SURCH Services for Unclaimed Property

The Michigan Department of Treasury has issued an Invitation to Negotiate (ITN) for SURCH Services related to Unclaimed Property, specifically seeking to establish a three-year service agreement for an Unclaimed Retirement Clearing House. The primary objective is to create a voluntary reporting mechanism for private sector retirement plans to transfer uncashed distribution checks, including ERISA checks, to the State of Michigan. The solicitation was released on 4/29/2025, with questions accepted until 5/7/2025 at 4:00 PM through www.michigan.gov/SIGMAVSS. Potential alternative providers must submit their responses to Solicitation Manager Julie Collins by 5/7/2025, with the procurement categorized under commodity code 94630 for Cash/Securities and Bonding Services. The state is explicitly seeking to identify possible alternatives to the current proposed provider, demonstrating a transparent procurement process that aims to establish a new approach to managing uncashed retirement plan distribution checks. The solicitation indicates an intent to develop a comprehensive system for tracking and managing these financial assets that have historically gone unreported.

The procurement appears open to various providers, with no specific set-aside designations mentioned in the available documentation. The intended source is the National Association of State Treasurers, located in Washington, D.C., but the state is actively seeking alternative providers through this open negotiation process. While specific budget ranges are not detailed in the provided documents, the three-year service agreement suggests a potentially significant contract value for the selected vendor. The solicitation indicates this is a new contract approach, meaning there may not be an incumbent vendor for this specific unclaimed property clearing house service. The procurement does not explicitly outline disadvantaged enterprise requirements or specific integration mandates with existing technology infrastructure. Potential respondents should be prepared to demonstrate capabilities in managing financial assets, particularly in the context of uncashed retirement plan distribution checks, and show a comprehensive understanding of the state's objectives for establishing this voluntary reporting mechanism.