Developing the Model Plan, Selecting Model Plan Investment Providers

To demystify the daunting array of retirement investment options currently available to school system employees, IBC member associations have worked together to develop a simple strategy:

• Identify the characteristics of “model” plan investment products and require that all investment products meet these criteria.
• Require that all investment products offered to its employees meet the requirements of the new IRS regulatory structure.
• Leverage IBC members’ collective buying power to secure the lowest possible fees commensurate with the services provided.

IBC issued a request for proposals to the 90 investment providers currently doing business in the Florida K-12 education market. Twenty-four companies submitted 30 proposals.

After a careful and extensive review process, five investment providers were selected for exclusive membership in the Model Plan.

GE-43878 (6/08)