Vanguard Small Cap Index.pdf

This is a product specification document related to the State of New Jersey Department of the Treasury's solicitation for defined contribution retirement plan administrative services covering the New Jersey State Employees Deferred Compensation Plan (NJSEDCP) and the New Jersey Defined Contribution Retirement Program (NJDCRP). The document appears to be a fact sheet or informational material regarding the Vanguard Small Cap Index, one of the 27 investment options available within these retirement plans. The solicitation requires the selected vendor to provide comprehensive turnkey recordkeeping and administration services for approximately 163,987 unique participants across 1,814 participant locations, with total plan assets of approximately $6.1 billion. The optional pre-quote conference is scheduled for December 23, 2025, at 10:30 AM Eastern Time, with electronic questions due by January 5, 2026, at 2:00 PM, and quotes due February 20, 2026, at 2:00 PM. The base contract term is five years with options to extend up to two additional years.

Bidders must submit pricing on a fixed flat dollar-per-participant basis, which must include implementation, conversion, administration, recordkeeping, education, and trustee expenses, with revenue sharing from investments to be rebated to participants. The incumbent contractor is Empower (formerly Prudential). No small business or disabled veterans' business set-asides apply to this procurement. The selected vendor must have over five years of experience administering bundled services for 401(a) and 457(b) plans and demonstrate capability to manage at least five defined contribution plans with a minimum of 50,000 participants. Required staffing includes one dedicated on-site representative and ten full-time field service representatives. Insurance requirements mandate professional liability insurance of at least $2,000,000 per claim and cyber breach insurance of not less than $10,000,000 per occurrence. All plan expenses are to be borne by participants through the pricing structure established by the selected vendor.