University of Arkansas s2

University of Arkansas

Q&A #2

RFP # R549136

1. Does the University have a current relationship with a consultant providing investment, governance and/or participant services fort he plans covered by this RFP?

a. Answer: No.

2. Is there an investment and/or administrative committee in place to perform on-going monitoring of service providers, fees and investments for the plan included within the RFP?

3. Answer: the University has recently formed its’ first committee, the UA Retirement Advisory Committee and this group has had two organizational meetings to date. This group is focusing initially on the selection of a consultant.

4. Which plans are included in this RFP?

a. Answer: The four year institutions, with the exception of UA Fort Smith, will be the first area of focus of the Committee. The campuses included are: UA Fayetteville, UAMS, UALR, UAPB and UAM. These five institutions represent more than 95% of eligible participants in the retirement plan.

5. In addition to TIAA Cref and Fidelity, are there any frozen legacy vendors in place that retain 403b and/or 457 plan assets?

a. Answer: no

6. Which organizations are included in your self-determined peer group for benchmarking?

a. The University has not yet selected a peer group for benchmarking and will consider this after the selection of a consultant.

7. What is the University’s anticipated timeframe to go live with any investment structure, administrative structure or plan design changes that would result from this project?

a. This is to be determined.

8. As part of the engagement, is the University considering

a. Moving to a single plan service provider?

b. Engaging a master administrator to streamline administration/enrollment/data coordination? c. Reducing the number of investment funds made available to participants?

d. Changing the design or features of the plans?

Answer: all of these topics are open for consideration by the Committee

9. Do the plans currently have an Investment Policy Statement?

a. Answer: no.

10. Could you share a listing of the investment funds and assets available from each vendor?

a. Answer: The University’s retirement plan offers participants all proprietary funds offered by TIAA Cref and Fidelity. Total assets are approximately $3 billion at TIAA Cref and $690,000,000 at Fidelity.