Doing Business with GERS

RFPs

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• IMPLEMENTATION AND PLAN ADMINISTRATION of 457B Deferred Compensation Plan and 403b Plan

  IMPLEMENTATION AND PLAN ADMINISTRATION
  of 457B Deferred Compensation Plan and 403b Plan
   
  The Employees Retirement System of the Government of the Virgin Islands is soliciting proposals for a qualified firm to provide administration, record keeping, education, enrollment, communication, investment and applicable compliance services for a 457b Deferred Compensation Plan and 403b Plan.
  
  Documents pertaining to this may be obtained by downloading an electronic copy of the Request for Proposal (RFP).  Please reply between the hours of 8:00am and 5:00pm, Monday through Friday to:
  

   
  Attention: Administrator

  3438 Kronprindsens Gade
  GERS Complex, Ste. 1
  St. Thomas, Virgin Islands 00802
       
  PROPOSAL DUE DATE AND TIME:     January 27, 2012 at 4:00pm AST
   
  PROPOSAL DUE PLACE:                    Employees Retirement System of the
                                                                     Government of the Virgin Islands
                                                                     3438 Kronprindsens Gade, GERS Complex, Ste.1
                                                                     St. Thomas, Virgin Islands 00802-5750
   
  DIRECT INQUIRES:                               Anthony J. Selkridge
                                                                     Assistant Administrator
                                                                     Employees Retirement System of the
                                                                     Government of the Virgin Islands
                                                                     3438 Kronprindsens Gade, GERS Complex, Ste.1
                                                                     St. Thomas, Virgin Islands 00802-5750
                                                                     aselkridge@usvigers.com

   

  Request for Proposal:  Questions/Answers

  Proposers have until Friday, January 27, 2012 to ask questions related to the Request for Proposal. The answers below were provided to proposers in response.
  
  

  Question:       What is the anticipated participation rate for these new programs?

  Answer:         The Virgin Island Government employed approximately 11,000 in 2010.

  Question:        Does GERS anticipate offering an employer match or incentive to participate in these voluntary programs?

  Answer:           No match.

  Question:        Does GERS anticipate any changes to the current defined benefit plan, placing more emphasis on the newly

                         created defined contribution plans?

  Answer:          No changes other than offering a more robust selection of retirement funding options.

  Question:        How many copies of the response would you like? 

  Answer:          3 copies

  Question:        Have there been any addenda issued since the RFP was distributed? If so, where are they located?

  Answer:          No Addenda

  Question:        How many on site-day education days are desired?

  Answer:          Your call

  Question:        There are questions about mapping/conversion of assets to the new provider. I do not believe they are
                         applicable since this is a new plan, correct?

  Answer:          New Plan

  Question:        We believe these plans will be non-ERISA. Please confirm.

  Answer:          Non-ERISA

  
  

RFQs

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