Loading...
HomeMy WebLinkAboutCity of San Luis Obispo Pricing Request Empower Response - FillableProposal 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 Withdrawals $176,577 $324,402 $981,635 Net Cash Flow -$45,440 -$147,528 -$938,944 Participants - Contributing 15 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 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 PROPOSAL FORM: PRICING REQUEST Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 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 $$236,858 SDBO N/A Record-Keeper #4 - 401(a) Fiscal 23-24 Fiscal 24-25 Fiscal 25-26 YTD Assets $2,457,348 $2,721,778 $2,968,705 Variable $2,457,348 $2,721,778 $2,968,705 Fixed $0 $0 $0 Stable Value/Fixed Notes: Contributions $124,527 $102,093 $82,606 Withdrawals $963,247 $127,685 $14,925 see notes above Stable Value subject to 12-month Put - effective 4/13/2026 Money Market Fund is utilized for this plan Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Net Cash Flow -$838,720 -$25,591 $67,681 Participants - Contributing 28 Participants - w/ Bal (non-Contribute)70 Participants - Total 98 Loans #0 Loans $$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 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 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 Fixed Account Subject to 5-year spread pay or MVA at termination - MVA -4.01% as of 3/31/2026 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 Putnam ISA 57 0.095% 0.30% 457b & 401a - 3.87% Quarterly Guaranteed Income Fund (GIF)0.090% 0.00% 457b & 401a - 3.80% Subject to rate reset every 6 months Guaranteed Income Fund (GIF) - Rate Reduction 0.060% 0.00% 457b -3.55% 401a - 3.80% Subject to rate reset every 6 months 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 No Assumed Proprietary Fund 0.11% 0.00% TBD TBD 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. 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 We propose two methods to buy out the MVA. Method #1 Buyout the MVA upfront with no additional reduction to the crediting rate. This method is used in the first two scenarios above. Method #2 Our buyout structure for the 457b plan would result in a 0.25% rate reduction and apply to the $65,547 MVA, for a NET rate of 3.55%. The rate reduction will last for approximately 5 years (can be more or less depending on the recovery). The rate reduction stays on the crediting rate until a full recovery of the MVA buyout is complete. Once the adjustment is recovered, Empower will lift off the rate reduction. If the GIF investment is terminated prior to a full recovery, the Plan will agree to either pay or direct Empower to reduce the GIF payment representing the unrecovered amount. The terms of the arrangement will be imbedded into the Expense Schedule of the GIF Group Annuity Contract. 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 Guaranteed Protection Fund (GPF) 0.25% + $2 per memeber per month N/A 2.80% Subject to rate reset every 6 months 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 Guaranteed Income Fund (GIF) $32 per participant N/A 3.00% Subject to rate reset every 6 months We will buy out the MVA up-front with no rate reductions given this is an open architecture proposal so the sponsor has flexibility on what Stable Value fund they would like to use For the HRA we do require the use of our Guaranteed Protection Fund. 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. 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. 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 Our Buyout structure for the OBRA would result in a 0.80% rate reduction for a NET rate of 3.00%. This covers the full MVA of $62,154. The rate reduction will last for approximately 5 years (can be more or less depending on the recovery). The rate reduction stays on the crediting rate until a full recovery of the MVA buyout is complete. Once the adjustment is recovered, Empower will lift off the rate reduction. If the GIF investment is terminated prior to a full recovery, the Plan will agree to either pay or direct Empower to reduce the GIF payment representing the unrecovered amount. The terms of the arrangement will be imbedded 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 $75 Hardship/Unforeseeable Emergency Withdrawals See comment In-Service Withdrawals $50 Periodic Distributions: Set up $50 Annual $25 RMD Distributions $0 Are RMDs automatically generated? No Are sponsors notified when dist? Yes Loans: Initiation $95 Annual $50 QDRO Determination $400 Plan Termination Fees $0 Termination Test File Charge $0 Other Fees Expedited Checks $50 ACH/Wire $15 Stop Pay / Reissue and Special Handling $0 Plan Document Fees Initial Restatement 0 Plan Doc Regulatory Amendment TBD Plan Doc Non-Regulatory Amendment $0 Education and Enrollment at Conversion $0 Additional Education Days/Ongoing $500 Explanation / Description / Details of Service Provided if Needed Separation from service/retirement/plan terminations: $75 Small balance force-outs (de minimis): $75 $85 to qualify; $50 to disburse Charged in quarterly installments. $400 per qualified domestic relations order (QDRO) per plan, debited from participant accounts and paid to QDRO Consultants. One-time Automated Clearing House (ACH) distributions. Wire is not available. Overnight or express delivery: the then-current fee, which is currently $50. We have no contract termination fees; however, we do request a 90-day written notice prior to terminating the contract. We will transfer participant data and all data involving a participant or beneficiary’s benefit at deconversion; however, we do not transfer transaction activity detail and electronic records of paper documents received and generated to the client or client’s designee at the end of the term of the agreement as a standard part of our deconversion process. However, we can provide this A report is available on the plan sponsor website. While there is no fee to convert to Empower’s plan document, mandatory restatements due to remedial amendment cycles (generally, every six years) are subject to an additional fee. The fee for the current restatement is $1,500. Amendments required to accommodate legislative or regulatory changes may be subject to a fee, which is determined on a per-amendment basis. Participant Educ. at Conversion and Ongoing We can make changes to standard elections in the plan document at your request, as long as the proposed change does not jeopardize the tax qualification of the plan. We will provide 4 onsite advice/education day per year and virtual as needed. Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Call Center Days and Hours Call Center Multi-Lingual Capabilities Participant Advisory Services Managed Accounts/Personal Advice Fee Schedule Under $100,000 Next $150,000 up to $250,000 Next $150,000 up to $400,000 Over $400,000 On-Line Advise $0 participant experience in detail 800# Advise $0 We have Customer Care Center representatives who speak Spanish. We can also assist participants in over 200 different languages through our language line service provided by CyraCom International. Using the language line, the Empower retirement representative and the foreign language speaking participant are placed in telephone conference with a CyraCom representative to interpret the conversation. If the City elects to offer Empower Advisory Services as part of the plan, there are no plan-level fees. The fee for the My Total Retirement service is charged only to the participants electing the service. My Total Retirement: fee is based on the participant account balance and the method of enrollment (opt-in or opt-out) feature elected by the plan as detailed below. With the opt-in feature, eligible employees must elect to be enrolled in the service. With the opt-out feature, eligible employees are automatically enrolled, and participants can choose to opt out and not be enrolled. For parƟcipant account balances: Retirement representatives are available Monday through Friday from 5 a.m. to 7 p.m.Pacific time, excluding most financial market holidays, and Saturday from 6 a.m. to 2:30 p.m. Pacific time. Additionally, our interactive voice response system, website and mobile apps are available 24 hours a day, seven days a week[1]. [1] A period of time — early Sunday mornings — is blocked off for system maintenance. The system is rarely taken off-line, but the time period is available if needed. 0.40% opt-in 0.30% opt-in 0.20% opt-in For people who do not enroll in My Total Retirement, online advice provides them with access to self-service advice powered by the same methodology as My Total Retirement. This service can provide investment allocation recommendations and savings rate advice that they can choose to implement on their own. The Online Advice option is available for no fee and provides advice to people, who then must execute the recommendations to their account on their own. Online Advice enables people to enter personal financial information in order to receive an asset allocation and savings rate recommendation based on their risk tolerance and other unique circumstances, including their retirement projection analysis. It is up to the individual’s discretion to implement the asset allocation and savings rate recommendations by choosing the investment options within the plan’s lineup to construct the strategy. 0.50% opt-in Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 participant experience in detail In Person Individual Advise $0 Comprehensive Financial Planning Included Technical Capabilities Is the participant website mobile device capable?No Do you provide a mobile app to parts? Yes Empower can act as a fiduciary for participants regarding investment advice and provide recommendations on investments, roll-ins to the plan, and distributions, acting in the best interest of your participants, and do it at no additional cost to the plan or participant. We provide nondiscretionary advice through our best-interest profile tool. Representatives in our Workplace Planning and Advice (WPA) team and our retirement plan advisors use this tool to provide participant-level fiduciary advice. Investment recommendations are generated by independent experts at Morningstar Investment Management — and are not based on proprietary product requirements, representative commissions, or any other business considerations. Participants enrolling in managed account services provided by Empower Advisory Services (if offered under the plan) receive ongoing advice instead of point-in-Ɵme advice. In addition to education and counseling in group and one-on-one meetings, the retirement plan advisor will complete a personalized, comprehensive Retirement Readiness Review with each employee who desires one. This review encompasses all relevant participant data to make fully relevant recommendations on savings rates and investment options in-person or virtually. Retirement plan advisors will also use the best-interest profile tool to provide particpant-level fiduciary advice. Our comprehensive financial planning services are based on a clear understanding of the participant’s current financial situation and personal goals. These services, including financial plans and financial wellness checkups, help employees set clear goals and stay on track with ongoing support, encompassing a broad range of topics and convenient resources. Through these financial planning services, participants receive a dedicated financial planner, a comprehensive plan (document), a customer portal, and access to the financial planning team. This team comprises financial planning professionals who are certified and who maintain FINRA Series 7 securities registrations as well as Series 63, 65, and/or 66 state securities registrations. Under the subscription model, we will reach out to initiate the annual review. Additionally, the participant has ongoing access and can initiate updates/reviews as desired. Like our web experience, Empower’s award-winning mobile experience has been enhanced with new tools and features to help individuals understand and analyze the full view of their savings outlook. Customers accessing their account via the browser on their phone and tablet are directed to our iOS® and Android™ apps. Through our apps, mobile users are delivered a unique, user- friendly experience that is tailored to device preference and the specific tasks they are looking to perform. Empower’s mobile app provides an intuitive experience, allowing participants to access the same key features as the website from their mobile devices. With view and transactional capabilities, participants can access fund performance information, statements, enroll, manage account information, update deferral amounts, designate beneficiaries, and adjust investment allocations. The app also includes a Spanish translation option for enhanced accessibility. Additionally, our mobile app supports inquiry capabilities for the iOS watch. Proposal Due Date Target Conversion Date San Luis Obispo - Coordinated with Shuster Advisory Group, LLC 06/12/2026 or earlier 11/1/2026 Can ALL functions available on the website be completed on the app? If not, provide what is available. No Is your participant website available in langauges other than English?Yes Is your mobile app available in languages other than English?Yes 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 While nearly on par with each other, not all functionality of the website may be available in the app and not all functionality of the app may be available on the website. Empower’s mobile app provides an intuitive experience, allowing participants to access the same key features as the website from their mobile devices. Participants can enroll, manage account information, update deferral amounts, designate beneficiaries, and adjust investment allocations. Participants can also use planning tools including the Retirement Planner and account aggregation. Empower’s participant website experience is available to your Spanish speaking employees. Our dual-language feature provides instant translations at the touch of a button. And, for added convenience, when your employees change their language preferences on the website it also applies to their statements and other participant communications. Participants can view the same experience in English or Spanish and retain their language preferences for future visits. Spanish functionality includes enrolling in seconds, viewing their projected retirement income, comparing their savings to that of others, estimating retirement healthcare costs, adjusting contributions, rebalancing their portfolios, managing their health savings accounts (if applicable), accounting for outside assets, and getting updates and confirmations. Although 95% of the website is in Spanish, certain portions of the website are not translated and remain in English due to regulatory compliance. Please review the Empower Participant Experience - Spanish Capabilities for additional information. Plan Sponsor Services - Please detail mailing fees if applicable Spanish translation is available on the iOS and Android app. When an individual accesses their account using the iOS or Android app, Empower will automatically reference the language preference setting on their phone or tablet and display Spanish if the individual has selected this preference in their device setting. Due to regulatory compliance, certain portions of the app are not translated and will remain in English. QDRO outsourcing to Empower is included in our proposal. Participant fees are noted above. Through a subcontract under the plan sponsor’s service agreement, QDRO Consultants provides qualification services for DROs, including risk assumption, DRO review, and qualified status determinations. If the plan sponsor elects to send us a newly eligible file feed, we can email the enrollment materials directly to eligible employees. If there is no email address on file, we will mail the material to the employee upon eligibility. Within 30 days of eligibility, your employees are notified and receive instructions on how to register for the plan. Distribution outsourcing to Empower is included in our proposal. Participant fees are noted above. Distribution outsourcing to Empower is included in our proposal. Participant fees are noted above. Distribution outsourcing to Empower is included in our proposal. Participant fees are noted above. Loan outsourcing to Empower is included in our proposal. Participant fees are noted above.