T1400 Bid Amendment 5 Extended Quote Submission Due Date 9.18.25.docx

This document is a Bid Amendment (#5) issued by the New Jersey Department of the Treasury, Division of Purchase and Property for Bid Solicitation #25DPP01066, specifically for the Alternate Benefit Program Service Providers. The amendment extends the quote submission due date from September 24, 2025, to October 8, 2025, at 2:00 p.m. Eastern Time. This procurement seeks multiple contractors to provide comprehensive recordkeeping and administrative services for the Alternate Benefit Program (ABP) and Additional Contributions Tax-Sheltered (ACTS) Program.

The contract will have a six-year term with potential extensions up to three additional years, and will involve managing a complex multi-vendor retirement system for state employees. 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 requires vendors to use the lowest-cost investment share classes, credit all revenue sharing back to participants, and maintain an administrative funding fee of two basis points. The solicitation encourages participation from small, women-owned, minority-owned, veteran-owned, and disabled veteran-owned businesses, with a focus on comprehensive technological capabilities, participant services, administrative flexibility, cybersecurity standards, and competitive fee structures.