Posted Date : July 07,2022
Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID : HR-4755
Government Authority located in Warwick, Rhode Island; USA based organization looking for expert vendor for master custody and payroll services.
[A] Budget: Looking for Proposals
[B] Scope of Service:
Vendor needs to provide master custody and payroll services to retain a new master trust custodian and retirement payroll administrator to the government authority located in Warwick, RI.
1. Custodian
- Currently act as custodian for over $100 billion in assets and have been in business for at least five years as of December 31, 2021.
- Be authorized to conduct custodial services in state.
- Provide a statement of good standing in their incorporating state.
- Provide clear disclosure on their ownership of or participation with broker and dealers or investment advisors.
- Document an affirmative working relationship with financial advisors in other pension funds.
- Currently serve as a payroll administrator for public sector beneficiary pension payroll operations in at least five public pension plans with annual payments exceeding $40 million annually.
- Have software capability to concurrently handle bi-monthly and monthly payroll servicing with similar capacity and capabilities.
- Provide a mobile and web-based app for beneficiaries so they can track and have access to their payment information including 1099s.
- Have available an Employee Self-Service Portal system that allows beneficiaries to update address, withholding, and other personal information.
- Have payroll software that allows for a wide range of special exceptions such as various court orders, annual or semi-annual rate increases, and retroactive adjustments.
2. Payroll Services
- Annual report and financial statements of the responder.
- Client satisfaction study information.
- A summary of the firm’s organizational structure.
- Documentation of current beneficiary payroll service contracts.
- Identification of key staff who will be assigned to the Warwick pension accounts.
- A summary of transaction procedures and reporting.
- Documentation of capacity to issue 1099R Forms to retirees and beneficiaries.
- A summary of the proposers in house system capabilities.
- A complete description of the payroll software and flexibility for exceptions.
- A description of cyber-security protection included within the system.
- A description of user App capabilities.
- A chronology and description of the transition and conversion process from one vendor to the other.
[C] Eligibility:
- Onshore (USA Organization Only);
[D] Work Performance:
Performance of the work will be Offsite. Vendor needs to carry work in their office location.
Budget :
Deadline to Submit Proposals: August 16,2022
Cost to Download This RFP/RFQ/RFI/Solicitation/Tender/Bid Document : 5 US$
Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID : HR-4755
Government Authority located in Warwick, Rhode Island; USA based organization looking for expert vendor for master custody and payroll services.
[A] Budget: Looking for Proposals
[B] Scope of Service:
Vendor needs to provide master custody and payroll services to retain a new master trust custodian and retirement payroll administrator to the government authority located in Warwick, RI.
1. Custodian
- Currently act as custodian for over $100 billion in assets and have been in business for at least five years as of December 31, 2021.
- Be authorized to conduct custodial services in state.
- Provide a statement of good standing in their incorporating state.
- Provide clear disclosure on their ownership of or participation with broker and dealers or investment advisors.
- Document an affirmative working relationship with financial advisors in other pension funds.
- Currently serve as a payroll administrator for public sector beneficiary pension payroll operations in at least five public pension plans with annual payments exceeding $40 million annually.
- Have software capability to concurrently handle bi-monthly and monthly payroll servicing with similar capacity and capabilities.
- Provide a mobile and web-based app for beneficiaries so they can track and have access to their payment information including 1099s.
- Have available an Employee Self-Service Portal system that allows beneficiaries to update address, withholding, and other personal information.
- Have payroll software that allows for a wide range of special exceptions such as various court orders, annual or semi-annual rate increases, and retroactive adjustments.
2. Payroll Services
- Annual report and financial statements of the responder.
- Client satisfaction study information.
- A summary of the firm’s organizational structure.
- Documentation of current beneficiary payroll service contracts.
- Identification of key staff who will be assigned to the Warwick pension accounts.
- A summary of transaction procedures and reporting.
- Documentation of capacity to issue 1099R Forms to retirees and beneficiaries.
- A summary of the proposers in house system capabilities.
- A complete description of the payroll software and flexibility for exceptions.
- A description of cyber-security protection included within the system.
- A description of user App capabilities.
- A chronology and description of the transition and conversion process from one vendor to the other.
[C] Eligibility:
- Onshore (USA Organization Only);
[D] Work Performance:
Performance of the work will be Offsite. Vendor needs to carry work in their office location.
Budget :
Deadline to Submit Proposals: August 16,2022
Cost to Download This RFP/RFQ/RFI/Solicitation/Tender/Bid Document : 5 US$