T1400 Bid Amendment 2 Extended Quote Submission Due Date 7.30.25.docx

This document is a Bid Amendment (#2) issued by the New Jersey Department of the Treasury, Division of Purchase and Property for Bid Solicitation #25DPP01066 regarding the Alternate Benefit Program Service Providers procurement. The amendment extends the quote submission due date from August 6, 2025, to August 27, 2025, at 2:00 p.m. Eastern Time. The procurement seeks multiple contractors to provide comprehensive recordkeeping and administrative services for the Alternate Benefit Program (ABP) and Additional Contributions Tax-Sheltered (ACTS) Program, with a six-year contract term and potential three-year extensions.

The solicitation targets retirement plan services for state employees, with a focus on technological capabilities, participant services, and administrative flexibility. The state requires vendors to submit gross, hard-dollar per-participant fees covering implementation, conversion, administration, recordkeeping, education, and trustee expenses. Current incumbent vendors include Corebridge Financial, Empower, and Prudential, who manage approximately $829,872,585 in plan assets across 15,550 active participants. The procurement encourages participation from small, woman-owned, minority-owned, veteran-owned, and disabled veteran-owned businesses. Vendors must use the lowest-cost investment share classes, credit all revenue sharing back to participants, and comply with a two basis point administrative funding fee. Comprehensive technical and security questionnaires are required, with strict evaluation criteria for cybersecurity, information protection, and system integration capabilities.