HOPE01-24 - Program Administration

The California HOPE for Children Trust Account Program Board (HOPE) has issued a Request for Information (RFI) to solicit input from vendors and other interested parties to help develop an upcoming Request for Proposals (RFP) for a Program Administration contract. The RFI outlines the scope of services that may be included in the RFP, such as enrollment, account management, participant engagement, web and app user interfaces, marketing and outreach, recordkeeping, regulatory compliance, and coordination with HOPE staff and partners. HOPE is seeking responses that address the vendor's experience, recommendations on the scope of services, examples of minimum and best standards of practice, typical cost ranges, and other recommendations for the RFP. HOPE will use the responses to identify potential vendors, define the scope of services, and establish standards of practice for the Program Administration contract. The RFI states that responses are due by August 28, 2024.

The HOPE for Children Trust Account Program was established by the California Legislature to create opportunities, economic autonomy, and hope, and to promote intergenerational wealth and asset building for eligible children, including those from low-income families who have lost a parent or guardian to COVID-19 and long-term foster children. The program is projected to have $145 million available to fund HOPE Accounts when the program becomes operational in 2025, with an estimated 58,500 eligible children at launch and an additional 10,000 eligible annually. The RFI does not specify any set-aside designations or restrictions on the types of organizations that can respond, and it does not provide information on any incumbent vendors or current contractors.