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RESOLUTION QUALIFYING FIRMS TO PROVIDE CONSULTING SERVICES FOR THE COUNTY OF PASSAIC VOLUNTARY EMPLOYEE DEFERRED COMPENSATION PLANS FOR CALENDAR YEAR 2025; AUTHORIZING AN AWARD OF CONTRACT TO SELECTIVE BENEFITS GROUP, PURSUANT TO N.J.S.A. 40A:11-5, ET SEQ.
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WHEREAS, the County of Passaic (hereafter “County”) is a body politic and corporate pursuant to N.J.S.A. 40:18-1 and vested with all rights contained therein; and
WHEREAS, pursuant to N.J.S.A. 40:20-1, the Board of County Commissioners of the County of Passaic (hereafter “Board”) is vested with managing the property, finances, and affairs of the County; and
WHEREAS, pursuant to N.J.S.A. 40A:11-5, et seq., the Purchasing Agent issued RFQ-25-016,
Consulting Services for Voluntary Employee Deferred Compensation Plans of the County of Passaic Calendar Year 2025 (hereafter “RFQ-25-016”), seeking to qualify a pool of firms to provide professional services to the County in calendar year 2025 on an as-needed basis; and
WHEREAS, pursuant to N.J.S.A. 19:44A-20.4, the County’s request for qualifications is a fair and open process, specifically, the request for qualifications for a pool of firms to provide consulting services for the County’s Voluntary Employee Deferred Compensation Plans in 2025 is publicly advertised, awarded under a process that provides for public solicitation of qualifications, established the basis of an award and disclosure process documented in writing prior to any solicitation, and is publicly opened and announced when awarded; and
WHEREAS, Selective Benefits Group submitted qualifications in response to RFQ-25-016, which were reviewed by the Chief Financial Officer, and is being recommended for qualification to provide consulting services for the County’s Voluntary Deferred Compensation Plans in calendar year 2025; and
WHEREAS, the Chief Financial Officer is recommending an award of contract to Selective Benefits Groups to provide consulting services for the County’s Voluntary Deferred Compensation Plans in calendar year 2025, in an amount not to exceed eight (8) basis points or fifteen thousand dollars ($15,000.00) per quarter, whichever is lesser; and
WHEREAS, the services from Selective Benefits Group come at no cost to the County, and are based upon savings achieved and paid by the deferred compensation provider; and
WHEREAS, this matter was discussed at the November 6, 2024 Administration and Finance Committee meeting, and is being recommended to the Board for approval.
NOW, THEREFORE, LET IT BE RESOLVED, pursuant to N.J.S.A. 40A:11-5(1)(a)(i), the Board of County Commissioners of the County of Passaic authorizes the following:
1. Selective Benefits Group and Bolton are qualified to provide consulting services for the County’s Voluntary Deferred Compensation Plans in calendar year 2025.
2. An award of contract to Selective Benefits Group to provide consulting services for the County’s Voluntary Deferred Compensation Plans in calendar year 2025, in an amount not to exceed eight (8) basis points or fifteen thousand dollars ($15,000.00) per quarter, whichever is lesser.
LET IT BE FURTHER RESOLVED, that the Clerk to the Board shall print, in the official newspaper, a brief notice stating the nature, duration, service, and amount of the contract awarded to Selective Benefits Group and maintain a copy of this Resolution on file and available for public inspection in the Office of the Clerk to the Board.
LET IT BE FURTHER RESOLVED, that the Clerk to the Board, County Counsel, and Director of the Board are authorized to take any steps necessary to carry out the purpose of this Resolution, including executing a contract with Selective Benefits Group.
NB November 18, 2024