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					                                      MUSCOGEE COUNTY SCHOOL DISTRICT

                                        REQUEST FOR PROPOSALS #050428-2

                                                           FOR

                                         403(b) AND 457 RETIREMENT PLANS


                        PROPOSALS MUST BE PHYSICALLY RECEIVED IN THE OFFICE OF:

                                     MR. JAMES ASKEW, CPPO, CPPB, GCPA
                               DIRECTOR OF PURCHASING & SUPPLY MANAGEMENT
                                     MUSCOGEE COUNTY SCHOOL DISTRICT
                                5661 LORENZO ROAD, COLUMBUS, GEORGIA 31904

                            NO LATER THAN 2:00 P.M., EDT, ON MONDAY, MAY 16, 2005


 Proposals may be delivered to:         Mr. James Askew, CPPO, CPPB, GCPA
                                        Director of Purchasing & Supply Management
                                        Muscogee County School District
                                        5661 Lorenzo Road
                                        Columbus, Georgia 31904

                    or mailed to:       Mr. James Askew, CPPO, CPPB, GCPA
                                        Director of Purchasing & Supply Management
                                        Muscogee County School District
                                        P. O. Box 2427
                                        Columbus, Georgia 31902-2427

Please note that the MCSD collects mail from the Post Office once each business day. Mailed proposals not received in
the Purchasing Department and stamped in by a member of the Purchasing staff before 2:00 p.m., EDT, on May 16, 2005
will not be considered, regardless of postmark. NO EXCEPTION TO THE DEADLINE FOR RECEIVING PROPOSALS
WILL BE MADE ON ACCOUNT OF LATE DELIVERY BY THE POST OFFICE OR ANY DELIVERY SERVICE.

Vendors must ensure that their bid arrives by the time indicated. If your bid is sent to (or routed to) another address or
office, even though it may be in the Muscogee County School District, this requirement has not been met and any such
bids will be disqualified from consideration.

Bids MUST be properly received by a member of the Purchasing staff and stamped with the date received. Your bid will
not be considered unless properly received.

Proposals that do not conform to the instructions, conditions, and requirements contained in this Request for Proposals
will not be considered.

Census data and this Request for Proposals are available on the MCSD website at www.mcsdga.net. Click on “Bids and
RFPs” on the left of the page. On the resulting page click on “Invitation to Bid (ITB)/Request for Proposal (RFP) –
Purchasing”. Scroll down and click on “RFP #050428-2”. For census data click on “Long Term Care Census”.

Direct all questions and requests for additional information in writing (not by telephone, please) to Thomas M. Flowers,
RHU at tom@flainsure.com or to Michael N. Herndon at Michael@flainsure.com or to either of them at fax number 706-
324-1155.



                                                        Page 1 of 17
                                                        REQUEST FOR PROPOSAL (RFP) #050428-2                                                                   April 28, 2005
                                                            403(b)/457 RETIREMENT PLANS




                                                                           CONTENTS




Section A.   Proposal Information, Instructions, and Conditions ........................................................................................... 3
Section B.   Plan Administration ............................................................................................................................................ 5
Section C.   Plan Provisions .................................................................................................................................................. 6
Section D.   Proposal Forms .................................................................................................................................................. 6




                                                                             Page 2 of 17                                                                                      2
                                         REQUEST FOR PROPOSAL (RFP) #050428-2                                 April 28, 2005
                                             403(b)/457 RETIREMENT PLANS
                                                    SPECIFICATIONS




Section A.   Proposal Information, Instructions, and Conditions

 1. The Muscogee County School District (MCSD) invites sealed proposals to provide voluntary retirement benefit
    plans for eligible employees under the provisions of Section 403(b) and Section 457 of the Internal Revenue Code.
    The MCSD will select three providers to offer 403(b) and 457 plans. Approximately 5,860 employees are presently
    located throughout 56 schools and six separate educational centers and administrative/support facilities in
    Muscogee County, plus nine libraries in five contiguous counties.

 2. Approximately 1,000 employees are members of the State of Georgia’s Public School Employees Retirement
    System (PSERS) by law. Members of PSERS are eligible to participate in the MCSD’s supplemental 403(b)
    retirement plan, which is not involved in this RFP. It is the policy of the MCSD that employees may participate in
    only one 403(b) plan through the MCSD. Therefore, the approximately 265 PSERS members who are participants
    in the supplemental retirement plan will not be eligible to participate in a 403(b) plan which is the subject of this
    RFP. The remaining 735 (approximately) PSERS members who do not participate in the supplemental retirement
    plan will be eligible to participate in a 403(b) plan covered by this RFP. All employees, regardless of PSERS
    membership, will be eligible to participate in one of the 457 plans covered by this RFP.

 3. The plan effective date is January 1, 2006. It is anticipated that contracts will be awarded in June 2005 and that
    open enrollment will be completed no later than the following November on a schedule established by the MCSD.
    The MCSD intends for these programs to be ongoing, but reserves the right to terminate, modify, or seek
    competitive proposals at any time. All proposals must include a rate/expense guarantee of at least one year (longer
    guarantee periods will be given favorable consideration) and a commitment to provide 90 days’ written notice of any
    change in rate/expense.

 4. Address sealed proposals, clearly marked “RETIREMENT PLAN PROPOSAL” to:
     Hand delivery or delivery service                           U. S. Postal Service
     Mr. James H. Askew, CPPO, CPPB, GCPA                        Mr. James H. Askew, CPPO, CPPB, GCPA
     Director of Purchasing & Supply Management                  Director of Purchasing & Supply Management
     Muscogee County School District                             Muscogee County School District
     5661 Lorenzo Road                                           P. O. Box 2427
     Columbus, GA 31904                                          Columbus, GA 31902-2427

 5. The original and two copies of each proposal must be physically received by the MCSD no later than 2:00 p.m.,
    EDT, on Monday, May 16, 2005, at the MCSD Purchasing Office, 5661 Lorenzo Road, Columbus, Georgia 31904.
    No exception will be made and late proposals will be returned or discarded unopened. Please note that the MCSD
    collects mail from the Post Office once each business day. Mailed proposals not received in the
    Purchasing Department and stamped in by a member of the Purchasing staff before 2:00 p.m., EDT, on May
    16, 2005 will not be considered, regardless of postmark. The choice of delivery method is at the proposer’s risk,
    and no extension will be allowed on account of late delivery by the U. S. Postal Service or any delivery service,
    regardless of postmark or receipt date. Receipt of proposals will close at 2:00 p.m., EDT, Monday, May 16, 2005,
    at which time eligible proposals will be opened and recorded. Proposers are invited to be present. Identities of
    parties submitting proposals will be public information after opening. Proposal particulars will be public information
    only after the Muscogee County Board of Education’s award of a contract pursuant to this Request for Proposals.

 6. Plan specifications and descriptions are included in this package. Information provided by the MCSD and its
    consultants in connection with this Request for Proposals is believed to be accurate; however, no warranty as to
    accuracy is made.

 7. Finalists will be notified by June 3, 2005 and will be requested to make presentations on June 9, 2005. It is
    expected that selections will be made by the MCSD Board on June 20, 2005.

 8. All forms contained in Section D of this Request for Proposals must be completed. Failure to do so will disqualify a
    proposal.

                                                       Page 3 of 17
                                         REQUEST FOR PROPOSAL (RFP) #050428-2                                  April 28, 2005
                                             403(b)/457 RETIREMENT PLANS
                                                    SPECIFICATIONS



Section A.   Proposal Information, Instructions, and Conditions (continued)

 9. Multiple proposals from the same party will be accepted. Proposers may seek quotes from any carriers or providers
    licensed in the state of Georgia. Current ratings by the major rating agencies must be disclosed on the form
    provided in this Request for Proposals. No Agent of Record or Producer of Record letters will be provided by the
    MCSD.

10. Individuals responsible for the design, implementation, and ongoing operation of proposed plans are requested to
    be available for interviews if desired by the MCSD.

11. Proposals must disclose the amount of all charges (rates, commissions, fees [including 412b-1] operating expense
    ratios, etc.) identified separately by type.

12. Proposals submitted on a direct basis will be accepted and considered.

13. Specimen policies, contracts, and administrative forms should accompany each proposal.

14. The following criteria will be used to evaluate proposals:

            Overall quality, clarity and responsiveness to the Request for Proposals, including completion of the
             questionnaire and all other required forms.
            Qualifications, ratings, stability, reputation, and experience of providers.
            Customer service.
            Net investment returns.
            Net costs to the MCSD and its employees.
            Ease of administration and lack of demand upon MCSD staff.
            Efficiency of placing compatible plans with the same provider.
            Rate and expense guarantees.
            Proven ability to provide administration promptly and accurately.
            Additional or optional benefits offered.

15. The MCSD reserves the right to accept, reject, or negotiate, in whole or in part, any or all proposals, to waive
    formalities, technicalities, and irregularities, and to award contracts as it deems to be in its best interests. In the
    event that comparable proposals are received, the MCSD will select the one it deems to be in its best interests in its
    sole discretion.

16. By offering a proposal in response to this Request for Proposals, each proposer accepts and agrees to be bound by
    the terms and conditions of this Request for Proposals.

17. The MCSD has retained FLOWERS & HERNDON as consultants for this project. Direct all questions in writing to:
    Thomas M. Flowers, RHU (tom@flainsure.com) or Michael N. Herndon (michael@flainsure.com) or to either of
    them at fax number 706-324-1155.

18. Muscogee County School District has four payroll types paid each month. Generally, there are six payrolls made in
    one month. There are two monthly payrolls and two of each biweekly payroll. The biweekly payrolls are paid on
    opposite weeks:

       a. M-1 – This personnel type is paid once a month, on the last working day of the month. This payroll generally
          covers certified staff, administrators and clerical personnel.

       b. M-2 – This personnel type is paid once a month, on the eighth of the month. This payroll is for substitute
          teachers.



                                                       Page 4 of 17                                                        4
                                         REQUEST FOR PROPOSAL (RFP) #050428-2                                  April 28, 2005
                                             403(b)/457 RETIREMENT PLANS
                                                    SPECIFICATIONS



       c. B-1 – This payroll is designated for the payment of plant service (maintenance) and custodial personnel. The
          members of this payroll type are paid once every two weeks on Friday

Section A.   Proposal Information, Instructions, and Conditions (continued)

       d. B-2 – This payroll is designated for the payment of school nutrition personnel with the exception of managers
          and assistant managers who are paid as administrators on the M-1 payroll. The members of this payroll type
          are paid once every two weeks on Friday.

19. As of January 2005 we have thirty-five B-1, seven B-2 and 1,005 M-1 employees contributing to a 403-B plan. We
    have 1 M-1 employee who contributes to a 457 plan. The total dollars sent the last four calendar years are:

                                        2001                          $2,885,486.77
                                        2002                          $2,899,455.43
                                        2003                          $3,142,265.13
                                        2004                          $3,171,020.14

     For example, the March 2005 payroll included:

                         Payroll Type                   Number                  Total Gross Pay

                             M-1                          4,284                  $14,046,210.70
                             M-2                            397                     $244,254.72
                             B-1                            793                     $844,837.50
                             B-2                            386                     $366,153.20

20. MCSD Board policy BHA states:

     The Board shall not do business with a partnership or corporation partially owned by a member.

     A Board member shall not sell insurance to the Board.

     The Board may not do business with a bank or financial institution where a Board member is an employee, stock
     holder, director or officer when such member owns 30 percent of more stock in the institution.

     Please disclose any relationship your company has with a board member or employee of the District that may imply
     a conflict of interest.

Section B.     Plan Administration

 1. Enrollment, including providing plan information to employees, is the responsibility of the agent/carrier/provider and
    will be conducted initially on a schedule provided by the MCSD during September, October, and November of 2005.
    Currently, MCSD allow employees to enroll, change or drop their 403-B/457 contributions at any time. Each
    proposal must specify enrollment restrictions, such as frequency. Each proposal must describe on-line enrollment
    capability in detail.

 2. Fees and expenses must be identified separately by type, method of calculation, and assessment frequency.

 3. Applications and claims for benefits will be filed by the employee directly with the provider, without any intervention
    by MCSD staff.


                                                       Page 5 of 17                                                        5
                                          REQUEST FOR PROPOSAL (RFP) #050428-2                              April 28, 2005
                                              403(b)/457 RETIREMENT PLANS
                                                     SPECIFICATIONS



 4. Providers will provide all government reports in signature-ready form and will prepare and file Forms W-2, 941,
    1099R, and all other required forms as needed on a timely basis.

Section B.     Plan Administration (continued)

 5. All proposals must specify in detail how plan administration can be carried out electronically.

Section C.     Plan Provisions

 1. There will be no employer contributions.

 2. Participation is limited to one 403(b) program and one 457 program for each eligible employee.

 3. The MCSD currently allows a number of providers to offer retirement plans under Section 403(b). Plan provisions
    vary among these plans. While uniformity of plan provisions is not a requirement in reducing the number of 403(b)
    and 457 plan vendors to three, it is necessary that proposals provide a complete description of proposed plan
    provisions, including sample summary plan descriptions.

 4. Hardship withdrawals and loans will be permitted, but possibly not in both the 403(b) and 457 plans due to loan and
    hardship monitoring issues. Please refer to items B9 and B10 of the Questionnaire. Please include in your
    proposal your recommendations for maximum loan number and minimum loan amount.

 5. Rollovers from qualified plans will be permitted.

 6. Eligibility: 18 years of age and 90 days of service as of the effective date.

 7. Normal retirement age is 65.

 8. Early retirement age is 55 with 5 years of service.

 9. Deferral changes and investment changes will be allowed at any time at no charge online or by toll-free telephone.

Section D.   Proposal Forms

 1. For each proposal please complete one PROPOSAL COVER PAGE, including the signature of an authorized
    individual of the agent or broker presenting the proposal or, in the case of direct proposals, of the provider
    presenting the proposal.

 2. For each proposal please complete all forms relative to the plan being proposed with specificity. General answers
    such as “See policy/contract” will be considered unresponsive and may disqualify the proposal.

 3. All proposals must be accompanied by the completed INSURANCE CARRIER/PROVIDER STATEMENT signed by
    an authorized agent of each proposing carrier/provider.

 4. All proposals must be accompanied by the notarized NON-COLLUSION AFFIDAVIT signed by an authorized agent
    of each proposing carrier/provider and each agent and broker presenting the proposal.

 5. All proposals must be accompanied by the STATEMENT OF ASSURANCE regarding the Muscogee County Board
    of Education’s Equal Opportunity Policy signed by an authorized agent of each proposing carrier/provider and each
    agent and broker presenting the proposal.

 6. Please complete the QUESTIONNAIRE for each plan proposal. If additional space is needed to answer fully,
    attach separate sheets with the question identified by number.

                                                          Page 6 of 17                                                   6
                                      REQUEST FOR PROPOSAL (RFP) #050428-2                 April 28, 2005
                                          403(b)/457 RETIREMENT PLANS




                                              PROPOSAL COVER PAGE

                                                      FOR

                                     403(b) AND 457 RETIREMENT PLANS

                                 DUE 2:00 P.M., EDT, MONDAY, MAY 16, 2005



Agent/broker/provider name:   _______________________________________________________________________
(Circle one)

Address:                      _______________________________________________________________________

                              _______________________________________________________________________

                              _______________________________________________________________________

                              _______________________________________________________________________

Authorized signature:         _______________________________________________________________________

Typed or printed name:        _______________________________________________________________________

Typed or printed title:       _______________________________________________________________________

Telephone:                       Facsimile:                        Email:

Indicate plans for which proposals are enclosed:
            Section 403(b)
            Section 457




                                                   Page 7 of 17                                        7
                                          REQUEST FOR PROPOSAL (RFP) #050428-2                                  April 28, 2005
                                              403(b)/457 RETIREMENT PLANS




                                       MUSCOGEE COUNTY SCHOOL DISTRICT

                                   INSURANCE CARRIER/PROVIDER STATEMENT

                        (TO BE COMPLETED BY EACH PROPOSED PROVIDER OF BENEFITS)

                                                           FOR

                                         403(b) AND 457 RETIREMENT PLANS

                                     DUE 2:00 P.M., EDT, MONDAY, MAY 16, 2005



  1. I hereby certify that                                                                        (carrier/provider) did
     not provide rates/fees or commit to provide rates/fees to any party with respect to this Request for Proposals until
     receiving proposal specifications after 2:00 p.m., EDT, Thursday April 28, 2005.

  2. The most recent ratings for this provider are as follows:
                                     Rating Agency                                 Rating              Date of Rating
          a.
          b.
          c.
          d.
          e.

  3. Has any restraining or disciplinary action been taken against this provider by any regulatory agency within the past
     three years?                       If so, provide details.

  4. Is this provider licensed to do business in the state of Georgia?

  5. Please provide three references for other school districts, public entities, or groups of similar size, including group
     name, contact person, address, telephone number, effective date, type of plan, and number of participants. Also
     provide the same information for three accounts terminated within the past five years, along with the termination
     date.



Signature of authorized officer:                                                            Date:

Typed or printed name: _______________________________________                Title: _______________________________




                                                        Page 8 of 17                                                        8
                                            REQUEST FOR PROPOSAL (RFP) #050428-2                                 April 28, 2005
                                                403(b)/457 RETIREMENT PLANS




                                        MUSCOGEE COUNTY SCHOOL DISTRICT

                                               REQUEST FOR PROPOSALS

                                           403(b) AND 457 RETIREMENT PLANS

                                               NON-COLLUSION AFFIDAVIT



In accordance with the Laws of Georgia, all vendors submitting sealed bids/proposals are required to submit the
following affidavit.

Carriers/providers, agents, and brokers complete the affidavit below, have it notarized and return with this
proposal.


State of

County of


Before me, an officer of said state, authorized by law to administer oaths, personally came the undersigned affiant, who
on oath says that the attached bid/proposal is offered without prior understanding, agreement, or connection with any
corporation, firm, or person submitting a bid/proposal for the same materials, supplies, equipment, or services, and is in all
respects fair and without collusion or fraud. The affiant understands collusive bidding is a violation of state and federal
law and can result in fines, prison sentences, and civil damage awards. The affiant agrees to abide by all conditions of
this bid/proposal and certifies that he/she is authorized to sign this bid/proposal for the bidder/proposer.




                              Affiant

Sworn to and subscribed before me on this

The              day of                    , 2005.




                           Notary Public

Failure to properly execute the above affidavit must be considered grounds for rejecting this bid.




                                                          Page 9 of 17                                                       9
                                            REQUEST FOR PROPOSAL (RFP) #050428-2                                     April 28, 2005
                                                403(b)/457 RETIREMENT PLANS




                                         MUSCOGEE COUNTY SCHOOL DISTRICT

                                              EQUAL OPPORTUNITY POLICY

                                                               for

                          COMPETITIVELY BID PURCHASES — INCLUDING CONSTRUCTION

                        Approved by the Muscogee County Board of Education March 22, 1995



It is the policy of the Muscogee County Board of Education to promote and insure equal opportunity for all persons,

without regard to their race, color, religion, sex, handicap, or national origin employed by or seeking employment with

vendors and/or contractors doing business with the Board. As a condition of doing business with the Board each vendor

and/or contractor shall furnish as assurance that its business will be operated in accordance with the policy.



The following equal opportunity clause shall be deemed incorporated into every contract and agreement between the

Board and any of its vendors and/or contractors.



The vendor/contractor will not discriminate against any employee or applicant for employment because of race,

color, religion, sex, handicap, or national origin. The vendor/contractor shall take appropriate action to ensure

that applicants are employed, and that employees are treated during employment without regard to their race,

color, religion, sex, handicap, or national origin. Such action shall include, but shall not be limited to the following:

employment, upgrading, demotion, transfer, recruitment, layoff, termination, rates of pay or other forms of

compensation and training.



In the event of the vendor/contractor’s noncompliance with the nondiscrimination policy of the Board, any contract

or purchase order may be canceled, terminated, or suspended in whole or in part and the vendor/contractor may

be declared ineligible to transact further business with the Board.

All vendors and persons desiring to transact business with the Board are to provide written assurance that their

businesses will be conducted in accordance with this non-discrimination policy and that such vendors and or contractors

agree to and shall abide by the equal opportunity clause set forth in this policy.


                                                          Page 10 of 17
                                           REQUEST FOR PROPOSAL (RFP) #050428-2                                 April 28, 2005
                                               403(b)/457 RETIREMENT PLANS
                                               EQUAL OPPORTUNITY POLICY




It is the further policy of the Board to insure equal opportunity for minority owned businesses and minority professionals

with regard to all work, services, and supplies purchased by the Board and all construction projects undertaken by the

Board which are competitively bid by the Board.



To ensure this equal opportunity, the Assistant Superintendent for Business Affairs shall serve as the Minority Business

Enterprise (MBE) liaison officer. His/her duties shall include the following:



         a.    Manage, administer, and implement this Policy to insure that the Board identifies qualified minority

               businesses and professionals in the purchase of work, goods, and services.

         b.    Coordinate efforts under this Policy with the Small Business Development Center and Minority Business

               Development Center.

         c.    Disseminate information on available construction projects so as to provide Minority Businesses an equal

               opportunity to bid on School Board projects.

         d.    Attend, or designate a representative to attend, all pre-bid and pre-construction conferences to explain this

               MBE policy.

         e.    Compile a directory of all minority-owned businesses and consultants which offer goods and services which

               are competitively bid and purchased by the Board to insure that such businesses and consultants are

               notified of School Board requirements for goods and services within the scope of their business or

               profession, and are given an equal opportunity to submit bids or proposals.

          f.   Maintain accurate, up-to-date records demonstrating MBE efforts and accomplishments.



The Muscogee County Board of Education in Board Policy DJED, “Bids and Quotations”, and in Board Policy DJEE,

“Local Purchasing”, sets forth in detail the circumstances under which it will give preferences to local bidders and

businesses, policies which are reaffirmed and incorporated within the terms and conditions of this policy.




                                                         Page 11 of 17                                                    11
                                           REQUEST FOR PROPOSAL (RFP) #050428-2                                  April 28, 2005
                                               403(b)/457 RETIREMENT PLANS
                                               EQUAL OPPORTUNITY POLICY




                                              CONSTRUCTION CONTRACTS



On construction contracts, competitively bid by the Board of Education, contractors and subcontractors, consistent with

the efficient performance of the contract, shall utilize to the maximum extent possible local laborers and mechanics,

including minorities, as on-site employees.     As well all such contracts as subcontracts, consistent with the efficient

performance of the contract shall solicit and encourage bids from qualified minority owned businesses.



Prior to making a recommendation to the Board of Education on the awarding of a construction contract to the apparent

low bidder, the Assistant Superintendent for Business Affairs shall ascertain the efforts of the apparent low bidder to

comply with this policy and report such efforts to the Board for its consideration of the apparent low bidder.




LEGAL REF:               Executive Orders 10925; 11245; 121086

                         Civil Rights Act of 1984; 42 U.S.C.A. 2000(c)




                                                         Page 12 of 17                                                     12
                                        REQUEST FOR PROPOSAL (RFP) #050428-2                              April 28, 2005
                                            403(b)/457 RETIREMENT PLANS




                                     MUSCOGEE COUNTY SCHOOL DISTRICT



                                        COMPETITIVELY BID CONTRACTS



                                                  POLICY DJED-E



                                           STATEMENT OF ASSURANCE

                     (TO BE COMPLETED BY CARRIERS/PROVIDERS, AGENTS, AND BROKERS)



       The Undersigned Vendor/Contractor provides this Statement of Assurance to the Muscogee County School

District wherein the Undersigned acknowledges receipt and awareness of the above-captioned policy and agrees to

observe and be bound by all applicable provisions contained therein.     The Undersigned submits this Statement of

Assurance, understanding that a failure to submit said Statement of Assurance may constitute a basis for rejecting the

Undersigned’s bid.




       This the _______________ day of _________________________________, 2004.




                                                        ___________________________________________________
                                                                          Vendor/Contractor




                                                     Page 13 of 17
                                       REQUEST FOR PROPOSAL (RFP) #050428-2                                 April 28, 2005
                                           403(b)/457 RETIREMENT PLANS




                                   MUSCOGEE COUNTY SCHOOL DISTRICT

                         QUESTIONNAIRE FOR 403(b) AND 457 RETIREMENT PLANS

                         (TO BE COMPLETED FOR EACH PROPOSAL FOR THIS PLAN)

                                  DUE 2:00 P.M., EDT, MONDAY, MAY 16, 2005

A. General Information

   1. Describe the organizational structure of your company including any relationship with a parent, subsidiary or
      affiliated company and relationships to all other entities involved in your proposal.

   2. What were your company’s total assets as of December 31, 2004?

   3. Please provide the name, title, and contact information for the primary contact for your proposal.

   4. Please provide the name, title, and contact information for the individuals responsible for plan implementation,
      as well as a description of their training and experience in 403(b) and 457 plans.

   5. Please provide the name, title, and contact information for the individuals responsible for ongoing plan
      administration, as well as a description of their training and experience in 403(b) and 457 plans.

   6. How long has your company been administering 403(b) plans? 457 plans?

   7. What percentage of your business is derived from 403(b) and 457 plans?

   8. How many educational institutions use your services? Please discuss your client retention for the past three
      years.

   9. How many 403(b) and 457 plans do you currently have in place?

  10. What is the average rate of participation among eligible employees in your current 403(b)/457 plans with no
      employer contribution?

  11. Please provide following:
         a) The average number of participants in plans you service.
         b) The largest number of participants in a plan you service.
         c) The smallest number of participants in a plan you service.

  12. Will you require a minimum number of participants to maintain a program for the MCSD?

  13. Do you require a minimum employee contribution?

  14. Please provide your most recent ratings for each of the following:
         a)   A.M. Best
         b)   Moody’s
         c)   Standard & Poor’s
         d)   Duff & Phelps

  15. Please provide references and contact information for at least three public sector (preferably Georgia school
      districts or county governments) implementations of 403(b)/457 retirement programs.



                                                    Page 14 of 17
                                         REQUEST FOR PROPOSAL (RFP) #050428-2                            April 28, 2005
                                             403(b)/457 RETIREMENT PLANS
                                                     QUESTIONAIRE



A. General Information (continued)

  16. Please specify all assumptions on which your proposal is based.

B. Recordkeeping and Administrative Services

   1. Please identify and describe all entities performing services for your plans.

   2. Describe your systems and software programs, including whether owned or leased and the most recent and
      planned future updates.

   3. Please describe your quality control, security, and disaster recovery procedures.

   4. What type of plan documentation will you provide for the MCSD? Do you provide summary plan descriptions?
      Please provide samples.

   5. What are acceptable data and contribution remittance media?

   6. How quickly are contributions credited to participant accounts?

   7. How frequently and by what method are accounts valued?

   8. Describe your procedures for processing loans, hardship withdrawals, terminations, disability and death. Are
      there any extra fees associated with these processes?

   9. Describe your procedures to prevent hardship withdrawals from multiple plans in excess of the amount needed
      to relieve the hardship.

  10. Describe your procedures to prevent loans from multiple plans that in the aggregate exceed the IRC Section
      72(p) limits.

  11. Please specify the frequency and distribution method of participant benefit statements. Can the statements be
      customized to the MCSD’s specifications? Please provide samples. Are there any extra fees associated with
      benefit statements?

  12. What type of employer/management reports do you provide? How often? By what media? Can the reports be
      customized to the MCSD’s specifications? Are there any extra fees associated with these reports? Please
      provide samples.

  13. Does your company perform the following? Please indicate additional fees if applicable:
         a)    Audit asset transactions each valuation period
         b)    Balance payroll calculations to actual deposits
         c)    Monitor 402(g) deferral limit for each participant
         d)    Monitor IRC Section 415 limits
         e)    All required nondiscrimination tests and calculate the fix
          f)   Guaranteed Maximum Exclusion Allowance calculations.
         g)    Prepare tax forms (1099 and W2-P)
         h)    Complete government reports and related schedules

  14. What process do you recommend to the MCSD in reducing the active number of 403(b) plans to three?

  15. Describe your process for monitoring plan administration.



                                                      Page 15 of 17                                                  15
                                        REQUEST FOR PROPOSAL (RFP) #050428-2                                  April 28, 2005
                                            403(b)/457 RETIREMENT PLANS
                                                    QUESTIONAIRE




C. Funding Vehicles

   1. Please specify the product name and type and the investment options available.

   2. Explain any requirements regarding participation in a minimum number of proprietary funds.

   3. Specify any minimum initial or periodic deposit.

   4. Indicate any partial withdrawal, surrender or termination charges that may apply to an individual participant
      account.

   5. If your contract has such charges, will your company waive the withdrawal penalties in the event of death,
      annuitization, financial emergency, periodic payout of a certain length, or participant retirement under a qualified
      retirement option?

   6. Describe the procedures for plan termination or transfer to a successor plan including any fees or charges that
      may apply.

   7. How frequently are changes allowed in participant contribution amounts and in the allocation of future
      contributions? Specify any associated charges or fees.

   8. Describe restrictions on transfers between investment accounts, including charges or fees.

   9. What options are available to participants upon termination?

D. Fixed Annuities

   1. Describe each fixed annuity product.

   2. How long has the fixed annuity product been available?

   3. How is the annuity amount determined? What mortality/interest rate assumptions are used?

   4. Is there a different interest rate used if the participant does not elect an annuity payout?

   5. What guarantees apply to the principal and interest under the fixed annuity?

   6. What is the current net rate of interest being credited to new deposits? How often does this rate change?

   7. What is the guaranteed interest rate? How often does this rate change?

   8. Are dividends granted if investment performance exceeds the stated interest rate?

   9. Please provide a 10-year interest rate history.

  10. Please provide the interest crediting policy, including the method and frequency of interest crediting and
      compounding.

  11. Please specify any contractual guarantees that are made with respect to the fixed annuity and the number of
      years that they apply.




                                                      Page 16 of 17                                                     16
                                       REQUEST FOR PROPOSAL (RFP) #050428-2                                  April 28, 2005
                                           403(b)/457 RETIREMENT PLANS
                                                   QUESTIONAIRE




E. Variable Products

 1. Please describe each investment option, including Morningstar category, risk/return analysis, investment
    philosophy and objectives.

   2. Please provide historical investment performance data NET OF ALL FEES AND CHARGES for the most recent
      calendar quarter and for one, three, five, and ten years and since inception compared to the customary indices
      for each investment option.

   3. How long has the variable product been available?

   4. What are the current and guaranteed rates for the fixed option within the variable product?

   5. Describe the investment management of each option, including a summary of each investment manager’s
      qualifications.

   6. Describe your due diligence process with respect to selection and retention of investment funds.

   7. Please identify and describe all charges or fees that will be deducted from contributions or account balances or
      which are reflected in investment performance.

F. Enrollment and Communications

   1. Please describe your plan for communications and enrollment throughout the 71 separate MCSD facilities
      described on page 2 in Section A, Paragraph 1.

   2. Who will be responsible for conducting the enrollment meetings? Please provide a summary of qualifications
      for each individual.

   3. Please describe the enrollment process based on a June 20, 2005 provider selection date and an enrollment
      period that can begin September 1, 2005.

   4. Please provide a detailed timeline for implementing the plans.

   5. Please describe toll-free telephone and internet access and functions available to participants, including
      associated fees.

   6. Specify all items of support, activity, and involvement of MCSD staff in the initial and ongoing enrollment
      process.

   7. Please describe your process for initial and continuing communications to employees, including those who are
      vision- or hearing-impaired, and the availability of one-on-one meetings with employees. Please describe your
      multi-lingual capabilities. Please provide samples of communications materials.




                                                     Page 17 of 17                                                     17
nt ernet access and functions available to participants, including
          associated fees.

       6. Specify all items of support, activity, and involvement of MCS D staff in the initial and ongoing enrollment
          process.

       7. Please describe your process for initial and continuing communications to employees, including those who are
          vision- or hearing-impaired, and the availability of one-on-one meetings with employees. Please describe your
          multi-lingual capabilities. Please provide samples of communications materials.




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