Upcoming Webinars
Access the latest trends and insights shaping the profession—free for members.
.png)
 (1).jpg)
_1.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
.png)
.jpg)
.jpg)
.jpg)
Document
RFP -Compensation Study, 2023
Year Created: 2023
DOCUMENT
RFP - INSURANCE BROKER/VENDOR SERVICES TO DEVELOP AND IMPLEMENT A FULL CAFETERIA PLAN (IRS SECTION125 PLAN) 2002
- YEAR CREATED: 2002
- ENTITY TYPE: City/Township
- TYPE OF DOCUMENT: RFP - Request for Proposals
- Management
- Professional Services
The document is a Request for Proposals (RFP) issued by the City of Miami Beach. The purpose of the RFP is to find an administrator for the City's employee benefit plan, specifically a Cafeteria Plan pursuant to Section 125 of the Internal Revenue Service (IRS) code.
The document outlines the requirements and qualifications for the administrator, including the need to provide various reports such as reimbursement summary reports, account activity reports, and customer service statistics. The administrator is also responsible for storage of new hire and enrollment materials, processing new hire and daily family status changes, and providing customer service support via a toll-free telephone number.
Compliance with federal and state laws, including IRS regulations, is emphasized, and the administrator is required to conduct non-discrimination testing and file IRS Form 5500 for the plan. The document also mentions the evaluation and selection process, with criteria such as specific experience, ease of reimbursement, references, and costs/guarantees/benefits offered.
After the selection process, the City Manager or their designee will engage in negotiations with the chosen administrator. Once negotiations are successful, a contract acceptable to both parties will be presented to the City.
Overall, the document provides a comprehensive overview of the requirements and expectations for the administrator of the City of Miami Beach's employee benefit plan, as well as the subsequent negotiation and contracting process.