MIKIE SHERRILL

Governor State of New Jersey

DEPARTMENT OF THE TREASURY

DIVISION OF PURCHASE AND PROPERTY

PROCUREMENT BUREAU

33 WEST STATE STREET

P. O. BOX 230

TRENTON, NEW JERSEY 08625-0230

AARON BINDER

State Treasurer

DR. DALE G. CALDWELL

Lt. Governor

AMY F. DAVIS, ESQ.

Acting Director https://www.njstart.gov

April 29, 2026

To: All Interested Bidders

Re: Bid Solicitation # 26DPP01201 T2327 - Defined Contribution Retirement Program Administration Services: NJ State Employees Deferred Compensation Plan (NJSEDCP) and NJ Defined Contribution Retirement Program (NJDCRP)

Previous Quote Submission Due Date: May 6, 2026 (2:00 p.m. Eastern Time) Revised Quote Submission Due Date: May 13, 2026 (2:00 p.m. Eastern Time)

Bid Amendment #6

The following constitutes Bid Amendment #6 to the above referenced Bid Solicitation:

· This Bid Amendment extends the Quote Submission due date from May 6, 2026 to May 13, 2026 (2:00 p.m. Eastern Time); and

· This Bid Amendment includes answers to questions;

· Please note that for all additions, deletions, clarifications and modifications to the Bid Solicitation, please refer to the Revised Bid Solicitation titled, “T2327 Revised Bid Solicitation 04.29.2026”, and hereafter referred to in this document as the “Revised Bid Solicitation”.

· Table of Contents – revised

· Exhibit 5 – Asset Summary By Investment Option - added

· Exhibit 6 – Location And Participation Data - added

· 1.1 Purpose and Intent - revised

· 1.2 Background - revised

· 1.2.1 457(B) and 401(A) Locations – revised

· 2.6 Pre-Quote Document Review - revised

· 3.26 State-Supplied Price Sheet Instructions - revised

· 4.2.1 Participant Educational Services - revised

· 4.2.2 Participant Support Services – revised

· 4.5 Investment Management Services - revised

· 6.1 Security Plan – revised

· 7.2 Insurance – revised

· 7.2.1 Worker’s Compensation Insurance – added

· This Bid Amendment includes new Bid Solicitation attachments uploaded to the Attachments Tab in NJSTART:

· Exhibit 5 – Asset Summary By Investment Option - added

· Exhibit 6 – Location And Participation Data - added

· An Optional Pre-Quote Conference was held on December 23, 2025. The below firms were confirmed to be in attendance:

· Empower

· Alight Solutions, LLC

It is the sole responsibility of the Bidder to be knowledgeable of all of the additions, deletions, clarifications, and modifications to the Bid Solicitation and/or the New Jersey Standard Terms and Conditions relative to this Bid Solicitation as set forth in all Bid Amendments.

All other instructions, terms, and conditions of the Bid Solicitation shall remain the same.

Bid Solicitation # 26DPP01201 T2327 - Defined Contribution Retirement Program Administration Services: NJ State Employees Deferred Compensation Plan (NJSEDCP) and NJ Defined Contribution Retirement Program (NJDCRP)

Answers to Questions

Where applicable, each question references the appropriate Bid Solicitation section.

Section Reference Question (Bolded) and Answer

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Yes. Prior to the Quote Opening Deadline, a Bidder should review the documents comprising the submitted Quote to ensure that all of the required documents have been completed and attached. Oftentimes a Quote is deemed non-responsive because a Bidder fails to attach a required form or attaches a blank form. To review a submitted Quote, a Bidder should log into NJSTART and review each document attached to the Quote submission. Instructions on how to review a submitted Quote can be found in the Quick Reference Guide entitled How to Review a Submitted Quote, which is available on the NJSTART Vendor Support Page under Vendor Reference Guides.

Please be advised that all Quotes shall be submitted electronically through NJSTART.

As stated in Bid Solicitation Section 2.2, Exceptions to the State of NJ Standard Terms and Conditions (SSTC): “Questions regarding the State of New Jersey Standard Terms and Conditions and exceptions to mandatory requirements MUST be posed during the Electronic Question and Answer period and shall contain the Bidder’s suggested changes and the reason(s) for the suggested change(s).” Moreover, as stated in Bid Solicitation Section 3.11, Bidder proposed terms or conditions that conflict with those contained in the State of New Jersey Standard Terms and Conditions may render a Quote non-responsive.

The State’s fiscal year ends on June 30th.

The State declines to identify or comment on any specific areas of concern or provide subjective feedback regarding the incumbent Contractor or prior performance.

The Bid Solicitation (RFP) was developed to meet the State’s current and anticipated business needs, and the Bidder is expected to rely solely on the criteria set forth in the Bid Solicitation when preparing its Quote.

The Bidder should provide the level of detail they determine necessary to assist the Evaluation Committee in its review of the Bidder's Quote.

This is not a question and cannot be answered as posed. However, the State does not accept any revision to the identified section of the Bid Solicitation.

A Bidder’s failure to submit the information required by N.J.S.A. 52:25-24.2 will result in the rejection of the Quote as non-responsive and preclude the award of a Contract to said Bidder.

Please refer to Revised Bid Solicitation Section 3.12.2, Ownership Disclosure Form, for additional information related to ownership disclosure requirements.

Yes, the intended Contractor and its named Subcontractor(s) must submit a copy of a New Jersey Certificate of Employee Information Report, or a copy of Federal Letter of Approval verifying it is operating under a federally approved or sanctioned Affirmative Action program. If the Contractor and/or its named Subcontractor(s) are not in possession of either a New Jersey Certificate of Employee Information Report or a Federal Letter of Approval, it/they must complete and submit the Affirmative Action Employee Information Report (AA-302). Information, instruction and the application are available at https://www.state.nj.us/treasury/contract_compliance/index.shtml.

This is not a question and cannot be answered as posed. However, the State does not accept any revision to the identified section.

This is not a question and cannot be answered as posed. However, the State does not accept any revision to the identified section.

No. The State does not accept any proposed modification to the identified section. This term is a required section and part of every New Jersey Contract.

The State does not accept any proposed modification to the identified section. This term is a required section and part of every New Jersey Contract. Please note the complaint procedure contemplates a cure period to potentially resolve any outstanding issues.

This is not a question and cannot be answered as posed. However, the State does not accept any proposed revision to the identified section. It is the responsibility of the Bidder to complete and submit all requirements of this Bid Solicitation.

NOTE: No substituted or additional Subcontractors are authorized to begin work until the Contractor has received written approval from the Director.

This is not a question and cannot be answered as posed. However, the State does not accept any proposed revision to the identified section. It is the responsibility of the Bidder to complete and submit all requirements of this Bid Solicitation.

No. The State does not accept any proposed modification to the identified section and declines to waive any potential legal rights. Additionally, this term is a required section and part of every New Jersey Contract. Every Bidder submitting a Quote agrees to the terms and conditions of the Bid Solicitation and any accompanying documents.

This is not a question and cannot be answered as posed. However, the State does not accept any revision to the identified section.

This is not a question and cannot be answered as posed. However, the State does not accept any revision to the identified section. Every Bidder submitting a Quote agrees to the terms and conditions of the Bid Solicitation and any accompanying documents, however, not all Bid Solicitation terms and SSTCs are applicable to all Contracts. To the extent that Section 6.1 of the SSTCs is not currently applicable, it shall remain in case the Bid Solicitation is modified in the future pursuant to the process permitted under the Bid Solicitation.

A performance bond is not required for this Bid Solicitation. Not all Bid Solicitation terms and SSTCs are applicable to all Contracts. To the extent that Section 6.8 of the SSTCs is not currently applicable, it shall remain in case the Bid Solicitation is modified in the future pursuant to the process permitted under the Bid Solicitation.

No. The State does not accept any proposed modification to the identified section and declines to waive any potential legal rights, which shall remain in effect when applicable. Not all Bid Solicitation terms and SSTCs are applicable to all Contracts. To the extent that Sections 8.2 and 9.2 of the SSTCs is not currently applicable, they shall remain in case the Bid Solicitation is modified in the future pursuant to the process permitted under the Bid Solicitation.

This is not a question that can be answered as posed. The State of New Jersey Combined State Standard Terms and Conditions Section 9.2 does not contain a “4.3(B)” section. The State declines to limit any liability requirements, limits, or caps set forth in the Bid Solicitation, which shall remain in effect when applicable.

No. The State does not accept any proposed modification to the identified section. Please see Revised Bid Solicitation Section 5.4, Ownership of Material which fully outlines the rights and responsibilities of the parties as they relate to pre-existing intellectual property and work product developed during the term of the Contract.

This is not a question and cannot be answered as posed. However, the State does not accept any proposed modification to the identified section, which shall remain in effect when applicable.

This is not a question and cannot be answered as posed. All data information can be provided within the Security Questionnaire submission for review by the State.

Please be advised that pursuant to N.J.R.S 52:17B-193.3 2.a. “Every public agency and government contractor shall report cybersecurity incidents to the New Jersey Office of Homeland Security and Preparedness. The report shall be made within 72 hours of when the public agency or government contractor reasonably believes that a cybersecurity incident has occurred.”

Further, Bid Solicitation Section 6.7G, Privacy, states the following in part: “Data Breach: In the event of any actual, probable or reasonably suspected Breach of Security, or any unauthorized access to or acquisition, use, loss, destruction, compromise, alteration or disclosure of any Personal Data, Contractor shall: (a) immediately notify the State of such Breach of Security, but in no event later than seventy-two (72) hours after learning of such security breach…”

The State declines to revise provisions regarding State Background Check requirements. The requirements of SSTC Section 9 – Additions to the Standard Terms and Conditions for All Information Technology Contracts Which Includes Software as a Service (SAAS)/Cloud Solutions shall be in effect whenever applicable.

The requirements of SSTC Section 9 – Additions to the Standard Terms and Conditions for All Information Technology Contracts Which Includes Software as a Service (SAAS)/Cloud Solutions shall be in effect whenever applicable. The State requires logs and reports in case of a breach or incident. The Bidder is expected to produce information on an as needed basis or upon request.

The requirements of SSTC Section 9 – Additions to the Standard Terms and Conditions for All Information Technology Contracts Which Includes Software as a Service (SAAS)/Cloud Solutions shall be in effect whenever applicable. The State does not accept the proposed modification to the identified section. The SOC2 Type 2 report is an audit of the company's Cloud infrastructure and related services and should be provided as a supplemental document as a part of the Security Questionnaire submission. A SOC2 Type 2 report would not fulfill the requirements of Section 9.1(8).

This is not a question and cannot be answered as posed. However, please note that a SOC2 Type 2 audit would be appropriate and relevant for this section. The requirements of SSTC Section 9 – Additions to the Standard Terms and Conditions for All Information Technology Contracts Which Includes Software as a Service (SAAS)/Cloud Solutions shall be in effect whenever applicable.

This is not a question and cannot be answered as posed. However, the State does not accept any proposed modification to the identified section. The requirements of SSTC Section 9 – Additions to the Standard Terms and Conditions for All Information Technology Contracts Which Includes Software as a Service (SAAS)/Cloud Solutions shall be in effect whenever applicable.

This is not a question and cannot be answered as posed. The requirements of SSTC Section 9 – Additions to the Standard Terms and Conditions for All Information Technology Contracts Which Includes Software as a Service (SAAS)/Cloud Solutions shall be in effect whenever applicable. When applicable, the Contractor must provide the State with a means to accomplish the import or export of data.

Exhibit A of the State Standard Terms and Conditions shall remain applicable. The State does not accept any proposed modification to the applicable section. Every Bidder submitting a Quote agrees to the terms and conditions of the Revised Bid Solicitation and any accompanying documents.

The State accepts the proposed modification and the new language shall read:

The Contractor shall secure and maintain in force for the term of the contract insurance as provided herein. All required insurance shall be provided by insurance companies with an A-VII or better rating by A.M. Best & Company. Contractor will provide 30 days' written notice of cancellation or material change to the State of New Jersey at the address shown below. The contractor shall provide the State with current certificates of insurance for all coverages upon execution of the Agreement and renewals thereof. Renewal certificates shall be provided within 30 days of the expiration of the insurance. The certificates of insurance shall indicate the contract number or purchase order number and title of the contract in the Description of Operations box and shall list the State of New Jersey, Department of the Treasury, Division of Purchase & Property, Contract Compliance & Audit Unit, P.O. Box 236, Trenton, New Jersey 08625 in the Certificate Holder box. The certificates and any notice of cancelation shall be emailed to the State at: ccau.certificate@treas.nj.gov

Please refer to Revised Bid Solicitation Section 7.2, Insurance.

The State does not accept the proposed modification to the identified section.

The State accepts the proposed change to the identified section. See Revised Bid Solicitation Section 7.2.1, Worker’s Compensation Insurance.

The State declines to modify the identified section. Please see Revised Bid Solicitation Section 7.2, Insurance.

The State declines to modify the identified section. Please see Revised Bid Solicitation Section 7.2, Insurance.

The State declines to modify the identified section. Please see Revised Bid Solicitation Section 7.2 Insurance.

While participants residing in Puerto Rico are not explicitly excluded from participation, there are currently no active employees. There are seven (7) former employees with a Puerto Rico address.

A sample of the curriculum can be found at the following website, https://www.dcprovider.com/EE/NJRP/DOCS/Webinar-Schedule.pdf

Currently, NJSEDCP has 84 Powers of Attorney and NJDCRP has 20 Powers of Attorney.

Total assets in GoalMaker for NJSEDCP were $2,309,578,098 and for NJDCRP were $51,783,403 as of 6/30/2025, with 37,442 participants in NJSEDCP and 4,360 participants in NJDCRP using GoalMaker.

All historical data will need to be converted.

Yes, all are allowed.

There are no additional transaction fees currently.

For the DCP Stable Value Fund, a 90-day equity wash provision applies for transfers to any competing funds. There are currently no competing funds in the Plans.

RMD’s are processed in November and December.

Pursuant to Section 4.2.2 of the Revised Bid Solicitation, the Contractor shall provide one (1) On-Site Service Representative. A minimum of ten (10) Field Service Representatives shall be assigned territories to service employees and their beneficiaries at or near their home or at their employer worksite.

The On-Site Service Representative will have office space made available, by DPB, in the State’s Offices located at 50 West State Street, 1st Floor, Trenton, NJ. See Revised Bid Solicitation Section 4.2.2 for instructions.

See Revised Bid Solicitation Sections 3.13.6 and 6.7(E). The Contractor must not store or transfer State of New Jersey data outside of the United States. Further, pursuant to N.J.S.A. 52:34-13.2, all Contracts primarily for services shall be performed within the United States, therefore all participant-facing resources must be provided within the United States.

Please refer to Exhibit 5, Asset Summary By Investment Option. There is a tab for NJSEDCP and another for NJDCRP.

Please refer to Exhibit 6, Location And Participant Data. There is a tab for NJSEDCP and another for NJDCRP.

As of June 30, 2025, NJSEDCP had $6,277,120,924 in assets with 57,573 accounts with balances and NJDCRP had $612,915,635 in assets with 122,941 accounts with balances.

For NJSEDCP, total contributions were $220,804,971 and total distributions were $370,629,005 from 3/1/24 to 12/31/24. From 1/1/25 to 6/30/25, total contributions were $142,711,606 and total distributions were $215,817,540.

For NJDCRP, total contributions were $57,696,239 and total distributions were $18,709,426 from 3/1/24 to 12/31/24. From 1/1/25 to 6/30/25, total contributions were $43,184,057 and total distributions were $13,559,194.

No. The State intends to maintain the current fund line up.

As indicated in Revised Bid Solicitation Section 3.26 and the Instructions of the State-Supplied Price Sheet, if a fee or service is not applicable, add "N/A" to each price line in the applicable column (B, C, and/or D). Any highlighted price lines that do not include a response, will be considered as an "Incomplete Fee quote" and may result in the Quote being deemed non-responsive. The Bidder shall submit its pricing in the requested format and may not add additional rows or columns on the State-Supplied Price Sheet.

Self-Directed Brokerage Accounts and Loans are not allowed in the Plans.

The State requires daily accounting records.

Both market prices and unitized NAVs are utilized.

NJSEDCP has 144 payrolls funded via wire and NJDCRP has 108 payrolls funded via wire. The other information requested is not available.

The State of New Jersey Plans are held on an Omnibus platform utilized by SAP and this information is not available.

SAP is the general ledger system currently used.

The plan sponsor (State of NJ) does not handle the reporting of contributions. The process is handled between the employer payroll department and the contracted record keeper.

The State of New Jersey Plans are held on an Omnibus platform utilized by SAP and this information is not available.

Please refer to the answer to Question #63.

a. Performance Measurement: i. Monthly or daily? ii. To what level (asset class, sector/country, security)? iii. Non-Lagged Performance Reporting? iv. Internal Rates of Return (IRRs)?

b. Investment-Level Transparency: i. Holdings-level analysis of private investments? ii. Integrating investment-level information with public market positions? iii. Benchmarks/Universes: Vintage-Year Comparisons with Customized Comparisons? iv. Benchmark Performance

c. Please provide the index families used today for benchmarking, including number of custom benchmarks. i. How many custom benchmarks? ii. Monthly Attribution iii. Portfolio and Security Analytics iv. Monthly or daily? v. Universe Comparison (Peer and Manager Universes) vi. Board Reporting vii. Compliance Monitoring 1. If yes, daily or monthly? Please note, daily monitoring requires subscription to daily analytics, monthly monitoring requires subscription to monthly analytics viii. Are you looking for Ex-ante Risk, Historical Stress and Scenario Analysis? ix. Are you looking for research management capabilities?

Please refer to Revised Bid Solicitation Sections 4.3, 4.4, and 4.5 regarding required reports and services. The State requests some flexibility with providing information based on plan needs.

A. Number of non-periodic payments made via Check per month – include distributions, rollovers, hardship withdrawal, RMD & loans (or annual)?

B. Number of non-periodic payments made via ACH per month – include distributions, rollovers, hardship withdrawal, RMD & loans (or annual)?

C. Number of wires per month (or annual)?

D. International payments per month (or annual)?

E. In USD or local currency? i. If local currency, which ones?

F. Number of tax forms per year?

G. BNY to communicate TEFRA annually Y/N (for Qualified DB plans only)?

H. Number of States taxes are being withheld and deposited to?

I. For refined agency filings, provide state listing J. Call Center required Y/N?

K. Participant Website required Y/N?

L. Number of stop payments)?

M. Number of corrected tax forms?

N. Number of duplicate tax forms?

A:

B.

C. Refer to the answer to Question #59.

D. None E. Not applicable F. Tax Year 2024: NJSEDCP - 8,372 & NJDCRP - 3,540 G. Not applicable. NJSEDCP & NJDCRP are qualified Defined Contribution (DC) plans.

H & I. Tax Year 2024: NJSEDCP: 43 states and the District of Columbia (Al, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KY, MA, MD, ME, MI, MN, MO, MT, NC, NE, NH, NJ, NM, NV, NY, PA, RI, SC, SD, TN, TX, VA, VT, WA, WI, WV, WY), NJDCRP: 35 States and the District of Columbia (AL, AZ, CA, CO, CT, DC, DE, FL, GA, ID, IL, KS, KY, MA, MD, ME, MI, MN, MO, MT, NC, NJ, NV, NY, OH, OR, PA, RI, SC, TN, TX, UT, VA, WA, WI, WV) J. Yes K. Yes L. 2025 for NJSEDCP is 149 & for NJDCRP is 1,135 M. Tax Year 2024: NJSEDCP - 2 & NJDCRP - 0 N. Tax Year 2024: NJSEDCP - 0 & NJDCRP - 0

B. Are you replacing your current stable value provider?

C. Will NJSEDCP and NJDCRP convert simultaneously, or could they convert on different timelines?

D. Will the State provide a detailed data dictionary and historical transaction files as part of conversion?

E. Does the State anticipate awarding a single contract for both plans or reserves the right to award separately?

F. Will the State consider value-added participant education services if provided at no additional cost?

G. Is there a preferred approach to participant communications during conversion (State-led vs. vendor-led)?

A. There is currently a sole recordkeeper for the Plans. A full conversion should be assumed.

B. The State intends to keep all investments as-is.

C. Plans will be converted simultaneously.

D. Data will be provided as available from the incumbent provider.

E. The State intends to award one (1) Contractor resulting from this Revised Bid Solicitation to provide both 457(b) and 401(a) Defined Contribution Plan related services.

F. Yes, the State will consider and will have final say in such an offering, however, please also see Revised Bid Solicitation Section 3.11. Any additional terms will be accepted or rejected in the Notice of Intent to Award.

G. The State intends to work in conjunction with the selected vendor on participant communications.

B. What is the expected target contract start date and earliest possible conversion date?

C. Will parallel testing with the incumbent system be required, and if so, for what duration?

D. Approximately how many active, terminated, and beneficiary accounts exist across each plan?

E. Are there self-directed brokerage windows, legacy investment options, or closed funds currently in place?

F. Are there guaranteed, stable value, or insurance-based products with contractual restrictions that may affect conversion?

A. The State will review blackout approaches during the conversion planning process.

B. The target contract effective date is currently January 1, 2027; however, this is an estimate and subject to change based upon the actual Contract award date.

C. Parallel testing should be performed for at least one month.

D. As of June 30, 2025, there are 63,793 active accounts and 59,138 inactive accounts in the 401(a) Plan and 45,072 active accounts and 12,482 inactive accounts in the 457(b) Plan.

E. No. There are no self-directed brokerage windows, legacy investment options, or closed funds currently in place.

F. The State intends to maintain the current fund lineup.

The target contract effective date is currently January 1, 2027; however, this is an estimate and subject to change based upon the actual Contract award date.

Customer Service provided: Dedicated On Site-Representatives, Dedicated Toll-Free Call Center Number, Live Call Support and Website Chatbot. Representatives are pooled and there are no variations.

Though not required, any support that can be provided to the Spanish speaking population would be beneficial. We do not maintain data on calls to non-English speaking participants.

Please refer to Revised Bid Solicitation Section 4.4(I), Employer Level Services.

The State accepts this change. Please refer to the Revised Bid Solicitation Section 6.1, Security Plan.

The State declines to provide this information.

The State declines to…