COMPETITIVE SOLICITATION – NO. 2027-01

FOR

WASHINGTON SAVES PROGRAM ADMINISTRATION AND INVESTMENT MANAGEMENT SERVICES

Interested bidders: On behalf of the Washington Saves Governing Board (“Board”), thank you for your interest in contracting with the State of Washington to provide services for the Washington Saves Retirement Savings Program (“Program”). To ensure a fair and transparent procurement process that is open to all qualified vendors, Washington’s Procurement Code for Goods/Services (RCW 39.26) requires that this procurement be conducted through a competitive solicitation process.

The Competitive Solicitation consists of this document and the exhibits included in the summary table attached as Appendix A – Summary Table of All Included Exhibits & the Required Bid Submittals.

This Competitive Solicitation is organized into the following four sections and one appendix:

· Section 1 – Opportunity: Describes the opportunity for Bidders, including what services are being solicited, anticipated service categories, award structure, and scope of included services.

· Section 2 – Competitive Solicitation Process: Describes the procurement process for this Competitive Solicitation.

· Section 3 –Submitting A Bid: Details how Bidders prepare and submit a bid.

· Section 4 – Bid Evaluation: Details how the Board, with support from Washington Saves staff (“staff”) and the Washington Department of Financial Institutions (“DFI”) and in consultation with the Department of Enterprise Services (“DES”), will review and evaluate bids to determine Contract awards.

· Appendix A: Summary Table of All Exhibits & the Required Bid Submittals.

SECTION 1 – OPPORTUNITY

This section identifies the services that Bidders may propose to provide if awarded a Contract. It also describes the anticipated service categories, award structure, and scope of services for the Washington Saves Retirement Savings Program.

1.1. SERVICE CATEGORIES. The Board is utilizing this Competitive Solicitation to solicit bids from innovative, qualified Bidders to provide services for the Program that, at a minimum, meet or exceed the mandatory minimum specifications for the Services and the mandatory minimum performance requirements for Bidders who are awarded a Contract as set forth in Exhibit D – Contract including the Statement of Work set forth in Exhibit A of Exhibit D-Contract.

The Board is the governing body responsible for the oversight, design, implementation, and administration of the Program and serves as trustee of the Washington Saves Trust ("Trust"), as defined in Chapter 19.05 of the Revised Code of Washington (RCW).

The Board seeks qualified Bidders to provide one or more of the following categories of services:

1. Program Administration Services, including services necessary to implement, administer, operate, and support the Program, such as employer and participant recordkeeping, IRA administration, custodial services, customer service, Program website and platform operations, reporting, data security, compliance support, marketing and communications support, and related administrative services.

2. Investment Management Services, including services necessary to provide, manage, monitor, and report on investment options for the Program in accordance with the investment objectives, policies, and governing documents established by the Board.

Washington Saves seeks a limited, low-cost investment lineup (designed for a state-facilitated Auto-IRA program) serving primarily first-time savers, where most participants are expected to remain in the default investment option. Proposals should focus on a small number of clearly defined, broadly diversified options. Washington Saves is currently evaluating an investment lineup generally consistent with state-facilitated Auto-IRA programs currently in operation, which may include:

i. A capital preservation fund or liquidity option for initial/default contributions;

ii. Target Date Retirement Funds;

iii. A limited menu of core investment options (e.g. equity and fixed income options); and

iv. Other optional investment offering(s) that may support participant choice and alignment with participant values (e.g. ESG and other values-based investment options) Washington Saves may utilize multiple providers across the investment lineup, and respondents are not required to provide solutions for all components.

3. Integrated Program Administration and Investment Management Services, for Bidders that propose to provide both Program Administration Services and Investment Management Services, either directly or through affiliates, subsidiaries, subcontractors, or other service providers.

Bidders may submit a bid for Program Administration Services, Investment Management Services, or an integrated proposal that includes both categories of services, whether provided directly or through affiliates, subsidiaries, subcontractors, or other service providers. The Board may award one or more Contracts through this Competitive Solicitation. Additional service requirements are set forth in Exhibit A of Exhibit D – Contract.

1.2. CONTRACT AWARD STRUCTURE. The Board may award one or more Contracts through this Competitive Solicitation. The Board intends to evaluate bids by service category and may award Contracts for Program Administration Services, Investment Management Services, or Integrated Program Administration and Investment Management Services, as determined to be in the best interest of the Program as set forth below:

Contract Category. The Board intends to award Contracts, by specified Contract Category and subcategory for each of the following three (3) Contract Categories:

· Contract Category 1 – Program Administration Services.

· Contract Category 2 – Investment Management Services.

· Subcategory 1 – Capital Preservation/Liquidity Option: Investment option focused on preserving principal and maintaining liquidity, typically through low-risk, short-term investment exposures.

· Subcategory 2 – Target Date Retirement Funds: A suite of diversified, age-based investment options designed to automatically adjust asset allocation over time, aligning with a participant’s expected retirement date.

· Subcategory 3 – Growth/Equity Option: Investment option(s) focused on long-term capital appreciation, typically through diversified equity exposure.

· Subcategory 4 – Income/Fixed Income Option: Investment option(s) focused on income generation and lower volatility, typically through diversified fixed income exposure.

· Subcategory 5 – Additional/Optional Investment Option: Other optional investment offering(s) that may support participant choice and alignment with participant values (e.g. ESG and other values-based investment options) which may be implemented across equity, fixed income, or multi-asset structures.

· Contract Category 3 – Integrated Program Administration and Investment Management Services.

The Board reserves the right to award a Contract to a single Bidder that proposes to provide both Program Administration Services and Investment Management Services; to award separate Contracts for Program Administration Services and Investment Management Services; to award Contracts to multiple Investment Managers for each category and/or subcategory; or to make no award in one or more categories or subcategory.

Bidders may submit bids for one or more service categories. Bidders submitting an integrated proposal must clearly state whether the proposal may be evaluated and awarded separately for Program Administration Services and Investment Management Services, or whether the proposal is offered only as an integrated package. The Board will evaluate and award bids consistent with the terms of the proposal and in the best interest of the Program.

1.3. ESTIMATED CONTRACT VALUE AND PRICING STRUCTURE. No previous contracts have been executed for these services for the Program, and the Board does not represent or guarantee any minimum purchase, revenue, assets under management, number of accounts, or level of Program participation.

Bidders must identify all proposed cost elements in their bids, including any participant fees, State-paid implementation or startup costs, investment expenses, transaction fees, and any optional third-party or payroll integration costs. Proposed pricing may include costs paid by the State, costs paid by participants, asset-based fees, fixed account fees, investment expense ratios, or other pricing components, as applicable to the services proposed.

The Board will evaluate proposed pricing as set forth in Exhibit C – Bid Price and the evaluation criteria in this Competitive Solicitation. Except as provided in the resulting Contract, there shall be no additional costs of any kind.

SECTION 2 – COMPETITIVE SOLICITATION PROCESS

This section describes the procurement process for this Competitive Solicitation, including:

· Information about the purpose of the Competitive Solicitation;

· The form and term of the intended Contract(s);

· Important deadlines for this Competitive Solicitation;

· Information about the Pre-Bid Conference;

· Where to direct questions or concerns regarding the Competitive Solicitation;

· Limits on Bidder communications during the Competitive Solicitation process;

· Information about the complaint, debrief and protest process; and

· The process for potential amendments or modifications to the Competitive Solicitation.

2.1. PURPOSE OF THE COMPETITIVE SOLICITATION. The Competitive Solicitation is a required formal process for the Board to receive competitive bids from interested Bidders to evaluate pursuant to described criteria and, as appropriate, award one or more Contracts for the specified Services.

2.2. CONTRACT FORM & TERM. As set forth in Exhibit D – Contract, the initial Contract term is anticipated to be seven (7) years. The Board may, at its discretion and subject to the terms of the Contract, extend the Contract for up to three (3) additional one-year renewal periods. The Contract is subject to earlier termination as set forth in Exhibit D – Contract.

Bidders must specify pricing for the full initial Contract term and identify any proposed pricing adjustments, renewal-period pricing, participant fees, asset-based fees, investment expenses, implementation costs, ongoing administrative costs, or other cost components as required in Exhibit C – Bid Price.

2.3. COMPETITIVE SOLICITATION DEADLINES. The following table identifies important dates for this Competitive Solicitation:

Note: As required by Washington law, this Competitive Solicitation is posted to Washington’s Electronic Business Solution (“WEBS”). See RCW 39.26.150. Interested Bidders must register in WEBS. In the event there are amendments to this Competitive Solicitation, amendments will be posted to WEBS. Similarly, in the event of any timely Bidder questions, including questions raised during the Pre-Bid Conference or the Question & Answer Period, written responses will be posted to WEBS.

COMPETITIVE SOLICITATION DEADLINES

at 10:00am (Pacific Time) Attend via Teams Weblink: https://teams.microsoft.com/meet/225734653781345?p=v46ccTFjENe4xh5D8S Call In: (833) 322-1218, 279892848#

11:59 pm (Pacific Time)

11:59 pm (Pacific Time)

2.4. PRE-BID CONFERENCE. The Board will host a virtual Competitive Solicitation Pre-Bid Conference at the date and time set forth in Section 2.3, above. Bidders are encouraged to attend and participate, but attendance is not mandatory.

The Pre-Bid Conference is intended to:

· Familiarize Bidders with Washington’s requirements for governmental procurements of services;

· Explain the Competitive Solicitation; and

· Allow Bidders to raise questions or concerns regarding the Competitive Solicitation.

As practicable, the Board may discuss Bidder questions or concerns that are raised during the Pre-Bid Conference at that time. Nonetheless, to ensure fairness to all potential Bidders, official responses to Bidder questions will be provided in writing and posted to WEBS during the question and answer period. Assistance for disabled, blind, or hearing-impaired persons who wish to attend the Pre-Bid Conference is available with prior arrangement by contacting the Procurement Coordinator.

2.5. NOTICE OF INTENT TO SUBMIT. Prospective Bidders are requested to notify Washington Saves by email if they currently anticipate submitting a bid. The notice should identify the Bidder and the category or categories for which the Bidder anticipates submitting a response.

Submission of a Notice of Intent is requested but not required and is provided for planning purposes only. Failure to submit a Notice of Intent will not affect a Bidder’s eligibility to submit a Bid and will not be considered in the evaluation of Bids.

Notices of Intent should be submitted by September 3, 2026 to info@wasaves.wa.gov.

2.6. COMPETITIVE SOLICITATION QUESTIONS. Questions or concerns regarding this Competitive Solicitation must be directed to the following Procurement Coordinator:

· NAME: JONATHAN HERRERA

· Email: info@wasaves.wa.gov The Procurement Coordinator will answer Bidder questions in writing, with responses posted to Washington’s Electronic Business Solution (“WEBS”). Bidders are encouraged to submit questions regarding the Competitive Solicitation as early in the process as possible to allow the Procurement Coordinator to consider and respond.

Maximum Number of Bidder Questions: Any Bidder may ask up to 20 total questions. Each question must be for a single topic and may not include multipart questions. Enterprise Services may reject Bidder questions that do not follow these guidelines to ensure the question and answer process is efficient and timely.

Note: If Bidders have questions or concerns regarding the Contract, see Exhibit D – Contract, Bidders must raise such questions or concerns, in writing, to the Procurement Coordinator before the Deadline for Submitting Questions stated in Section 2.3, above. The Board does not intend to negotiate substantive terms and conditions pertaining to the resulting Contract(s) at Contract award.

2.7. BIDDER COMMUNICATION DURING COMPETITIVE SOLICITATION. During the Competitive Solicitation process, all Bidder communications regarding this Competitive Solicitation must be directed to the Procurement Coordinator. Bidders should rely only on this Competitive Solicitation and written amendments to this Competitive Solicitation issued through the Procurement Coordinator. In no event will oral communications regarding this Competitive Solicitation be binding. Unauthorized Bidder contact regarding this Competitive Solicitation with Board members, Washington Saves staff, DFI staff, DES staff, evaluation team members, consultants, or other state employees involved with the Competitive Solicitation may result in Bidder disqualification.

2.8. COMPLAINTS, DEBRIEFS, & PROTESTS. This Competitive Solicitation and resulting Contract award(s) are subject, as applicable, to complaints, debriefs, and protests, as set forth in the Agency Contracting Guide, which may impact the dates set forth above.

Bidder complaints must be submitted by email to the Procurement Coordinator no later than five (5) business days before the Deadline for Submitting Bids stated in Section 2.3. Complaints may be based only on the following:

· The Competitive Solicitation unnecessarily restricts competition;

· The Competitive Solicitation evaluation or scoring process is unfair or flawed; or

· The Competitive Solicitation requirements are inadequate or insufficient to prepare a response.

Debrief requests must be submitted in writing to the Procurement Coordinator no later than three (3) business days after the announcement of Apparent Successful Bidder(s).

Protests must be submitted to the Protest Officer stated below and must comply with applicable DES protest requirements.

2.9. COMPETITIVE SOLICITATION – AMENDMENT & MODIFICATION. The Board reserves the right to amend and modify this Competitive Solicitation. Only Bidders who properly have registered and downloaded this Competitive Solicitation directly via the Washington Electronic Business Solution (WEBS) will receive subsequent notifications of amendments and other correspondence pertinent to this Competitive Solicitation. Bidders must be registered in WEBS to be awarded a Contract. Visit WEBS to register. It is the Bidder’s responsibility to read any amendments. Failure to address changes included in any amendments can result in disqualification of a proposal.

SECTION 3 – SUBMITTING A BID

This section identifies how to prepare and submit a bid to the Board for this Competitive Solicitation. In addition, Bidders must review and follow the Competitive Solicitation requirements, including those set forth in the exhibits, which identify the information that Bidders must provide to the Board to constitute a responsive bid. By responding to this Competitive Solicitation and submitting a bid, Bidders acknowledge having read and understood the entire Competitive Solicitation and accept all information contained within this Competitive Solicitation.

3.1. BID FORMAT. Required Bid Submittals must be complete, legible, signed, and follow all instructions stated in the Competitive Solicitation, including the exhibits. Unless otherwise specified in writing by the Board, Required Bid Submittals and permitted ancillary documents must be prepared and delivered in MS Word, MS Excel, or Adobe PDF. Where required to do so, Bidders may sign Required Bid Submittals using either a physical or electronic signature.

3.2. BID SUBMITTALS. BIDDERS MUST REVIEW EACH DOCUMENT LISTED IN APPENDIX A – SUMMARY TABLE OF ALL INCLUDED EXHIBITS & THE REQUIRED BID SUBMITTALS AND SUBMIT RESPONSES TO EACH AS REQUIRED.

3.3. SUBMITTING BIDS. Bidders must email Required Bid Submittals to info@wasaves.wa.gov. Please note:

· Bidder’s email, including all attachments, must not exceed 30MB in size.

· The Board will not accept or open zipped files.

· The Board will acknowledge bid receipt by responsive email. If Bidder does not receive such acknowledgement within five (5) business days, Bidder must contact the Procurement Coordinator to confirm acknowledgement of bid receipt. Acknowledgement of bid receipt is not a determination on the bid’s responsiveness.

3.4. ADDITIONAL BID SUBMITTALS. Bidders may not provide unsolicited materials. For any supplemental materials expressly required by the Board in writing, Bidders must identify such supplemental materials with Bidder’s name.

3.5. PUBLIC RECORDS. Submitted bids and any supplemental Bidder materials pertaining to this Competitive Solicitation are subject to Washington’s Public Records Act (RCW 42.56), and, in the event of a public records request, will be disclosed unless statutorily exempt from disclosure. The Board, the Washington State Department of Financial Institutions (“DFI”), and the Department of Enterprise Services (“DES”) strongly discourage Bidders from unnecessarily submitting sensitive information, including information Bidders may categorize as “confidential,” “proprietary,” “sensitive,” “trade secret,” or similar.

· If, in Bidder’s opinion, Washington’s Public Records Act provides an applicable statutory exemption from disclosure for certain portions of Bidder’s bid, please mark the precise portion(s) of the relevant page(s) of the bid that Bidder believes are statutorily exempt from disclosure and identify the precise statutory basis for exemption from disclosure.

· In addition, if, in Bidder’s opinion, certain portions of Bidder’s bid are not statutorily exempt from disclosure but are sensitive because these particular portions of Bidder’s bid (NOT including pricing) include highly confidential, proprietary, or trade secret information (or the equivalent) that Bidder protects through the regular use of confidentiality or similar agreements and routine enforcements through court enforcement actions, please mark the precise portion(s) of the relevant page(s) of Bidder’s bid that include such sensitive information.

In the event that the Board, DFI, or DES receives a public records disclosure request pertaining to information that Bidder has submitted and marked either as (a) statutorily exempt from disclosure; or (b) sensitive, the entity responding to the public records request (“Public Records Entity”), prior to disclosure, will do the following:

· The Public Records Entity will review any records marked by Bidder as statutorily exempt from disclosure. In those situations where Bidder’s designation of the precise portion(s) of the relevant page(s) of Bidder’s bid aligns with the stated precise statutory exemption from disclosure, the Public Records Entity will redact or withhold the precise portion(s) of the relevant page(s) of Bidder’s bid document(s), as appropriate.

· For documents marked by Bidder as “sensitive” or for documents where the Public Records Entity either determines that no statutory exemption to disclosure applies or is unable to determine whether the stated precise statutory exemption to disclosure properly applies, the Public Records Entity will notify Bidder, at the address provided in the bid submittal, of the public records disclosure request and identify the date that the Public Records Entity intends to release the document(s), including documents marked “sensitive” or exempt from disclosure, to the requester unless Bidder, at Bidder’s sole expense, timely obtains a court order enjoining the Public Records Entity from such disclosure. In the event Bidder fails to timely file a motion for a court order enjoining such disclosure, the Public Records Entity will release the requested document(s) on the date specified. Bidder’s failure to properly identify exempted or sensitive information, or to timely respond after notice of request for public disclosure has been given, shall be deemed a waiver by Bidder of any claim that such materials are exempt or protected from disclosure.

SECTION 4 – BID EVALUATION

This section identifies how bids will be reviewed and evaluated for this Competitive Solicitation.

4.1. OVERVIEW. Bids will be reviewed and evaluated for this Competitive Solicitation as described below. The Board will conduct the evaluation through a designated evaluation team, which may include Washington Saves staff, DFI staff, subject matter experts, consultants, and other individuals designated to support the evaluation process.

· Bid Review: The evaluation team will review bids to determine bid responsiveness as stated in Section 4.2, below.

· Bid Evaluation: The evaluation team will evaluate responsive bids as stated in Sections 4.3 – 4.5, below.

· Procurement Authority Discretion. The Board reserves the right to:

a) Request Bidder clarification regarding any bid;

b) Waive any informality;

c) Reject any or all bids, or portions thereof;

d) Cancel the Competitive Solicitation and, if desired, re-solicit bids; and/or

e) Negotiate with responsive and responsible Bidder(s) to determine whether such bids can be improved.

Bids will be evaluated within the service category or categories for which the Bidder submits a response. Integrated proposals may be evaluated as an integrated package or, if the Bidder authorizes separate consideration and provides sufficient information, by individual service category. A package-only Integrated Bid will be considered only for an integrated award and will not be considered for a separate Program Administration Services or Investment Management Services award.

The evaluation team will use the following process and evaluation criteria to evaluate bids and support Contract award decisions:

See Section 4.2, below

Review Bidder’s Required Bid Submittals to determine whether Bidder’s bid is responsive to the Competitive Solicitation Pass/Fail

Exhibit D – Contract Review whether Bidder’s Services and/or Bidder’s performance capability meets the mandatory minimum performance specifications for the Competitive Solicitation Pass/Fail

See Section 4.3, below

Exhibit B – Scored Non-Cost Factors Evaluate and score Bidder’s response to stated non-cost factors including, as applicable, Bidder’s Services and/or Bidder’s performance capability that exceeds mandatory minimum performance specifications for the Competitive Solicitation Cat. 1: 70 Cat. 2: 55 Cat. 3: 70

Exhibit C – Bid Price Evaluate and score Bidder’s cost factors Cat. 1: 30 Cat. 2: 45 Cat. 3: 30

Subtotal:

(Each Individual Category)

See Section 4.4, below

See Section 4.5, below

Bidder Responsibility Analysis Review and determine Bidder responsibility Pass/Fail

See Section 4.6, below

See Section 4.7, below

See Section 4.8, below

4.2. BID RESPONSIVENESS (STEP 1A). The evaluation team will review bids – on a pass/fail basis – to determine whether the bid complies with the Competitive Solicitation requirements and, therefore, is ‘responsive.’ If the evaluation team determines that a bid is nonresponsive, the Board will reject the bid and notify the Bidder, in writing, that the bid is nonresponsive. Such written notification will include a brief explanation as to why the bid is nonresponsive.

DES or the Board, at their discretion, may waive informalities in a bid. An informality is an immaterial variation from the exact requirements of the Competitive Solicitation, having no effect or merely a minor or negligible effect on quality, quantity, or delivery of the goods or the quality, capability, or performance of the services being procured, and the correction or waiver of which would not affect the relative standing of, or be otherwise prejudicial, to Bidders.

Consistent with the Washington State Legislature’s policy goals to reduce barriers to competition and increasing opportunities for small businesses to contract with state agencies, DES or the Board, at their discretion, may clarify a Bidder’s bid that is in substantial compliance with the instructions. Clarifications are intended to ensure that the bids are complete and can be evaluated fairly.

· REVIEW BIDDER’S REQUIRED BID SUBMITTALS (STEP 1A). The evaluation team will review each bid to determine whether:

· The bid is complete – i.e., does Bidder’s bid include each of the Required Bid Submittals as stated in Appendix A – Summary Table of All Exhibits & the Required Bid Submittals;

· Bidder’s Required Bid Submittals are complete, consistent with the instructions, signed, and legible; and

· Bidder’s certifications, as provided by Bidder in Bidder’s submitted Exhibit A – Bidder’s Certification, constitute a responsive bid.

· REVIEW MINIMUM REQUIRED PERFORMANCE REQUIREMENTS (STEP 1B). The evaluation team will review each bid to determine whether Bidder’s Services and Bidder’s performance capability meets the minimum required specifications and performance requirements stated in Exhibit D – Contract. The Board reserves the right to request additional Bidder information or perform tests and measurements before selecting Apparent Successful Bidders. If Bidder fails to provide such requested information within five (5) business days, Bidder may be disqualified.

4.3. BID EVALUATION: SCORED FACTORS (STEP 2A). The evaluation team will evaluate and score responsive bids, separately by specified Contract Category and, for investment management services, by applicable subcategory, as set forth below and in Exhibits B and C.

Note: It is imperative that Bidder’s Required Bid Submittals (see Appendix A – Summary Table of All Exhibits & the Required Bid Submittals) comply with the instructions set forth in the exhibits.

Integrated Bids may be evaluated both as an integrated package and, if the Bidder authorizes separate consideration and provides sufficient information, by individual service category. A package-only Integrated Bid will be considered only for an integrated award and will not be considered for a separate Program Administration Services or Investment Management Services award.

· NON-COST FACTORS (STEP 2A). The evaluation team will evaluate and score the specified non-cost factors stated in Exhibit B – Scored Non-Cost Factors by evaluating Bidder’s response, including, as applicable, Bidder’s Services and/or Bidder’s performance capability that exceeds the stated minimum required performance specifications. Non-cost factors will be weighted as follows:

i. CATEGORY 1 – Program Administration Services: 70 points

ii. Category 2 – Investment Management Services: 55 points

iii. Category 3 – Integrated Program Administration and Investment Management Services: 70 points Category 2 Bids will be evaluated separately within each applicable Investment Management subcategory. A Bidder proposing Investment Options in more than one subcategory may receive a separate evaluation and score for each applicable subcategory.

Detailed non-cost requirements, available points, and scoring criteria are set forth in Exhibit B.

The Board reserves the right to request additional Bidder information, clarifications, demonstrations, interviews, or other evaluation activities before selecting Apparent Successful Bidder(s). If Bidder fails to provide requested information within five (5) business days, Bidder may be disqualified.

· COST FACTORS – BID PRICING (STEP 2B). The evaluation team will evaluate and score Bidder’s cost factors as provided in Bidder’s Exhibit C – Bid Price. Cost factors will be weighted as follows:

i. CATEGORY 1 – Program Administration Services: 30 points

ii. CATEGORY 2 – Investment Management Services: 45 points

iii. CATEGORY 3 – Integrated Program Administration and Investment Management Services: 30 points Category 2 cost proposals will be evaluated separately by applicable Investment Management subcategory. Within each subcategory, the Bid offering the lowest applicable Total Investment Expense will receive the maximum available cost points, and other Bids will receive proportionately fewer points as specified in Exhibit C.

For Category 3, the 30-point Cost Proposal consists of 27 points for Program Administration costs and 3 points for Investment Management costs, as further described in Exhibit C.

Detailed cost elements, formulas, assumptions, and scoring methodologies are set forth in Exhibit C – Bid Price.

· OPTIONAL DEMONSTRATIONS (STEP 4). Bidder scores from Step 2.A and Step 2.B will determine the top two Bidders who may be invited to participate in demonstrations. The Board, at its sole discretion, may request that top-ranked Bidder(s) participate in a presentation, interview, system demonstration, or other evaluation activity. Demonstrations and/or interviews may vary based on the service category or categories for which the Bidder submits a response.

For Program Administration Services and Integrated Program Administration and Investment Management Services, Bidders may be asked to provide a live tour of the proposed public website, employer portal, employee/participant portal, administrative tools, reporting dashboards, and any other systems or tools proposed to support the Program. The demonstration may include, but is not limited to, a walk-through of employer registration, exemption or compliance certification, adding and managing employees, submitting and correcting payroll contributions, participant enrollment and opt-out, account access, contribution rate changes, investment election changes, additional contributions, distributions, account documents, customer service features, language access, accessibility features, and reporting or data export functionality. Bidders also may be asked to provide sample reports, dashboard views, Board reporting materials, and other representative reporting outputs.

For Investment Management Services, the Board may request a presentation or interview regarding the Bidder’s proposed investment options, investment approach, fiduciary process, fees and expenses, participant-facing investment materials, performance reporting, and experience supporting state-facilitated retirement savings programs or similar public savings arrangements.

Following the demonstration, presentation, or interview, the evaluation team may ask questions regarding implementation, user experience, system functionality, accessibility, cybersecurity, data reporting, investment design, governance, service model, communication style, responsiveness to feedback, and other matters relevant to the Bidder’s proposed services.

4.4. WASHINGTON STATE PROCUREMENT PRIORITIES & PREFERENCES (STEP 3). This Competitive Solicitation is subject to the Washington state procurement priorities and/or preferences stated below (collectively, “Washington Procurement Priorities for Goods/Services Contracts”). Accordingly, the evaluation team will evaluate Bidder’s bid to determine (a) whether Bidder is requesting to be considered for such Washington Procurement Priorities for Goods/Services Contracts; and (b) whether Bidder’s bid qualifies for such Washington Procurement Priorities for Goods/Services Contracts. The Board will score qualifying bids and adjust Bidder’s total evaluation score accordingly.

· PROCUREMENT PREFERENCE FOR BIDDER COMPLIANCE WITH EXECUTIVE ORDER 18-03. The Board will provide a bid preference in the amount of 3 points to Bidders who certify, pursuant to Exhibit A – Bidder’s Certification, that Bidder complies with Executive Order 18-03.

· PROCUREMENT PREFERENCE FOR A WASHINGTON SMALL BUSINESS. The Board will provide a bid preference in the amount of 3 points to Bidders who certify, pursuant to Exhibit A – Bidder’s Certification, that Bidder is a Washington Small Business.

· PROCUREMENT PREFERENCE FOR CERTIFIED VETERAN OWNED BUSINESS. The Board will provide a bid preference in the amount of 3 points to Bidders who certify, pursuant to Exhibit A – Bidder’s Certification, that Bidder is a Certified Veteran Owned Business.

4.5. BIDDER RESPONSIBILITY DETERMINATION (STEP 5). The Washington State Legislature requires that Washington state agencies award contracts for goods/services only to ‘responsible bidders.’ See RCW 39.26.160(2). Accordingly, to be eligible to be considered for a Contract award resulting from this Competitive Solicitation, the Board must determine that Bidder is a ‘responsible bidder.’ Accordingly, the Board, with support from the evaluation team, will make reasonable inquiry to determine bidder responsibility on a pass/fail basis. In determining bidder responsibility, the Board will consider the following:

· Bidder’s certifications as provided in Bidder’s Exhibit A – Bidder’s Certification;

· Bidder’s ability, capacity, and skill to perform the Contract or provide the Services for the applicable service category or categories;

· Bidder’s character, integrity, reputation, judgment, experience, and efficiency;

· Bidder’s ability to perform the Contract within the time specified;

· Bidder’s performance quality pertaining to previous contracts or services;

· Bidder’s compliance with laws relating to the Contract or services;

· Whether, within the three-year period immediately preceding the date of the Competitive Solicitation, Bidder has been determined by a final and binding citation and notice of assessment issued by the Washington State Department of Labor and Industries or through a civil judgment entered by a court of limited or general jurisdiction to have willfully violated, as defined in RCW 49.48.082, any provision of chapter 49.46, 49.48, or 49.52 RCW; and

· Such other information as may be secured having a bearing on the decision to award a Contract.

In addition, the Board may consider the following:

· Financial Information: The Board, DES, or the evaluation team may request financial statements, credit ratings, references, record of past performance, clarification of Bidder’s bid, on-site inspection of Bidder's or subcontractor's facilities, or other information as necessary to determine Bidder’s capacity to perform and the enforceability of Bidder’s contractual commitments. Failure to respond to these requests may result in a bid being rejected as non-responsive.

· References: The evaluation team reserves the right to use references to confirm satisfactory customer service, performance, satisfaction with service/product, knowledge of products/service/industry and timeliness. Any negative or unsatisfactory reference can be reason for rejecting a Bidder as non-responsible.

The Board may request bidder responsibility information from Bidder. If Bidder fails to provide such information within five (5) business days, Bidder may be disqualified.

4.6. ANNOUNCEMENT OF APPARENT SUCCESSFUL BIDDER (STEP 6). The Board will determine the Apparent Successful Bidder(s) (“ASB(s)”). The ASB(s) will be the responsive and responsible Bidder(s) who best meet the Competitive Solicitation requirements and present the best total value based on the evaluation criteria stated above, including as applicable by service category.

· ASB designation does not imply that the Board will issue a Contract award. Rather, this designation allows the Board to perform further analysis and ask for additional documentation. Bidders must not construe ASB designation as an award, impending award, attempt to negotiate, etc. If a Bidder acts or fails to act as a result of such notification or designation, it does so at its own risk and expense.

· Upon announcement of ASB(s), Bidders may request a debrief conference as stated in Section 2.7.

4.7. BID INFORMATION AVAILABILITY (STEP 7). Upon the Board’s announcement of ASB(s):

· All bid submissions and all bid evaluations are subject to public disclosure pursuant to Washington’s Public Records Act. See RCW 39.26.030(2).

· The Board will post bid evaluations to WEBS. In addition, the Board intends to post winning bid submissions after Contract award(s), subject to applicable public disclosure requirements and any lawful redactions.

4.8. CONTRACT AWARD(S) (STEP 8). Subject to protests, if any, the Board and the ASB(s) will enter into Contract(s) as set forth in Exhibit D – Contract. An award, in part or full, is made, and a Contract formed, by signature of the Board and the awarded Bidder on the Contract. Following Contract award(s), all Bidders registered in WEBS will receive a Notice of Award delivered to the Bidder’s email address provided in Bidder’s WEBS profile.

4.9. ADDITIONAL AWARDS. The Board reserves the right, during the resulting Contract term, to make additional Contract award(s) to responsive, responsible Bidder(s) who provided a bid but who were not awarded a Contract, to the extent permitted by applicable procurement requirements. Such award(s) would be on the same or substantially similar terms and conditions and may be made to address an awarded Contractor vacancy, respond to Program needs, add or replace services within a service category, support investment option changes, or otherwise serve the best interest of the Program and the State of Washington.

APPENDIX A – SUMMARY TABLE OF ALL INCLUDED EXHIBITS & THE REQUIRED BID SUBMITTALS This Competitive Solicitation includes each of the exhibits identified below in the Summary Table of All Included Exhibits & Required Bid Submittals. The Summary Table also identifies required bid submittal and what actions, if any, Bidders timely must complete as part of a responsive bid submission.

BID

SUBMITTAL

Exhibit A – Bidder’s Certification Identifies required information that Bidder must provide and states required Bidder certifications.

Required

Exhibit B – Scored Non-Cost Factors Includes separate response forms for Program Administration Services (Category 1), Investment Management Services (Category 2), and Integrated Program Administration and Investment Management Services (Category 3).

Identifies scored performance requirements for Bidder’s Services and/or Bidder’s performance capability that exceed the minimum required specifications set forth in Exhibit D – Contract and provides Bidders an opportunity to compete to demonstrate additional value that will be evaluated and scored.

Bidder must complete Exhibit B – Scored Non-Cost Factors form applicable to the service category for which the bidder is submitting a bid, as specified therein, and submit it as part of Bidder’s bid.

Note: Awarded Bidders who receive evaluation points for any included Non-Cost Scored Performance Specifications will be required to include such additional performance specifications for Bidder’s Services and/or Bidder’s Performance in the awarded Contract.

Yes Required

Exhibit C – Bid Price Includes separate pricing sections for Program Administration Services, Investment Management Services, and Integrated Program Administration and Investment Management Services.

Provides the template and bid pricing information that Bidders must use to provide bid pricing.

Required

Exhibit D – Contract Provides the Contract form that awarded Bidders will execute with the Board.

Bidder must review Exhibit D – Contract and timely submit to the Procurement Coordinator, in writing, any issues pertaining to the Contract terms and conditions during the Question & Answer Period.

Note: Bids that are subject to substantive Contract modifications that the Board has not agreed to and that the Board has not included in an amended/revised Exhibit D – Contract, posted to WEBS, will be rejected as nonresponsive.

No

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