Calvert Equity Fund Class.pdf

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Attached to
T2327 - Defined Contribution Retirement Program Administrative Services: NJSEDCP & NJDCRP
Solicitation number
26DPP01201
Issued by
New Jersey

About this file

This is a Request for Quotes document issued by the State of New Jersey Department of the Treasury, Division of Purchase and Property, soliciting comprehensive administrative services for two defined contribution retirement plans: the New Jersey State Employees Deferred Compensation Plan (NJSEDCP), a 457(b) governmental plan, and the New Jersey Defined Contribution Retirement Program (NJDCRP), a 401(a) plan. The selected vendor will provide turnkey recordkeeping and administration services, including participant account management, investment administration across 27 investment options, educational services, customer support, and employer-level services. The procurement serves approximately 41 remitting locations for the 457(b) plan and 750 active locations for the 401(a) plan, collectively serving 163,987 unique participants across 1,814 participant locations with total assets of approximately $6.1 billion. An optional pre-quote conference is scheduled for December 23, 2025, at 10:30 AM Eastern Time. Electronic questions are due by January 5, 2026, at 2:00 PM, with quotes due February 20, 2026, at 2:00 PM. The base contract term is five years with options to extend up to two additional years.

Required qualifications include over five years of experience administering bundled services for 401(a) and 457(b) plans, management of at least five defined contribution plans with a minimum of 50,000 participants, and ability to provide assets on a group contract basis. Bidders must submit pricing on a fixed flat dollar-per-participant basis, including implementation, conversion, administration, recordkeeping, education, and trustee expenses, with revenue sharing from investments rebated to participants. The contract requires one dedicated on-site representative and ten full-time field service representatives. Insurance requirements include professional liability insurance of at least $2,000,000 per claim and cyber breach insurance of not less than $10,000,000 per occurrence. The incumbent contractor is Empower (formerly Prudential). No small business or disabled veterans' business set-asides apply to this procurement. All plan expenses are borne by participants, with the State seeking a single-source service provider to manage both retirement plans comprehensively.

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