T1400 Bid Amendment 3 Extended Quote Submission Due Date 8.19.25.docx

This document is a Bid Amendment issued by the New Jersey Department of the Treasury, Division of Purchase and Property for Bid Solicitation #25DPP01066 related to the Alternate Benefit Program (ABP) Service Providers. The amendment extends the quote submission due date from August 27, 2025 to September 10, 2025 at 2:00 p.m. Eastern Time. This procurement seeks three or more contractors to provide comprehensive retirement plan recordkeeping and administrative services for state employees, with a six-year contract term and potential extensions up to three additional years.

The solicitation 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 state mandates the use of lowest-cost investment share classes, with all revenue sharing credited back to participants, and requires a two basis point administrative funding fee. The procurement encourages participation from small, women-owned, minority-owned, veteran-owned, and disabled veteran-owned businesses, with a focus on comprehensive technological capabilities, participant services, cybersecurity standards, and transparent fee structures.