The purpose of this Request for Proposals (RFP) is to provide interested and qualified vendors that possess the resources and expertise to provide the State of Wisconsin Deferred Compensation Program (WDC) with a Federal Deposit Insurance Corporation (FDIC) – insured investment option. Proposals from brokers will not be considered.

The Wisconsin Department of Employee Trust Funds (Department) administers the Wisconsin Retirement System (WRS), the group health insurance program for state employees and many local governments, and a variety of other public employee benefit programs. The WRS is the 8th largest pension system in the nation, providing retirement benefits for more than 630,000 current and former state and local government employees on behalf of approximately 1,500 employers. Detailed information about the program listed above is included in the RFP. 

The WDC is an unbundled, qualified deferred compensation program under Section 457 of the Internal Revenue Code. It was created by the Wisconsin Laws of 1981, Ch. 187 and established in 1982 for State employees. The WDC has been available to local public employees since 1985.  Wisconsin Statute Chapter 40, Subchapter VII, Chapter ETF 70 of Wisconsin Administrative Code and the Wisconsin Plan and Trust Document regulate the WDC and set forth the rules and responsibilities of all parties involved with the program. 

The Department intends to use the results of this solicitation to award a Contract for a FDIC – insured investment option. The Contract will be administered and managed by the Department, with oversight by the State of Wisconsin Deferred Compensation Board (Board). This RFP document, its attachments, addendums, and the awarded Proposal will be incorporated into the Contract.

The Department expects the Contract to commence in June or July 2020, after Contract negotiations have been successfully completed, and extend unless and until either party gives the other 180 day’s notice of their intent to terminate the Contract. 

The RFP details the procedures proposers must follow to submit a proposal and the minimum requirements that proposers must meet to be eligible for consideration.

The deadline for receipt of vendor questions regarding this solicitation is April 10, 2020 by 2:00 p.m. CDT. Questions may be submitted as indicated in Section 1.6 of the RFP via email to ETFSMBProcurement@etf.wi.gov.

The deadline for receipt of proposals for this solicitation is May 4, 2020 by 2:00 p.m. CDT. Late submissions will not be considered.

This solicitation is authorized under Chapter 40 of the Wisconsin State Statutes.

Any news releases or release of broadcast e-mails pertaining to this solicitation, any resulting contracts, or the acceptance, rejection, or evaluation, or review of vendor proposals shall not be made without the prior written approval of the Department.

NOTE: All modifications and other information associated with the RFP will be posted here, on the Department’s web site at https://etf.wi.gov/procurement. Interested vendors are encouraged to check this site for updates frequently. No other notification regarding modifications will be provided.

Uploaded Documents

ETJ0050 FDIC Insured Option RFP_0.docx
Appendix 1 - Pro Forma Contract_0.docx
Appendix 2 - Department Terms and Conditions - clean FINAL.docx
Appendix 3 - SFTP Access Request_0.docx
FORM A - Proposal Checklist_0.docx
FORM B - Mandatory Proposer Qualifications.docx
FORM C - Subcontractor Information.docx
FORM D - Request for Proposal Signature Page.docx
FORM E - Vendor Information.docx
FORM F - Vendor References.docx
FORM G - Designation of Confidential and Proprietary Information.docx
FORM H - Cost Proposal.docx
Addendum No. 1 with sample record-keeper enrollment form - as posted.pdf
Addendum No. 2 - 04.24.2020.pdf
ETJ0050 Letter of Intent to Award.pdf
ETJ0050 FDIC Contract.pdf
ETJ0050 FDIC Amendment 1.pdf