Posted Date : May 17,2022
Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID : SW-56972
Government Authority located in Tennessee; USA based organization looking for expert vendor for organizational and functional analysis for detailing technical course options for integrated pension and benefits administration solution.
[A] Budget: Looking for Proposals
[B] Scope of Service:
(1) Vendor needs to provide organizational and functional analysis for detailing technical course options for integrated pension and benefits administration solution.
• Financial Services and Pension Benefits
o Multiple payroll populations and frequencies
- Individual IRS calculations and withholdings
- Annual 1099R member and IRS reporting
- Alternative payment method processing, such as manual checks and debit cards
o Refund request intake, processing, and quality control
- Contribution Refund Pre-Tax Roll-overs
- Contribution Refund directly to participant including Pre- and Post-Tax Contributions
o Ancillary and deceased member identification, verification, and processing
- Deceased Active Member Contribution Refund Processing
- Active and Retired Survivorship Benefit Processing
o Onboarding and Maintaining External Pension Plan (EPP) memberships and benefit accounts
o Account Maintenance including demographic data, tax withholding, and bank account updates
o Member Annual Statement processing
o Cost of Living Adjustment (COLA) processing
o Member record maintenance including address and beneficiary changes for active members
o External Pension Plan Administration, including health insurance, benefit account, payroll, and 1099s.
o Required Minimum Distribution
o Contacting members due a deferred benefit or a refund of contributions
• Member Services
o Retirement Benefit Calculation and Processing
- Account maintenance and corrections, i.e., audit service
- Qualified Domestic Relations Order (QDRO) processing
o Service Purchase Request Intake and Processing
o Optional Retirement Plan (ORP) Transfer
o Benefit Recalculation and Adjustments
- Payment plan changes
- Changes due to input differences (i.e., date of retirement, salary, service, etc.)
- Beneficiary changes
o Post-retirement work
- Limited Teacher Reemployment
- Temporary Employment Processing
- Trailing Wages, Return to Work, and Overpayment Processing
• Compliance and Quality Control
o Benefit Estimate
o Retirement Calculation
o Service Purchase
• Employer Reporting and Outreach
o Monthly Employer Reporting and Contributions via Employer Self-Service
- Post Submission Corrections (Adjustments to Reported Data)
o Employer Onboarding, Setup, and Maintenance
o Employer Salary and Service Reporting
o Employer Retirement Salary and Service Certification for member benefits
o Plan Contribution Rate Communication and Publication
o Enrollment Service Processing
• Benefit Estimates
o Benefit Estimate Calculation and Processing
o Customer Service
• Disability Benefits
o Request application intake
o Coordinate medical review for eligibility qualification
o Annual earnings verification
o Referral for suspension of benefits
• Customer Service
o Respond to customer queries
o Document information in member record
o Send correspondence to members
o Refer cases to specialty retirement programs
• External Customer Service
o Call Center response to customers
o Retirement Plan Advisors meetings with member
• Accounting
o Employer Contribution Funding Collections
- Invoice Posting and Collections
- Quality Control for Employer Adjustments
- Stabilization Reserve Contribution Management
o Member Invoicing and Collections
o Banking operations, including interoperability and ACH integrations
o General Ledger Posting, Reconciliation, and Reporting
o Employer Asset Management
• Member and Retiree Self-Serve Features
o Document Review and Download
o Bank Account Changes
o Demographic Changes, such as contact information
• Shared Process Functions
o Work Management
o Document Management, in correlation with Work Management
- Document Scanning
o Correspondence, digital and physical
o Operational and Control Reporting
o Operational Management Metrics
o Annual Comprehensive Financial Reporting (ACFR) and External Regulatory Reporting
o Actuarial Reporting
o File Integration Functions
- Third-party, Defined Compensation Vendor Data Files
- Correspondence Printing (.txt and .pdf)
- Third-party deceased member identification
- Banking Transactions, including:
•Payroll
o ACH
o Checks
o Cancelled Payments
o Returned ACH
• Payment Recovery
• Employer and Member Debit ACH
• Financial Institutions Validation
- Health Insurance Deductions
[C] Eligibility:
- Onshore (USA Organization Only);
[D] Work Performance:
Performance of the work will be Offsite. Vendor needs to carry work in their office location.
Budget :
Deadline to Submit Proposals: June 20,2022
Cost to Download This RFP/RFQ/RFI/Solicitation/Tender/Bid Document : 5 US$
Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID : SW-56972
Government Authority located in Tennessee; USA based organization looking for expert vendor for organizational and functional analysis for detailing technical course options for integrated pension and benefits administration solution.
[A] Budget: Looking for Proposals
[B] Scope of Service:
(1) Vendor needs to provide organizational and functional analysis for detailing technical course options for integrated pension and benefits administration solution.
• Financial Services and Pension Benefits
o Multiple payroll populations and frequencies
- Individual IRS calculations and withholdings
- Annual 1099R member and IRS reporting
- Alternative payment method processing, such as manual checks and debit cards
o Refund request intake, processing, and quality control
- Contribution Refund Pre-Tax Roll-overs
- Contribution Refund directly to participant including Pre- and Post-Tax Contributions
o Ancillary and deceased member identification, verification, and processing
- Deceased Active Member Contribution Refund Processing
- Active and Retired Survivorship Benefit Processing
o Onboarding and Maintaining External Pension Plan (EPP) memberships and benefit accounts
o Account Maintenance including demographic data, tax withholding, and bank account updates
o Member Annual Statement processing
o Cost of Living Adjustment (COLA) processing
o Member record maintenance including address and beneficiary changes for active members
o External Pension Plan Administration, including health insurance, benefit account, payroll, and 1099s.
o Required Minimum Distribution
o Contacting members due a deferred benefit or a refund of contributions
• Member Services
o Retirement Benefit Calculation and Processing
- Account maintenance and corrections, i.e., audit service
- Qualified Domestic Relations Order (QDRO) processing
o Service Purchase Request Intake and Processing
o Optional Retirement Plan (ORP) Transfer
o Benefit Recalculation and Adjustments
- Payment plan changes
- Changes due to input differences (i.e., date of retirement, salary, service, etc.)
- Beneficiary changes
o Post-retirement work
- Limited Teacher Reemployment
- Temporary Employment Processing
- Trailing Wages, Return to Work, and Overpayment Processing
• Compliance and Quality Control
o Benefit Estimate
o Retirement Calculation
o Service Purchase
• Employer Reporting and Outreach
o Monthly Employer Reporting and Contributions via Employer Self-Service
- Post Submission Corrections (Adjustments to Reported Data)
o Employer Onboarding, Setup, and Maintenance
o Employer Salary and Service Reporting
o Employer Retirement Salary and Service Certification for member benefits
o Plan Contribution Rate Communication and Publication
o Enrollment Service Processing
• Benefit Estimates
o Benefit Estimate Calculation and Processing
o Customer Service
• Disability Benefits
o Request application intake
o Coordinate medical review for eligibility qualification
o Annual earnings verification
o Referral for suspension of benefits
• Customer Service
o Respond to customer queries
o Document information in member record
o Send correspondence to members
o Refer cases to specialty retirement programs
• External Customer Service
o Call Center response to customers
o Retirement Plan Advisors meetings with member
• Accounting
o Employer Contribution Funding Collections
- Invoice Posting and Collections
- Quality Control for Employer Adjustments
- Stabilization Reserve Contribution Management
o Member Invoicing and Collections
o Banking operations, including interoperability and ACH integrations
o General Ledger Posting, Reconciliation, and Reporting
o Employer Asset Management
• Member and Retiree Self-Serve Features
o Document Review and Download
o Bank Account Changes
o Demographic Changes, such as contact information
• Shared Process Functions
o Work Management
o Document Management, in correlation with Work Management
- Document Scanning
o Correspondence, digital and physical
o Operational and Control Reporting
o Operational Management Metrics
o Annual Comprehensive Financial Reporting (ACFR) and External Regulatory Reporting
o Actuarial Reporting
o File Integration Functions
- Third-party, Defined Compensation Vendor Data Files
- Correspondence Printing (.txt and .pdf)
- Third-party deceased member identification
- Banking Transactions, including:
•Payroll
o ACH
o Checks
o Cancelled Payments
o Returned ACH
• Payment Recovery
• Employer and Member Debit ACH
• Financial Institutions Validation
- Health Insurance Deductions
[C] Eligibility:
- Onshore (USA Organization Only);
[D] Work Performance:
Performance of the work will be Offsite. Vendor needs to carry work in their office location.
Budget :
Deadline to Submit Proposals: June 20,2022
Cost to Download This RFP/RFQ/RFI/Solicitation/Tender/Bid Document : 5 US$