(1) Vendor needs to provide pension recording keeping services to the government authority located in Alaska.– Maintain individual accounts for participants’ contributions and earnings.– This includes bi–weekly contributions, accrued interest, refunds, repayment of refunds, QDRO distributions, etc.– Receive and review for reasonableness bi–weekly transmission of employee earnings and contribution activity, including adjustments to earnings and contributions– Maintain and update employment activity and demographic data records on participants, including but not limited to compensation, data– Monitor de minimus accounts and rollover information that may be necessary for the operation of the plan.– Provide online access for participants and plan administrator to calculate estimated pension benefits based on service, earnings, the pension formula, early retirement factors and joint and survivor factors.– Provide electronic access for plan administrator to inquire and update information for participant account information– Provide access to plan administrator to run electronic reports and customizable (ad hoc) queries, downloadable to excel for reports.– Provide communications and updates to the plan administrator on software enhancements, web/systems status or changes, participant notifications, and service enhancements.– Calculate accrued interest on account balances to be credited at least monthly– Calculate and maintain vesting and credited service dates based on plan rules.(2) The contract period will be for five years.
↧