UNSPSC 64102005: Individual retirement account IRA, public sector

A type of retirement plan designed for public sector employees, tax-exempt organizations and religious organizations. These are called 403b plans in the United States.

UNSPSC 64102005 Individual retirement account IRA, public sector is a Commodity code. State and local governments soliciting under this code are actually procuring investment management, consulting, and administration services for employee retirement plans — 457(b) deferred compensation plans, 403(b) tax-sheltered annuities, pension funds, endowments, and other tax-advantaged savings vehicles. The work spans portfolio management and advisory services; plan administration and recordkeeping; fiduciary consulting; investment policy development; fund performance monitoring and reporting; and participant education. Recent solicitations show both narrowly defined single-engagement procurements and standing-vendor-pool structures where issuers award multiple consultants or administrators to draw on as-needed. Issuing bodies include city and county treasurers, public college and university finance offices, municipal water districts, housing authorities, and special-purpose state authorities such as the Texas Comptroller (on behalf of various state trust funds and pooled investment vehicles) and the Teacher Retirement System of Texas. No single issuer dominates the recent activity block; the work is widely distributed across jurisdictions of varying size and type.

The geographic spread concentrates in Texas — the Texas Comptroller, TRS, Texas Southern University, Wharton County Junior College, Lubbock, and Southmost College all posted solicitations within the recent window — with secondary activity in Florida (Hillsborough County, City of Sarasota, City of Charlotte North Carolina, Collin County Community College, and others). A representative recent opportunity is the Texas Comptroller's solicitation 240L for TexPool and TexPool Prime investment management and related services (RFP, due September 2, 2026), managing approximately $58.4 billion in combined assets across roughly 3,700 participants, with the incumbent Federated Hermes charging 4.5–5.5 basis points and the contract running through December 31, 2032 with an optional two-year extension. A second example is the City of Sarasota's RFP #26-36HR for investment consulting services for an OPEB Trust Fund holding approximately $60 million (RFP, due August 19, 2026), seeking asset-based fee structures and awarding a one-year term with two optional one-year renewals. Collin County Community College District's RFQ for non-discretionary portfolio management of a $520 million portfolio (RFQ, due February 11, 2026) and the City of Lubbock's RFP 26-19659-KM consolidating three separate 457(b) plans representing $38.2 million in assets under a bundled recordkeeping and administration contract (RFP, due June 11, 2026) show the range of portfolio sizes and service bundling models in active play.