RFP-Benefit Banking

The State of Illinois Department of Employment Security (IDES) has issued a Request for Proposals (RFP) for Benefit Banking services to manage the state's unemployment benefits to be paid out to eligible claimants. The selected vendor will be responsible for establishing and maintaining accounts, processing electronic funds transfers, preventing fraud, providing comprehensive reporting, and ensuring data security and disaster recovery. The RFP outlines specific requirements for the vendor's proposed solution, including the ability to disburse benefits through debit cards, direct deposits, and paper checks, as well as provide lockbox services to process various types of repayments. The anticipated contract term is five years, with an option to renew for an additional five-year term. The RFP includes a technical, commitment to diversity, and pricing evaluation, and vendors must submit their responses electronically through the BidBuy system by March 11, 2022.

The RFP includes a 1% Business Enterprise Program (BEP) utilization goal, and vendors must demonstrate how they will meet this requirement through self-performance or subcontracting with BEP-certified vendors. The RFP does not specify any set-aside designations or restrictions on the types of organizations that can respond. The incumbent provider for this contract is Conduent State & Local Solutions, Inc., who was awarded a contract valued at $3,044,620 for an initial 5-year term with an optional 5-year renewal.