RFP NO. 2026-45 457(b) Deferred Compensation Retirement Plan Administrator/Service Provider for the City of Brookside Village

The City of Brookside Village, Texas is requesting proposals for a third-party administrator and service provider for its governmental deferred compensation plan under IRC Section 457(b), with sealed proposals due November 4, 2026 at 5:00 p.m. CDT at City Hall. This is a best-value procurement with no stated set-aside or preference program.

Proposers must meet eight mandatory minimum qualifications: at least five years of continuous experience administering governmental 457(b) plans for U.S. political subdivisions; current administration of plans for no fewer than ten public-sector employers including three Texas entities; errors-and-omissions and cyber liability insurance of at least $2,000,000 per claim and $4,000,000 aggregate; and a fidelity/crime bond of $1,000,000. The scope encompasses recordkeeping, daily valuation, participant services, investment platform management, education and communications, technology infrastructure, trustee/custodial services, compliance support, and conversion or implementation services if replacing an incumbent provider.

The City specifically seeks transparent, all-in pricing structured in two formats — per-participant fees and asset-based basis-point fees — with a preference for revenue-neutral structures using institutional share classes and explicit administration fees. All fees must be disclosed, including implementation, conversion, trustee, managed-account, loan, distribution, deconversion, and indirect compensation sources such as revenue sharing and 12b-1 fees.

The initial contract term is three years from execution or first contribution, with renewal options for up to two additional one-year periods. Commencement and conversion are anticipated on or about December 1, 2026. City Council will open and consider proposals on November 18, 2026 at 7:00 p.m.

Evaluation criteria are weighted as follows: experience and references 20%, investment menu quality 20%, transparent fees and net participant cost 25%, education and communications 15%, technology and cybersecurity 10%, and implementation and service standards 10%. Written questions are due October 21, 2026 at 5:00 p.m. CDT.