolina <carolina.gomez@corebridgefinancial.com> Sent: Thursday, June 4, 2026 2:05 PM To: Auslen, Kate <kauslen@slocity.org> Cc: Goldstein, Donald <don.goldstein@corebridgefinancial.com> Subject: Corebridge Financial's Request for Clarification to the City of San Luis Obispo Notice Requesting Proposals / Qualified Plan Record-keeping and Administration Services Hello: Thank you for the opportunity to participate in the proposal process for City of San Luis Obispo's 457(b),401(a), 457 OBRA-PST, and HRA Plans. Corebridge Financial would like to submit the following questions for clarification: 1. Please provide the Proposal Form: Pricing Request excel document noted page 17. 2. 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?  Are any increases in participants anticipated?  Are any increases or decreases in annual contributions contemplated?  Do you have a census of participants available?  Please provide contributions and distributions for the last 2 years.  Please provide the number of active vs in-active participants. Should you have any questions, please contact Don Goldstein, Vice President Business Development at (631) 553- 9523 or don.goldstein@corebridgefinancial.com. Will you please acknowledge receipt of this email? 3 Thank you, Carolina Gomez Bid Analyst Business Case Development Corebridge Financial 2919 Allen Parkway, Woodson Tower - 8th Floor | Houston, Texas 77019 Tel +1 713 342 5337 Carolina.Gomez@corebridgefinancial.com | www.corebridgefinancial.com Proposal Due Date Target Conversion Date Record-Keeper #1 - 457(b) 2024 2025 YTD 3/31/2026 Assets $31,876,810 $35,495,066 $34,257,941 Variable $26,679,785 $30,145,102 $29,148,154 Fixed $5,197,024 $5,349,963 $5,109,787 Stable Value/Fixed Notes: Contributions $836,213 $1,163,929 $250,522 Withdrawals $2,898,800 $1,960,424 $718,871 Net Cash Flow -$2,062,587 -$796,495 -$468,349 Participants - Contributing 114 Participants - w/ Bal (non-Contribute)171 Participants - Total 285 Loans #7 Loans $$136,323 Loans Repayments Payroll Deduct Managed Accounts # of Parts 41 Managed Accounts $$6,119,893 SDBO N/A Roth 457 Available & Assets in Plan Yes Record-Keeper #2 - 457(b) 2024 2025 YTD 3/31/2026 Assets $10,426,241 $11,990,660 $11,769,421 Variable $9,648,015 $11,194,750 $10,968,117 Fixed $778,226 $795,910 $801,304 Stable Value/Fixed Notes: Contributions $702,116 $843,514 $191,436 Withdrawals $1,642,413 $838,614 $48,550 Net Cash Flow -$940,297 $4,900 $142,886 Participants - Contributing 89 Participants - w/ Bal (non-Contribute)45 Participants - Total 134 Loans #8 Loans $$134,829 Loans Repayments ACH Managed Accounts # of Parts 30 Managed Accounts $$2,478,003 SDBO N/A Roth 457 Available & Assets in Plan Yes Record-Keeper #3 - 457(b) 2024 2025 YTD 3/31/2026 Assets $5,071,025 $5,485,220 $4,377,447 Variable $3,295,317 $3,572,420 $2,932,508 Fixed $1,775,708 $1,912,800 $1,444,939 Stable Value/Fixed Notes: Contributions $131,137 $176,874 $42,691 PROPOSAL FORM: PRICING REQUEST Fixed Account subject to 5-year spread pay or MVA at termination - MVA -8.18% as of 3/31/2026 Entire Account including Fixed Account subject to CDSC - reported as $0 as of 3/31/2026. Fixed Account subject to 6 payments over 5 years at termination - no MVA option. There are currently 15 participants contributing San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Stable Value subject to 12-month Put - effective 4/13/2026 Plan Statistics and Information Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Withdrawals $176,577 $324,402 $981,635 Net Cash Flow -$45,440 -$147,528 -$938,944 Participants - Contributing 15 Participants - w/ Bal (non-Contribute)25 Participants - Total 40 Loans #0 Loans $$0 Loans Repayments N/A Managed Accounts # of Parts 4 Managed Accounts $$301,277 SDBO N/A Roth 457 Available & Assets in Plan No Total Record-Keepers - 457(b) 2024 2025 YTD 3/31/2026 Assets $47,374,075 $52,970,945 $50,404,809 Variable $39,623,117 $44,912,273 $43,048,779 Fixed $7,750,958 $8,058,673 $7,356,030 Stable Value/Fixed Notes: Contributions $1,669,466 $2,184,317 $484,649 Withdrawals $4,717,790 $3,123,440 $1,749,056 Net Cash Flow -$3,048,324 -$939,123 -$1,264,407 Participants - Contributing 218 Participants - w/ Bal (non-Contribute)241 Participants - Total 459 Loans #15 Loans $$271,152 Loans Repayments ACH/Payroll Deduct Managed Accounts # of Parts 75 Managed Accounts $$8,899,173 SDBO N/A Roth 457 Available & Assets in Plan Yes Record-Keeper #1 - 401(a) 2024 2025 YTD 3/31/2026 Assets $249,179 $351,559 $252,177 Variable $230,346 $319,247 $200,608 Fixed $18,833 $32,312 $51,569 Stable Value/Fixed Notes: Contributions $24,779 $24,184 $5,670 Withdrawals $0 $0 $104,925 Net Cash Flow $24,779 $24,184 -$99,255 Participants - Contributing 2 Participants - w/ Bal (non-Contribute)0 Participants - Total 2 Loans #N/A Loans $N/A Loans Repayments N/A Managed Accounts # of Parts 1 Managed Accounts $$236,858 SDBO N/A Record-Keeper #4 - 401(a) Fiscal 23-24 Fiscal 24-25 Fiscal 25-26 YTD Assets $2,457,348 $2,721,778 $2,968,705 see notes above Stable Value subject to 12-month Put - effective 4/13/2026 Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Variable $2,457,348 $2,721,778 $2,968,705 Fixed $0 $0 $0 Stable Value/Fixed Notes: Contributions $124,527 $102,093 $82,606 Withdrawals $963,247 $127,685 $14,925 Net Cash Flow -$838,720 -$25,591 $67,681 Participants - Contributing 28 Participants - w/ Bal (non-Contribute)70 Participants - Total 98 Loans #0 Loans $$0 Loans Repayments ACH/Payroll Deduct Managed Accounts # of Parts 0 Managed Accounts $$0 SDBO N/A Total Record-Keepers - 401(a) 2024 2025 YTD 3/31/2026 Assets $2,706,527 $3,073,338 $3,220,882 Variable $2,687,694 $3,041,026 $3,169,313 Fixed $18,833 $32,312 $51,569 Stable Value/Fixed Notes: Contributions $149,307 $126,278 $88,276 Withdrawals $963,247 $127,685 $119,850 Net Cash Flow -$813,940 -$1,407 -$31,574 Participants - Contributing 30 Participants - w/ Bal (non-Contribute)70 Participants - Total 100 Loans #N/A Loans $N/A Loans Repayments N/A Managed Accounts # of Parts 1 Managed Accounts $$236,858 SDBO N/A Record-Keeper #1 - RHS/HRA Plan 2024 2025 YTD 3/31/2026 Assets $1,712,651 $1,873,020 $1,831,928 Variable $1,667,841 $1,831,132 $1,796,977 Fixed $44,810 $41,888 $34,951 Stable Value/Fixed Notes: Contributions - none $0 $0 $0 Withdrawals - none $0 $0 $0 Net Cash Flow $0 $0 $0 Participants - Non-Claims Active 77 Participants - Claims Active 135 Participants - Total 212 Stable Value subject to 12-month Put - effective 4/13/2026 Money Market Fund is utilized for this plan see notes above Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Record-Keep #2-457(b) PT-OBRA Plan 2024 2025 YTD 3/31/2026 Assets ALL FIXED $1,380,084 $1,519,891 $1,549,982 Variable $0 $0 $0 Fixed $1,380,084 $1,519,891 $1,549,982 Stable Value/Fixed Notes: Contributions $134,282 $164,383 $36,858 Withdrawals $38,783 $60,027 $12,967 Net Cash Flow $95,499 $104,356 $23,891 Participants - Contributing 242 Participants - w/ Bal (non-Contribute)2229 Participants - Total 2471 Platform request Quote Format Request Advisor Fee Assumption Investment Menu Request Contract Term Important Notes to be Reviewed Before Completing Pricing Proposals Fixed Account Subject to 5-year spread pay or MVA at termination - MVA -4.01% as of 3/31/2026 Please provide pricing in a complete proposal with services included in price clearly identified, as well as disclosure of any and all other services/transactions with additional ER or EE fees clearly identified. Quote without advisor fee. Please do not provide any suggested line-ups other than the options requested below for the stable value/fixed. If a fund in the menu generates institutional revenue to your company there should be no change in the plan asset charge if the client makes a fund change in the future. It is required that there is no determined contract/agreement period with the record keeper. All contracts/agreements must be open-ended with the ability of the City to terminate the contract/agreement. 1. The pricing/fee and credited rates (products) are to be the same for both the 457(b) and 401(a) Plans. 2. It is strongly encouraged to provide a solution for the HRA/RHS and 457 PT-OBRA plans. If you are providing a proposal, the product, fees and credited rates can be different from what is provided for the 457(b) & 401(a) Plans. Please include an affirmative statement as to whether you are providing a proposal for the HRA/RHS and PT-OBRA plans as part of your response. 3. For all Asset charges WITH your managed account solution, assume voluntary participant usage only. There can be no default or QDIA for managed accounts. 4. Current Credited Rates provided must be net of management fees and any record keeping revenue retained by you, and gross of your Asset Charge. 5. A Fixed Product Data sheet is included with this RFP to be provided for any stable value/fixed product proposed. If it is not provided or not complete in our opinion, your proposal may not be considered. 6. Note that Target Date conversions are not an acceptable proposal. Pricing Request Bundled only - Open Architecture Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Explicit Fee on all Assets Record Keeping Revenue Generated Current Net Crediting Rate Guarantee Period for Rate Name of stable Value/Fixed Name of stable Value/Fixed Name of stable Value/Fixed Description of MVA Buy-Out product and any other notes you wish to provide Explicit Fee on all Assets Record Keeping Revenue Generated Current Net Crediting Rate Guarantee Period for Rate Name of stable Value/Fixed Name of stable Value/Fixed Name of stable Value/Fixed Please provide the Explicit Fee on all assets required for an open architecture platform assuming the use of your proprietary stable value or fixed/general account (if applicable). You may provide as many proprietary solutions as you choose. Note: - Record-Keeper #1 for both the 457(b), 401(a) and RHS plans requires a 12-month put on the stable value assets that was initiated 4/13/2026. - It is required as part of your proposal that the MVA for 457(b) Record-Keeper #2 be bought out as part of your proposal. Provide a complete and detailed description of each proposal including how the product is structured (type of investment product) and any required contract period and/or "recovery period "schedule, etc. below. - Note that the Fixed Account for 457(b) Record Keeper #3 will be paid out in 6 installments over 5 years. 457(b) & 401(a) Pricing Request #1: Proprietary Stable Value/Fixed PLEASE DESCRIBE SOLUTION PROVIDED 457(b) & 401(a) Pricing Request #2: Non-proprietary Stable Value/Fixed PLEASE DESCRIBE SOLUTION PROVIDED Please provide the Explicit Fee on all assets required for an open architecture platform assuming the use of non- proprietary stable value or fixed/general account (if applicable). You may provide as many non-proprietary solutions as you choose. Note: - Record-Keeper #1 for both the 457(b), 401(a) and RHS plans requires a 12-month put on the stable value assets that was initiated 4/13/2026. - It is required as part of your proposal that the MVA for 457(b) Record-Keeper #2 be bought out as part of your proposal. Provide a complete and detailed description of each proposal including how the product is structured (type of investment product) and any required contract period and/or "recovery period "schedule, etc. below. - Note that the Fixed Account for 457(b) Record Keeper #3 will be paid out in 6 installments over 5 years. Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Description of MVA Buy-Out product and any other notes you wish to provide Explicit Fee on all Assets Record Keeping Revenue Generated Current Net Crediting Rate Guarantee Period for Rate Name of stable Value/Fixed Name of stable Value/Fixed Name of stable Value/Fixed Description of product and any other notes you wish to provide Explicit Fee on all Assets Record Keeping Revenue Generated Current Net Crediting Rate Guarantee Period for Rate Name of stable Value/Fixed Name of stable Value/Fixed Name of stable Value/Fixed It is strongly encouraged to provide a solution for the HRA/RHS plan. If you are providing a proposal, the product, fees and credited rates can be different from what is provided for the 457(b) & 401(a) Plans. Please include an affirmative statement as to whether you are providing a proposal for the HRA/RHS Plan as part of your response. Please provide the Explicit Fee on all assets required for an open architecture platform assuming the use of your proprietary stable value or fixed/general account (if applicable) and any non-proprietary option you wish to provide. You may provide as many solutions as you choose. Note: - Record-Keeper #1 requires a 12-month put on the stable value assets that was initiated 4/13/2026. HRA/RHS Plan Proposal #3HRA: Please provide description, of proposal 457 OBRA/Part-Time Plan Proposal #4PTS: Please provide description, of proposal It is strongly encouraged to provide a solution for the 457 OBRA-PST plan. If you are providing a proposal, the product, fees and credited rates can be different from what is provided for the 457(b) & 401(a) Plans. Please include an affirmative statement as to whether you are providing a proposal for the 457 OBRA-PST Plan as part of your response. Please provide the Explicit Fee on all assets required for an open architecture platform assuming the use of your proprietary stable value or fixed/general account (if applicable) and any non-proprietary option you wish to provide. You may provide as many solutions as you choose. Note: - It is required as part of your proposal that the MVA for 457(b) Record-Keeper #2 be bought out as part of your proposal. Provide a complete and detailed description of each proposal including how the product is structured (type of investment product) and any required contract period and/or "recovery period "schedule, etc. below. Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Description of product and any other notes you wish to provide Stable Value / Fixed Account Guaranteed Interest Please provide the following for each proprietary stable value/fixed option proposed: 1. Current proposed gross interest rate 2. Fund management fees 3. Revenue sharing 4. Net credited rate after ALL fees and revenue sharing 5. Guaranteed Minimum Interest Rates 6. Full disclosure of ALL participant and plan sponsor transfer and termination provisions clearly identified, including the specific definition of a "competing fund" if applicable. ATTACHED IS A SPREADSHEET "FIXED PRODUCT DATA" - PLEASE COMPLETE FOR ALL PRODUCTS PROPOSED. Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Please note for the following to use $0 Fee if the service is included in the Asset Charge proposed Transactional Fees Fee Sep from Svc Withdrawals $0 Hardship/Unforeseeable Emergency Withdrawals $0 In-Service Withdrawals $0 Periodic Distributions: Set up $0 Annual $0 RMD Distributions $0 Are RMDs automatically generated? Yes/No Are sponsors notified when dist? Yes/No Loans: Initiation $0 Annual $0 QDRO Determination $0 Plan Termination Fees $0 Termination Test File Charge $0 Other Fees Expedited Checks $0 ACH/Wire $0 Stop Pay / Reissue and Special Handling $0 Plan Document Fees Initial Restatement 0 Plan Doc Regulatory Amendment $0 Plan Doc Non-Regulatory Amendment $0 Education and Enrollment at Conversion $0 Additional Education Days/Ongoing $0 Call Center Days and Hours Call Center Multi-Lingual Capabilities Participant Advisory Services Managed Accounts/Personal Advice Fee Schedule 0.00% 0.00% 0.00% 0.00% On-Line Advise $0 participant experience in detail 800# Advise $0 participant experience in detail In Person Individual Advise $0 One-Time Financial Planning $0 Comprehensive Financial Planning $0 Technical Capabilities Participant Educ. at Conversion and Ongoing Web? On-Site? Explanation / Description / Details of Service Provided if Needed Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Is the participant website mobile device capable?Yes/No Do you provide a mobile app to parts? Yes/No Can ALL functions available on the website be completed on the app? If not, provide what is available. Yes/No Is your participant website available in langauges other than English?Yes/No Is your mobile app available in languages other than English?Yes/No Sep from Svc Withdrawals $0 Hardship Withdrawal Determ/Approval $0 In-Service Withdrawals $0 Loan Detemination/Approval $0 QDRO Qualifying Services $0 Delivery of enrollment materials $0 Plan Sponsor Services - Please detail mailing fees if applicable Data As Of Date Company EXAMPLES Product Name Product Type General Account, Separate Account, Pooled Collective Trust, etc Total Assets (in $B) Avg Credit Quality Average/Effective Duration Current Standard Crediting Rate Participant Transfer Restrictions Participant Termination/Surrender Fees or Restrictions Plan Level Termination Provision 12-month Put, Spread Pay 6 over 5, Contractual MVA Formula, Actual Market Value to Book Value, etc. Contract Guar Min Int Rate Rate in column C, any explanation column B Prospective Standard Rate Reset Schedule Monthly, Quarterly, Semi-Annually, Annually, No prospective rate provided, etc. The Proposal Rate & Guarantee Period Corporate bonds/Credits Mortgage Related traditional GIC's Treasuries Cash & Cash Equivalents Asset Back Sec's Agencies Wrap Providers Municipals Other 0% AAA AA A BBB BB & Below 0% CREDITING RATE HISTORY 1-Yr Average 3-Yr Average 5-Yr Average 10-Yr Average Market / Book Ratio of Portfolio SECTOR ALLOCATION [this is a sample sector allocation, please use what is standard for your product discloser] CREDIT QUALITY 1 From:Auslen, Kate Sent:Friday, June 5, 2026 12:24 PM To:Mravunac,S. (Stephanie) Cc:Glendon, S. (Susan); Camisa, J. (Justin) Subject:RE: HR02 - Notice Requesting Proposals / Qualified Plan Record-keeping and Administration Services Attachments:Fixed Product Data.xlsx; Pricing Request - Fillable.xlsx Hello, Here are both attachments that need to be included with your proposal . Best regards, Kate Auslen pronouns she/her/hers Risk and Benefits Manager Human Resources 994 Mill Street, San Luis Obispo, CA 93401-3249 E kauslen@slocity.org T 805.783.7864 slocity.org Stay connected with the City by signing up for e-notifications From: Mravunac,S. (Stephanie) <Stephanie.Mravunac@voya.com> Sent: Friday, June 5, 2026 9:27 AM To: Auslen, Kate <kauslen@slocity.org> Cc: Glendon, S. (Susan) <Susan.Glendon@voya.com>; Camisa, J. (Justin) <Justin.Camisa@voya.com> Subject: HR02 - Notice Requesting Proposals / Qualified Plan Record-keeping and Administration Services Good afternoon Kate, Voya respectfully submits the following question for HR02 - Notice Requesting Proposals / Qualified Plan Record-keeping and Administration Services: Please provide the fillable Microsoft Excel version of the pricing request as referenced in L. Proposal Form: Pricing Request. Thank you, Stephanie Mravunac Sr. RFP Specialist Voya Financial One Orange Way Windsor, CT 06095 2 C (913) 660-8712 stephanie.mravunac@voya.com voya.com Pronouns: she | her | hers --------------------------------------------------------- NOTICE: The information contained in this electronic mail message is confidential and intended only for certain recipients. If you are not an intended recipient, you are hereby notified that any disclosure, reproduction, distribution or other use of this communication and any attachments is strictly prohibited. If you have received this communication in error, please notify the sender by reply transmission and delete the message without copying or disclosing it. ========================================================================================= === Data As Of Date Company EXAMPLES Product Name Product Type General Account, Separate Account, Pooled Collective Trust, etc Total Assets (in $B) Avg Credit Quality Average/Effective Duration Current Standard Crediting Rate Participant Transfer Restrictions Participant Termination/Surrender Fees or Restrictions Plan Level Termination Provision 12-month Put, Spread Pay 6 over 5, Contractual MVA Formula, Actual Market Value to Book Value, etc. Contract Guar Min Int Rate Rate in column C, any explanation column B Prospective Standard Rate Reset Schedule Monthly, Quarterly, Semi-Annually, Annually, No prospective rate provided, etc. The Proposal Rate & Guarantee Period Corporate bonds/Credits Mortgage Related traditional GIC's Treasuries Cash & Cash Equivalents Asset Back Sec's Agencies Wrap Providers Municipals Other 0% AAA AA A BBB BB & Below 0% CREDITING RATE HISTORY 1-Yr Average 3-Yr Average 5-Yr Average 10-Yr Average Market / Book Ratio of Portfolio SECTOR ALLOCATION [this is a sample sector allocation, please use what is standard for your product discloser] CREDIT QUALITY Proposal Due Date Target Conversion Date Record-Keeper #1 - 457(b) 2024 2025 YTD 3/31/2026 Assets $31,876,810 $35,495,066 $34,257,941 Variable $26,679,785 $30,145,102 $29,148,154 Fixed $5,197,024 $5,349,963 $5,109,787 Stable Value/Fixed Notes: Contributions $836,213 $1,163,929 $250,522 Withdrawals $2,898,800 $1,960,424 $718,871 Net Cash Flow -$2,062,587 -$796,495 -$468,349 Participants - Contributing 114 Participants - w/ Bal (non-Contribute)171 Participants - Total 285 Loans #7 Loans $$136,323 Loans Repayments Payroll Deduct Managed Accounts # of Parts 41 Managed Accounts $$6,119,893 SDBO N/A Roth 457 Available & Assets in Plan Yes Record-Keeper #2 - 457(b) 2024 2025 YTD 3/31/2026 Assets $10,426,241 $11,990,660 $11,769,421 Variable $9,648,015 $11,194,750 $10,968,117 Fixed $778,226 $795,910 $801,304 Stable Value/Fixed Notes: Contributions $702,116 $843,514 $191,436 Withdrawals $1,642,413 $838,614 $48,550 Net Cash Flow -$940,297 $4,900 $142,886 Participants - Contributing 89 Participants - w/ Bal (non-Contribute)45 Participants - Total 134 Loans #8 Loans $$134,829 Loans Repayments ACH Managed Accounts # of Parts 30 Managed Accounts $$2,478,003 SDBO N/A Roth 457 Available & Assets in Plan Yes Record-Keeper #3 - 457(b) 2024 2025 YTD 3/31/2026 Assets $5,071,025 $5,485,220 $4,377,447 Variable $3,295,317 $3,572,420 $2,932,508 Fixed $1,775,708 $1,912,800 $1,444,939 Stable Value/Fixed Notes: Contributions $131,137 $176,874 $42,691 PROPOSAL FORM: PRICING REQUEST Fixed Account subject to 5-year spread pay or MVA at termination - MVA -8.18% as of 3/31/2026 Entire Account including Fixed Account subject to CDSC - reported as $0 as of 3/31/2026. Fixed Account subject to 6 payments over 5 years at termination - no MVA option. There are currently 15 participants contributing San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Stable Value subject to 12-month Put - effective 4/13/2026 Plan Statistics and Information Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Withdrawals $176,577 $324,402 $981,635 Net Cash Flow -$45,440 -$147,528 -$938,944 Participants - Contributing 15 Participants - w/ Bal (non-Contribute)25 Participants - Total 40 Loans #0 Loans $$0 Loans Repayments N/A Managed Accounts # of Parts 4 Managed Accounts $$301,277 SDBO N/A Roth 457 Available & Assets in Plan No Total Record-Keepers - 457(b) 2024 2025 YTD 3/31/2026 Assets $47,374,075 $52,970,945 $50,404,809 Variable $39,623,117 $44,912,273 $43,048,779 Fixed $7,750,958 $8,058,673 $7,356,030 Stable Value/Fixed Notes: Contributions $1,669,466 $2,184,317 $484,649 Withdrawals $4,717,790 $3,123,440 $1,749,056 Net Cash Flow -$3,048,324 -$939,123 -$1,264,407 Participants - Contributing 218 Participants - w/ Bal (non-Contribute)241 Participants - Total 459 Loans #15 Loans $$271,152 Loans Repayments ACH/Payroll Deduct Managed Accounts # of Parts 75 Managed Accounts $$8,899,173 SDBO N/A Roth 457 Available & Assets in Plan Yes Record-Keeper #1 - 401(a) 2024 2025 YTD 3/31/2026 Assets $249,179 $351,559 $252,177 Variable $230,346 $319,247 $200,608 Fixed $18,833 $32,312 $51,569 Stable Value/Fixed Notes: Contributions $24,779 $24,184 $5,670 Withdrawals $0 $0 $104,925 Net Cash Flow $24,779 $24,184 -$99,255 Participants - Contributing 2 Participants - w/ Bal (non-Contribute)0 Participants - Total 2 Loans #N/A Loans $N/A Loans Repayments N/A Managed Accounts # of Parts 1 Managed Accounts $$236,858 SDBO N/A Record-Keeper #4 - 401(a) Fiscal 23-24 Fiscal 24-25 Fiscal 25-26 YTD Assets $2,457,348 $2,721,778 $2,968,705 see notes above Stable Value subject to 12-month Put - effective 4/13/2026 Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Variable $2,457,348 $2,721,778 $2,968,705 Fixed $0 $0 $0 Stable Value/Fixed Notes: Contributions $124,527 $102,093 $82,606 Withdrawals $963,247 $127,685 $14,925 Net Cash Flow -$838,720 -$25,591 $67,681 Participants - Contributing 28 Participants - w/ Bal (non-Contribute)70 Participants - Total 98 Loans #0 Loans $$0 Loans Repayments ACH/Payroll Deduct Managed Accounts # of Parts 0 Managed Accounts $$0 SDBO N/A Total Record-Keepers - 401(a) 2024 2025 YTD 3/31/2026 Assets $2,706,527 $3,073,338 $3,220,882 Variable $2,687,694 $3,041,026 $3,169,313 Fixed $18,833 $32,312 $51,569 Stable Value/Fixed Notes: Contributions $149,307 $126,278 $88,276 Withdrawals $963,247 $127,685 $119,850 Net Cash Flow -$813,940 -$1,407 -$31,574 Participants - Contributing 30 Participants - w/ Bal (non-Contribute)70 Participants - Total 100 Loans #N/A Loans $N/A Loans Repayments N/A Managed Accounts # of Parts 1 Managed Accounts $$236,858 SDBO N/A Record-Keeper #1 - RHS/HRA Plan 2024 2025 YTD 3/31/2026 Assets $1,712,651 $1,873,020 $1,831,928 Variable $1,667,841 $1,831,132 $1,796,977 Fixed $44,810 $41,888 $34,951 Stable Value/Fixed Notes: Contributions - none $0 $0 $0 Withdrawals - none $0 $0 $0 Net Cash Flow $0 $0 $0 Participants - Non-Claims Active 77 Participants - Claims Active 135 Participants - Total 212 Stable Value subject to 12-month Put - effective 4/13/2026 Money Market Fund is utilized for this plan see notes above Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Record-Keep #2-457(b) PT-OBRA Plan 2024 2025 YTD 3/31/2026 Assets ALL FIXED $1,380,084 $1,519,891 $1,549,982 Variable $0 $0 $0 Fixed $1,380,084 $1,519,891 $1,549,982 Stable Value/Fixed Notes: Contributions $134,282 $164,383 $36,858 Withdrawals $38,783 $60,027 $12,967 Net Cash Flow $95,499 $104,356 $23,891 Participants - Contributing 242 Participants - w/ Bal (non-Contribute)2229 Participants - Total 2471 Platform request Quote Format Request Advisor Fee Assumption Investment Menu Request Contract Term Important Notes to be Reviewed Before Completing Pricing Proposals Fixed Account Subject to 5-year spread pay or MVA at termination - MVA -4.01% as of 3/31/2026 Please provide pricing in a complete proposal with services included in price clearly identified, as well as disclosure of any and all other services/transactions with additional ER or EE fees clearly identified. Quote without advisor fee. Please do not provide any suggested line-ups other than the options requested below for the stable value/fixed. If a fund in the menu generates institutional revenue to your company there should be no change in the plan asset charge if the client makes a fund change in the future. It is required that there is no determined contract/agreement period with the record keeper. All contracts/agreements must be open-ended with the ability of the City to terminate the contract/agreement. 1. The pricing/fee and credited rates (products) are to be the same for both the 457(b) and 401(a) Plans. 2. It is strongly encouraged to provide a solution for the HRA/RHS and 457 PT-OBRA plans. If you are providing a proposal, the product, fees and credited rates can be different from what is provided for the 457(b) & 401(a) Plans. Please include an affirmative statement as to whether you are providing a proposal for the HRA/RHS and PT-OBRA plans as part of your response. 3. For all Asset charges WITH your managed account solution, assume voluntary participant usage only. There can be no default or QDIA for managed accounts. 4. Current Credited Rates provided must be net of management fees and any record keeping revenue retained by you, and gross of your Asset Charge. 5. A Fixed Product Data sheet is included with this RFP to be provided for any stable value/fixed product proposed. If it is not provided or not complete in our opinion, your proposal may not be considered. 6. Note that Target Date conversions are not an acceptable proposal. Pricing Request Bundled only - Open Architecture Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Explicit Fee on all Assets Record Keeping Revenue Generated Current Net Crediting Rate Guarantee Period for Rate Name of stable Value/Fixed Name of stable Value/Fixed Name of stable Value/Fixed Description of MVA Buy-Out product and any other notes you wish to provide Explicit Fee on all Assets Record Keeping Revenue Generated Current Net Crediting Rate Guarantee Period for Rate Name of stable Value/Fixed Name of stable Value/Fixed Name of stable Value/Fixed Please provide the Explicit Fee on all assets required for an open architecture platform assuming the use of your proprietary stable value or fixed/general account (if applicable). You may provide as many proprietary solutions as you choose. Note: - Record-Keeper #1 for both the 457(b), 401(a) and RHS plans requires a 12-month put on the stable value assets that was initiated 4/13/2026. - It is required as part of your proposal that the MVA for 457(b) Record-Keeper #2 be bought out as part of your proposal. Provide a complete and detailed description of each proposal including how the product is structured (type of investment product) and any required contract period and/or "recovery period "schedule, etc. below. - Note that the Fixed Account for 457(b) Record Keeper #3 will be paid out in 6 installments over 5 years. 457(b) & 401(a) Pricing Request #1: Proprietary Stable Value/Fixed PLEASE DESCRIBE SOLUTION PROVIDED 457(b) & 401(a) Pricing Request #2: Non-proprietary Stable Value/Fixed PLEASE DESCRIBE SOLUTION PROVIDED Please provide the Explicit Fee on all assets required for an open architecture platform assuming the use of non- proprietary stable value or fixed/general account (if applicable). You may provide as many non-proprietary solutions as you choose. Note: - Record-Keeper #1 for both the 457(b), 401(a) and RHS plans requires a 12-month put on the stable value assets that was initiated 4/13/2026. - It is required as part of your proposal that the MVA for 457(b) Record-Keeper #2 be bought out as part of your proposal. Provide a complete and detailed description of each proposal including how the product is structured (type of investment product) and any required contract period and/or "recovery period "schedule, etc. below. - Note that the Fixed Account for 457(b) Record Keeper #3 will be paid out in 6 installments over 5 years. Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Description of MVA Buy-Out product and any other notes you wish to provide Explicit Fee on all Assets Record Keeping Revenue Generated Current Net Crediting Rate Guarantee Period for Rate Name of stable Value/Fixed Name of stable Value/Fixed Name of stable Value/Fixed Description of product and any other notes you wish to provide Explicit Fee on all Assets Record Keeping Revenue Generated Current Net Crediting Rate Guarantee Period for Rate Name of stable Value/Fixed Name of stable Value/Fixed Name of stable Value/Fixed It is strongly encouraged to provide a solution for the HRA/RHS plan. If you are providing a proposal, the product, fees and credited rates can be different from what is provided for the 457(b) & 401(a) Plans. Please include an affirmative statement as to whether you are providing a proposal for the HRA/RHS Plan as part of your response. Please provide the Explicit Fee on all assets required for an open architecture platform assuming the use of your proprietary stable value or fixed/general account (if applicable) and any non-proprietary option you wish to provide. You may provide as many solutions as you choose. Note: - Record-Keeper #1 requires a 12-month put on the stable value assets that was initiated 4/13/2026. HRA/RHS Plan Proposal #3HRA: Please provide description, of proposal 457 OBRA/Part-Time Plan Proposal #4PTS: Please provide description, of proposal It is strongly encouraged to provide a solution for the 457 OBRA-PST plan. If you are providing a proposal, the product, fees and credited rates can be different from what is provided for the 457(b) & 401(a) Plans. Please include an affirmative statement as to whether you are providing a proposal for the 457 OBRA-PST Plan as part of your response. Please provide the Explicit Fee on all assets required for an open architecture platform assuming the use of your proprietary stable value or fixed/general account (if applicable) and any non-proprietary option you wish to provide. You may provide as many solutions as you choose. Note: - It is required as part of your proposal that the MVA for 457(b) Record-Keeper #2 be bought out as part of your proposal. Provide a complete and detailed description of each proposal including how the product is structured (type of investment product) and any required contract period and/or "recovery period "schedule, etc. below. Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Description of product and any other notes you wish to provide Stable Value / Fixed Account Guaranteed Interest Please provide the following for each proprietary stable value/fixed option proposed: 1. Current proposed gross interest rate 2. Fund management fees 3. Revenue sharing 4. Net credited rate after ALL fees and revenue sharing 5. Guaranteed Minimum Interest Rates 6. Full disclosure of ALL participant and plan sponsor transfer and termination provisions clearly identified, including the specific definition of a "competing fund" if applicable. ATTACHED IS A SPREADSHEET "FIXED PRODUCT DATA" - PLEASE COMPLETE FOR ALL PRODUCTS PROPOSED. Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Please note for the following to use $0 Fee if the service is included in the Asset Charge proposed Transactional Fees Fee Sep from Svc Withdrawals $0 Hardship/Unforeseeable Emergency Withdrawals $0 In-Service Withdrawals $0 Periodic Distributions: Set up $0 Annual $0 RMD Distributions $0 Are RMDs automatically generated? Yes/No Are sponsors notified when dist? Yes/No Loans: Initiation $0 Annual $0 QDRO Determination $0 Plan Termination Fees $0 Termination Test File Charge $0 Other Fees Expedited Checks $0 ACH/Wire $0 Stop Pay / Reissue and Special Handling $0 Plan Document Fees Initial Restatement 0 Plan Doc Regulatory Amendment $0 Plan Doc Non-Regulatory Amendment $0 Education and Enrollment at Conversion $0 Additional Education Days/Ongoing $0 Call Center Days and Hours Call Center Multi-Lingual Capabilities Participant Advisory Services Managed Accounts/Personal Advice Fee Schedule 0.00% 0.00% 0.00% 0.00% On-Line Advise $0 participant experience in detail 800# Advise $0 participant experience in detail In Person Individual Advise $0 One-Time Financial Planning $0 Comprehensive Financial Planning $0 Technical Capabilities Participant Educ. at Conversion and Ongoing Web? On-Site? Explanation / Description / Details of Service Provided if Needed Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Is the participant website mobile device capable?Yes/No Do you provide a mobile app to parts? Yes/No Can ALL functions available on the website be completed on the app? If not, provide what is available. Yes/No Is your participant website available in langauges other than English?Yes/No Is your mobile app available in languages other than English?Yes/No Sep from Svc Withdrawals $0 Hardship Withdrawal Determ/Approval $0 In-Service Withdrawals $0 Loan Detemination/Approval $0 QDRO Qualifying Services $0 Delivery of enrollment materials $0 Plan Sponsor Services - Please detail mailing fees if applicable 1 From:Auslen, Kate Sent:Wednesday, June 10, 2026 8:29 AM To:Clancy, Daniel Cc:Fletcher, Amy Subject:RE: RFP Open - Deferred Comp Attachments:RFP Answers to Questions.docx Hi Dan, Attached are answers to RFP questions I received by email. Could you please post to bid net? Kate Auslen pronouns she/her/hers Risk and Benefits Manager Human Resources 994 Mill Street, San Luis Obispo, CA 93401-3249 E kauslen@slocity.org T 805.783.7864 slocity.org Stay connected with the City by signing up for e-notifications From: Clancy, Daniel <dclancy@slocity.org> Sent: Sunday, June 7, 2026 11:42 AM To: Auslen, Kate <kauslen@slocity.org> Cc: Fletcher, Amy <AFletche@slocity.org> Subject: RE: RFP Open Hi Kate, I had the attachments uploaded in an addendum, so not sure. There were 2 questions, but both were about how to find the attachments, so I answered them and pointed them to the addendum. If they need to reach out to me directly, I can provide them the documents also. Thanks, Dan From: Auslen, Kate <kauslen@slocity.org> Sent: Friday, June 5, 2026 12:27 PM To: Clancy, Daniel <dclancy@slocity.org> Cc: Fletcher, Amy <AFletche@slocity.org> Subject: FW: RFP Open 2 Hi Dan, Thanks again for all your help with the RFPs. I’ve gotten a couple questions asking for the attached forms. It may be that they don’t know how to find them in bid net, but thought I’d follow up just to verify they are included. Also, have any questions been submitted via bidnet? We asked them to email me, but wanted to check just in case. Thanks again and have a great weekend, Kate Auslen pronouns she/her/hers Risk and Benefits Manager Human Resources 994 Mill Street, San Luis Obispo, CA 93401-3249 E kauslen@slocity.org T 805.783.7864 slocity.org Stay connected with the City by signing up for e-notifications From: Auslen, Kate Sent: Tuesday, June 2, 2026 2:47 PM To: Clancy, Daniel <dclancy@slocity.org> Cc: Fletcher, Amy <AFletche@slocity.org> Subject: FW: RFP Open Hi Dan, Our consultant just requested that the attached spreadsheet be added to the Deferred Comp RFP so proponents can use it to respond (along with the fillable pricing request). Is that still possible? Kate Auslen pronouns she/her/hers Risk and Benefits Manager Human Resources 994 Mill Street, San Luis Obispo, CA 93401-3249 E kauslen@slocity.org T 805.783.7864 slocity.org Stay connected with the City by signing up for e-notifications From: Carl Steinhilber <CSteinhilber@sfgrpc.com> Sent: Tuesday, June 2, 2026 2:37 PM To: Auslen, Kate <kauslen@slocity.org>; JoAnn Parrino <jparrino@sfgrpc.com> Cc: Sarah Yauchzee <SYauchzee@sfgrpc.com>; Michele Martin <MMartin@sfgrpc.com>; Fletcher, Amy <AFletche@slocity.org> Subject: RE: RFP Open 3 Hello Kate, In the Stable/Value Fixed Account section of the fillable pricing request, the attached Fixed Product Data spreadsheet is requested to be completed by the proponents. Please have this added to the bidnetdirect website to assist the proponents with their responses. Please contact JoAnn or I if you have any questions. Thank you. Carl Steinhilber, CFS Shuster Advisory Group, LLC Mobile 860-306-6321 | Office 626-737-8242 csteinhilber@sfgrpc.com | www.sfgrpc.com 155 N. Lake Ave, Suite 950 | Pasadena, CA 91101 Deferred 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. 1 From:Auslen, Kate Sent:Friday, May 29, 2026 7:28 AM To:JoAnn Parrino Cc:Sarah Yauchzee; Carl Steinhilber; Michele Martin; Fletcher, Amy Subject:Re: RFP Open Great thank you From: JoAnn Parrino <jparrino@sfgrpc.com> Sent: Thursday, May 28, 2026 8:08 PM To: Auslen, Kate <kauslen@slocity.org> Cc: Sarah Yauchzee <SYauchzee@sfgrpc.com>; Carl Steinhilber <CSteinhilber@sfgrpc.com>; Michele Martin <MMartin@sfgrpc.com>; Fletcher, Amy <AFletche@slocity.org> Subject: Re: RFP Open Hello again, The providers listed below have all been notified and provided the link. Joann JoAnn Parrino | Partner Shuster Advisory Group, LLC O: 626-578-3429 | C: 626-372-3299 jparrino@sfgrpc.com | www.sfgrpc.com 155 N. Lake Ave, Suite 950 | Pasadena, CA 91101 CA Insurance License #OB54773 Get Outlook for iOS From: JoAnn Parrino Sent: Thursday, May 28, 2026 2:31:38 PM To: Auslen, Kate <kauslen@slocity.org> Cc: Sarah Yauchzee <SYauchzee@sfgrpc.com>; Carl Steinhilber <CSteinhilber@sfgrpc.com>; Michele Martin <MMartin@sfgrpc.com>; Fletcher, Amy <AFletche@slocity.org> Subject: RE: RFP Open Thank you, Kate. We will forward to MSQ, Empower, Voya, Nationwide, and Corebridge. JoAnn Parrino, Partner jparrino@sfgrpc.com 626.578.3429 From: Auslen, Kate <kauslen@slocity.org> Sent: Thursday, May 28, 2026 2:22 PM To: JoAnn Parrino <jparrino@sfgrpc.com> Cc: Sarah Yauchzee <SYauchzee@sfgrpc.com>; Carl Steinhilber <CSteinhilber@sfgrpc.com>; Michele Martin 2 <MMartin@sfgrpc.com>; Fletcher, Amy <AFletche@slocity.org> Subject: RE: RFP Open Hi JoAnn and Team, The RFP is open here: https://www.bidnetdirect.com/private/buyer/solicitations?savedSearchType=ALL_SOLICITATIONS Please pass it along to any qualified recordkeepers. I will forward questions as I receive them. Kate Auslen pronouns she/her/hers Risk and Benefits Manager Human Resources 994 Mill Street, San Luis Obispo, CA 93401-3249 E kauslen@slocity.org T 805.783.7864 slocity.org Stay connected with the City by signing up for e-notifications From: JoAnn Parrino <jparrino@sfgrpc.com> Sent: Tuesday, May 26, 2026 2:18 PM To: Auslen, Kate <kauslen@slocity.org>; Fletcher, Amy <AFletche@slocity.org> Cc: Sarah Yauchzee <SYauchzee@sfgrpc.com>; Carl Steinhilber <CSteinhilber@sfgrpc.com>; Michele Martin <MMartin@sfgrpc.com> Subject: RFP Items Hi Ladies, I loaded the RFP items into the shared folder, however, I can’t tell if the message I sent you reach you. Attached is what I loaded. The RFP PDF should be posted along with the Excel file for the responders to be able to easily input their answers. Please contact us with any questions. Thank you! JoAnn Parrino | Partner Shuster Advisory Group, LLC O: 626-578-3429 | C: 626-372-3299 jparrino@sfgrpc.com | www.sfgrpc.com 155 N. Lake Ave, Suite 950 | Pasadena, CA 91101 CA Insurance License #OB54773 1 From:Auslen, Kate Sent:Tuesday, June 2, 2026 5:17 PM To:Carl Steinhilber; JoAnn Parrino Cc:Sarah Yauchzee; Michele Martin; Fletcher, Amy Subject:RE: RFP Open Ok that document has been added. We aren’t able to view submissions until the deadline, so we’ll get them to you as soon as possible after it closes. Kate Auslen pronouns she/her/hers Risk and Benefits Manager Human Resources 994 Mill Street, San Luis Obispo, CA 93401-3249 E kauslen@slocity.org T 805.783.7864 slocity.org Stay connected with the City by signing up for e-notifications From: Carl Steinhilber <CSteinhilber@sfgrpc.com> Sent: Tuesday, June 2, 2026 2:37 PM To: Auslen, Kate <kauslen@slocity.org>; JoAnn Parrino <jparrino@sfgrpc.com> Cc: Sarah Yauchzee <SYauchzee@sfgrpc.com>; Michele Martin <MMartin@sfgrpc.com>; Fletcher, Amy <AFletche@slocity.org> Subject: RE: RFP Open Hello Kate, In the Stable/Value Fixed Account section of the fillable pricing request, the attached Fixed Product Data spreadsheet is requested to be completed by the proponents. Please have this added to the bidnetdirect website to assist the proponents with their responses. Please contact JoAnn or I if you have any questions. Thank you. Carl Steinhilber, CFS Shuster Advisory Group, LLC Mobile 860-306-6321 | Office 626-737-8242 csteinhilber@sfgrpc.com | www.sfgrpc.com 155 N. Lake Ave, Suite 950 | Pasadena, CA 91101 From: Auslen, Kate <kauslen@slocity.org> Sent: Friday, May 29, 2026 10:28 AM 2 To: JoAnn Parrino <jparrino@sfgrpc.com> Cc: Sarah Yauchzee <SYauchzee@sfgrpc.com>; Carl Steinhilber <CSteinhilber@sfgrpc.com>; Michele Martin <MMartin@sfgrpc.com>; Fletcher, Amy <AFletche@slocity.org> Subject: Re: RFP Open Great thank you From: JoAnn Parrino <jparrino@sfgrpc.com> Sent: Thursday, May 28, 2026 8:08 PM To: Auslen, Kate <kauslen@slocity.org> Cc: Sarah Yauchzee <SYauchzee@sfgrpc.com>; Carl Steinhilber <CSteinhilber@sfgrpc.com>; Michele Martin <MMartin@sfgrpc.com>; Fletcher, Amy <AFletche@slocity.org> Subject: Re: RFP Open Hello again, The providers listed below have all been notified and provided the link. Joann JoAnn Parrino | Partner Shuster Advisory Group, LLC O: 626-578-3429 | C: 626-372-3299 jparrino@sfgrpc.com | www.sfgrpc.com 155 N. Lake Ave, Suite 950 | Pasadena, CA 91101 CA Insurance License #OB54773 Get Outlook for iOS From: JoAnn Parrino Sent: Thursday, May 28, 2026 2:31:38 PM To: Auslen, Kate <kauslen@slocity.org> Cc: Sarah Yauchzee <SYauchzee@sfgrpc.com>; Carl Steinhilber <CSteinhilber@sfgrpc.com>; Michele Martin <MMartin@sfgrpc.com>; Fletcher, Amy <AFletche@slocity.org> Subject: RE: RFP Open Thank you, Kate. We will forward to MSQ, Empower, Voya, Nationwide, and Corebridge. JoAnn Parrino, Partner jparrino@sfgrpc.com 626.578.3429 From: Auslen, Kate <kauslen@slocity.org> Sent: Thursday, May 28, 2026 2:22 PM To: JoAnn Parrino <jparrino@sfgrpc.com> Cc: Sarah Yauchzee <SYauchzee@sfgrpc.com>; Carl Steinhilber <CSteinhilber@sfgrpc.com>; Michele Martin <MMartin@sfgrpc.com>; Fletcher, Amy <AFletche@slocity.org> Subject: RE: RFP Open Hi JoAnn and Team, 3 The RFP is open here: https://www.bidnetdirect.com/private/buyer/solicitations?savedSearchType=ALL_SOLICITATIONS Please pass it along to any qualified recordkeepers. I will forward questions as I receive them. Kate Auslen pronouns she/her/hers Risk and Benefits Manager Human Resources 994 Mill Street, San Luis Obispo, CA 93401-3249 E kauslen@slocity.org T 805.783.7864 slocity.org Stay connected with the City by signing up for e-notifications From: JoAnn Parrino <jparrino@sfgrpc.com> Sent: Tuesday, May 26, 2026 2:18 PM To: Auslen, Kate <kauslen@slocity.org>; Fletcher, Amy <AFletche@slocity.org> Cc: Sarah Yauchzee <SYauchzee@sfgrpc.com>; Carl Steinhilber <CSteinhilber@sfgrpc.com>; Michele Martin <MMartin@sfgrpc.com> Subject: RFP Items Hi Ladies, I loaded the RFP items into the shared folder, however, I can’t tell if the message I sent you reach you. Attached is what I loaded. The RFP PDF should be posted along with the Excel file for the responders to be able to easily input their answers. Please contact us with any questions. Thank you! JoAnn Parrino | Partner Shuster Advisory Group, LLC O: 626-578-3429 | C: 626-372-3299 jparrino@sfgrpc.com | www.sfgrpc.com 155 N. Lake Ave, Suite 950 | Pasadena, CA 91101 CA Insurance License #OB54773