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Needham Public Schools, serving as the lead district for a 48-member Collective Purchasing Group of Massachusetts public school districts and educational collaboratives, is issuing Request for Proposals #27SCH001G to procure qualified independent Third-Party Administrators (TPAs) to provide comprehensive 403(b) tax-deferred investment plan administration and IRS compliance services. The scope of services includes plan document review and customization, service provider agreement management, salary reduction agreement compliance, employee enrollment processing, contribution remittance and reconciliation, transaction authorization and monitoring (including rollovers, transfers, loans, and distributions), required minimum distribution notifications, hardship withdrawal assessments, catch-up contribution eligibility determination, compliance auditing, employee communications, and records retention. Qualified bidders must demonstrate a minimum of five years of continuous 403(b) third-party administration experience as of April 10, 2026, maintain responsibility for a minimum of fifty 403(b) plans or 10,000 active participants with salary reduction agreements, provide verifiable client references with five years of service history, and designate key personnel with at least three years of 403(b) account servicing experience. The RFP was released on April 10, 2026, with written questions due by April 24, 2026 at 12:00 PM and proposals due May 11, 2026 at 10:00 AM to the Office of the Assistant Superintendent for Finance and Operations at Needham Public Schools, 1330 Highland Avenue, Needham, MA 02492. Contract award is anticipated within 90 business days of bid opening, with the selected TPA entering into a Master Agreement for a three-year term commencing January 1, 2027 through December 31, 2029. Proposals will be evaluated on technical merit before price consideration by a Technical Review Committee consisting of Needham Public Schools' Assistant Superintendent for Finance and Operations and representatives from select CPG districts; pricing proposals must be submitted separately in sealed envelopes and remain firm for 90 days following bid opening, with complete cost breakdowns required for all services itemized by task or segment.

No set-aside designations or restrictions limiting the types of organizations that can respond are specified in the procurement documents. The selected contractor must carry professional malpractice or Errors and Omissions liability insurance with minimum limits of $1,000,000 per occurrence and $2,000,000 aggregate with a maximum deductible of $25,000. All CPG member districts are tax-exempt entities and will provide exemption certificates to the selected TPA. The contract covers an estimated 30,000 total employees across CPG members, though actual 403(b) plan participation will likely be lower, and there is no guarantee that all CPG members will engage the awarded TPA. Bidders must submit one original plus three copies of all bid forms. No specific budget range or award value is disclosed in the RFP documentation.