Title
Resolution authorizing the chair of the board to enter into an agreement with Nationwide Retirement Solutions, Dublin, Ohio for Deferred Compensation Plan Services.
Staff Summary
· Lake County desires to enter into an agreement for Deferred Compensation Plan Services.
· Lake County extended Requests for Information to twenty (20) potential vendors and ten (10) responses were received.
· The departments of Human Resources and Financial and Administrative Services reviewed all responses and retained the services of Buck Consulting, Chicago IL to evaluate and rate the responses.
· Nationwide Retirement Solutions is recommended as the firm that best meets the needs of the County.
Body
WHEREAS, Requests for Information were called for by publication for Deferred Compensation Plan Services; and
WHEREAS, subsequent to said publication, requests were extended to twenty (20) vendors; and
WHEREAS, responses were received from ten (10) vendors and opened in the County Building, Waukegan, Illinois, on January 23, 2008; and
WHEREAS, The department’s of Human Resources and Financial and Administrative Services reviewed all responses and determined that it would be best for an expert to evaluate and rate the responses; and
WHEREAS, Buck Consulting, Chicago IL was retained to complete the evaluation and report their findings; and
WHEREAS, the Consultant’s findings determined that Nationwide Retirement Solutions offered the most advantageous Plan for the County; and
WHEREAS, during contract negotiations, it was realized that the Plan offering information submitted by Nationwide Retirement Solutions did not incorporate an affiliation with the National Association of Counties (NACo); and
WHEREAS, Nationwide Retirement Solutions was asked to re-submit the Plan Offering affiliated with NACo; and
WHEREAS, the NACo Plan offering was evaluated by Buck Consultants; and
WHEREAS, the consultant’s findings determined that the Nationwide Retirement Solutions ...
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