403B Bid FY26.pdf

NEEDHAM PUBLIC SCHOOLS

1330 Highland Avenue Needham, MA 02492

April 2026

REQUEST FOR PROPOSALS (RFP)

#27SCH001G

INDEPENDENT THIRD PARTY ADMINISTRATION OF

403(b) COMPLIANCE PROGRAM

The Needham Public School District, as the lead district for a Collective Purchasing Group, seeks writtenproposalsfromqualified,independentThird-PartyAdministrators(TPA)toassistinterestedSchool Districts within the Collective Purchasing Group with the implementation and operation of each School District's403(b)andrelatedprogramsandactasThirdPartyAdministrator("TPA")foreachprogram. The responsibilities for implementation and operation are defined in the Scope of Work.

The RFP covers thethree year period beginning, January1, 2027 through December 31, 2029.

Request for Proposal packages will be available from the Office of theNeedham Public Schools Assistant Superintendent for Finance and Operations, 1330 Highland Avenue, Needham, MA 02492, or may be downloaded fromhttp://www.needhamma.gov/bids.aspx beginning,April 10, 2026 at 9:00 AM.

Proposals are returnable to theOffice of the AssistantSuperintendent for Finance and Operations, 1330 Highland Avenue, Needham, MA 02492no later than10:00AM, May 11, 2026, at which time and place they will be opened in the presence of one or more witnesses. LATE PROPOSALS will not be accepted.

The Town reserves the right to reject any and all proposals as determined to be in the interests of the Town and to waive minor informalities.

Bids will be awarded by the Needham School Committee, acting through the Superintendent.

Daniel Gutekanst Superintendent of Schools Town of Needham Needham, Massachusetts http://www.needhamma.gov/bids.aspx

Needham Public Schools Procurement in Brief

Primary Procurement Contact

Melane Bisbas School Business and Operations Coordinator 1330 Highland Avenue Needham, MA 02492 Phone: 781-455-0400 x 11204 melane_bisbas@needham.k12.ma.us

Event Date Details

Title INDEPENDENT THIRD PARTY ADMINISTRATION OF 403(b) COMPLIANCE PROGRAM

Contract Number #27SCH001G

RFP Available April 10, 2026 9:00 AM

Request for proposal packages are available from the Office of the Assistant Superintendent for Finance and Operations, 1330 Highland Avenue, Needham, MA 02492, or may be downloaded from http://www.needhamma.gov/bids.aspx.

Bidders who access bid materials from the Town’s website are responsible for acknowledging receipt of those materials using the Acknowledgement of Receipt form found in Appendix B and for checking the website periodically for any addenda that may be issued.*

Pre-Bid Meeting No Prebid is Scheduled Proposal Presentation May be requested

Deadline for Written Questions

April 24, 2026 12:00 PM

Needham Public Schools will not respond to questions submitted after the above date.

Questions must be submitted in writing, via fax, email or US post to:

Melane Bisbas School Business and Operations Coordinator 1330 Highland Avenue Needham, MA 02492 Phone: 781-455-0400 x 11204 melane_bisbas@needham.k12.ma.us Oral communications are not binding on the School Department. Responses to questions submitted in writing will be forwarded to all persons on record as having received the RFP.

Addenda

If any changes are made to this RFP, an addendum will be issued. Addenda will be mailed or faxed or emailed to all bidders on record as having received the RFP. Addenda also will be posted to the Town of Needham bid website athttp://www.needhamma.gov/bids.aspx.

When and Where are Bids Due?

May 11, 2026 10:00 AM

LATE PROPOSALS will not be accepted.

Bids are due to the Office of the Assistant Superintendent for Finance and Operations, 1330 Highland Avenue, Needham, MA 02492 by the due date and time. If, on the bid due date, the above office is closed due to uncontrolled events such as fire, snow, ice, wind, or building evacuation, the bid opening will be postponed to the next normal business day (M-F, excluding holidays.) Bids will be accepted at the same location until that date and time.

Number of Required Copies One original + 3 copies of all forms

Bid Opening May 11, 2026 10:00 AM

Sealed proposals are NOT publicly opened. Proposals will be opened in the presence of one or more witnesses. A list of bidders will be made available after the submission deadline.

Bid Surety (Bond) Requirements None Required Contract Award Award will be made within 90 business days after the bid opening.

Contract Length 3 Years

Upon Award of Contract Payment Bond None Required Performance Bond None Required Insurance Refer to Contract Terms *Bid Acknowledgement It is recommended (but not required) that bidders acknowledge receipt of the bid package using the Acknowledgement of Receipt form found inAppendixC. Bidders who complete and return this acknowledgement will be entered as a bidder of record in the Bid Distribution Register, thereby ensuring that they will receive notification of any addenda or answered questions related to this bid. Bidders who do not complete and return the Acknowledgement Form are responsible for checking the website regularly for any addenda that are issued to this bid.

TABLE OF CONTENTS

I. General Information & Instructions to Bidders 5

1. Questions 6

2. Bid Addenda 6

3. Pre-Bid Conference 7

II. Basis for Use of Competitive Sealed Proposals (RFP) 10 III. Contract Award and Bidder Qualifications 10-12 IV. Purchase Description and Scope of Services 13 V. Comparative Evaluation Criteria 21

BID FORMS

BID FORM I- BID CHECKLIST 24

BID FORM II-BIDDER INFORMATION AND STATEMENT OF QUALIFICATIONS 25

BID FORM III- PRICE PROPOSAL 30

ATTACHMENT A- EXCEL FORM 31

BID FORM IV- CERTIFICATES OF COMPLIANCE WITH

MASSACHUSETTS TAX LAWS AND NON-COLLUSION 34

BID FORM V- CERTIFICATE OF CORPORATE VOTE 35

APPENDIX A- MASTER AGREEMENT 36

APPENDIX B- DISTRICT AGREEMENT 44

APPENDIX C- ACKNOWLEDGMENT OF RECEIPT 51

NEEDHAM PUBLIC SCHOOLS

1330 Highland Avenue Needham, MA 02492

April 2026

INDEPENDENT THIRD PARTY ADMINISTRATION OF

403(b) COMPLIANCE PROGRAM

REQUEST FOR PROPOSALS (RFP)

#27SCH001G

I. INFORMATION & INSTRUCTIONS TO BIDDERS

1. Collective Procurement:

The Needham Public School District, as the Lead District for a Collective Purchasing Group (CPG), seeks written proposals from qualified, independent Third Party Administrators (TPA) to assist interested School Districts within the Collective Purchasing Group with theimplementation and operation of each School District's 403(b) and related programs and act as Third Party Administrator("TPA")foreachprogram. Theresponsibilitiesforimplementationandoperationare defined in the Scope of Work.

The Massachusetts public school districts and public school collaboratives that comprise the Collective Purchasing Group (CPG) are: Acton-BoxboroughRegional, Andover Public Schools, Arlington, Ashland, Assabet Valley Collaborative, Athol Royalston Regional School District, Ayer Shirley Regional, Bedford, Brookline, Canton, Carlisle, Concord, Concord-Carlisle Regional, Danvers, Essex North Shore Agricultural & Technical School District, Edgartown, Everett, Franklin, Georgetown, Greater Lawrence Technical, Greater Lowell Technical, King Philip Regional School District, Lee, Lexington, Lincoln, Lincoln-Sudbury Regional, Lunenburg, Lynnfield, Manchester-Essex Regional, Marblehead, Marlborough, Martha’s Vineyard Regional, Narragansett Regional School District, Natick, Needham, New Bedford, North Middlesex Regional, Northampton, Northborough, Northborough-Southborough Regional School District, Oak Bluffs, Pentucket Regional School District, Pittsfield, Quabbin Regional School District, Reading, Saugus, Silver Lake Regional, South Coast Educational Collaborative, South Middlesex Regional Vocational Technical School District/ Joseph P. Keefe Technical School, South Shore Educational Collaborative, Southborough, Southeastern MA Educational Collaborative, Stoneham, Stoughton, Sudbury, Tewksbury, Tisbury, Up-Island Regional, Walpole, Wayland, Wellesley, Westford, Weston, Whittier Regional Vocational Technical High School, Wilmington, Winchendon, Winchester, and Woburn(collectively referred to as the "CollectivePurchasing Group").

Needham Public School District is the Lead District for the Collective Purchasing Group, with responsibilityfortheprocurementuptoandincludingawardofacontract(MasterAgreement). The Lead District will form a committee to evaluate Technical Proposals based on the Minimum Evaluation Criteria and the Comparative Evaluation Criteria set forth in this RFP, and the Price Proposals.

The contract (Master Agreement) resulting from this RFP will be up to three years (36 months.)

Each district in the Collective Purchasing Group will have the ability and authority to access the services of the TPA under the Master Agreement. However, CPG member districts are under no obligation to do so.

TheLeadDistrictreservesitsrighttorejectanyandallproposals,asdeterminedtobeintheinterest of the Collective Purchasing Group, and to waive any informalities.

2. Questions:

Bidders must read these specifications carefully. Questions about the specifications shall be submittedin writing via fax, email or U.S. posttothe address specified below, no later thanApril 24, 2026, 12:00 PM. Needham Public Schools will notrespond to questions submitted after that date.

Melane Bisbas School Business and Operations Coordinator 1330 Highland Avenue Needham, MA 02492 Phone: 781-455-0400 x 11204 melane_bisbas@needham.k12.ma.us

Bidders also take note that ORAL COMMUNICATIONS ARE NOT BINDING ON THE SCHOOL DEPARTMENT. The School Department will respond to all questions submitted in writing and will forward responses to all persons on record as having received the RFP.

3. Downloading Bid Documents from the Town of Needham website:

Bid documents, including addenda, may be downloaded from the Town of Needham website at http://www.needhamma.gov/bids.aspx. Bidders whoaccess bid materials from the Town’s website are responsible for acknowledging receipt of those bid materials using the Acknowledgement of Receipt form found inAppendix Cand for checkingthe website periodically for any addenda that may be issued.

4. Bid Acknowledgement:

It is recommended (but not required) that bidders acknowledge receipt of materials that have been downloaded from the Town of Needham website using the Acknowledgement of Receipt form found inAppendix C. Bidders who complete and return thisacknowledgement upon download, will be entered as a bidder of record in the Bid Distribution Register, thereby ensuring that they will receive notification of any addenda or answered questions related to this bid. Bidders who do not complete and return the Acknowledgement Form are responsible for checking the website regularly for any addenda that are issued to this bid.

5. Bid Addenda:

If any changes are made to this RFP, an addendum will be issued. Addenda will be mailed, faxed or emailed to all bidders on record as having received the RFP. Addenda also will be posted to the Town of Needham bid website athttp://www.needhamma.gov/bids.aspx.

6. Pre-Bid Conference:

No pre-bid conference is scheduled

7. When and Where are Bids Due?

Bids will be received by the Assistant Superintendent for Finance and Operations, Needham Public Schools, 1330 Highland Avenue, Needham, MA 02492, untilMay 11, 2026, 10:00 AMat which time and place they will be opened in the presence of one or more witnesses. This is not a public bid opening.

8. Unexpected Closure or Delays:

If, at the time of the scheduled bid submission deadline, the designated location for delivery of the bid is closed due to uncontrollable events such as fire, snow, ice, wind or building evacuation, the bid opening will be postponed to the next normal business day (M-F, excluding holidays at the same designated time.) Bids will be accepted at the same location until that date and time.

9. Late Submissions:

Bids received after the date and time specified shall not be considered. Neither the Lead District nor any CPG member district will be liable for late submissions due to mail, courier or delivery delays.

10.Submission Requirements:

A. Proposals consist of a non-price (technical) proposal and a price proposal. The non-price proposal must be submitted separately from the price proposal, in a sealed envelope marked “Non-Price Proposal.” Price proposals must be submitted in a separate, sealed envelope marked “Price Proposal.” INCLUSION OF ANY PRICE INFORMATIONIN THE NON-PRICE

PROPOSAL, OR ANY COPY THEREOF, SHALL BE THE CAUSE FOR REJECTION OF

THE ENTIRE PROPOSALS, WITHOUT EXCEPTION.

B. Bids are to be prepared and submitted on the bid forms provided herein. Bids submitted on other forms, which are incomplete, or which are not signed, may be rejected.

C. A bid must be signed as follows: 1) if a bidder is an individual, by him/her personally; 2) if the bidder is a partnership, by the name of the partnership, followed by the signature of each general partner; and 3) if the bidder is a corporation, by the authorized officer, whose signature must be attested to by the Clerk/Secretary of the corporation and the corporate seal affixed.

D. A complete proposal will includeONE ORIGINAL andTHREE COPIESof the following forms, in the designated quantities, completed in full and appropriately signed:

Non-Price (Technical) Proposal – One Original +3 Copies Cover Letter Table of Contents Bid Form I Checklist of Bid Forms

Bid Form II Bidder Information & Statement of Qualifications, Including Attachments

Bid Form IV Bid Form V

Certificate of Compliance with Massachusetts Tax Laws & Non-Collusion Certificate of Corporate Vote

Price Proposal – One Original +3 Copies Bid Form III Price Proposal

E. As part of the evaluation of the Technical Proposal, and before evaluation of the Price Proposal, the Evaluation Committee may require Proposers’ lead staff person(s) who would be assigned to the contract, to make an oral presentation and be interviewed. Bidders will be notified if an oral presentation will be required.

11.Premature Bid Opening

Neither the Lead District nor any CPG member district will be liable for the premature opening of any bid not properly identified.

12.Bid Modifications or Withdrawals

Bidders may correct, modify or withdraw a bid prior to the submission deadline. Requests to do so must be received before the time and date set for the bid opening. Bid modifications must be submitted in a sealed envelope clearly labeled “Modification No.____.” Each modification must be numbered in sequence, and must reference the original bid.

After the submission deadline, bidders may not change the price or any other provision of the bid in a manner that is prejudicial to the interests of the governmental body or fair competition. The Lead District will waive minor informalities or allow the bidder to correct them. If a mistake and the intended bid are clearly evident on the face of the bid document, the Lead District will correct the mistake to reflect the intended correct bid, and will notify the bidder in writing. A bidder may withdraw a bid if a mistake is clearly evident on the face of the bid document but the intended correct bid is not similarly evident.

13.Rejection of Bids

The Lead District reserves the right to reject in whole or in part any and all bids, if the Lead District determines that cancellation or rejection serves the best interests of the Lead District or CPG.

14.Bonds

No bonds are required to be provided under this RFP.

15.Uniform Procurement Act (MGL Ch30B)

Bids shall be prepared, considered, and the Contract awarded in accordance with Massachusetts General Law (M.G.L.) Chapter 30B, the Uniform Procurement Act.

16.Prices Firm for 90 Days

All bid prices submitted in response to this RFP must remain firm for ninety (90) days following the bid opening, until a contract is executed, or the RFP is canceled, whichever occurs first.

17.Taxes

CPG member districts are exempt from any taxes imposed by state/federal government. Exemption certificates will be supplied by each district upon entering into a commitment for services with the selected TPA.

18.Public Records

Under Massachusetts General Laws, the Needham Public Schools cannot assure the confidentiality of any materials or information that may be submitted in response to this Bid. Vendors who choose to submit confidential information, do so at their own risk. All materials submitted by the vendor in response to this Bid will be open for inspection by any person and in accordance with Massachusetts General Laws, Chapter 66 (Public Records Law.) Any statements reserving any confidentiality or privacy rights in the submitted responses or otherwise inconsistent with these statues will be void and disregarded. Unless specifically addressed by statute, the Town may charge five cents ($0.05) per page for photocopies. The Town may charge the actual cost of reproducing a copy of a record that is not susceptible to ordinary means of reproduction, such as large computer records or over-sized plans. The Town may charge and recover a fee for the time in excess of two hours that an employee spends searching, redacting, photocopying and re-filing a record. The Town will provide a written, good faith estimate of the applicable copying, search time and segregation time fees to be incurred prior to complying with a public records request. The cost of performing a search and segregation of records generally will not exceed $25.00 per hour.

19.Conflict of Interest

By executing a contract under this RFP, the Bidder acknowledges that the Lead District and CPG member districts are a municipality or public collaborative for the purposes of Massachusetts General Laws, Chapter 268A (the Massachusetts Conflict of Interest statue), and agrees, as circumstances require, to take actions and to forbear from taking actions so as to be in compliance at all times with the obligations of the contractor based on said statute.

20.Other Notices

A. Bid evaluation and contract award will be made without regard to race, color, sex, age, handicap, religion, political affiliation or national origin.

B. The Bidder shall adhere to the provisions of the Fair Employment Practices Law of the Commonwealth (Massachusetts General Laws, Chapter 151B).

C. The provisions relating to non-discrimination and affirmative action in employment shall flow through all contracts and subcontracts that the successful Bidder may receive or award as a result of this contract.

D. Any services provided by the Bidder shall be rendered through a professional services contract;

the Bidder will not be considered an employee of the Lead District or any member of the CPG and will not receive any benefits of an employee.

E. The Bidder shall comply with Massachusetts General Laws, Chapter 66A if the Bidder becomes a "holder" of "personal data". The Bidder shall also protect the physical security and restrict any access to personal or other CPG member district data in the Bidder's possession, or used by the Bidder in the performance of the Contract, which shall include, but is not limited to the CPG member district’s public records, documents, files, software, equipment or systems.

II. BASIS FOR USE OF COMPETITIVE SEALED PROPOSALS(RFP)

The Lead District has determined that selecting the most advantageous proposal for an “Independent Third Party Administration of 403(B) Compliance Program” will require comparative judgments of factors in addition to price, including: the quality of the overall proposal, the quality of the proposed plan of service, bidder experience within the 403(b) market space, the number of plans offered by the bidder and the number of participants served, participant capacity, the qualifications and experience of key personnel, communication protocols, vendor software and infrastructure and the quality of references provided.

III. CONTRACT AWARD & BIDDER QUALIFICATIONS

1. Rule for Award/ Master Contract Issuance:

A. The Lead District will award one Master Agreement for Independent Third Party Administration of 403B Compliance Program to the responsive and responsible bidder providing the most advantageous proposal over the three-year contract period,January 1, 2027 through December 31, 2029. The Master Contract will incorporate allterms and conditions included in this RFP and the accepted terms and conditions of the Contractor’s proposal.

B. The Lead District will award the Master Contract under this bid within ninety (90) business days after the opening of the bids.

C. Should there be a reason why the Master Contract cannot be awarded within the time referenced herein, the time for award may be extended for up to 45 additional days by mutual agreement between the Lead District and the successful bidder.

D. The Lead District reserves the right to reject any and all proposals as determined to be in the best interest of the Lead District or CPG and to waive minor informalities.

E. The successful bidder must enter into the Master Contract Agreement with the Lead District (Appendix A), or a contract in substantially similar format. Each CPG member district who chooses to access the services of the bidder under the Master Agreement will execute a separate District Agreement with the successful bidder (Appendix B), or a contract in substantially similar format.

F. This Contract is subject to cancellation if funding is not appropriated or otherwise not made available. The Contract may be canceled at the discretion of either party, with ninety (90) days written notice to the other party.

G. The award will be subject to satisfactory reference checks, conducted by the Lead District.

H. In case of default by the TPA, the declaration of which shall be at the sole discretion of the Lead District, the Lead District and the member districts of the Collective Purchasing Group may procure the services from other sources and the defaulting TPA shall be liable for any and all costs in excess of the contract price occasioned by or resulting from such default.

2. Member District Contract Issuance:

A. A CPG Member District who chooses to access the services available under the Master Agreement will execute a separate contract with the winning bidder. In no case will the Master Contract awarded by the Lead District guarantee a commitment from any or all CPG member districts. Each district will make its own decision to execute an agreement or not with the winning bidder.

B. The Member Districts who choose to enter into an agreement with the winning bidder will execute the Member Services Agreement found in Appendix B, or a contract in substantially similar format.

Any commitment that is made between a Member District and the TPA is conditioned upon an annual appropriation made by that member district of funds sufficient to pay compensation due the TPA under the terms and conditions of the Master Agreement contract. If such an appropriation is not made in any fiscal year and the member school district lacks funds from other sources to pay the compensation due under contract, the member school district is entitled, at the beginning of or during such fiscal year, to terminate its commitment with the TPA under the terms of the Master Agreement contract. In that event a member school district will not be obligated to make any payments under the Master Agreement contract beyond the amount properly appropriated for its commitment payment in the immediate fiscal year. The member school district will provide the TPA with written notice of the member school district’s termination of its commitment due to the non-appropriation of funds at least thirty (30) calendar days before the effective date of the termination. Any member school district’s failure to provide such notice will not extend that district’s commitment into a fiscal year in which funds for payments have not been appropriated by that district. Such termination by a member school district’s commitment will not terminate the Master Agreement contract nor any other member school district’s commitment for services from the TPA. Only the Lead District, acting on behalf of the Collective Purchasing Group, can terminate the Master Agreement.

3. Proposed Bid Schedule:

ACTIVITY DATE

Release RFP April 10, 2026 9:00 AM Deadline for Submission of Questions April 24, 2026 12:00 PM Deadline for Submission of Proposals May 11, 2026 10:00 AM Evaluation of Proposals May/June 2026 Interview Finalists, if needed May/June 2026 Announcement of Award (if any) July/August 2026 District Implementation August-December 2026

4. Bidder Qualifications:

A. To be considered qualified under this bid:

a. Bidders must provide all services specified herein, and comply with all bid submission requirements.

b. Bidders must supply all documentation required by this RFP, including evidence of satisfactory ability and experience to execute the requirements, specifications, and conditions of this Bid. The Lead District may require a bidder to clarify information provided in response to the RFP, or to submit additional evidence to demonstrate satisfactory ability and experience. Failure to provide documentation may result in the disqualification of the Proposer’s bid as non-responsive.

c. As part of the evaluation of the Technical Proposals, and before evaluation of the Price Proposals, the Evaluation Committee may require Proposers’ lead staff person(s) who would be assigned to the contract, to make an oral presentation and be interviewed.

d. The Lead District reserves the right to solely determine what constitutes satisfactory evidence of adequate ability, experience and/or capital to execute the bid requirements under this section.

B. The Lead District reserves the right to investigate the financial responsibility of any and all bidders to determine what assurance the owner may have of subsequent service. It further reserves the right to withhold contract award when the bidder is unable to furnish satisfactory evidence of adequate ability, experience and/or capital to execute the completion of a project in accordance with the prescribed requirements, specifications and conditions of the Bid Documents.

5. Estimated Quantities:

Unless otherwise stated, the quantities identified herein are ESTIMATES ONLY, given for informational purposes and as a basis for comparison of bids. Actual quantities may be more or less than the estimates provided herein.

6. Selection Process

1. Proposals will be evaluated in a two-stage process by a Technical Review Committee and the School Procurement Officer.

i. Proposals first will be reviewed by a Technical Review Committee, consisting of the Needham Public Schools Assistant Superintendent for Finance and Operations, or designee, and representatives of select CPG participating school districts. This Committee will review the non-price proposals that meet the minimum requirements identified in Section IV.3.1 and the Submission Requirements outlined in Section I.10, without knowledge of price. Proposals will be judged based on the comparative evaluation criteria described in Section V. At the conclusion of the evaluation, the Committee will prepare a summary evaluation of the non-price proposals and will submit the summary evaluation to the School Procurement Officer for review.

ii. As part of the evaluation of the Technical Proposal, and before evaluation of the Price Proposal, the Evaluation Committee may require Proposers’ lead staff person(s) who would be assigned to the contract, to make an oral presentation and be interviewed.

iii. After the evaluation of the non-price proposal is completed, the School Procurement Officer will then open the price proposals.

2. The School Procurement Officer will determine the most advantageous proposal, taking into consideration both the Technical Review Committee’s evaluation of the non-price proposals, as well as the price proposals, and will submit this recommendation to the Superintendent.

3. The Needham School Committee, acting through its Superintendent, will award the contract as Lead District to the responsive and responsible bidder offering the most advantageous proposal.

IV. PURCHASE DESCRIPTION & SCOPE OF SERVICES:

1. Introduction and Purpose

The purpose of this solicitation is toprocureplanadministration,professionalreview,andIRStax and regulatory compliance services for the Collective Purchasing Group member school districts’ 403(b) tax-deferred investment programs, which are funded primarily from voluntary salary deductions made by the School Districts’ employees.

ThisRFPisforindependentadministrativeservices. Theproposersmustunderstandthatiftheyare selectedasTPAunderthisprocess,theywouldnotbeeligibletobidonortoprovideanyinvestment productsforCPGmemberdistrictsortheiremployees. ThisRFPisdesignedtosecureinformation aboutindependentthird-partyservices,notinvestmentproducts. PleasenotealsothattheTPAwill not keep individual participant account balances; investment vendors will be responsible for maintaining their participants' account balances. The TPA will be responsible for gathering information about individual account balances when necessary to perform its functions under a contract. The specific items in the Scope of Work are defined in Section IV.2.

1.1. The Lead District has authority to seek proposals for TPA services on behalf of the Collective Purchasing Group.

1.2. Each CPG member School District maintains independent payrolls, which are processed according to each member School District's schedule.

1.3. The CPG member School Districts have a total of approximately 30,000 employees. This estimate is provided for information purposes only; the actual number of 403(b) plan participants may vary from year to year and will likely be less than the total number of eligible employees. Additionally, there is no guarantee that all members of the CPG will hire the TPA who is awarded this contract.

1.4. It is the intent to award a contract to an independent qualified TPA firm to provide compliance services based on the IRS 403(b) regulations to the most advantageous proposer who is an independent qualified TPA firm.

1.5. The Lead District reserves the right to cancel the TPA contract at any time by giving the successful proposer 60 days written notice.

1.6. The Lead District and the CPG member districts accept no financial responsibility for costs incurred by any proposer in responding to this RFP.

1.7. The winning bidder shall carry and provide evidence of professional malpractice or Errors and Omissions liability insurance with minimum limits of $1,000,000 per occurrence, $2,000,000 aggregate, with a maximum deductible of $ 25,000. In addition, the Contractor shall, before commencing performance of this contract, provide for the payment of compensation and the furnishing of other benefits by an insurance company duly licensed to do business in accordance with Massachusetts General Laws, Chapter 152, as amended, to all employed under the Agreement and shall continue such insurance in full force and effect during the term of the contract.

2. Scope of Services

The Scope of Work for an Independent Third Party Administratorinvolvessevengeneralareasof service or functions for 403(b) and similar pre-tax salary contribution or deferral programs:

authorizations,monitoring,tracking,disbursing,communicating,customerserviceandauditing.The following is the detailed Scope of Work that must be furnished by the successful Proposer:

a. 2.1 Review the written plan document for each participating district to ensure that it is compliant with IRS requirements. The plan document should be customized to the needs of each individual participant district. Proposals should describe procedures for reviewing the plan documents, as well as for restating plan documents to meet IRS requirements.

b. 2.2 Review existing Service Provider and Information Sharing Agreements from 403(b) providers, and update as needed. Facilitate and verify the signing Service Provider Agreements with new 403(b) providers and facilitate and verify the signing of acceptable service provider agreements. The specific 403(b) providers may vary by district. Under this agreement, individual districts reserve the right to solely determine which 403(b) providers will provide services to their employees. Proposals must include sample forms for review, sample information obtained from investment providers, and the procedures for obtaining these documents and maintaining compliance.

c. 2.3 Review existing employee Salary Reduction Agreements ("SRA") to verify compliance with Internal Revenue Code and applicable regulations. Develop and maintain all employee files to ensure that each participating employee has a compliance salary reduction agreement on file. Review new and revised Salary Reduction Agreements within three (3) business days of receipt. Proposals must include a sample salary reduction agreement for review and Proposer’s procedures for obtaining these documents and maintaining compliance.

d. 2.4 Perform the necessary administrative and compliance duties, responsibilities and activities that will be shifted to your organization as the TPA from the School District or other third party administrator. This includes facilitating the transfer of employee information from the incumbent TPA, if different from the successful Proposer under this

RFP.

e. 2.5 Maintain compliance of all agreements, forms, documents and procedures.

f. 2.6 Oversee plan activities to ensure compliance with state and federal regulations by all parties.

g. 2.7 Resolve administrative and compliance issues that arise, including communication between the TPA, investment vendors/providers, any financial broker representative and each School District.

h. 2.8 Provide assistance and represent the member School District in the event of a federal or state audit. Maintain compliance checklists for Districts.

Employee/ Employer Account Administration:

i. 2.9 Manage the enrollment process and the flow of information and money between the participant, member School Districts, the Contractor and the investment vehicles.

j. 2.10 Communicate Salary Reduction Agreement payroll changes to and from the School District and from and to the investment vendors/providers, and establish notification procedures.

k. 2.11 Provide common remitting services for 403(b) contributions, promptly remitting all funds to participating vendors. Proposals should describe: a) Proposer's current periodic dollar volume for such services today (monthly, annually,etc.), b) Proposer's time for remittance of the contributions to providers once received in good order from the School District, c) description of Proposer's process (automated or manual), d) description of verification steps included in Proposer's procedures to ensure transmission to and receipt by the providers, and e) description of how the process is audited. Describe any limitations or restrictions on common remitting/paying services.

l. 2.12 Audit individual vendor/ provider activity to ensure contributions are distributed to employee accounts in a timely manner when received. Proposals should describe how the audits would occur.

m. 2.13 Ensure contributions are invested promptly in participant accounts, once received in good order by your organization. Please complete the chart below to describe your standards for performance in participant service by adding the number of days to each item in Columns 2 and 3. Assume all data, wires or other requests are received in reasonably good condition and before your cutoff time for the day. Describe procedures to audit individual vendor/provider activity to ensure contributions are distributed to employee accounts in a timely manner when received.

Column 1 Activity

Column 2 Quality Standard (Business Days)

Column 3 Average Actual (Business Days)

Contribution Reconciliation & Posting

Days from Receipt of Payroll Data Days from Receipt of Payroll Data

Contribution Investment Days from Receipt of Deposit Days from Receipt of Deposit Withdrawals Paid (Paperless) Days from Receipt of Request Days from Receipt of Request Withdrawals Paid (Forms) Days from Receipt of Form Days from Receipt of Form Distribution Paid (Paperless) Days from Receipt of Request Days from Receipt of Request Distribution Paid (Forms) Days from Receipt of Form Days from Receipt of Form Investment Fund Transfers Settled Days from Receipt of Request Days from Receipt of Request Rollovers Into the Plan Processed and Invested

Days from Receipt of Deposit Days from Receipt of Deposit

Confirmations Mailed Days from Execution of Transaction or Request

Days from Execution of Transaction or Request

Participant Statements Mailed Days from Period End Days from Period End

n. 2.14 Monitor and authorize contract exchanges among 403(b) service providers,if permitted by the plan.

o. 2.15 Monitor and authorize plan-to-plan transfers from this 403(b) plan to/from another school's 403(b) plan.

p. 2.16 Monitor and authorize rollovers into the 403(b) plan.

q. 2.17 Track contributions by source (employee deferrals, Roth 403(b), employer contributions) across all investment vendors/providers under the 403(b) plan, and monitor employee deferrals and Roth 403(b) contributions to ensure that additions to the 403(b) programs for each participant are within limits prescribed by Section 415 of the Internal Revenue Code. Describe how you will obtain the information needed for compliance monitoring. Please specify what data format you will require and the frequency with which you will require data feeds from from vendors/providers

r. 2.18 Prevent excess employee salary deferrals and employer contributions. Notify employees and employers of amounts contributed in excess of the applicable IRS contribution limits, if/when it occurs. Define your processing model for accomplishing this and for correcting excess deferrals and excess contributions, if/when they do occur.

s. 2.19 Certify employee qualification and assess and authorize the employee transactions described below in accordance with plan terms. Coordinate distributions from the plan with investment vendors/providers.

2.19.1 Catchupcontributions: a) age50+catchupandb) 15yearsofservicecatchupc) Secure 2.0 (Roth Requirement ) d) “Super” Catch-Up (Ages 60-63)

2.19.2 Roth contributions

2.19.3 Employer contributions

2.19.4 Contract exchanges

2.19.5 Plan-to-plan transfers

2.19.6 Loans

2.19.7 Hardship withdrawals

2.19.8 Qualified Domestic Relations Order (QDRO)

2.19.9 In-service distributions

2.19.10Distributions to correct excess deferrals and contributions

2.19.11Separation from service distributions

2.19.12Rollovers to state retirement plans

2.19.13Rollovers to other eligible retirement plans.

t. 2.20 Assess and authorize hardship withdrawal requests in accordance with the terms of the IRS guidance and the 403(b) plan document,ifpermitted by the plan.

u. 2.21 Notify participants when required minimum distributions (RMD) must begin.

v. 2.22 Determine and authorize the maximum available loan amount upon submission of a participant's request for a loan, if permitted by the plan.

w. 2.23 Notify the School District if a participant defaults on a loan and bar future loans to any employee who has previously defaulted on a loan from the 403(b) program, provided that you have knowledge of such default.

x. 2.24 Notify the 403(b) investment vendors/providers of approved transactions. Proposals should describe notification procedures.

y. 2.25 Monitor for applicable IRS catch-up contributions across all investment vendors/providers under the 403(b) plan and notify employees of eligibility for applicable IRS catch-up contributions.

z. 2.26 Manage all 'grand fathered' or orphaned account activity for compliance with federal and state laws and regulations, including good faith efforts to acquire and maintain information for compliance purposes with investment vendors/providers who may no longer be providing products to active plan participants.

aa. 2.27 Conduct internal audits for federal/state legal compliance for all post-employment plan contributions. The proposal should describe how such audits would occur.

bb. 2.28 Offer employee information meetings and/or benefit fairs on a schedule to be determined by each School District.

cc. 2.29 Provide communications to employees and a methodology to meet compliance requirements of the Universal Availability Rule. Proposals should describe how and when employees would be notified of Universal Availability, how the Proposer would assist the School District in determining employee eligibility for the 403(b) plan and describe procedures for reviewing and identifying any eligibility determination errors.

General Administrative Services:

dd. 2.30 Ensure the secure transfer, and backup protection, of confidential employee data between the TPA, investment vendors/providers, the School District and/or incumbent (prior) TPA. Describe the procedures and security measures in place to maintain the strict confidentiality of employee data on the TPA administrative system from access by any affiliated 403(b) service provider.

ee. 2.31 Maintain a records retention policy for 403(b) plan data that complies with state requirements.

ff. 2.32 Provide an administrative procedure manual to be used by the participating member School Districts to administer the program. This manual shall include master copies of all forms required for the 403(b) processes.

gg. 2.33 Provide compliance monitoring reports to School Districts on employee participation, disbursements, transfers, hardship loans, and other disbursements, and with respect to applicable maximums. Proposals should describe the types and frequency of reports that you would provide to the School District.

hh. 2.34 Provide information to the School District on the latest legal and legislative requirements, and any pending legislation. Proposals should describe how this information will be communicated to Districts.

ii. 2.35 Provide a policy regarding the School District's ownership of the 403(b) plan data with the frequency and format in which plan data transferred to the School District. Provide a copy of your preferred record layout(s) and indicate if you can accept information (or adjustments) by hard copy, if necessary.

jj. 2.36 Provide thestandards your organization has regardingyour data input requirements.

kk. 2.37 Ensure that 403(b) plan administrative services and administrative systems are updated in a timely manner to reflect modifications to federal tax law modifications affecting 403(b) plans. Proposals should describe the procedures for accomplishing this.

ll. 2.38 Maintain a backup and disaster recovery procedures. The proposal must describe the procedures.

mm. 2.39 Provide each participating district with an assigned customer service liaison. The liaison will be responsible for troubleshooting issues/concerns, providing prompt assistance to District administrators and facilitating transactions, as needed. In the event that the District determines that the assigned customer service liaison is unsatisfactory for any reason, another customer service liaison will be assigned.

nn. 2.40 The Proposer agrees to acknowledge the receipt of all new or updated salary reduction agreements, employee contributions, requests for disbursement, transfer, hardship loan, account rollover and other distributions within 48 hours of receipt.

oo. 2.41 Offer districts flexibility in billing for TPA services. Each participating district will determine how TPA fees will be remitted. Proposals should describe TPA billing services, including available options for remitting TPA fees (for example, billing the participant, and/or the employer, and/or the product provider), and the basis for billing (for example, billing based on all participants with account balances, or billing based on the number of participants currently contributing.) Proposers shouldnot include information about fees in their non-price proposals; this information must be provided in a sealed submission on Bid Form III

3. Quality Requirements

1. Proposals must meet the following REQUIRED MINIMUM CRITERIA to be eligible for contract award. If the Lead District determines that a Proposer does not meet one or more of the minimum criteria, the proposal will be considered non-responsive and will be disqualified from further consideration.

3.1.0 As of April 10, 2026 the Proposer must have a minimum of five years of continuous experience in the 403(b) tax sheltered marketplace.

3.1.1 The Proposer must have a minimum offifty(50)403(b)orrelatedtaxsheltered account plans, or a total of at least ten thousand (10,000) participantsthathave active salary reduction agreements in effect.

3.1.2 The Proposer must provide the contact information of clients who are able to verify the information submitted.

3.1.3 The Proposer’skeyindividualsassignedtothisprogrammusthaveatleastthree

(3) years experience servicing 403(b) or related tax sheltered accounts.

3.1.4 The Proposer must submit at least five (5) current references from clients for whom the Proposer has provided administration services for at least five years.

TheclientsmustbeabletoattesttothequalityandperformanceoftheProposer.

Reference information must include client organization name, number of years serviced by the Proposer, contact name, title, address and telephone number.

2. The following additional comparative criteria are DESIRED, but NOT REQUIRED.

The Lead District has determined that selecting the most advantageous proposal for Third PartyAdministrator(TPA)serviceswillrequirecomparativejudgmentoffactorsinaddition toprice,includingbutnotlimitedto: experience,ability,satisfactionofcurrentclients,and ability to handle the potential volume of service required. TheTechnicalCommitteewill make its comparative judgments in the following areas, based on the evaluation criteria identified in Section V.

3.2.1. In evaluating the ability of the TPA to perform the requested scope of work, significant focus will be placed on the TPA's experience in the 403(b) market place and conformity with the requirements of this RFP.

3.2.2. Expertise, experience in the marketplace, industry credentials and availability of individuals presented for servicing to the School District.

3.2.3. Quality and comprehensiveness of services and support for the 403(b) program as described in the Technical Proposal.

3.2.4. Quality of the overall proposal proposal, including any oral presentation.

3.2.5. Experience of the firm and key assigned personnel with 403(b) third party administration experience and memberships in recognized professional associations will be weighted more heavily. The Lead District and Evaluation Committee will consider 401(k) experience, but specific experience in the 403(b) marketplace and with administering annuity based plans as well as mutual fund based plans will be weighted more heavily.

3.2.6. The ability to absorb up to 20,000 new participants will be weighted more heavily.

3.2.7. Using servicing professionals with recognized professional designations in the 403(b) marketplace and those taking and/or teaching professional continuing education classes will be weighted more heavily.

3.2.8. Communication protocols or systems for notification to participants (e.g., approvals of disbursement requests, eligibility for catch-up contributions, need to begin minimum distributions, etc.). Offering on-line access to information and other electronic notification options will be weighted more heavily.

V. COMPARATIVE EVALUATION CRITERIA

Proposals that meet the minimum requirements described in the Scope of Services (Section IV.3.1), will be further evaluated on the comparative criteria listed below. For each criterion, proposals will be assigned a rating of Highly Advantageous, Advantageous or Not Advantageous. After rating each proposal based on the following criterion, an overall rating will be assigned. Criteria that will be used for comparative purposes are listed below.

Criterion Highly Advantageous Advantageous Not Advantageous

Overall Proposal (including Presentation)

The proposal (including presentation, if applicable) was clear, comprehensive and well organized. It addressed all of the information requirements of the RFP in detail.

The proposal (including presentation, if applicable) was generally clear, complete and/or organized. It addressed most, but not necessarily all, of the information requirements and/or provided adequate detail.

The proposal (including presentation, if applicable) was unclear, non-comprehensive and/or poorly organized. A significant number of information requirements were not met, and/or presented in insufficient detail.

Plan of Service The Plan of Service addressed all aspects of the Scope of Services and was perfectly suited to the needs of the CPG.

The Plan of Service addressed most aspects of the Scope of Services and was generally well suited to the needs of the CPG.

The Plan of Service failed to address significant aspects of the Scope of Services and/or was poorly suited to the needs of the CPG.

403B Experience

Proposer has more than 10 years of continuous 403(b) third party administration experience, as of 3/6/20, including servicing public school district plans.

Proposer has 6-10 years of continuous 403(b) third party administration experience, as of 3/6/20, including servicing public school district plans.

Proposer has between 5 years of continuous 403(b) third party administration experience, and/or 5 or more years of non-continuous experience, as of 3/6/20 and/or has no experience servicing public school district plans.

403B Plans The Proposer has 100 or more 403(B) tax-sheltered account

The Proposer has 75-99 403(B) tax-sheltered account

The Proposer has 50-74 403(B) tax-sheltered account plans and/or 20,000 or more participants have active salary reduction agreements in effect.

plans and/or between 15,000-19,999 participants have active salary reduction agreements in effect.

plans and/or between 10,000-14,999 participants have active salary reduction agreements in effect.

Participant Capacity

Proposer has demonstrated that it can absorb 40,000 or more new participants in addition to its current number of participants.

Proposer has demonstrated that it can absorb between 20,000-39,999 new participants in addition to its…