REQUEST FOR PROPOSAL RFP 15-16 RETIREMENT PLAN · PDF fileRetirement Plan Fiduciary Central...

PERSONS RECEIVING THIS RFP FROM THE INTERNET, EMAIL OR BY FAX MUST CALL (501) 377-1266 AND REGISTER THEMSELVES AS A POTENTIAL RESPONDER. FAILURE TO REGISTER MAY RESULT IN YOU MISSING AN AMENDMENT, AND A MISSING AMENDMENT MAY RESULT IN YOUR OFFER BEING FOUND NON-RESPONSIVE.

REQUEST FOR PROPOSAL

RFP 15-16 RETIREMENT PLAN FIDUCIARY

Mailing Date June 5, 2015

Submittal Due Date

June 26, 2015 2:00 P.M. CT

To

Elizabeth Tuck-Rowan, CPPO, CPPB, C.P.M., CPSD Purchasing Manager

Purchasing Office Central Arkansas Water

221 East Capitol Avenue, 3rd Floor Little Rock, AR 72202

(501) 377-1266

Retirement Plan Fiduciary Central Arkansas Water ITB 15-16

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Retirement Plan Fiduciary

RFP 15-16

1.0 PURPOSE

The intent of this Request for Proposal (RFP) is to solicit proposals from qualified retirement plan advisors to advise and support Central Arkansas Water’s (CAW) Retirement Committee. The “Advisor” will be engaged to assist the Retirement Committee in the evaluation and administration of its retirement plans. CAW currently offers its employees optional participation in a 457(b) salary deferral plan from one of two third party providers as well as a 401(a) plan in which participation is mandatory. It is CAW’s policy to encourage the involvement of Disadvantaged Business Enterprises (minority-owned and women-owned businesses) in contract awarded. DBE’s are particularly invited to submit statements, either as a prime contractor, subcontractor or as a part of a joint venture. Non-DBE firms are encouraged to arrange subcontractors or joint ventures with DBE’s prior to submission of their bid.

2.0 COMPETITION INTENDED

It is CAW’s intent that this Request for Proposal permits competition. It shall be the responders responsibility to advise the Purchasing Manager in writing if any language, requirement, specification, etc., or any combination thereof, inadvertently restricts or limits the requirements stated in this RFP to a single source. Such notification must be received by the Purchasing Manager no later than ten (10) days prior to the date set for acceptance of proposals.

3.0 RESPONDERS MINIMUM QUALIFICATIONS

Responders must demonstrate that they have the resources and capability to provide the services as described herein. All responders must submit the documentation indicated with their proposal. Failure to provide any of the required documentation shall be cause for proposal to be deemed non-responsive and rejected. The following criteria shall be met in order to be eligible for this contract: 3.1 Responders must demonstrate that they are financially stable and that they have been

in business providing similar service for at least the last five (5) years. The responder shall provide a copy of their most recent financial statements as part of their proposal.

3.2 Responders shall provide, at a minimum, three (3) comparable references of current work being performed. These references must be for entities in which advisory services related to retirement plans have been provided successfully on a consistent basis.


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4.0 SCOPE OF SERVICES All proposals must be made on the basis of, and either meet or exceed, the requirements contained herein. All responders must be able to provide the following Services:

Assist in the ongoing review and selection of plan investments

Provide monitoring of and reporting on plan investments to the CAW Retirement Committee on a quarterly basis (including attendance at Committee meetings as requested).

Assist in review of plan service providers including third party fee benchmarking of current CAW plan(s)

Provide a complete fiduciary assessment of current CAW plan(s)

Perform a review of plan administration for compliance with plan documents and ERISA best practices

Implement and administer an employee and fiduciary education program 5.0 REQUEST FOR PROPOSAL

5.1 Investment Review and selection of plan investments

5.1.1 What type of analysis do you employ to evaluate our retirement plan investments?

5.1.2 Can you assist us in developing and maintaining an Investment Policy Statement (IPS)? If so, how?

5.1.3 Please describe the procedures your firm employs in selecting new or additional investment options.

5.1.4 What is your basis for the removal of an investment option from the Plan? 5.1.5 Provide a sample of a typical investment policy used with your clients. How

does it work in conjunction with your review process?

5.2 Investment Monitoring and Reporting 5.2.1 How timely after a reporting period is a performance report available? Describe

the content and format of performance reports. Please include a sample report. 5.2.2 Do you use your own proprietary investment reporting tools or those supplied

by a vendor?

5.3 Vendor Review and Third Party Fee Benchmarking Process: 5.3.1 How do you determine the competitiveness of a client’s retirement program in

regards to fees and the scope of services being provided by the plan vendors? 5.3.2 Does your firm have experience in conducting vendor evaluations for plans with

$5-$10 million in plan assets? How many vendor evaluations has your team conducted in the past 12 months?

5.3.3 What is your firm’s methodology in conducting a vendor evaluation? How is the evaluation criteria developed?

5.3.4 How many fee benchmarking reviews have you performed in the last five (5) years?

5.3.5 What is your firm’s methodology in conducting a review of third party fees? 5.3.6 Describe your local and national leverage within the retirement plan

marketplace.


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5.4 Participant and Fiduciary Education Program:

5.4.1 Describe your ability to assist CAW in evaluating the overall retirement readiness of our plan participants.

5.4.2 How do you partner with our record keeper(s) in developing and executing an effective employee education strategy?

5.4.3 Will a professional from your organization train our benefits staff? If yes, please describe the training we will receive.

5.5 Fiduciary Assessment of Current Plan(s): 5.5.1 What steps do you take to help us with our fiduciary responsibilities? 5.5.2 How many fiduciary assessments have you performed in the last five (5) years?

5.6 Ongoing Review of Plan Administration:

5.6.1 In what ways can you provide consultative services to our internal Investment Committee to keep them appropriately educated and informed on an ongoing basis?

5.6.2 How will you help CAW identify opportunities to enhance operational efficiency of the retirement plan(s) through plan design and/or administrative outsourcing opportunities? (Enrollment, Hardships, QDRO’s, Loans, Annual Notices, etc.)

5.6.3 Do you provide services to advise/educate clients regarding new developments or laws regarding retirement plans? What resources do you have to assist the organization in complying with same?

5.6.4 Describe your anticipated fiduciary status for your role with our plan under the Employee Retirement Income Security Act of 1974, as amended, with respect to the services you will provide.

5.6.5 Does your agreement acknowledge an ERISA fiduciary status? If yes, please define to what extent and any limitations.

6.0 EVALUATION OF PROPOSALS: SELECTION FACTORS

The criteria set forth below will be used in the receipt of proposals and selection of the successful responder(s). The CAW Review Committee will review and evaluate each proposal and selection will be made on the basis of the criteria listed below. The responders submitting proposals shall include with that proposal statements of the following: A. General and professional reputation -- 20pts B. Professional capability -- 20pts C. Experience and performance on similar projects -- 20pts D. Quality and completeness of proposal -- 5pts E. Contract cost for indicated scope of work -- 30pts F. Experience and performance on previous CAW projects (prior work with CAW is not

required, but will be considered as part of the evaluation of qualifications) -- 5pts

The CAW Review Committee will collectively develop a composite rating which indicates the group’s collective ranking of the highest rated proposals in a descending order. The Committee


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may conduct interviews with only the top ranked responders, usually the top two (2) or three (3) depending upon the number of proposals received. Negotiations shall be conducted with responders so selected. The Committee may request a Best and Final Offer(s) (BAFO) and/or make a recommendation for the Contract award.

7.0 PROPOSAL SUBMISSION FORMAT

Responders are to make written proposals that present the responder’s qualifications and understanding of the work to be performed. Responders shall address each of the specific evaluation criteria listed below, in the following order. Failure to include any of the requested information may be cause for the proposal to be considered nonresponsive and rejected. 1. Minimum qualifications stated in Section 3.0 2. Evaluation Criteria

A. General and professional reputation 1. Provide a brief overview of your firm’s operations, to include years in business, history,

ownership structure, and number of employees. 2. What distinguishes your consulting/advisory services from your competitors? Please

describe any special awards and/or recognition received during the past two (2) years. 3. Within the last five (5) years, has your firm in any capacity been a party to any litigation

directly or indirectly related to the conduct of your business or retirement plans in general?

B. Professional capability 1. Describe your firm’s ability to meet or exceed the requirement contained in Sections 4.0

and 5.0. 2. Is your firm registered as an advisor with the SEC under the Investment Advisor Act of

1940? If so, are you providing all of the disclosures required under those laws (including part two of the form ADV)?

3. Please provide a biography on those responsible for handling our account

C. Experience and performance on similar size projects 1. Provide a list with references of projects of similar size and scope.

D. Experience and performance on previous CAW projects 1. Provide a list of previous projects or affiliations with CAW.

8.0 INSTRUCTIONS FOR SUBMITTING PROPOSALS

8.1 Preparation and Submission of Proposals

A. Before submitting a proposal, read the ENTIRE solicitation including the Contract Terms and Conditions. Failure to read any part of this solicitation will not relieve a responder of the contractual obligations.

B. Pricing must be submitted on RFP pricing form only. Include other information, as requested or required.


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C. All proposals must be submitted to the Purchasing Manager in a sealed container. The face of the sealed container shall indicate the RFP number, time and date of opening and the title of the RFP.

D. All proposals shall be signed in ink by the individual or authorized principals of the firm.

E. All attachments to the RFP requiring execution by the responder are to be returned with the proposal.

F. Proposals must be received by the Purchasing Department prior to 11:00 a.m., CT on June 26, 2015.

G. Proposals may be either mailed or hand delivered to 221 East Capitol Avenue, Little Rock, AR 72202. Faxed or emailed proposals will not be accepted.

H. Each responder shall submit one (1) original and three (3) copies of their proposal to CAW’s Purchasing Manager as indicated on the cover sheet of this RFP.

8.2 Questions and Inquiries

Questions and inquiries, both oral and written, will be accepted from any and all responders. However, when requested, complex oral questions shall be submitted in writing. The Purchasing Department is the sole point of contact for this solicitation unless otherwise instructed herein. Unauthorized contact with other CAW staff regarding the RFP may result in the disqualification of the responder. Inquiries pertaining to the RFP must give the RFP number, time and date of opening and the title of the RFP. Material questions will be answered in writing with an Addendum, provided, however, that all questions are received at least ten (10) days in advance of the proposal opening date. It is the responsibility of all responders to ensure that they have received all Addendums and to include signed copies with their proposal. Addendums can be downloaded from CAW WEBSITE AT: http://www.carkw.com, Procurement/Bids, Purchasing, and then select from the Current Open Bids – Request for Proposals.

8.3 Firm Pricing for CAW Acceptance

Proposal pricing must be firm for CAW acceptance for a minimum of one (1) year from award date.

8.4 Quotations to be F.O.B. Destination-Freight Prepaid and Allowed

Any goods to be delivered to CAW location shall be coordinated with the Purchasing Department prior to delivery. Such goods shall be delivered F.O.B. Destination, freight prepaid, and allowed. COD deliveries shall be denied. The cost of freight, insurance, and all other delivery related costs shall be included in the cost of performing the work proposed in the price proposal.

8.5 Authority to Bind Firm in Contract

Proposals MUST give full firm name and address of responder. Failure to manually sign proposal may disqualify it. Person signing will show TITLE or AUTHORITY TO BIND THE FIRM IN A CONTRACT. Firm name and authorized signature must appear on proposal in the space provided on the pricing page. Those authorized to sign are as follows:

http://www.carkw.com/


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If a sole proprietorship, the owner may sign. If a general partnership, any general partner may sign. If a limited partnership, a general partner must sign. If a limited liability company, a “member” may sign or “manager” must sign if so specified by the articles or organization. If a regular corporation, the CEO, President or Vice-President must sign. Others may be granted authority to sign but CAW requires that a corporate document authorizing him/her to sign be submitted with proposal.

8.6 Withdrawal of Proposals

A. All proposals submitted shall be valid for a minimum period of ninety (90) calendar

days following the date established for acceptance. B. Proposals may be withdrawn on written request from the responder at the address

shown in the solicitation prior to the time of acceptance. C. Negligence on the part of the responder in preparing the proposal confers no right

of withdrawal after the time fixed for the acceptance of the proposals.

8.7 Late Proposals

LATE proposals will be returned to responder UNOPENED, if RFP number, acceptance date and responder’s return address is shown on the container.

8.8 Rights of CAW

CAW reserves the right to accept or reject all or part of any proposal, waive informalities, and award the contract to best serve the interest of CAW. Informality shall mean a minor defect or variation of a proposal from the exact requirements of the Request for Proposal which does not affect the price, quality, quantity, or delivery schedule for the goods, services or construction being procured.

8.9 Proposed Changes to Scope of Services

If there is any deviation from that prescribed in the Scope of Services, the appropriate line in the scope of services shall be rules out and the substitution clearly indicated. CAW reserves the right to accept or reject any proposed change to the scope.

8.10 Miscellaneous Requirements

A. CAW will not be responsible for any expenses incurred by a responder in preparing

and submitting a proposal. All proposals shall provide a straight-forward, concise delineation of the responder’s capabilities to satisfy the requirements of this request. Emphasis should be on completeness and clarity of content.

B. Responder’s who submit a proposal in response to this RFP may be required to make an oral presentation of their proposal. The Purchasing Department will schedule the time and location for this presentation.


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C. Selected contents of the proposal submitted by the successful responder and this RFP will become part of any contract awarded as a result of the Scope of Services contained herein. The successful responder will be expected to sign a contract with CAW.

D. CAW reserves the right to reject any and all proposals received by reason of this request, or to negotiate separately in any manner necessary to serve the best interest of CAW. Responders whose proposals are not accepted will be notified in writing.

8.11 Notice of Award

A Notice of Award will be posted on CAW’s website: http://www.carkw.com, Procurement/Bids, Purchasing, and then select from Bid Results and/or Contractor Documents and Awards for Central Arkansas Water.

8.12 W-9 Form Required

Each responder shall submit a completed W-9 form with their proposal. In the event of contract award, this information is required in order to issue purchase orders and payments to your firm. A copy of this form can be downloaded from http://www.irs.gov/pub/irs-pdf/fw9.pdf.

8.13 Insurance Coverage

Responders shall include with their proposal a copy of their current Certificate of Insurance that illustrates the current level of coverage the responder carries. The Certificate can be a current file copy and does not need to include any “additional insured” language for CAW.

9.0 CONTRACT TERMS AND CONDITIONS

The contract of the successful responder will contain the following Contract Terms and Conditions. Responders taking exception to these terms and conditions or intending to propose additional or alternative language must (a) identify with specificity CAW terms and conditions to which they take exception or seek to amend or replace; and (b) include any additional or different language with their proposal. Failure to both identify with specificity those terms and conditions responder takes exception to or seeks to amend or replace as well as to provide responder’s additional or alternate Contract terms may result in rejection of the proposal. While CAW may accept additional or different language if so provided with the proposal, the Terms and Conditions marked with an asterisk (*) are mandatory and non-negotiable. 9.1 Procedures

The extent and character of the services to be performed by Contractor shall be subject to the general control and approval of the Purchasing Manager or his /her representative(s). Contractor shall not comply with requests and/or orders issued by other than the Purchasing Manager or his/her authorized representative(s) acting within their authority for CAW. Any change to the Contract must be submitted in writing and


http://www.irs.gov/pub/irs-pdf/fw9.pdf


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approved by authorized parties. Any change to the contract will be managed by CAW’s Purchasing Manager.

9.2 Contract Period*

The Contract shall cover the period from August 1, 2015 through July 31, 2016 or an equivalent period depending upon date of Contract award. This Contract may be renewed at the expiration of the initial term at the request of CAW. The renewal may be for up to four (4) additional one (1) year periods. Any renewal shall be based on the same terms and conditions as the initial term with the exception of the price or rates. Initial prices or rates and subsequent renewal prices or rates are guaranteed for a minimum of twelve (12) months. Any increase in prices or rates after the initial term or any renewal term shall be agreed upon by both . Notice of intent to renew will be given to Contractor in writing, normally ninety (90) days before the expiration date of the current term.

9.3 Additions/Deletions

CAW reserves the right to add similar items/services or delete items/services specified in subsequent job orders as requirement change during the term of the Contract. Prices for items/services to be added to the Contract will be mutually agreed to by CAW and Contractor. A contract amendment will be issued for each addition or deletion that is approved.

9.4 Compliance with Laws*

Contractor understands that CAW is an equal opportunity employer and therefore, maintains a policy which prohibits unlawful discrimination based on race, color, creed, sex, age, national origin, physical handicap, disability, genetic information, or any other consideration made unlawful by federal, state, or local laws. All such discrimination is unlawful and Contractor agrees during the term of the Contract that Contractor will strictly adhere to this policy in its employment practices and provision of services. Contractor shall comply with, and all activities under this Contract shall be subject to, all applicable federal, state, and local laws and regulations, as now existing and as may be amended or modified.

9.5 Business, Professional, and Occupational License Requirement

Contractor is required to be licensed in accordance with the required state, local and county agencies.

9.6 Insurance

A. Contractor shall be responsible for its work and every part thereof, and for all

materials, tools, equipment, appliances, and property of any and all description used in connection therewith. Contractor assumes all risk of direct and indirect


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damage or injury to the property or persons used or employed on or in connection with the work contracted for, and of all damage or injury to any person or property wherever located, resulting from any action, omission, commission or operation under the Contract.

B. Contractor and all subcontractors shall, during the continuance of all work under the Contract provide the following:

1. Workers’ Compensation and Employer’s Liability to protect Contractor from any

liability or damages for any injuries (including death and disability) to any and all of its employees, including any and all liability or damage which may arise by virtue of any statute or law in force within the State of Arkansas.

2. Comprehensive General Liability insurance to protect Contractor, and the interest of CAW, its officers, commissioners, employees, and agents against any and all injuries to third parties, including bodily injury and personal injury wherever located, resulting from any action or operation under the Contract or in connection with the contracted work. The General Liability insurance shall also include the Broad Form Property Damage endorsement, in addition to coverage for explosion, collapse, and underground hazards, where required.

3. Automobile Liability insurance, covering all owned, borrowed, leased, or rented vehicles operated by Contractor.

C. Contractor agrees to provide the above referenced policies with the following limits.

Liability insurance limits may be arranged by General Liability and Automobile policies for the full limits required, or by a combination of underlying policies for lesser limits with the remaining limits provided by an Excess or Umbrella Liability policy. 1. Workers’ Compensation:

Coverage A: Statutory Coverage B: $500,000/$500,000/$500,000

2. General Liability:

Per Occurrence: $1,000,000 Personal/Advertising Injury: $1,000,000 General Aggregate: $2,000,000 Products/Completed Operations: $2,000,000 Aggregate Fire Damage Legal Liability $100,000 GL Coverage, excluding Products and Completed Operations, should be on a Per Project Basis

3. Automobile Liability:

Combined Single Limit: $1,000,000


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D. The following provisions shall be agreed to by Contractor:

1. Contractor will provide an original signed Certificate of Insurance and such endorsements as prescribed herein. a. Contractor will provide on request certified copies of all insurance coverage

Certificates of Insurance related to the Contract within ten (10) business days of request by CAW. These certified copies will be sent to CAW from Contractor’s insurance agent or representative.

b. Any Certificate of Insurance provided shall indicate the Contract name and number.

2. No change, cancellation, or non-renewal shall be made in any insurance coverage without a forty-five (45) day written notice to CAW. Contractor shall furnish a new Certificate of Insurance prior to any change or cancellation date. The failure of Contractor to deliver a new and valid Certificate of Insurance will result in suspension of all payments until the new Certificate of Insurance is furnished.

3. Liability Insurance “Claims Made” basis: If the liability insurance purchased by

Contractor has been issued on a “claims made” basis, Contractor must comply with the following additional conditions. The limits of liability and the extensions to be included as described previously in these provisions, remain the same. Contractor must also agree to provide certificates of insurance evidencing the above coverage for a period of two (2) years after final payment for Contractor for General Liability policies. This certificate shall evidence a “retroactive date” no later than the beginning endorsement by means of a certificate of insurance or a copy of the endorsement itself.

4. Contractor must disclose the amount of deductible/self-insured retention

applicable to the General Liability and Automobile Liability. CAW reserves the right to request additional information to determine if Contractor has the financial capacity to meet its obligations under a deductible/self-insured plan. If this provision is utilized, Contractor will be permitted to provide evidence of its ability to fund the deductible/self-insured retention.

5. Contractor agrees to provide insurance issued by companies within the State of

Arkansas, with the Best’s Key Rating of at least A: VII.

6. CAW, its officers and employees shall be endorsed to Contractor’s Automobile and General Liability policies as an “additional insured” with the provision that this coverage “is primary to all other coverage CAW may possess.” (Use “loss payee” where there is an insurable interest). A Certificate of Insurance evidencing the additional insured status must be presented to CAW along with a copy of the Endorsement.


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7. Contractor will provide a waiver of subrogation endorsement in favor of CAW on their Commercial Auto, General Liability and Workers’ Compensation Policies.

8. Compliance by Contractor with the foregoing requirements as to carry insurance

shall not relieve Contractor of their liabilities provisions of the Contract.

E. Precaution shall be exercised at all times for the protection of persons (including employees) and property.

F. If an “ACORD” Insurance Certificate form is used by Contractor’s insurance agent,

the words “endeavor to” and “. . . but failure to mail such notice shall impose no obligation or liability of any kind upon the company” in the “Cancellation” paragraph of the form shall be deleted.

G. Contractor agrees to waive all rights of subrogation against CAW, its officers,

employees, and agents.

9.7 Safety

All Contractors and subcontractors performing services for CAW are required to and shall comply with all Occupational Safety and Health Administration (OSHA), State and County Safety and Occupational Health Standards and any other applicable rules and regulations. Also, all Contractors and subcontractors shall be held responsible for the safety of their employees and any unsafe acts or conditions that may cause injury or damage to any persons or property within and around the work site area under this Contract.

9.8 Ordering, Invoicing and Payment

Contractor shall submit invoices at the end of each calendar month, such statement to include a detailed breakdown of all charges and shall be based on completion of tasks or deliverables and shall include progress reports. Invoices shall be submitted to CAW, Accounts Payable, P. O. Box 1789, Little Rock, AR 72203 or emailed to [email protected]. All such invoices will be paid within forty-five (45) days by CAW unless any items thereon are questioned, in which event payment will be withheld pending verification of the amount claimed and the validity of the claim. Contractor shall provide complete cooperation during any such investigation. Cash discount must be shown on pricing form, otherwise prices will be considered net. Unless prices and all information requested are complete, proposal may be disregarded and given no consideration. CAW’s preferred payment term is 2%N10.

mailto:[email protected]


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Prices quoted shall not include State or Local Sales tax. Invoice billing will be paid at the current tax rate for Little Rock/North Little Rock, Arkansas in accordance with the contract payment schedule.

9.9 Stop Work Order

CAW, may, by written order to Contractor at any time, and without notice to any surety, require Contractor to stop all or any part of the work called for by this Agreement. In such instance, CAW shall not be liable for any payments to Contractor for services subject to the stop work notice beyond those services provided on the day the notice to stop work is delivered to Contractor. Any such order shall be identified specifically as a stop work order issued pursuant to this paragraph. This stop work order shall remain in effect until CAW shall either: (i) cancel the stop work order; or (ii) terminate the work covered by such order as provided in the Termination for Default Clause or the Termination for Convenience Clause for this Agreement, if applicable.

9.10 Termination for Convenience*

a. Termination. CAW may, when the interests of the utility so require, terminate this Contract, in whole or in part, for the convenience of CAW. CAW shall give written notice of the termination to Contractor specifying the part of the Contract terminated and when the termination becomes effective. b. Contractor’s Obligations. Contractor shall incur no further obligations in connection with the terminated work and on the date set in the notice of termination. Contractor will stop work to the extent specified. Contractor must still complete the work not terminated by the notice of termination and may incur obligations as are necessary to do so.

9.11 Termination for Cause a. Cause. In the event of Termination for Cause, the thirty (30) days advance notice is waived and Contractor: At any time 1) Contractor fails to conform to the requirements of the Contract; 2) Contractor seeks relief under any law for benefit of insolvents or is adjudicated bankrupt; 3) any legal proceedings are commenced against Contractor which may interfere with the performance of the Contract or 4) Contractor has failed to supply an adequate working force or has failed in any other respect to prosecute the work with the diligence and force specified and intended in and by the terms of the Contract, which default is not fully corrected or remedied to the reasonable satisfaction of CAW within ten (10) days following the date a written notice thereof by CAW, then CAW shall have the right and power, at its option and without prejudice to any other rights or remedies it may have, to immediately terminate the Contract. Any cost or expense incurred by CAW arising out of Contractor’s breach or default hereunder, and for CAW’s enforcement of these rights, shall be the obligation of Contractor and may, at CAW’ discretion, be deducted from any amounts that may then be owing to Contractor under the Contract, without any release or waiver of any other rights or remedies in law or equity to which CAW may be entitled.


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b. Contractor’s Duties. Notwithstanding termination of the Contract and subject to any direction from CAW, Contractor shall take timely, reasonable, and necessary action to protect and preserve property in the possession of Contractor in which CAW has an interest. c. Compensation. Payment for completed services delivered and accepted by CAW shall be at the contract price. d. Coordination with 6.13. Nothing in Section 6.14 shall limit CAW’s right under 6.13 of this Contract, and nothing in Section 6.14 shall create rights in Contractor or otherwise limit CAW’s ability to terminate this Contract for convenience in accordance with Section 6.13. e. Additional Rights and Remedies. The rights and remedies provided in this clause are in addition to any other rights and remedies provided by law.

9.12 Public Records*

The RFP document and all proposals submitted in response thereto are public records. You are cautioned to not put material into the proposal that is proprietary in nature. All proposals submitted become the property of CAW. (Reference CAW website: www.carkw.com procurement/bids, purchasing, Proprietary Information & Proposals Property of CAW)

9.13 Anti-assignment/subcontracting

Contractor acknowledges that it was selected by CAW to perform the services required hereunder based, in part, upon Contractor’s special skills and expertise. Contractor shall not assign, subcontract, or otherwise transfer its obligations under this Contract, in whole or in part, without the prior written consent of CAW, which CAW may, in its sole discretion, approve or deny without reason. Any attempted assignment or transfer of its obligations without such consent shall be null and void. No such approval by CAW of any subcontract shall be deemed in any way to provide for the incurrence of any obligation of CAW in addition to the compensation agreed upon in this Contract. Subcontracts, if any, shall be subject to the terms and conditions of this Contract and to any conditions of approval that CAW may deem necessary. Subject to the foregoing, this Contract shall be binding upon the respective successors and assigns of the parties.

9.14 Attorneys’ fees and expenses*

Subject to other terms and conditions of this Contract, in the event Contractor defaults in any obligations under this Contract, Contractor shall pay to CAW all costs and expenses (including, without limitation, investigative fees, court costs, and attorney’s fees) incurred by CAW in enforcing this Contract or otherwise reasonably related thereto. Contractor agrees that under no circumstances shall CAW be obligated to pay any attorney’s fees or costs of legal action to Contractor.

9.15 Authority to contract*



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Contractor warrants: (a) that it is a validly organized business with valid authority to enter into this Contract; (b) that it is qualified to do business and in good standing in the State of Arkansas; (c) that entry into and performance under this Contract is not restricted or prohibited by any loan, security, financing, contractual, or other agreement of any kind; and, (d) notwithstanding any other provision of this Contract to the contrary, that there are no existing legal proceedings or prospective legal proceedings, either voluntary or otherwise, which may adversely affect its ability to perform its obligations under this Contract.

9.16 Debarment and suspension*

Contractor certifies to the best of its knowledge and belief, that it:

is not presently debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded from covered transaction by any federal department or any political subdivision of the State of Arkansas;

has not, within a three (3) year period preceding this proposal, been convicted of or had a civil judgment rendered against it for commission of fraud or a criminal offense in connection with obtaining, attempting to obtain, or performing a public (federal, state, or local) transaction or contract under a public transaction;

has not, within a three (3) year period preceding this proposal, been convicted of or had a civil judgment rendered against it for a violation of federal or state antitrust statutes or commission of embezzlement, theft, forgery, bribery, falsification or destruction of records, making false statements, or receiving stolen property;

is not presently indicted for or otherwise criminally or civilly charged by a governmental entity (federal, state or local) with commission of any of these offenses enumerated in paragraphs two (2) and three (3) of this certification; and,

has not, within a three (3) year period preceding this proposal, had one or more public transactions (federal, state, or local) terminated for cause or default.

9.17 Force majeure

Each party shall be excused from performance for any period and to the extent that it is prevented from performing any obligation or service, in whole or in part, as a result of causes beyond the reasonable control and without the fault or negligence of such party. Such acts shall include without limitation acts of God, strikes, lockouts, riots, acts of war, epidemics, governmental regulations superimposed after the fact, fire, earthquakes, floods, or other natural disasters (“force majeure events”). When such a cause arises, Contractor shall notify CAW immediately in writing of the cause of its inability to perform, how it affects its performance, and the anticipated duration of the inability to perform. Delays in delivery or in meeting completion dates due to force majeure events shall automatically extend such dates for a period equal to the duration of the delay


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caused by such events, unless CAW determines it to be in its best interest to terminate the Contract.

9.18 Indemnification*

To the fullest extent allowed by law, Contractor shall indemnify, defend, save and hold harmless, protect, and exonerate CAW, its commissioners, board members, officers, employees, agents, and representatives from and against all claims, demands, liabilities, suits, actions, damages, losses, and costs of every kind and nature whatsoever including, without limitation, court costs, investigative fees and expenses, and attorneys’ fees, arising out of or caused by Contractor and/or its officers, directors, principals, agents, and/or employees in the performance of or failure to perform this Contract. In CAW’s sole discretion, Contractor may be allowed to control the defense of any such claim, suit, etc. In the event Contractor defends said claim, suit, etc., Contractor shall use legal counsel acceptable to CAW. Contractor shall be solely responsible for all costs and/or expenses associated with such defense, and CAW shall be entitled to participate in said defense. Contractor shall not settle any claim, suit, etc., without CAW’s concurrence, which CAW shall not unreasonably withhold.

9.19 Independent Agency status*

Contractor shall, at all times, be regarded as and shall be legally considered an independent contractor and shall at no time act as an agent for CAW. Nothing contained herein shall be deemed or construed by CAW, Contractor, or any third party as creating the relationship of principal and agent, master and servant, partners, joint ventures, employer and employee, or any similar such relationship between CAW and Contractor. Neither the method of computation of fees or other charges, nor any other provision contained herein, nor any acts of CAW or Contractor hereunder creates, or shall be deemed to create a relationship other than the independent relationship CAW and Contractor. Contractor’s personnel shall not be deemed in any way, directly or indirectly, expressly or by implication, to be employees of CAW. Neither Contractor nor its employees shall, under any circumstances, be considered servants, agents, or employees of CAW and CAW shall be at no time legally responsible for any negligence or other wrongdoing by Contractor, its servants, agents, or employees. CAW shall not withhold from the contract payments to Contractor any federal or state unemployment taxes, federal or state income taxes, Social Security tax, or any other amounts for benefits to Contractor. Further, CAW shall not provide to Contractor any insurance coverage or other benefits, including Worker’s Compensation, normally provided by CAW for its employees.

9.20 Modification or renegotiation*

Except as otherwise specifically provided in this Contract, this Contract may be altered, amended, or modified only by a written document executed by CAW and Contractor.

9.21 No limitation of liability


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Nothing in this Contract shall be interpreted as excluding or limiting any tort liability of Contractor for harm caused by the intentional or reckless conduct of Contractor or for damages incurred through the negligent performance of duties by Contractor.

9.22 Ownership of documents and work papers*

CAW shall own all documents, files, reports, work papers and working documentation, electronic or otherwise, created in connection with the provision of services under this Contract, except for Contractor’s internal administrative and quality assurance files and internal correspondence.

9.23 Quality control

Contractor shall institute and maintain throughout the contract period a properly documented quality control program designed to ensure that the services are provided at all times and in all respects in accordance with the Contract. The program shall include providing daily supervision and conducting frequent inspections of Contractor’s staff and ensuring that accurate records are maintained describing the disposition of all complaints. The records so created shall be open to inspection by CAW.

9.24 Record retention and access to records

Provided Contractor is given reasonable advance written notice and such inspection is made during normal business hours of Contractor, CAW or any duly authorized representatives shall have unimpeded, prompt access to any of Contractor’s books, documents, papers, and/or records which are maintained or produced as a result of the services provided hereunder for the purpose of making audits, examinations, excerpts, and transcriptions. All records related to this Contract shall be retained by Contractor for three (3) years after final payment is made under this Contract and all pending matters are closed; however, if any audit, litigation or other action arising out of or related in any way to the services rendered pursuant to this Contract is commenced before the end of the three (3) year period, the records shall be retained for one (1) year after all issues arising out of the action are finally resolved or until the end of the three (3) year period, whichever is later. Contractor acknowledges, accepts and agrees that all Contractor records created as a result of this Agreement may be subject to the Arkansas Freedom of Information Act.

9.25 Recovery of money

Whenever, under the Contract, any sum of money shall be recoverable from or payable by Contractor to CAW, the same amount may be deducted from any sum due to Contractor under the Contract or under any other contract between Contractor and CAW. The rights of CAW are in addition and without prejudice to any other right CAW may have to claim the amount of any loss or damage suffered by CAW on account of the acts or omissions of Contractor.

9.26 Severability


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If any part of this Contract is declared to be invalid or unenforceable, such invalidity or unenforceability shall not affect any other provision of the Contract that can be given effect without the invalid or unenforceable provision, and to this end the provisions hereof are severable. In such event, the parties shall amend the Contract as necessary to reflect the original intent of the parties and to bring any invalid or unenforceable provisions in compliance with applicable law.

9.27 Termination upon bankruptcy

This Contract may be terminated in whole or in part by CAW upon written notice to Contractor, if Contractor should become the subject of bankruptcy or receivership proceedings, whether voluntary or involuntary, or upon the execution by Contractor of an assignment for the benefit of its creditors. In the event of such termination, Contractor shall be entitled to recover just and equitable compensation for satisfactory work performed under this Contract prior to such date.

9.28 Third party action notification

Contractor shall give the customer prompt notice in writing of any action or suit filed, and prompt notice of any claim made against Contractor by any person or entity that may result in litigation related in any way to this Contract.

9.29 Waiver

No delay or omission by either party to this Contract in exercising any right, power, or remedy hereunder or otherwise afforded by contract, at law, or in equity shall constitute an acquiescence therein, impair any other right, power or remedy hereunder or otherwise afforded by any means, or operate as a waiver of such right, power, or remedy. No waiver by either party to this Contract shall be valid unless set forth in writing by the party making said waiver. No waiver of or modification to any term or condition of this Contract will void, waive, or change any other term or condition. No waiver by one party to this Contract of a default by the other party will imply, be construed as or require waiver of future or other defaults.

9.30 Non-Discrimination Policy

Central Arkansas Water shall not discriminate against or in the selection of vendors because of the race, color, creed, religion, sex, national origin, age, disability, veteran’s status, marital status, sexual orientation, gender identity, genetic information, political opinions or affiliation, or any other status protected by law of the vendor’s owners or personnel. By submission of a response to the RFP, you agree that you shall not discriminate in your employment practices or your provision of goods or services to others on the basis of race, color, creed, religion, sex, national origin, age, disability, veteran’s status, marital status, sexual orientation, gender identity, genetic information, political opinions or affiliation.


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9.31 Applicable Law*

This contract shall be governed by and construed in accordance with the laws of the State of Arkansas, excluding its conflicts of law’s provisions, and any litigation with respect thereto shall be brought in the courts of the State of Arkansas located in Pulaski County, Arkansas. Contractor hereby irrevocably consents to the personal jurisdiction of the Circuit Court of Pulaski County, Arkansas upon and over Contractor.

9.32 Applicability of Freedom of Information Act*

Contractor acknowledges that CAW is subject to the requirements of the Arkansas Freedom of Information Act (the “FOIA”) and to the extent Contractor performs work for CAW, Contractor may also be subject to requirements of the FOIA. Therefore, each party shall assist and cooperate with the other (at their own expense) to enable the other party to comply with any applicable information disclosure obligations under the FOIA. Whenever a party receives a request for information under the FOIA in relation to the Contract or information which it is holding on behalf of the other party, it shall (and shall procure that its sub-contractors shall):

i. transfer the request for information to the other party as soon as practicable

after receipt and in any event within one (1) working day of receiving the request for information;

ii. provide the other party with a copy of all information in its possession or power

in the form that the other party requires within two (2) working days (or such other period as the other party may specify) of the other party requesting that information; and

iii. provide all necessary assistance as reasonably requested by the other party to

enable the other party to respond to the request for information within the relevant time for compliance as set out in the FOIA.

Each party shall be responsible for determining at its absolute discretion whether:

i. the information is exempt from disclosure under the FOIA; or

ii. the information is to be disclosed in response to a request for information.


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____________________________________________ 10.0 PROPOSAL SUBMISSION FORMS Retirement Plan Fiduciary THE FIRM OF:___________________________________________________________________ Address:______________________________________________________________________ ______________________________________________________________________________ FEIN#_____________________________________ Hereby agree to provide the requested services as defined in Request for Proposal No. 15-16 for the

total contract price of:_____________________________________________________________

Person to contact regarding this proposal:_________________________________________ Title:________________________________Phone:_________________Fax:_____________ Name of personal authorized to bind the Firm (9.7):_________________________________ Signature:_____________________________________Date:_________________________ By signing and submitting a proposal, your firm acknowledges and agrees that is has read and understands the RFP

documents

Purchasing Department 221 East Capitol Avenue Little Rock, AR 72202

REQUEST FOR PROPOSAL RFP 15-16 RETIREMENT PLAN · PDF fileRetirement Plan Fiduciary Central...

Documents

Transcript of REQUEST FOR PROPOSAL RFP 15-16 RETIREMENT PLAN · PDF fileRetirement Plan Fiduciary Central...