REQUEST FOR PROPOSALS FOR FINANCIAL EDUCATION SERVICES RFP NO. MOSS-0003

Transcription

1 REQUEST FOR PROPOSALS FOR FINANCIAL EDUCATION SERVICES RFP NO. MOSS-0003 Release Date July 25, 2011 RFP Submittal Due Date: September 6, :00 P.M. Los Angeles City Employees Retirement System Public Relations and Communications Division 360 East Second Street, 2 nd Floor Los Angeles, CA Question Submittal Due Date: To RFP Administrator August 26, 2011/Ten calendar days prior to RFP Submittal Due Date John de la Rosa Los Angeles City Employees Retirement System Management and Office Services Section 360 East Second Street, 2 nd Floor Los Angeles, CA Phone (213) Fax (213) John.Delarosa@lacity.org All communications regarding this Request for Proposals shall be directed in writing to the RFP Administrator listed above. Written communications may be made via , facsimile, U.S. Mail or delivery service. Any Proposer communicating with the City of Los Angeles staff other than the RFP Administrator may be disqualified, and their Proposal declared non-responsive.

2 TABLE OF CONTENTS Page I. Introduction 3 II. Objective of the Request for Proposal 4 III. Scope of Services 4 A. Services to be Provided by the Contractor 4 B. LACERS Responsibilities 6 IV. Instructions to Proposers 7 A. Submitting a Written Proposal Narrative 7 B. Narrative Requirements 7 C. Submitted Proposals 8 D. Proposal Submittal Information 9 V. Proposal Submittal Items 10 A. Experience and Qualifications 10 B. Proposed Services and Compensation 12 VI. Evaluation of Proposals 14 A. Evaluation Process and Criteria 14 B. Evaluation and Recommendation 15 C. Right to Reject Proposals and to Waive Informalities 16 VII. Incorporation of Appendixes 16 Appendix A General Conditions and Compliance Documents Attachment 1 LACERS Marketing Cessation Policy Attachment 2 Request for Proposal Warranty/Affidavit Attachment 3 Affirmative Action Plan Attachment 4 Bidder Certification CEC Form 50 Attachment 5 Confidential & Non Disclosure of Member Information Attachment 6 Bidders Contributions CEC Form 55 Attachment 7 MBE/WBE/OBE Subcontractor List Appendix B Standard Provisions for City Contracts (Rev. 03/09) Appendix C Insurance Requirements of Awarded Contractor Appendix D RFP Questionnaire VIII. Sample Proposer RFP Checklist 17 Page 2 of 17

3 I. INTRODUCTION Background: The Los Angeles City Employees Retirement System (LACERS) is initiating this Request for Proposals (hereinafter referred to as RFP) to obtain proposals from qualified and experienced firms (hereinafter referred to as Proposer) that provide financial planning education services to employee members of public pension systems. LACERS is a Department of the City of Los Angeles, California, established in 1937 under Article XI of the City Charter. The Department is under the exclusive management and control of the Board of Administration (hereinafter referred to as Board) that has sole authority for the administration of benefits and investing of the assets of the Fund. It administers a Defined Benefit Retirement Plan and Postemployment Healthcare Plan for approximately 27,600 active civilian employees and 17,400 Retired Members and beneficiaries of the City of Los Angeles. It collects mandatory bi-weekly contributions by payroll deduction and maintains accounts of contributions and service for all Active Members. LACERS Retirement Plan provides for service and disability retirement benefits as well as death benefits for its Members and/or their beneficiaries. LACERS also provides a Postemployment Healthcare benefit to eligible Retirees of the Retirement Plan and their eligible dependents. It pays an estimated annual retirement payroll of 660 million, in addition to the health insurance subsidies of approximately 87 million annually. LACERS benefits are funded through City contributions and Member contributions along with accumulated investment earnings derived from those contributions. Member Education: As part of LACERS Strategic Initiative to implement a comprehensive education and communications plan to guide Members through all stages of pre-retirement and retirement, LACERS Communications staff continues to develop and present seminars for Active and Retired Members on various topics related to the City s Defined Benefit Retirement Plan. Active Member seminars have included Early Career and Late Career Planning for Retirement Seminar, and Lunchtime Lectures. Post-workshop surveys are distributed to the participants at the end of each seminar to assist staff in determining if targeted presentation goals were met and to make improvements, if necessary, in future LACERS seminars. The following provides a brief description of recent seminar content: Early Career Seminars: These 1 ½ hour seminars are recommended for City employees who are in the first half of their City careers. The seminar covers the LACERS retirement formula, the retirement allowance and survivor benefits. Late Career Seminars: These 4 ½ hour long seminars are recommended for City employees who are in the second half of their careers. The seminar covers the LACERS retirement formula, retirement allowance, health benefits, survivor benefits, mental preparedness and what to expect at a retirement counseling session. Lunchtime Lectures: LACERS Lunchtime Lectures series run an hour in length. Examples of topics of LACERS Lunchtime Lecture include Dissolution of Marriage/Domestic Partnership, Disability Retirement and Survivor Benefits, the Larger Annuity Program, and the Family Death Benefit Insurance Program. In 2008, LACERS added a series of two personal finance workshops to its educational offerings for Members, which were developed and conducted by a financial education firm specializing in unbiased educational programs. The workshop topics ranged from basic financial management, budgeting and saving for retirement to principles of investing to achieve retirement goals. The workshops were well received by LACERS Members. The contract to provide these services to LACERS expired in May LACERS is issuing this RFP with the goal of establishing a new three (3) year contract with the most qualified and responsive Proposer to begin offering personal finance workshops to LACERS Members starting in late fall 2011 or early Page 3 of 17

4 II. OBJECTIVE OF THE REQUEST FOR PROPOSALS LACERS is seeking proposals from qualified financial education firms that specialize in providing independent, unbiased retirement education workshops to employees of public pension systems. To be considered responsive to this RFP, firms must have qualifications and experience in financial planning education (details provided in Section V, Part A) to successfully perform the required services described herein. It is LACERS intention to award a contract to one selected Proposer (hereinafter referred to as Contractor) for a term of three (3) years with a target contract annual cost of 50,000 per year or a total of 150,000 for the term of the contract. If the proposing entity submits alternatives and/or substitutions to the terms and conditions, LACERS reserves the right to determine if the alternatives/substitutions are acceptable. The selected Proposer will successfully pass two levels of review: Level I, Proposer must demonstrate its responsiveness to the RFP requirements, including submittal of items listed in Appendix A, General Conditions and Compliance Documents. Level II, LACERS evaluation of the Proposer s proposed plan and compensation for providing the required services. A proposal must pass Level I before progressing to Level II where the Proposer s plan, costs, and qualifications will be evaluated and ranked. See Section VI. EVALUATION OF PROPOSALS for further detail on Level I and Level II review criteria. The Proposer which demonstrates itself to be the most qualified to provide the required services for the best overall value to LACERS will be recommended for contract award. Upon consideration and approval of award by the Board, the contract, which will incorporate the successful Proposer s written response to this RFP, will be subject to review by the City Attorney, including compliance with Standard Provisions for City Contracts (Rev. 03/09) with Exhibit 1, included under Appendix B of this RFP. LACERS reserves the right to withdraw this RFP at any time without prior notice and the right to reject any and all responses to this RFP. The rejection of any or all proposals shall not render LACERS liable for costs or damages. LACERS makes no representation that any contract will be awarded to any Proposer submitting a proposal in response to this RFP. III. SCOPE OF SERVICES A. Services to be provided by the Successful Proposer: The successful Proposer shall develop and present financial education workshops to LACERS Members through adherence to the guidelines in 1-13 below: 1. Consultant shall review all retirement benefits and financial programs specifically available to City employees through LACERS, the City s deferred compensation program, the employees representative unions and any other relevant financial program offerings for the purpose of becoming adequately familiar with the above subject matter to develop and deliver a comprehensive financial planning education workshop program customized specifically for LACERS Members, in combination with general financial instruments available to the public. 2. Consultant shall develop up to three (3) instruction modules with separate instructional goals and materials for each workshop and in the following durations as follows, each of which may be presented on a bi-monthly basis over the three year contract term as follows in Table I: Page 4 of 17

5 Table I Type of Workshop (WS) Module Duration Estimated Attendance Total WS First 12 months Total WS Second 12 Months Total WS Third 12 months Introductory Financial Planning 4 hours four six six Intermediate Financial Workshop 3 hours four six six Estate Planning for Active and Retired Members 4 hours two four six 3. Consultant shall not attempt to promote, sell, or refer workshop participants to any type of specific financial product or service at any time before, during, or after workshop presentations, and/or during any part of the performance of this scope of work throughout the contract term. 4. Consultant shall develop, draft, review and refine all workshop materials for each of the three (3) modules under the direction of LACERS staff, and shall not submit any materials to print until LACERS has reviewed the material and provided written approval. The workshop manuals must be physically constructed in a sturdy manner consistent with personal reference material. Content of material shall be written and formatted as a reference guide for retirement and financial planning; it shall identify additional resources for participants to access for the most up-to-date information in print and on the internet. Each module shall include financial worksheets for distribution to participants to evaluate and develop individual financial plans. Materials produced exclusively for LACERS for each module for which the Consultant is compensated shall become property of LACERS. 5. Consultant shall produce a workshop survey instrument for each module for review and approval by LACERS staff, to assist staff in determining if workshop presentation goals are met and to make improvements, if necessary, in future workshop presentations. Consultant shall provide LACERS with copies of surveys collected from Members for each workshop, including a summary analysis of results and implications for upcoming workshops, as well as any other pertinent observations or debriefing comments on the workshop experience from the instructor s point-of-view. 6. Consultant shall present demonstration workshops for each of the three (3) modules to designated LACERS staff for comment and feedback, to be incorporated into the workshop plans for presentation to a pilot group of LACERS Members, prior to official workshop rollout to LACERS Members. In the interest of budget concerns, LACERS reserves the right to waive the requirement for presentation of demonstration workshops for any existing LACERS workshop materials previously developed exclusively for presentation to LACERS Members and approved of by LACERS management, prior to presentation of workshops to LACERS members by the Consultant. Page 5 of 17

6 7. Consultant is required to provide qualified instructor(s) who are Certified Financial Planners to deliver all workshops regardless of workshop level. All instructors must be pre-approved by LACERS and are subject to removal at LACERS discretion. 8. The introductory workshop shall include an interactive financial planning tool kit with information and formulas that will encourage Members to develop their own financial plan based on principles and guidelines from the workshop. 9. Consultant shall assign one Engagement manager as the single point of contact with LACERS. The Engagement manager shall have decision-making authority within the Proposer s organization, and be responsible for overseeing the program and all personnel providing services to LACERS. LACERS shall retain all rights to request replacement of an Engagement manager whose performance LACERS deems as unsatisfactory and shall retain all rights to approve any replacement Engagement manager. 10. Consultant shall be responsible as the financial expert of the engaged parties to ensure all presented information is technically, financially, and legally accurate and current. Consultant shall review all materials prior to each workshop to ensure the information reflects recent changes in legislation or LACERS benefits, if applicable. 11. Consultant shall inform LACERS staff of any pending legislation, current events or studies that may affect financial planning for LACERS Members. Accordingly, Consultant shall make recommendations for changes in session instruction or materials. 12. Consultant shall meet and communicate with LACERS staff regularly and upon request. Additional financial education services may be added to the successful Proposer s Scope of Work at the request of LACERS. Proposers shall provide an estimated hourly fee for such additional services as instructed in Section V. PROPOSAL SUBMITTAL ITEMS, B. Proposed Services and Compensation. B. LACERS Responsibilities: LACERS agrees to provide all such reasonable cooperation requested by the Contractor, including, without limitation, the following: 1. Access to, and/or copies of relevant documents, reports, data statistics, and analyses available to LACERS for the successful Proposer for performance of financial education services for LACERS Members. 2. Timely accessibility to LACERS staff and facilities to accomplish contract performance requirements. 3. Publicity and promotion of the financial education workshops through established internal LACERS channels of communication. 4. Pre-enrollment of LACERS Members in financial education workshops and assistance in facilitating on-site workshop presentations. Page 6 of 17

7 IV. INSTRUCTIONS TO PROPOSERS A. Submitting a Written Proposal Narrative General Guidelines To be considered for award of this agreement, Proposer must submit a sealed written proposal in response to this RFP. Further detail on items that are required for submittal with your proposal to support your written narrative is listed under Section V. Proposal Submittal Items. Proposals will be evaluated based on several evaluation criteria as indicated in this RFP in Section VI. Evaluation of Proposal, and your narrative submittal in this RFP process will be the primary basis on which LACERS will consider its award for the Agreement. Therefore, Proposers shall refer to Section III. Scope of Services and be thorough and as detailed as possible when responding to each proposal item and assembling a proposal. In the written proposal, Proposers must include responses to all proposal items requested herein. Proposers will not be able to add to nor modify their proposals after the RFP due date. Proposers may wish to consider the following guidelines in preparing their proposal: Verify that your proposal is complete and that you have completely responded to all proposal items and compliance documents in the RFP. Make sure your proposal is well-organized and easy to read. 1. Proposers shall prepare proposals and related materials for submission at their own expense. It is requested that proposals be prepared simply and economically, avoiding the use of unnecessary promotional material. All submitted proposals shall become the property of LACERS and shall not be returned to Proposers. 2. LACERS may deem a Proposer non-responsive if the Proposer fails to provide all required documents and copies. 3. Proposals accepted by LACERS in writing constitute a legally binding contract offer. The successful Proposer agrees without exceptions to comply with all the requirements listed below and as stated under Appendix B, Standard Provisions for City Contracts (Rev. 03/09), including PSC-22. Intellectual Property Warranty and PSC-23. Ownership and License. Any proposed substitution(s) to this requirement shall be subject to approval by LACERS. 4. All documents material, data, and reports originated and prepared in response to this RFP by the successful Proposer shall be incorporated into the successful Proposer s contract with LACERS, and shall be and remain the property of LACERS for its use in any manner it deems appropriate. B. Narrative Requirements Proposer shall provide a comprehensive and detailed narrative proposal for this project. It shall include: 1. The Proposer s projected approach and methodology for this project. 2. Proposed work plan including tasks, anticipated deliverables, and generic timelines spread over a three (3) year contract term, in reference to Section III. Scope of Services, Paragraph 2. Table I. 3. A proposed syllabus or outline of content for workshops for the introductory and intermediate financial workshops, and for the estate planning workshop. Page 7 of 17

8 4. A detailed list of items to be included in the beginner s financial planning tool kit listed in Section III. Scope of Services, Paragraph To ensure workshop materials are up-to-date, provide a written procedure to be undertaken for verifying the accuracy and currency of workshop materials, including the sources that will be verified by the Proposer and the frequency of review. 6. Indicate any warranties and guarantees for any service or materials. C. Submitted Proposals Proposals must contain all of the following: 1. Title Page The title page must be titled RFP for Financial Education Provider along with Proposer s name, address, and contact information. 2. Table of Contents 3. Cover Letter and Proposal Narrative Proposers are to include a cover letter indicating the contact information for the Proposer. Include at a minimum: a. Names of Key personnel, including title and position b. Telephone and fax numbers (including office and cell phone numbers, as appropriate) c. addresses, and any other information needed by City staff to contact Proposers d. A statement that the Proposer confirms its acknowledgement and acceptance of the terms and conditions set forth herein. If the Proposer submits alternatives and/or substitutions to the terms and conditions, LACERS reserves the right to determine if the alternatives/substitutions are acceptable. Note: Proposers are required to place a detailed Proposal Narrative described in Section IV.B of this RFP immediately behind the Cover Letter. 4. Proposal Submittal Items Proposers are to submit complete, detailed responses to the entire proposal items required in this RFP under Section V. Proposal Submittal Items, including but not limited to Experience and Qualifications, Samples of Work Product, References, and Proposed Services and Compensation. 5. General Conditions and Compliance Documents Proposers are required to comply with the General Conditions and Compliance Documents (Appendix A) required herein. This new RFP is for a new agreement with LACERS, and if applicable, any previous RFP document submittals and/or waivers do not apply to this RFP submittal. New forms must be completed and processed for this RFP. As part of the RFP process, all Proposers are to review, complete, and submit the following compliance documents. Information, related forms, and instructions are located in Appendix A of the RFP. LACERS reserves the right to request additional information for clarification regarding submitted compliance documents during the evaluation process. Page 8 of 17

9 The following compliance documents must be included with your proposal: a. Request for Proposals Warranty/Affidavit (Appendix A, Attachment 2) The document must be signed and notarized. b. Affirmative Action Plan (Appendix A, Attachment 3) Complete A1, A2 and A7 Submit A1 through A7 with the proposal, OR The Proposer may submit their own Affirmative Action Plan that meets all the requirements of the City of Los Angeles Affirmative Action Program c. Bidder Certification City Ethics Commission Form 50 (Appendix A, Attachment 4) d. Bidders Contributions CEC Form 55 (Appendix A, Attachment 6) e. MBE/WBE/OBE Subcontractor List (Appendix A, Attachment 7) In addition, the Proposer selected for award of the agreement shall submit the following additional required items prior to execution of the agreement (within 30 calendar days of notification of award by LACERS). Business Tax Registration Certificate City-approved Proof of Insurance Slavery Disclosure Ordinance D. Proposal Submittal Information 1. Deadline for Submission: To be considered, proposals must be received by LACERS on or before 3:00 P.M, on Tuesday, September 6, Where to Submit Your Proposal: The complete proposal package shall be placed in a sealed envelope or box with the following label: Request for Proposals For Financial Education Provider DO NOT OPEN Los Angeles City Employees Retirement System Management and Office Services Section Attention: John de la Rosa 360 East Second Street, 2 nd Floor Los Angeles, CA Number of Copies: Please provide five (5) bound copies, one non-bound reproducible copy, and one electronic copy via a CD. Plainly identify the respective documents. 4. Important Notices: Proposers who mail their proposals should allow adequate mail delivery time to ensure timely receipt of the proposals. Late proposals will not be considered for review. The City reserves the right to determine the timelines of all proposals submitted. At the day and time appointed, all timely submitted proposals will be opened and the name of the Proposers Page 9 of 17

10 announced. No other information about the proposals will be made public until such time as a recommendation concerning proposals is made to the Board. 5. Contact with City Personnel: Please direct comments and questions to the RFP Administrator. All contact regarding this RFP or any matter relating thereto must be in writing and may be mailed, ed or faxed to the administrator listed below. All questions must be submitted no later than August 26, 2011 (10 calendar days prior to the RFP Submittal Due Date of September 6, 2011). Questions submitted after the Question Submittal Due Date may not be entertained. Name: John de la Rosa Address: 360 E. Second Street, 2 nd Floor, Los Angeles, CA John.Delarosa@lacity.org Fax: (213) All questions submitted and answers prepared by LACERS will be sent to the submitting party and will be posted on the LACERS website at the following: It is the responsibility of all Proposers to monitor the LACERS website for postings of Questions and Answers. For further detail on Proposers responsibility to monitor the LACERS website for posting of Questions and Answers and/or any other information relative to this RFP, see Appendix A. General Conditions and Compliance Documents. V. PROPOSAL SUBMITTAL ITEMS In the written proposal, Proposers should include detailed responses to each of the Proposal Submittal Items. If selected as the winning proposal, the Proposer must be willing and able to commit to the Proposal Submittal Items. Keeping in mind the public venue needs and the location and the requirements of LACERS as set forth in this RFP, Proposers are encouraged to submit a practical and sustainable proposal. Accordingly, Proposers must respond to each of the following items in their written proposal. Each response in the proposal must correspond to each of the numbered items herein. A. Experience and Qualifications: Interested firms must demonstrate a minimum of five (5) years in the business of offering financial planning education to employee members of public pension systems. In addition, only key personnel who have the equivalent of five (5) years of experience or more who hold a current professional designation as a Certified Financial Planner by the Certified Financial Planner Board of Standards, Inc. will be considered. Proposer shall submit a list of their references, experience, and qualifications as stated below: 1. Experience and Qualifications of Firm and Key Personnel Proposer shall supply information concerning the background and experience of the proposing firm and the key personnel proposing to work on LACERS financial education workshops as listed in Section III, Scope of Services of this RFP. LACERS reserves the right to approve or reject key personnel. The following are examples of items that are to be included to present the firm s qualifications: a. Profile of Proposer including a brief history, year founded, business entity type, location of headquarters and subsidiaries (if any), services provided, and approximate number of personnel (full-time, part-time, and seasonal). Page 10 of 17

11 To be considered eligible to submit a proposal in response to this RFP, interested Proposers headquartered outside of Southern California must maintain an office in the greater Los Angeles area with sufficient qualified local staff assigned to it to fulfill the terms and conditions stated within this RFP and within the proposal submittal. Identify the licenses, other credentials/designations, affiliations, special knowledge, qualifications, expertise or awards held by the Proposer and its key managers. Provide a list of all current clients to whom the Proposer provides financial education programs. Include name of client, contact person, address and telephone number. b. Qualifications and experience of key personnel of the Proposer and key personnel that will be assigned to this project, and presentation of the consulting team and all sub-contractors, including: Indicate the roles and responsibilities of each individual involved in the project. An organization chart for the team One page resume for each individual providing service under this contract. Include credentials/designations, licenses, education, qualifications, experience, and relevant key projects. Provide responses to the following questions from each individual: (1) Have you ever been cited by a professional or regulatory governing body for disciplinary reasons? (2) Are you currently engaged in any other investment-related business, either as a sole proprietor, partner, office, employee, trustee, agent, or otherwise? If so explain. (3) How many clients will you be working with concurrently with this contract? c. Additionally, indicate if the Proposer sells financial products, identify affiliated companies of the Proposer and explain briefly what differentiates you from your competition. Include a brief statement of the Proposer s philosophy toward providing financial education services. f. Samples of Work Products: Provide a DVD of a financial planning workshop that the Proposer conducted for a comparable client within the last three (3) years. In addition, provide a sample of instructional materials that the Proposer developed for a comparable client within the last three (3) years. 2. Experience with Similar Contracts: Proposer shall provide a description of previous work experience in providing similar financial education contracts over the past five years to government pension system clients or comparable clients. Proposer shall include a summary of scope of services, dates of contract, contract amount, contact name, and Page 11 of 17

12 telephone number for references: Entity Name/ Address Sample Table Contact Name and Phone number for references Beginning and Ending Dates of Contract Contract Amount For Services Summary of Scope of Services 3. References: Proposer shall attach at least three (3) reference letters from former or current clients to document work experience and client satisfaction. It is preferable that two of the three references are from clients with similar contracts or public agency clients. The letters are to include: (1) The name of the Proposer s lead consultant on the project (2) Business address (3) Phone number of contact person (4) The time period during which the services were provided (5) A brief summary of the services provided Note: Submission of a proposal in response to this RFP constitutes permission to LACERS to contact any identified current and/or previous clients to request information on the performance of the Proposer. In addition, if the Proposer makes a good faith effort to request and receive reference letters prior to the deadline for submission of proposals in response to this RFP to no avail, please state so in writing and provide LACERS with the necessary phone numbers to contact at least three (3) references for the necessary information to evaluate the Proposer s past experience with similar contracts. B. Proposed Services and Compensation 1. Services: Proposer shall provide flat fee cost information to provide described services, minimal number of workshops for the three (3) year contract term, and optional additional services described under Section III. Scope of Services, and supported by narrative information required under Section IV. Instructions to Proposers. 2. Compensation: Provide proposed flat fees for services listed in Table 2, Compensation, Parts I, II and III below. Include all labor, materials, and overhead unless otherwise specified below. The proposed fee is not to exceed 50,000 per year and 150,000 for the term of the contract. LACERS reserves the right to select any or all of the services listed in Table 2 on the following page to be performed by the successful Proposer. (see next page) Page 12 of 17

13 Table 2, Proposed Compensation: For Completion and Submission by Proposer I. Delivery of Workshop Module Proposed Flat Fee: A. Completed and LACERS approved Introductory Financial Planning Module, including meetings with LACERS staff and training materials. B. Completed and LACERS approved Intermediate Financial Workshop, including meetings with LACERS staff and training materials. C. Completed and LACERS approved Estate Planning Workshop, including meetings with LACERS staff and training materials. II. Delivery of Workshop Instruction Proposed Flat Fee: A. Introductory Financial Planning Workshop, including mileage, parking, travel time, and presentation materials. Indicate discounted fee option for multiple classes conducted on the same day Workshop materials: Indicate fee per participant, including all expenses required to produce the materials. B. Intermediate Financial Workshop, including mileage, parking, travel time, and presentation materials. Indicate discounted fee option for multiple classes conducted on the same day Workshop materials: Indicate fee per participant, including all expenses required to produce the materials. C. Estate Planning Workshop, including mileage, parking, travel time, and presentation materials. Indicate discounted fee option for multiple classes conducted on the same day III. Workshop materials: Indicate fee per participant, including all expenses required to produce the materials. Optional Additional Financial Education Services List Hourly rate by professional job title/category: Proposed Hourly Rate: Page 13 of 17

14 VI. EVALUATION OF PROPOSALS A. Evaluation Process and Criteria LACERS reserves the right to request additional information to clarify a submitted proposal. The evaluation of proposals will consist of two levels. Each Proposer must pass Level I in order to advance to Level II. 1. Level I Compliance with RFP Submission Requirements LACERS will conduct a preliminary evaluation of all proposals submitted by the deadline to determine compliance with proposal requirements and mandatory document submissions. a. Manner of Submission Proposal must meet all RFP requirements for submission including deadlines, format, and number of copies. b. Information Requested Proposal must include all information and forms requested in the RFP. 2. Level II Evaluation and Scoring Criteria of Proposal Items For the purposes of Level II evaluation, the responsive proposals will be evaluated, ranked, and scored based on the criteria below, and as described under B. Evaluation Criteria Detail: a. Specified Qualifications Proposer must demonstrate it meets all specified qualifications called for in the RFP, which may include proper licenses or specific expertise. b. Acceptable Alternatives Proposals offering alternatives to the specified qualifications above must be acceptable to the City, otherwise the proposal will be rejected as non-responsive. Proposals subject to conditions and/or limitations may be rejected as non-responsive. c. Background Review LACERS review of the Proposer s performance on previous contracts, ability to meet contractual obligations, and record of ethics and integrity must be satisfactorily met to be deemed responsive. (See Table 3 on the next page for further detail) Page 14 of 17

15 Table 3 Criteria Professionalism Proposer demonstrated professionalism in the response to the RFP, such as: RFP presentation, well-written summary of the important features of the RFP, etc. Possible Points 10 Proposed Scope of Services Description and Methodology Proposer demonstrated strong understanding of LACERS objectives and the ability to provide the required scope of services as demonstrated in proposal narrative detail Timeline for work start activities and workshop presentation Qualifications, Experience, and Accomplishments Experience providing financial education to employee members of public pension funds Ability to demonstrate strong and engaging presentations skills while delivering serious financial planning information, as evidenced by DVD submittal Ability to produce user friendly, durable and attractive workshop materials, as evidenced by sample workshop material submittal Experience of Certified Financial Planner workshop presenters Strength of favorable references during reference verification process Value of Cost 20 Evaluation of the relative cost and value for each Proposer based upon its submission of the proposed fees listed in Table 2, Proposed Compensation Competitiveness of pricing relative to other proposals submitted; this evaluation may also consider cost on a qualitative basis, not necessarily on a quantitative basis Total 100 Finalist(s) may be selected for interview or other selection process determined by the Board. Interviews are typically conducted in person at the LACERS office location. However, they may be conducted telephonically, if necessary. B. Evaluation and Recommendation Responsive proposals to this RFP will be ranked in each of the criteria above and scored according to the rank. LACERS may engage outside individuals to compose an evaluation panel. Furthermore, LACERS reserves the right to conduct such investigations as LACERS considers appropriate with respect to the qualifications of each Proposer or responsive Proposer and any information contained in its proposal. All proposals in response to this RFP will be evaluated solely on the basis of the criteria listed above and the ranking of any review panel will serve as a basis to formulate staff recommendations, setting forth the reasons for recommendation in a report to the LACERS Page 15 of 17

16 Board. C. Right to Reject Proposals and to Waive Informalities In accordance with Los Angeles City Charter Section 371(c), the City of Los Angeles (City) shall reserve the right to reject any and all bids or proposals and to waive any informality in the bid or proposal when to do so would be to the advantage of the City. The City may also reject the bid or proposal of any bidder or Proposer who has previously failed to timely and satisfactorily perform any contract with the City. VII. INCORPORATION OF APPENDIX ITEMS This RFP and incorporated documents represent the entire RFP and supersedes all prior written representations, discussions, and agreements. The following documents are incorporated and made a part hereof by reference: Appendix A General Conditions and Compliance Documents Attachment 1 LACERS Marketing Cessation Policy Attachment 2 Request for Proposal Warranty/Affidavit Attachment 3 Affirmative Action Plan Attachment 4 Bidder CEC Form 50 Attachment 5 Confidentiality and Non-Disclosure of Member Information Attachment 6 Bidder Contributions CEC Form 55 Attachment 7 MBE/WBE/OBE Subcontractor List Appendix B Standard Provisions for City Contracts (Rev. 03/09) with Exhibit 1 The agreement awarded in this RFP will be subject to the provisions of the Standard Provisions for City Contracts with exceptions applicable for provisions: PSC-24 Contractor Responsibility Ordinance and PSC-28 Equal Benefits Ordinance Appendix C Appendix D Insurance Requirements of Awarded Contractor RFP Questionnaire Page 16 of 17

17 VIII. SAMPLE PROPOSER RFP CHECKLIST Disclaimer: The checklist is provided solely to assist the PROPOSER in ensuring that all RFP submittal and compliance documents have been submitted. It is the responsibility of the PROPOSER to ensure accuracy and completeness in submitting the required documentation. FORM/DOCUMENT DESCRIPTION 1. Title Page 2. Table of Contents 3. Cover Letter and Proposal Narrative 4. Proposal Submittal Items a. Experience and Qualifications, including Sample of Work Products b. Project Proposal c. References d. RFP Questionnaire 5. Proposed Services and Compensation a. Services b. Table 2, Proposed Compensation c. Additional Financial Services (optional) INCLUDED NOT INCLUDED 6. Compliance Documents a. Request for Proposal Warranty/Affidavit b. Affirmative Action Plan c. Bidder Certification CEC Form 50 d. Bidder Contributions CEC Form 55 DUE: 3:00 pm, Tuesday, September 6, 2011 SUBMITTAL LOCATION: Los Angeles City Employees Retirement System Management and Office Services Section 360 East Second Street, 2 nd Floor Los Angeles, CA Page 17 of 17