Addendum
Addendum #2
10/13/2025
Question: What is the annual fee for the current consultant on the plan?
Answer: $15,000 quarterly
Question: What are the total eligible employees at the County? How many of them are actively contributing to the plan?
Answer: Approx. 2000 actively enrolled, including retirees. Approx. 2500 active employees.
Question: Are there any issues or concerns with the plan or the recordkeeper that the County would like to address?
Answer: no
Question: Is the County looking for 3(21) or 3(38) investment fiduciary services?
Answer: 3(38)
Addendum#1
10/09/2025
Question: Please list any retirement plans that you currently offer to employees Please tell us about your plan: number of EEs assets, participation rate, average balance.
Answer: Lake County 457 Plan is the only plan offered. Approximately $221m in assets and 2,000 participants with a balance.
Question: Are there any proprietary fixed accounts offered? If so, please list.
Answer: N/A regarding this proposal
Question: Are you currently working with a retirement plan consultant? How long have you been working with your current retirement consultant. What is their fee?
Answer: Yes, as indicated in the RFP
Question: Does the County offer a Defined Benefit plan?
Answer: No
Question: Is there an employer contribution to the plan?
Answer: NO
Question: Do you currently offer a Roth option?
Answer: YES
Question: When is the last time your organization issued an RFP for its retirement plans?
Answer: 2017
Question: Do you currently offer any financial wellness programs?
Answer: N/A for this proposal
Question: Are all of the vendors using the same plan document and administrative services agreement or do each of the vendors use their own?
Answer: Need clarification on this question, before we can respond.
Question: Are self directed brokerage accounts (also known as self managed accounts) currently available under the plan(s)? If yes, what percent of the assets are in it?
Answer: Yes, As of August 31st, it is 0.65% of assets in the self-directed brokerage.
Question: Are managed account services currently available under the plans? If yes, please provide the following:
- The identity of the current advice provider (e.g., Financial Engines, Morningstar, etc.
- The number of participants enrolled in service
- The amount of assets under the service.
Answer: N/a for this proposal