STATE OF TENNESSEE

TREASURY DEPARTMENT

REQUEST FOR PROPOSALS

FOR

RECORDKEEPING, ADMINISTRATION, AND INVESTMENT

OPTIONS FOR THE STATE OF TENNESSEE’S OPTIONAL

RETIREMENT PROGRAM AND PUBLIC HIGHER EDUCATION

403(b) PLANS

RFP # 30901- 65526

RFP CONTENTS

SECTIONS:

1. INTRODUCTION

2. RFP SCHEDULE OF EVENTS

3. RESPONSE REQUIREMENTS

4. GENERAL CONTRACTING INFORMATION & REQUIREMENTS

5. EVALUATION & CONTRACT AWARD

ATTACHMENTS:

6.1. Response Statement of Certifications & Assurances

6.2. Technical Response & Evaluation Guide

6.3. Cost Proposal & Scoring Guide

6.4. Reference Questionnaire

6.5. Score Summary Matrix

6.6. Pro Forma Contract

6.7. Number of Employees and ORP Eligibility Summaries for UT

6.8. Number of Employees and ORP Eligibility Summaries for TBR and LGI’s

6.9. Cash Flow, Activity and Participation Details for each Current ORP

Vendor

6.10. Cash Flow, Activity and Participation Details for each Current 403(b) Plan

Vendor

6.11. Investment Lineups

6.12. Tennessee Treasury Managed Fund Disclosure and Daily Valuation Operating Procedures

6.13. GASB Investment Option Monthly Reporting Template

RFP 30901-65526

1. INTRODUCTION

The State of Tennessee, Treasury Department, hereinafter referred to as “the State,” issues this Request for Proposals (RFP) to define minimum contract requirements; solicit responses; detail response requirements; and, outline the State’s process for evaluating responses and selecting a contractor to provide the needed goods or services.

Through this RFP, the State seeks to procure necessary goods or services at the most favorable, competitive prices and to give ALL qualified respondents an opportunity to do business with the state as contractors, subcontractors or suppliers.

1.1. Statement of Procurement Purpose

The State is seeking competitive proposals from qualified organization(s) to provide recordkeeping/administration; communication/education; in-person and virtual field education; investment advisory; broad, open-architecture investment platforms; and custodial trustee services for the State’s Optional Retirement Program (ORP), the University of Tennessee 403(b) Plan, and the Tennessee Board of Regents 403(b) Plan.

The State is looking for two (2) service providers for both the ORP and 403(b) Plans. These service providers will provide accurate and timely recordkeeping services for both the ORP and 403(b) Plans (collectively, the Plans or Program), administer the Plans within pre-described service standards and assist in the education and retirement security of Program participants. In the event a successful Respondent is an incumbent service provider, the services for the new contract term shall commence on the date provided for in Section B of RFP Attachment 6.6., Pro Forma Contract. In the event a successful Respondent is not an incumbent service provider, these services shall begin no later than September 1, 2027. This RFP will result in the award of two contracts each encompassing the ORP and 403(b) Plans (e.g., Respondent 1 – ORP and 403(b) Plans and Respondent 2 – ORP and 403(b) Plans). Currently, the ORP, Tennessee Board of Regents 403(b) Plan, and University of Tennessee 403(b) Plan maintain separate plan documents. The State may elect to combine the Tennessee Board of Regents 403(b) Plan and University of Tennessee 403(b) Plan into a single plan document in the future.

The State’s goals and objectives for this RFP include:

• Reducing the current fee structure, by lowering participant and Program expenses, through a nationwide competitive bidding process;

• Providing a transparent and equitable fee structure in which third-party administrator/recordkeeping expenses are an explicit charge to participant accounts;

• Enhancing participant support, service, and education;

• Providing participants with the technological and educational tools to set and monitor progress toward holistic retirement readiness goals;

• Streamlining employer reporting, Program administration, and Program compliance activities.

In pursuing these goals and objectives, the State places a high value on the following service provider qualifications:

Experience and Presence in the Higher Education Defined Contribution Market

• Has extensive historical experience, demonstrated expertise, and a significant current presence in the higher education defined contribution marketplace.

Focus on Quality and Consistency of Service Delivery

• Has a customer-focused approach;

• Adheres to successful quality assurance procedures;

• Follows a successful problem resolution methodology;

• Has a history of performing services on a timely basis;

• Performs services correctly and accurately every time;

• Able to receive and process payroll files of multiple frequencies from multiple pay centers;

• Able to perform an active role in all IRS deferral limit monitoring;

• Has the ability to reconcile participant deferral elections (for 403(b) Plans) and statutory contribution requirements (for ORP) with contributions received after each payroll file and produce regular reports indicating instances in which contributions do not match deferrals;

• Able to efficiently make corrections in accordance with the IRS Employee Plans Compliance Resolution System (EPCRS);

• Able to create/disseminate employer education materials, i.e., (i) How to use reporting portal and (ii) Employer “manual” for administrative systems;

• Able to process enrollments and deferral changes submitted by paper form, electronically online, or by telephone;

• Has ample client service staff to support the Plans payroll staff;

• Provides accurate, consistent and timely responses to inquiries;

• Provides reports on quality assurance; and

• Will sign a provider agreement specifying compliance activities to be performed by the service provider.

Proactive Approach to Participant Education and Retirement Readiness

• Provides excellent, comprehensive participant enrollment and onboarding experience that ensures new participants are well-informed about the Plan(s) and key actions they need to take;

• Provides adequate access to in-state, one on one meetings with credentialed, preferably FINRA-certified, field representatives at all campuses served within a reasonable amount of time;

• Provides field representatives that:

• Will provide plan information and retirement planning services with the ability to incorporate assets from other plans into retirement planning;

• Will conduct group meetings on the Plans (i.e. plan orientations) as well as general purpose financial education meetings on a variety of topics (budgeting, market volatility, Social Security, etc.);

• Ability to easily schedule meetings with field representatives and have the meeting occur within a reasonable amount of time;

• Ability to measure participant satisfaction with field representative services;

• Ability to measure outcomes from field representative meetings;

• Ability to measure “retirement readiness” and specifically target those who are lacking in this area with outreach;

• Ability to create and deploy targeted, personalized communications in a variety of media (emails, mailers, videos, etc.) that measurably enhance participant engagement;

• Produces easy to understand, participant-friendly communications that are actionable and informative;

• Provides informed toll-free customer service center and field representatives;

• Provides a user-friendly participant Internet site with evidence-based retirement readiness tools and information;

• Provides on-going on-site visits to individual Plan groups for individual and group educational meetings;

• Provides on-going employee training sessions that discuss retirement planning issues, including one-on-one individual financial advising; and

• Focuses on financial wellness as well as retirement readiness.

Commitment to Technology and Resource Development

• Will interface with the payroll systems of the University of Tennessee System, the Tennessee Board of Regents, and six locally governed institutions as described below;

• Provides up to date, secure platforms that are easy for participants and the Plans to use;

• Has a defined plan for keeping platforms updated and secure;

• Continuously invests in technology and information/cyber-security;

• Has a participant website that:

• Has ORP and 403(b) account balances visible and manageable in single online account for those impacted;

• Provides the ability for participants to utilize online retirement planning and investment guidance tools and services;

• Has holistic retirement income projections/goal tracking in an online account that takes into account not only ORP and 403(b) account and social security information, but the ability to incorporate outside accounts (e.g., State’s 401(k) and 457(b) plans at a minimum, and TCRS if applicable) and provides analysis of ways for the participant to remedy any estimated shortfall between the goal and projection;

• Is able to perform all account functions – enroll, change deferral, change investment allocation, update beneficiary, contact info, etc.;

• Allows participants to schedule/request a meeting with field representatives in a timely manner;

• Provides access to all needed Plan forms;

• Has the ability to view investment disclosure and performance documents; and

• Provides access to financial planning tools (budgeting, educational webinars, etc.);

• Demonstrates excellence (accuracy, timeliness, etc.) in client service through technology; and

• Demonstrates dedication to continuously incorporating evidence-based improvements and best practices, including behavioral finance, into all service offerings.

Program Background (ORP)

In General. The ORP is a defined contribution 401(a) retirement plan that is available to exempt employees of the University of Tennessee System (UT), the Tennessee Board of Regents (TBR), and six locally governed institutions (LGI’s). Exempt employees are those employees who hold positions that are exempt from the Fair Labor Standards Act (FLSA). The State sponsors the ORP as an alternative to the State’s defined benefit 401(a) plan, known as the Tennessee Consolidated Retirement System (TCRS).

Participation in either TCRS or the ORP is a condition of full-time employment for individuals who are exempt from the FLSA and who are employed in State supported institutions of higher education. The number of employees and ORP eligibility summaries for UT as of October 2025 are contained in RFP Attachment 6.7. RFP Attachment 6.8 contains the number of employees and ORP eligibility summaries for TBR and the LGI’s as of October 2025.

Authority and Governance. The provisions governing the ORP are codified in Tennessee Code Annotated, Sections 8-25-201 et seq. and in Sections 8-36-903 and 8-36-923 and in the ORP Plan Document, which is attached as Contract Attachment 1 to RFP Attachment 6.6., Pro Forma Contract.

The ORP is a qualified plan under Section 401(a) of the Internal Revenue Code. The State issues this RFP as the ORP Plan sponsor.

The ORP is governed by four Trustees designated in state law (T.C.A. § 8-25-203). The State Treasurer who is also the Chair of the Board of Trustees of the Tennessee Consolidated Retirement System serves as a Trustee for and Plan Administrator of the ORP, and administration of the ORP is housed in the Treasury Department under the Trustees’ purview.

Plan Design. The ORP is a defined contribution plan with required employee and employer contributions depending on the participating employee’s date of hire. Employer and employee contribution amounts are set in statute. An ORP participant directs contributions to specific investment products made available by at least one and to as many as two ORP service providers. ORP participants may redirect past and future contributions between and among the service providers each payroll cycle. The vast majority of ORP participants direct contributions to only one service provider. The ORP currently has two active service providers; namely, TIAA and Voya.

Qualifying faculty and staff who became ORP members at any time prior to July 1, 2014 participate in the non-contributory ORP plan. The employer makes a contribution equal to 10% of the employee’s earnable compensation, plus 1% of the part of the employee’s earnable compensation in excess of the employee’s covered compensation to the member’s ORP account. The terms “earnable compensation” and “covered compensation” are defined in Sections 1.6 and 1.4 of the ORP Plan Document (Contract Attachment 1 to RFP Attachment 6.6., Pro Forma Contract ). The member may direct contributions to one or more of the ORP plan service providers. The non-contributory ORP Plan is closed to new members.

Qualifying faculty and staff who became ORP members on or after July 1, 2014 are eligible to participate in the contributory ORP Plan. The employer contributes 9% of earnable compensation to the member’s ORP account. The member contributes 5% of the employee’s earnable compensation to the ORP plan.

All contributions to the member’s ORP account are made on a pre-tax basis and may not be altered. The member may direct all contributions to one or more of the ORP plan service providers. The current investment lineups for the ORP are provided in RFP Attachment 6.11.

UT, TBR, and LGI’s. The UT System consists of six institutions of higher education located throughout the State. The TBR includes thirteen community colleges, and twenty-two colleges of applied technology (“TCATs”). The six locally governed institutions are: Austin Peay State University, East Tennessee State University, Middle Tennessee State University, Tennessee State University, Tennessee Technological University, and the University of Memphis. The UT, East Tennessee State University, Tennessee Tech University, Austin Peay State University, and the University of Memphis payroll and benefits systems use Oracle whereas TBR and the remaining LGI’s currently use the Banner system. It is anticipated that TBR and the remaining LGI’s will transition to an Oracle system before the end of the term of any contract awarded under this RFP. The successful service providers must electronically interface their recordkeeping systems with the payroll systems of UT, TBR and the LGIs to accept the institutions’ contributions record files and employee participant information. The successful service providers will be responsible for paying the associated interface costs, if any, charged by the vendors of the payroll systems.

UT, TBR, and the LGI’s collectively have multiple entities that will report participant information separately to each vendor. UT reports to each vendor on one payroll file combining reporting information from all six UT system institutions. The TBR central office reports for itself, twenty-one of the TCATs, and four of the community colleges. Each of the six LGI’s and nine of the community colleges in the TBR system report separately. Chattanooga State Community College reports for itself and TCAT-Chattanooga.

Participation, Assets, and Contributions.

As of 12/31/2025

UT

Annual Contributions $75,985,094 Assets $2,826,116,855 Active Participants 6,821 Total Participants 19,633

TBR &

LGI’s

Annual Contributions $68,376,921 Assets $2,353,676,471 Active Participants 6,732 Total Participants 18,052

Total

Annual Contributions $144,362,015 Assets $5,179,793,326 Active Participants 13,553 Total Participants 37,685

The ORP has approximately 37,700 total participants and 13,550 active participants with assets of about $5.2 billion. Most of the assets are in legacy contracts that are not mappable at the State’s direction.

About $2.5 billion can be moved at the State’s discretion subject to contract terms on the fixed account/stable value assets.

Participants with mappable assets in a plan offered by a closed service provider will have the option of mapping their assets and future contributions to one of the successful respondents. If no choice is made, the default will be to map contributions and assets to the highest scored respondent.

The State’s 401(k) and 457(b) deferred compensation plans are also available to all employees of UT, TBR and the LGIs. Eligible UT, TBR, and LGI employees who became TCRS or ORP members on or after July 1, 2014 are automatically enrolled to make elective, pre-tax contributions to the State’s 401(k) Plan (not included in scope of this RFP) equal to 2% of compensation.

The cash flow, activity, and participation details for each current vendor of the ORP are contained in RFP Attachment 6.9.

Program Background (403(b))

In General. In 2018, the Tennessee General Assembly granted the State the authority to administer the existing 403(b) plans for UT and TBR, respectively. The State became plan sponsor and administrator for the UT and TBR 403(b) plans on October 9, 2019. While administratively separate from TBR, the six LGI’s participate in the TBR 403(b) plan.

Plan Design. The 403(b) plans are supplemental deferred compensation plans established pursuant to § 403(b) of the Internal Revenue Code (26 U.S.C. § 403(b)). Employee participation is voluntary, and employer contributions are not allowed.

UT System employees may direct contributions to specific investment products made available by two 403(b) service providers, which are currently TIAA and Voya. Employees of TBR or the LGI’s may also direct contributions to specific investment products made available by those two current 403(b) service providers. All 403(b) participants may redirect past and future contributions between and among the service providers each payroll cycle.

Authority and Governance. The provisions governing the 403(b) Plans’ transition from UT and TBR to the State are codified in T.C.A. § §8-25-103 and 8-25-104. The Plan Documents for the UT 403(b) Plan and the TBR 403(b) Plan are attached as Contract Attachments 2 and 3 to RFP Attachment 6.6., Pro Forma Contract.

The 403(b) plans are governed by four Trustees designated in state law (T.C.A. § 8-25-103), which are the same Trustees as those for the ORP. The State Treasurer serves as a Trustee for and Plan Administrator (after the transition) of the 403(b) plans, and administration of the 403(b) plans is housed in the Treasury Department under the Trustees’ purview. Currently, the UT 403(b) plan and TBR 403(b) plan maintain separate plan documents. The State may elect to combine the two plan documents into a single plan document in the future.

Participation, Assets, and Contributions.

As of 12/31/2025

UT

Annual Contributions $11,152,239 Assets $580,690,969 Active Participants 874 Total Participants 3,313

TBR

Annual Contributions $4,999,352 Assets $391,253,131 Active Participants 697 Total Participants 2,294

Total

Annual Contributions $16,151,591 Assets $971,944,100 Active Participants 1,571 Total Participants 5,607

The 403(b) plans have approximately 5,600 total participants and 1,600 active participants with assets of about $970 million. Most of the assets are in legacy contracts that are not mappable at the State’s direction.

About $175 million can be moved at the State’s discretion subject to contract terms on the fixed account/stable value assets.

Participants with mappable assets in a plan offered by a closed service provider will have the option of mapping their assets and contributions to one of the successful respondents. If no choice is made, the default will be to map contributions and assets to the highest scored respondent.

The cash flow, activity, and participation details for each current vendor of the 403(b) plans are contained in RFP Attachment 6.10.

Treasury Managed Fund and Custom Unitized Investment Options. It is a mandatory requirement that the successful Respondents offer the “Tennessee Treasury Managed Fund” (Treasury Managed Fund) and, at the State’s request, custom unitized investment options as ORP investment options. It is also a mandatory requirement that the successful Respondents offer these funds as investment options in the 403(b) Plan lineups at the State’s discretion once allowed by federal law. The successful Respondents will work with the State in the development of mutually acceptable operating procedures for the custom unitized investment options. The Treasury Managed Fund and custom unitized investment options are described below.

The Treasury Managed Fund is a unitized version of assets held within a Group Trust and invested in the same manner as the Tennessee Consolidated Retirement System Group Trust. It is not currently offered as an investment option in the ORP. However, attached to this RFP as RFP Attachment 6.12 are the Treasury Managed Fund disclosure and daily valuation operating procedures for the State of Tennessee 401(k) and 457(b) Plans.

The State may offer participants investment options that include various unitized, internally managed funds.

These investment options include a unitized version of the multi-asset defined benefit portfolio (the “Treasury Managed Fund” or “TMF”), custom target date retirement funds, and single-asset investment funds. The unitization, rebalancing, NAV striking, and super-NAV striking for these investment options will be conducted by a third-party intermediary. The successful Respondents will be expected to secure any required operating agreements or data transmission arrangements directly with this third-party intermediary. As such, the daily process includes sending a net cash flow amount to the third party for the given investment option and receiving NAV from the third party for each of these options. For clarity, participant-level data transmission is not needed in reporting or trade information transmission. These options will each require a custom fact sheet with certain disclosures and updated investment fact sheet information provided periodically by utilizing the successful Respondent’s template(s).

Disclosure and operating procedure documents for the custom unitized investment options, including information about the third-party intermediary referenced above, are under development and may be updated from time to time.

1.2. Scope of Service, Contract Period, & Required Terms and Conditions

The RFP Attachment 6.6., Pro Forma Contract details the State’s requirements:

Scope of Services and Deliverables (Section A);

Contract Period (Section B);

Payment Terms (Section C);

Standard Terms and Conditions (Section D); and, Special Terms and Conditions (Section E).

The pro forma contract substantially represents the contract document that the successful Respondent must sign.

1.3. Nondiscrimination

No person shall be excluded from participation in, be denied benefits of, or be otherwise subjected to discrimination in the performance of a Contract pursuant to this RFP or in the employment practices of the Contractor on the grounds of handicap or disability, age, race, creed, color, religion, sex, national origin, or any other classification protected by federal, Tennessee state constitutional, or statutory law. The Contractor pursuant to this RFP shall, upon request, show proof of such nondiscrimination and shall post in conspicuous places, available to all employees and applicants, notices of nondiscrimination.

1.4. RFP Communications

1.4.1. The State has assigned the following RFP identification number that must be referenced in all communications regarding this RFP:

RFP # 30901-65526

1.4.2. Unauthorized contact about this RFP with employees or officials of the State of Tennessee except as detailed below may result in disqualification from consideration under this procurement process.

1.4.2.1. Prospective Respondents must direct communications concerning this RFP to the following person designated as the Solicitation Coordinator:

Dawn Rochelle, Solicitation Coordinator Tennessee Treasury Department Telephone: (615) 253-8770 Email: dawn.rochelle@tn.gov

1.4.2.2. Notwithstanding the foregoing, Prospective Respondents may alternatively contact the following individual designated by the State to coordinate compliance with the nondiscrimination requirements of the State of Tennessee, Title VI of the Civil Rights Act of 1964, the Americans with Disabilities Act of 1990, and associated federal regulations:

MaryJo Price State of Tennessee, Treasury Department 502 Deaderick Street Nashville, TN 37243-0225 Telephone: (615) 532-0909 Email: maryjo.price@tn.gov

1.4.3. Only the State’s official, written responses and communications with Respondents are binding with regard to this RFP. Oral communications between a State official and one or more Respondents are unofficial and non-binding.

1.4.4. Potential Respondents must ensure that the State receives all written questions and comments, including questions and requests for clarification, no later than the Written Questions & Comments Deadline detailed in the RFP Section 2, Schedule of Events. Any written questions or comments must be e-mailed to the Solicitation Coordinator at dawn.rochelle@tn.gov. The State intends to hold a second round of Written Questions & Comments as detailed in the RFP Section 2, Schedule of Events. During this second round, the State only commits to responding to follow-mailto:dawn.rochelle@tn.gov mailto:dawn.rochelle@tn.gov up Written Questions & Comments from potential Respondents, which ask for further information based on a first round State response. For this reason, the State encourages potential Respondents to ask all of their questions and make all their comments during the first round.

1.4.5. Respondents must assume the risk of dispatching any communication or response to the State.

The State assumes no responsibility for delays in the State’s receipt of any communication or response from Respondents due to technical or other filing delays.

1.4.6. The State will convey all official responses and communications related to this RFP to the prospective Respondents from whom the State has received a Notice of Intent to Respond (refer to RFP Section 1.8).

1.4.7. The State will convey official, written responses and communications related to this RFP through electronic mail to the prospective Respondents from whom the State has received a Notice of Intent to Respond. The State may also convey such communications by Internet posting. For internet posting, please refer to the following website:

https://www.tn.gov/generalservices/procurement/central-procurement-office--cpo-/supplier-information/request-for-proposals--rfp--opportunities1.html.

1.4.8. The State reserves the right to determine, at its sole discretion, the appropriateness and adequacy of responses to written comments, questions, and requests related to this RFP. The State’s official, written responses will constitute an amendment of this RFP.

1.4.9. Any data or factual information provided by the State (in this RFP, an RFP amendment or any other communication relating to this RFP) is for informational purposes only. The State will make reasonable efforts to ensure the accuracy of such data or information, however it is the Respondent’s obligation to independently verify any data or information provided by the State.

The State expressly disclaims the accuracy or adequacy of any information or data that it provides to prospective Respondents.

1.5. Assistance to Respondents With a Handicap or Disability

Prospective Respondents with a handicap or disability may receive accommodation relating to the communication of this RFP and participating in the RFP process. Prospective Respondents may contact the Solicitation Coordinator to request such reasonable accommodation no later than the Disability Accommodation Request Deadline detailed in the RFP Section 2, Schedule of Events.

1.6. Respondent Required Review & Waiver of Objections

1.6.1. Each prospective Respondent must carefully review this RFP, including but not limited to, attachments, the RFP Attachment 6.6., Pro Forma Contract, and any amendments, for questions, comments, defects, objections, or any other matter requiring clarification or correction (collectively called “questions and comments”).

1.6.2. Any prospective Respondent having questions and comments concerning this RFP must provide them in writing to the State no later than the Written Questions & Comments Deadline detailed in the RFP Section 2, Schedule of Events.

1.6.3. Protests based on any objection to the RFP shall be considered waived and invalid if the objection has not been brought to the attention of the State, in writing, by the Written Questions & Comments Deadline.

1.7. Pre-Response Teleconference

A Pre-response Teleconference will be held at the time and date detailed in the RFP Section 2, Schedule of Events. Pre-response Teleconference attendance is not mandatory.

https://www.tn.gov/generalservices/procurement/central-procurement-office--cpo-/supplier-information/request-for-proposals--rfp--opportunities1.html https://www.tn.gov/generalservices/procurement/central-procurement-office--cpo-/supplier-information/request-for-proposals--rfp--opportunities1.html

To participate in the teleconference, contact the Solicitation Coordinator, Dawn Rochelle, at (615) 253- 8770 or via e-mail at Dawn.Rochelle@tn.gov for further instructions.

The purpose of the Teleconference is to discuss the RFP scope of goods or services. The State will entertain questions, however prospective Respondents must understand that the State’s oral response to any question at the Pre-response Teleconference shall be unofficial and non-binding. Prospective Respondents must submit all questions, comments, or other concerns regarding the RFP in writing prior to the Written Questions & Comments Deadline date detailed in the RFP Section 2, Schedule of Events.

The State will send the official response to these questions and comments to prospective Respondents from whom the State has received a Notice of Intent to respond as indicated in RFP Section 1.8 and on the date detailed in the RFP Section 2, Schedule of Events.

1.8. Notice of Intent to Respond

Before the Notice of Intent to Respond Deadline detailed in the RFP Section 2, Schedule of Events, prospective Respondents should submit to the Solicitation Coordinator a Notice of Intent to Respond (in the form of a simple e-mail). Such notice should include the following information:

the business or individual’s name (as appropriate);

a contact person’s name and title; and the contact person’s mailing address, telephone number, facsimile number, and e-mail address.

A Notice of Intent to Respond creates no obligation and is not a prerequisite for submitting a response, however, it is necessary to ensure receipt of any RFP amendments or other notices and communications relating to this RFP.

1.9. Response Deadline

A Respondent must ensure that the State receives a response no later than the Response Deadline time and date detailed in the RFP Section 2, Schedule of Events. The State will not accept late responses, and a Respondent’s failure to submit a response before the deadline will result in disqualification of the response. Respondents should be mindful of any potential delays due to technical, or other filing delays whether foreseeable or unforeseeable.

mailto:Dawn.Rochelle@tn.gov

2. RFP SCHEDULE OF EVENTS

2.1. The following RFP Schedule of Events represents the State’s best estimate for this RFP.

EVENT

TIME

(central time zone)

DATE

1. RFP Issued May 12, 2026

2. Disability Accommodation Request Deadline 2:00 p.m. May 15, 2026

3. Pre-response Teleconference 2:00 p.m. May 18, 2026

4. Notice of Intent to Respond Deadline 2:00 p.m. May 19, 2026

5. Written “Questions & Comments” Deadline 2:00 p.m. May 26, 2026

6. State Response to Written “Questions & Comments” June 5, 2026

7. Second & Final Round of Written “Questions & Comments” (Follow-Up Questions & Comments Deadline. See RFP Section 1.4.4.)

2:00 p.m. June 12, 2026

8. State Response to Second & Final Round of Written “Questions & Comments” June 22, 2026

9. Technical Response and Cost Proposal Deadline 2:00 p.m. June 29, 2026

10. State Completion of Technical Response Evaluations Sections B and C July 20, 2026

11. State Schedules Respondent Oral Presentations (Respondent Finalists Only) July 21, 2026

12. Respondent Oral Presentations (Respondent Finalists Only) 8:00 a.m. – 4:30 p.m. July 27 – July 28, 2026

13. State Completion of Technical Response Evaluations July 28, 2026

14. State Opening & Scoring of Cost Proposals (Finalists Only) July 28, 2026

15. Negotiations (Optional to the State) 4:30 p.m. July 29, 2026 – July 30, 2026

16. State Notice of Intent to Award Released and RFP Files Opened for Public Inspection August 5, 2026

17. End of Protest Period August 12, 2026

18. State sends contract to Contractor for signature August 13, 2026

19. Contractor Signature Deadline 2:00 p.m. August 17, 2026

2.2. The State reserves the right, at its sole discretion, to adjust the RFP Schedule of Events as it deems necessary. Any adjustment of the Schedule of Events shall constitute an RFP amendment, and the State will communicate such to prospective Respondents from whom the State has received a Notice of Intent to Respond (refer to section 1.8).

3. RESPONSE REQUIREMENTS

3.1. Response Form

A response to this RFP must consist of two parts, a Technical Response and a Cost Proposal.

3.1.1. Technical Response. RFP Attachment 6.2., Technical Response & Evaluation Guide provides the specific requirements for submitting a response. This guide includes mandatory requirement items, general qualifications and experience items, and technical qualifications, experience, and approach items all of which must be addressed with a written response and, in some instances, additional documentation.

NOTICE: A technical response must not include any pricing or cost information.

If any pricing or cost information amounts of any type (even pricing relating to other projects) is included in any part of the technical response, the state may deem the response to be non-responsive and reject it.

3.1.1.1. A Respondent should duplicate and use the RFP Attachment 6.2., Technical Response

& Evaluation Guide to organize, reference, and draft the Technical Response by duplicating the attachment, adding appropriate page numbers as required, and using the guide as a table of contents covering the Technical Response.

3.1.1.2. A response should be economically prepared, with emphasis on completeness and clarity. A response, as well as any reference material presented, must be written in English and must be written on standard 8 ½” x 11” pages (although oversize exhibits are permissible) and use a 12 point font for text. All response pages must be numbered.

3.1.1.3. All information and documentation included in a Technical Response should correspond to or address a specific requirement detailed in the RFP Attachment 6.2., Technical Response & Evaluation Guide. All information must be incorporated into a response to a specific requirement and clearly referenced. Any information not meeting these criteria will be deemed extraneous and will not contribute to evaluations.

3.1.1.4. The State may determine a response to be non-responsive and reject it if:

a. the Respondent fails to organize and properly reference the Technical Response as required by this RFP and the RFP Attachment 6.2., Technical Response & Evaluation Guide; or

b. the Technical Response document does not appropriately respond to, address, or meet all of the requirements and response items detailed in the RFP Attachment 6.2., Technical Response & Evaluation Guide.

3.1.2. Cost Proposal. A Cost Proposal must be recorded on an exact duplicate of the RFP Attachment

6.3., Cost Proposal & Scoring Guide.

NOTICE: If a Respondent fails to submit a cost proposal exactly as required, the State may deem the response to be non-responsive and reject it.

3.1.2.1. A Respondent must only record the proposed cost exactly as required by the RFP

Attachment 6.3., Cost Proposal & Scoring Guide and must NOT record any other rates, amounts, or information.

3.1.2.2. The proposed cost shall incorporate ALL costs for services under the contract for the total contract period, including any renewals or extensions.

3.1.2.3. A Respondent must sign and date the Cost Proposal. An electronic or facsimile signature, as applicable, is acceptable.

3.1.2.4. A Respondent must submit the Cost Proposal to the State in a separate email from the

Technical Response (as detailed in RFP Sections 3.2.3., et seq.).

3.2. Response Delivery

3.2.1. A Respondent must ensure that both the original Technical Response and Cost Proposal documents meet all form and content requirements, including all required signatures, as detailed within this RFP, as may be amended.

3.2.2. A Respondent must submit its Technical Response and Cost Proposal documents as specified below.

3.2.2.1. Technical Response:

The Technical Response document should be in the form of one (1) digital document in “PDF” format or other easily accessible digital format attached to an e-mail to the Solicitation Coordinator. Both the subject and file name should both be clearly identified as follows:

“RFP # 30901-65526 TECHNICAL RESPONSE”

3.2.2.2. Cost Proposal:

The Cost Proposal should be in the form of one (1) digital document in “PDF” or “XLS” format or other easily accessible digital format attached to an e-mail to the Solicitation Coordinator. Both the subject and file name should both be clearly identified as follows:

“RFP # 30901-65526 COST PROPOSAL”

An electronic or facsimile signature, as applicable, on the Cost Proposal is acceptable.

3.2.3. The Technical Response and Cost Proposal documents must be dispatched to the Solicitation Coordinator in separate e-mail messages.

3.2.4. A Respondent must ensure that the State receives a response no later than the Response Deadline time and date detailed in the RFP Section 2, Schedule of Events. The Response must be delivered to the Solicitation Coordinator via e-mail at dawn.rochelle@tn.gov. In the event a Respondent's Response with all attachments and supporting documentation will exceed 15 megabytes in total, the Respondent must place the documents in a zip file or make two or more submissions such that the documents per e-mail submission do not exceed 15 megabytes.

3.3. Response & Respondent Prohibitions

3.3.1. A response must not include alternate contract terms and conditions. If a response contains such terms and conditions, the State, at its sole discretion, may determine the response to be a non-responsive counteroffer and reject it.

3.3.2. A response must not restrict the rights of the State or otherwise qualify either the offer to deliver goods or provide services as required by this RFP or the Cost Proposal. If a response restricts the rights of the State or otherwise qualifies either the offer to deliver goods or provide services as required by this RFP or the Cost Proposal, the State, at its sole discretion, may determine the response to be a non-responsive counteroffer and reject it.

3.3.3. A response must not propose alternative goods or services (i.e., offer services different from those requested and required by this RFP) unless expressly requested in this RFP. The State may consider a response of alternative goods or services to be non-responsive and reject it.

3.3.4. A Cost Proposal must be prepared and arrived at independently and must not involve any collusion between Respondents. The State will reject any Cost Proposal that involves collusion, consultation, communication, or agreement between Respondents. Regardless of the time of detection, the State will consider any such actions to be grounds for response rejection or contract termination.

3.3.5. A Respondent must not provide, for consideration in this RFP process or subsequent contract negotiations, any information that the Respondent knew or should have known was materially incorrect. If the State determines that a Respondent has provided such incorrect information, the State will deem the Response non-responsive and reject it.

3.3.6. A Respondent must not submit more than one Technical Response and one Cost Proposal in response to this RFP, except as expressly requested by the State in this RFP. If a Respondent submits more than one Technical Response or more than one Cost Proposal, the State will deem all of the responses non-responsive and reject them.

3.3.7. A Respondent must not submit a response as a prime contractor while also permitting one or more other Respondents to offer the Respondent as a subcontractor in their own responses.

Such may result in the disqualification of all Respondents knowingly involved. This restriction does not, however, prohibit different Respondents from offering the same subcontractor as a part of their responses (provided that the subcontractor does not also submit a response as a prime contractor).

3.3.8. The State shall not consider a response from an individual who is, or within the past six (6) months has been, a State employee. For purposes of this RFP:

3.3.8.1. An individual shall be deemed a State employee until such time as all compensation for salary, termination pay, and annual leave has been paid;

3.3.8.2. A contract with or a response from a company, corporation, or any other contracting entity in which a controlling interest is held by any State employee shall be considered to be a contract with or proposal from the employee; and

3.3.8.3. A contract with or a response from a company, corporation, or any other contracting entity that employs an individual who is, or within the past six (6) months has been, a State employee shall not be considered a contract with or a proposal from the employee and shall not constitute a prohibited conflict of interest.

3.3.9. This RFP is also subject to Tenn. Code Ann. § 12-4-101—105.

3.4. Response Errors & Revisions

A Respondent is responsible for any and all response errors or omissions. A Respondent will not be allowed to alter or revise response documents after the Response Deadline time and date detailed in the RFP Section 2, Schedule of Events unless such is formally requested, in writing, by the State.

3.5. Response Withdrawal

A Respondent may withdraw a submitted response at any time before the Response Deadline time and date detailed in the RFP Section 2, Schedule of Events by submitting a written request signed by an authorized Respondent representative to the Solicitation Coordinator via e-mail at dawn.rochelle@tn.gov.

After withdrawing a response, a Respondent may submit another response at any time before the Response Deadline. After the Response Deadline, a Respondent may only withdraw all or a portion of a response where the enforcement of the response would impose an unconscionable hardship on the Respondent.

3.6. Additional Services

If a response offers goods or services in addition to those required by and described in this RFP, the State, at its sole discretion, may add such services to the contract awarded as a result of this RFP.

Notwithstanding the foregoing, a Respondent must not propose any additional cost amounts or rates for additional goods or services. Regardless of any additional services offered in a response, the Respondent’s Cost Proposal must only record the proposed cost as required in this RFP and must not record any other rates, amounts, or information.

NOTICE: If a Respondent fails to submit a Cost Proposal exactly as required, the State may deem the response non-responsive and reject it.

3.7. Response Preparation Costs

The State will not pay any costs associated with the preparation, submittal, or presentation of any response.

4. GENERAL CONTRACTING INFORMATION & REQUIREMENTS

4.1. RFP Amendment

The State at its sole discretion may amend this RFP, in writing, at any time prior to contract award.

However, prior to any such amendment, the State will consider whether it would negatively impact the ability of potential Respondents to meet the response deadline and revise the RFP Schedule of Events if deemed appropriate. If an RFP amendment is issued, the State will convey it to potential Respondents who submitted a Notice of Intent to Respond (refer to RFP Section 1.8). A response must address the final RFP (including its attachments) as amended.

4.2. RFP Cancellation

The State reserves the right, at its sole discretion, to cancel the RFP or to cancel and reissue this RFP in accordance with applicable laws and regulations.

4.3. State Right of Rejection

4.3.1. Subject to applicable laws and regulations, the State reserves the right to reject, at its sole discretion, any and all responses.

4.3.2. The State may deem as non-responsive and reject any response that does not comply with all terms, conditions, and performance requirements of this RFP. Notwithstanding the foregoing, the State reserves the right to waive, at its sole discretion, minor variances from full compliance with this RFP. If the State waives variances in a response, such waiver shall not modify the RFP requirements or excuse the Respondent from full compliance, and the State may hold any resulting Contractor to strict compliance with this RFP.

4.4. Assignment & Subcontracting

4.4.1. The Contractor may not subcontract, transfer, or assign any portion of the Contract awarded as a result of this RFP without prior approval of the State. The State reserves the right to refuse approval, at its sole discretion, of any subcontract, transfer, or assignment.

4.4.2. If a Respondent intends to use subcontractors, the response to this RFP must specifically identify the scope and portions of the work each subcontractor will perform (refer to RFP Attachment 6.2., Section B, General Qualifications & Experience Item B.14.).

4.4.3. Subcontractors identified within a response to this RFP will be deemed as approved by the State unless the State expressly disapproves one or more of the proposed subcontractors prior to signing the Contract.

4.4.4. After contract award, a Contractor may only substitute an approved subcontractor at the discretion of the State and with the State’s prior, written approval.

4.4.5. Notwithstanding any State approval relating to subcontracts, the Respondent who is awarded a contract pursuant to this RFP will be the prime contractor and will be responsible for all work under the Contract.

4.5. Right to Refuse Personnel or Subcontractors

The State reserves the right to refuse, at its sole discretion and notwithstanding any prior approval, any personnel of the prime contractor or a subcontractor providing goods or services in the performance of a contract resulting from this RFP. The State will document in writing the reason(s) for any rejection of personnel.

4.6. Insurance

The State will require the awarded Contractor to provide a Certificate of Insurance issued by an insurance company licensed or authorized to provide insurance in the State of Tennessee. Each Certificate of Insurance shall indicate current insurance coverages meeting minimum requirements as may be specified by this RFP. A failure to provide a current, Certificate of Insurance will be considered a material breach and grounds for contract termination.

4.7. Professional Licensure and Department of Revenue Registration

4.7.1. All persons, agencies, firms, or other entities that provide legal or financial opinions, which a Respondent provides for consideration and evaluation by the State as a part of a response to this RFP, shall be properly licensed to render such opinions.

4.7.2. Before the Contract resulting from this RFP is signed, the apparent successful Respondent (and

Respondent employees and subcontractors, as applicable) must hold all necessary or appropriate business or professional licenses to provide the goods or services as required by the contract. The State may require any Respondent to submit evidence of proper licensure.

4.7.3. Before the Contract resulting from this RFP is signed, the apparent successful Respondent must be registered with the Tennessee Department of Revenue for the collection of Tennessee sales and use tax. The State shall not award a contract unless the Respondent provides proof of such registration or provides documentation from the Department of Revenue that the Contractor is exempt from this registration requirement. The foregoing is a mandatory requirement of an award of a contract pursuant to this solicitation. To register, please visit the Department of Revenue’s Tennessee Taxpayer Access Point (TNTAP) website for Online Registration and the Vendor Contract Questionnaire. These resources are available at the following:

https://tntap.tn.gov/eservices/_/#1

4.8. Disclosure of Response Contents

4.8.1. All materials submitted to the State in response to this RFP shall become the property of the State of Tennessee. Respondents are cautioned not to provide any materials in response to this RFP that are trade secrets, as defined under Tenn. Code Ann. § 47-25-1702 and any other applicable law. By submitting a response to this RFP, the respondent acknowledges and agrees that the State shall have no liability whatsoever for disclosure of a trade secret under the Uniform Trade Secrets Act, as provided at Tenn. Code Ann. § 47-25-1701-1709, or under any other applicable law. Selection or rejection of a response does not affect this right. By submitting a response, a Respondent acknowledges and accepts that the full response contents and associated documents will become open to public inspection in accordance with the laws of the State of Tennessee.

4.8.2. The State will hold all response information, including both technical and cost information, in confidence during the evaluation process.

4.8.3. Upon completion of response evaluations, indicated by public release of a Notice of Intent to

Award, the responses and associated materials will be open for review by the public in accordance with Tenn. Code Ann. § 10-7-504(a)(7).

4.9. Contract Approval and Contract Payments

4.9.1. After contract award, the Contractor who is awarded the contract must submit appropriate documentation with the Department of Finance and Administration, Division of Accounts.

4.9.2. This RFP and its contractor selection processes do not obligate the State and do not create rights, interests, or claims of entitlement in either the Respondent with the apparent best-evaluated response or any other Respondent.