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Stephen H. Keyser, Managing Director
1460 Craig Road • St. Louis, MO 63146
314-265-6192
• skeyser@edplus.orgRe: Response to the Springfield Public Schools Request for Proposal
CSD Retirement Trust (“Trust”) in partnership with CBIZ Retirement Plan Services and VALIC
is pleased to provide the enclosed holistic proposal for fiduciary governance, compliance,
administration, investment, employee education, and education/communication services for
Springfield Public Schools’ 403(b) and 457(b) Plan Services. Our proposal outlines a
comprehensive package of services available to Springfield Public Schools and its employees
through the CSD Retirement Trust. A few features of our proposal are highlighted below:
The Trust was created by educators for educators over a two-year period and launched in
January, 2010. Since then, the Trust has grown to 39 school districts/charters, over 4,300
participants and $93 million in plan assets. The Trust has grown because it constantly
focuses on the services and programs that educators and staff want and need while
reducing, if not eliminating, the administrative burden and cost a district incurs in sponsoring
403(b) and 457(b) plans.
It is the only program that was built from the ground up for
the Missouri K-12 market.
For that reason employee participation in our member districts
has increased, in some cases dramatically, and we would expect the same to occur for
Springfield.
Because of its growth and exceptional and comprehensive services the Trust has gained
industry-wide recognition as the leading program in the emerging single provider market. We
offer an innovative program with dedicated administration, superior investment management
and focused employee education and communication. The Trust puts achieving participants’
retirement goals first as evidenced in our education, investment advice, low fees and
transparency vs. selling products.
Here’s a brief summary of how the CSD Retirement Trust with its partners CBIZ and VALIC
provide Springfield Public Schools and its employees a “best in class” defined contribution
program.
Improves retirement outcomes for Participants by:
Lowering fees and increasing transparency:
A participant pays 32bps (0.32%)
annually on their plan assets plus a $20 headcount fee, regardless of how many
accounts, in administrative fees annually. The weighted average investment
management fee for the Trust’s investment options is currently 13bps.
THERE ARE NO
OTHER FEES, including no revenue sharing fees associated with many mutual
funds.
What that means is a participant with a $10,000 account balance pays $65 (using