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Appendix <br />ATTACHMENTI <br />SCOPE OF WORK <br />Introduction and Background <br />The City of Santa Ana's full-time employee 457 Deferred Compensation Plan ("Plan") was established in 1973, <br />with the adoption of City Resolution 7-21. Currently, the City's 457 Deferred Compensation Plan holds <br />approximately $114 million in Plan Assets for I,171 participants and is administered through the Finance & <br />Management Services Agency. The Committee is comprised of the Executive Director of Finance, the Assistant <br />Finance Director, the Treasury Manager and the Budget Analyst. <br />The Committee recently transitioned the record keeping aspect of its 457 (b) Plan to Prudential on 10/1/2018. <br />As such, the Committee is soliciting a firm that will work hand -in -hand with the Committee and Prudential in <br />order to assist in the comprehensive management of the Plan. <br />In addition, the Committee is considering adding a self -directed brokerage account to allow certain participants <br />to invest in Mutual Funds outside of the Plan's official investment lineup. <br />Description of Work <br />The City of Santa Ana is seeking highly qualified Finns to provide plan administration, investment and <br />communication related services for the cty's current 457 Deferred Compensation Retirement Plan. Such services <br />include but are not limited to the following; <br />Administrative: <br />• Plan Design Compliance <br />• Regulatory/technical guidance <br />• Prepare annual Plan Provider cost analysis <br />• Assist in the development of Request for Proposals for Plan Provider, when the RFP is needed <br />• Assist in ensuring best practices are met in the interest of the participants <br />Investment• <br />• Conduct up to four quarterly reviews of investment options <br />• Conduct due diligence on current investment options and make recommendations on alternative options <br />• Assist in implementing fund changes and transitions <br />• Maintain and revise the Investment Policy Statement for the Plan <br />• Attend on -site meetings and provide recorded minutes for each meeting/conference call <br />• Ensure best practices are met in the review & evaluation of investment options <br />Communication: <br />• Assist the Committee with developing marketing and education strategies for participants <br />• Assist the Committee with developing marketing & education materials <br />• Provide educational seminars that will supplement the seminars conducted by the Plan Provider <br />City of Santa Ana RFPP 18-102 <br />Page 9 <br />