RFP for Plan Administration and Record Keeping Services

The City of West Linn (hereinafter “City” or “Plan Sponsor”) is soliciting proposals from qualified firms (hereinafter “Proposing
Firm(s)” or “Firm(s)”) to provide retirement plan administration, record keeping, education, communications, investment‐
related, and other services for the 457 Deferred Compensation Plan (hereinafter “Plan”).
The primary goals for this Request for Proposal (hereinafter “RFP”) process include the following:

• Enhancing participant retirement outcomes;
• Analyzing the overall competitiveness of the Plan;
• Providing for the integrated administration and reporting for the Plan;
• Offering the most appropriate investment menu;
• Improving participant education and communication services;
• Enhancing the formal education for the Deferred Compensation Committee (hereinafter “Committee”);
• Providing robust online transaction and information capabilities;
• Providing support for as many administrative functions as deemed appropriate;
• Evaluating alternative pricing structures, including scenarios that consolidate plans to one record keeper;
• Fee transparency and reducing participant and Plan expenses;
• Providing for an orderly and timely transition of assets and services if necessary; and
• Formalizing the recordkeeper/Committee working relationship

The Plan is using a combination of administrative fees and revenue share to pay for recordkeeping and administrative services
today. As part of this RFP, the Committee will explore the utilization of institutional, non‐revenue share investment options
and using an explicit participant fee to pay for recordkeeping and administrative services. This will allow for fee transparency
and provide a more equitable distribution of Plan costs.

As part of this process, the City, is looking to develop a Deferred Compensation Plan Committee (hereafter “Committee”) to
carry out the fiduciary duties and have discretionary authority over the administration of the retirement programs. The
Committee will continue to monitor and evaluate the Plan on an ongoing basis through regular meetings.
All RFP responses received in good order will be reviewed by Hyas Group (hereafter “City’s Consultant”) and the Committee.
The Committee carries out the fiduciary duties and has discretionary authority over the administration of the Plan.