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RFP for Single Premium Group Annuity Contract

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A client has a defined benefit plan with 390 participants (all term vesteds, retirees and beneficiaries) and slightly under $2 million in assets. The plan would like to issue an RFP to solicit bids for a single premium group annuity contract for all of the plan's participants. Does anyone have an RFP they could share as a template for creating such a document?

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For something like this plan you really do not need a RFP. Dietrich is an annuity brokerage that specializes in pension risk transfer and we have placed over 3,000 DB plans and have over 40 years of experience . We would work with you and the client to solicit the bids (we have experience and ties with all the insurance providers in the space) and ensure the best price. Plus our process meets their 95-1 fiduciary requirements.

if you would like help on this contact me at mark.doloughty@dietrichannuity.com or call me at (610) 804-9055 

Mark

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Brentwood Asset Advisors is also a good source.  October Three may also be able to help.  May not need an RFP, but you should talk to more than one.  

That said, did you really mean 390 participants and only $2 million of assets?  That averages just over $5,000 per participant?  Seems very low.

You can also go directly to the insurance company on behalf of the sponsor.  If you really only have $2 million, I would start with Mutual of Omaha, Pacific Life, & CUNA Mutual.

 

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