Bundled 401(k) Plan (NAF)
Bundled 401(k) Plan (NAF)
The 401(k) plan statistics below are based on participation effective December 31, 2010. There is no guarantee that eligible employees will continue to participate in the 401(k) plan. The number of active participants could vary from current levels. NAICS Code 523920 Portfolio Management.
INTRODUCTION
This requirement is for the Contractor to administer the Commander, Navy Installations Command (CNIC) nonappropriated (NAF) bundled 401(k) plan. The bundled plan includes trustee, record keeping, administration, investment and custodial services
BACKGROUND
Commander, Navy Installations Command (CNIC) is the Navy's program manager for a variety of recreational, social and community support programs for Navy personnel worldwide. The primary programs provided through MWR are clubs, golf, marinas, child care, sports, fitness and youth activities. As the program manager, CNIC, Fleet & Family Division provides management direction and oversight to the various components of CNIC, MWR field activities functioning in a manner similar to a corporate headquarters. CNIC is a non-appropriated funded instrumentality of the United States Government. It is a self-sustaining organization that generates the revenue necessary to operate through the sale of goods and services to authorized patrons.
a. CNIC Payroll Information
• Employees are paid biweekly on a single uniform pay-date
• 26 pay periods a year with approximately 118 payroll locations (includes overseas locations)
• 1 central payroll processor (payroll contractor)
• 2 central bank accounts for Electronic Fund Transfer (EFT)
• 2 central bank accounts for payroll checks
• Bi-weekly contributions are electronically transferred
b. Current 401(k) Plan Statistics (as of 04/01/17)
• Plan Assets: $176M (Note: at cost)
• Eligible Participants: 7,369
• Active Participants: 4,162
The 401(k) plan statistics above are based on participation effective March 31, 2017. There is no guarantee that eligible employees will continue to participate in the 401(k) plan. The number of active participants could vary from current levels.
c. Employees may choose to withhold any percent of their salary for the 401(k) program, subject to a maximum annual contribution of $18,000.00 for employee funds. In addition, CNIC provides an employer match dollar for dollar of up to 3%. The Contractor's Plan shall accommodate this option and other option changes as required by the CNIC.
This requirement is for the Contractor to administer the Commander, Navy Installations Command (CNIC) nonappropriated (NAF) bundled 401(k) plan. The bundled plan includes trustee, record keeping, administration, investment and custodial services. A contractor (Wells Fargo Retirement Services) is currently providing these services.
CNIC is a non-appropriated funded instrumentality of the United States Government. It is a self-sustaining organization that generates the revenue necessary to operate through the sale of goods and services to authorized patrons.
PERIOD OF PERFORMANCE. The period of performance for this contract shall be for a base period of three (3) years with two (2) three-year option periods and one (1) one-year final option period for a total contract duration not to exceed ten years.
PLACE OF PERFORMANCE. All functions are to be performed at the contractor's place of business.
John Wolfslau, Contract Specialist, Phone 901-874-6902, Fax 901-874-2073, Email John.Wolfslau@navy.mil - Troy L Milburn, Phone 901.874.6681, Fax 901.874-2073, Email troy.milburn@navy.mil
