NIGP 94672: Retirement Planning Servcies

NIGP 94672 Retirement Planning Services, an Item code, encompasses third-party administration and advisory services for governmental deferred compensation plans, investment portfolios, and defined-benefit or defined-contribution pension vehicles. State and local governments are currently soliciting bundled recordkeeping, compliance, participant education, investment platform management, and trustee services for IRC Section 457(b) deferred compensation plans; Section 115 retirement trusts; 403(b) plans for school districts; and employee pension plans. Issuing bodies include city governments, county boards of commissioners, independent school districts through education service center consortiums, flood control districts, and public housing authorities. The code sees activity across municipalities of varying size, from small cities to large metropolitan areas, alongside special-purpose districts and multi-district consortiums aggregating demand for cost efficiency.

Recent solicitations show concentration in Texas, California, and Georgia. The City of Brookside Village, Texas posted RFP 2026-45 on October 8, 2026 (proposals due November 4, 2026) for a 457(b) plan administrator and service provider requiring transparent fee structures, $2 million errors-and-omissions insurance, and five years of experience administering governmental 457(b) plans for at least ten public-sector employers including three Texas entities. The City of Milpitas, California issued RFP 26262 on October 1, 2026 (proposals due September 24, 2026) for investment advisory services across two separately awarded packages: the City Investment Portfolio comprising $378.4 million in current assets, and Section 115 Trust services holding $46 million in market value. Harris County, Texas solicited 457(b) plan administration (RFP 260193, due October 5, 2026), and the City of Lubbock, Texas sought 457(b) recordkeeping and administration (RFP 26-19659-KM, due June 11, 2026) to consolidate three existing plans representing $38.2 million in assets. Education Service Center Region 4 in Texas posted RFP 403B2601 (due November 9, 2026) for 403(b) plan services across member school districts. Douglas County Board of Commissioners in Georgia requested financial advisor services (Solicitation 26-028, due October 28, 2026) encompassing long-range financial planning, debt analysis, and bond structuring. Successful proposers typically must demonstrate five years' minimum experience, current administration of $1 billion or more in retirement plan assets or comparable governmental plan experience, errors-and-omissions and cyber liability insurance ($1 million to $3 million), and the ability to provide transparent, all-in fee disclosures and revenue sharing detail.