Core Plus Bond _ PGIM Fund.pdf
PDF 490 KB Posted
- Attached to
- T2327 - Defined Contribution Retirement Program Administrative Services: NJSEDCP & NJDCRP
- Solicitation number
- 26DPP01201
- Issued by
- New Jersey
About this file
This is a bond fund document related to the Core Plus Bond PGIM Fund, submitted in support of the State of New Jersey Department of the Treasury's solicitation for defined contribution retirement plan administrative services (T2327). The document provides investment fund information relevant to the NJSEDCP and NJDCRP retirement plans, which collectively serve 163,987 participants with approximately $6.1 billion in total assets. The procurement requires the selected vendor to provide comprehensive recordkeeping and administration services for both a 457(b) governmental deferred compensation plan (41 remitting locations) and a 401(a) defined contribution plan (750 active locations) across 1,814 participant locations. The optional pre-quote conference is scheduled for December 23, 2025, at 10:30 AM Eastern Time, with electronic questions due by January 5, 2026, at 2:00 PM. Quotes are due February 20, 2026, at 2:00 PM. The base contract term is five years with two optional extension years.
The pricing structure requires bidders to submit fixed flat dollar-per-participant pricing that encompasses implementation, conversion, administration, recordkeeping, education, and trustee expenses, with revenue sharing from investments rebated to participants. The current incumbent contractor is Empower (formerly Prudential). All plan expenses are borne by participants, with the State seeking a single-source provider. Required qualifications include a minimum of five years' experience administering bundled 401(a) and 457(b) services, 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. The selected vendor must provide one dedicated on-site representative and ten full-time field service representatives, with professional liability insurance of at least $2,000,000 per claim and cyber breach insurance of not less than $10,000,000 per occurrence. No small business or disabled veterans' business set-asides apply to this procurement.
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File details come from the government source that posted it. Updated .