Supplemental Savings Plans Administrator Services

The Vendor is required to provide primarily a defined benefit pension plan for employees of the state, counties, municipalities, universities, community colleges, school districts, and other political entities.
- Provide to establish one or more contracts to provide administration and record-keeping services for the Plans.
- The Plans are authorized under sections 457(b), 403(b), and 401(a) of the Internal Revenue Code (IRC). The Plans offer eligible employees a convenient tax-deferred savings vehicle to save additional funds for retirement. 
- The Plans permit participants to direct the investment of their pre-tax contributions.
- The Plans are intended to provide eligible employees the opportunity to generate long-term accumulation of supplemental savings through pre-tax and Roth-type employee contributions and the earnings thereon that are placed in individual participant accounts. 
- The Plans are designed to assist participants in preparing for a portion of their retirement income needs.
- The Plans will enable participants to take an active role in their supplemental tax-deferred savings by providing education and information so they may make informed decisions about participation and investment option selections.
- The investment structure of the Plans will allow participants to create portfolios by allocating their funds among a group of prudently selected and monitored investment options that together constitute a broad range of asset classes and investment styles
- The Plans will offer a broad range of investment options so that each participant and beneficiary has a reasonable opportunity to materially affect the potential return and degree of risk relating to his or her accounts, to choose from diversified investment options, and to diversify his or her investment to reduce risk.
- The Plans will offer a selection of investment options which may include open-ended registered investment companies (i.e., mutual funds), Collective Investment Trusts (CITs), or similar investment options, each of which consists of internally diversified (in the context, internally diversified means that the fund invests in a variety of underlying investments and not simply the stock and bond offerings of a few organizations) portfolios within their asset categories.

- Contract Period/Term: 3 years
- Questions/Inquires Deadline: January 09, 2026