Request for Proposals The Orange County Water District 401(a) Money Purchase Plan & 457 (b) Deferred Compensation Plan

All responses due by October 4, 2022


The Orange County Water District is accepting proposals from qualified firms to provide administration, recordkeeping, and investment management services for the District’s Section 401(a) Money Purchase Plan and 457 Deferred Compensation Plans.

Listed below are the primary objectives of this review and selection process:

  • Ensure the selected Plan Provider brings the strongest value to our organization and employees
  • Provide quality Plan service and administration
  • Provide for integrated administration and reporting for each Plan
  • Provide detailed tracking and reporting of employee information
  • Lower participant and Plan expenses where possible
  • Increase participants yield on Safe Harbor investments where possible
  • Increase potential investment selections where possible
  • Outsource District plan administrative functions as appropriate
  • Consider Plan Providers who can integrate services with and compensate our Retirement Plan Consultants
  • Gather pricing for our 401(a) and 457(b) plans for both combined and separate Plan Providers
  • Provide for an orderly and timely transition (if applicable)

The Orange County Water District currently employs 225 people covering three offices in Orange County, Ca.

Total Current Assets:

401(a) Money Purchase $155,810,375
457 Deferred Comp Plan $31,630,868

Total Number of Participants:

401(a) Money Purchase 340
457 Deferred Comp Plan 255

Total amount of participant deferrals in

401(a) Money Purchase $5,647,949
457 Deferred Comp Plan $1,941,307

Total amount of participant withdrawals in

401(a) Money Purchase $6,094,916
457 Deferred Comp Plan $3,106,809

Current Interest Rate for Safe Harbor accounts:

401(a) Plan Prudential GIF 1.6%
457 Plan Prudential GIF 1.6%

II. Minimum Requirements for Proposing Firms 2022 401(a) and 457(b) Plan Administration

  • The firm must have at least ten (10) years' experience administering public sector 457(b) Deferred Compensation Plans and public sector Section 401(a) Defined Contribution Plans.
  • Any contract entered into by the District must stipulate that there will be no front‐end charges, no back‐end charges or market value adjustments (MVA) of any kind. In addition, there will be no restrictions or penalties on participant transfers or withdrawals, with the possible exception of stable value equity wash provisions and/-or mutual fund specific short‐term trading fees.
  • The firm must be able to provide bundled record‐keeping, plan administration, plan compliance, plan document, and government reporting services.
  • The firm must be able to compensate the District’s Retirement Plan Consultants for their services. The compensation is a percentage‐based on plan assets and must be level compensation for all investments offered.
  • With the possible exception of the stable value fund, all investment options in the core plan will be mutual funds with readily available expense ratios and daily net asset value (NAV) pricing.
  • Upon award of the contract, the winning firm must be duly qualified to do business in the state of California.
  • The firm must have knowledge of, and comply with, all applicable California state and federal regulations regarding public sector retirement plans and investment options.
  • The terms outlined in this RFP must be guaranteed up to and through the negotiation of the final contract.
  • The firm must comply with our Insurance Coverage requirements for general liability, professional liability, and automotive insurance for your representatives

For complete RFP, click on Request for Proposals The Orange County Water District 401(a) Money Purchase Plan & 457 (b) Deferred Compensation Plan.

For vendor questions and answers, click on OCWD 401a 457 RFP Vendor Questions and Answers.

Please submit proposals electronically via e-mail by 4:00pm PT on or October 4, 2022, to:

Orange County Water District
Ms. Stephanie Dosier