T2327 - Defined Contribution Retirement Program Administrative Services: NJSEDCP & NJDCRP
Closed State & local contract opportunity Posted
- Solicitation number
- 26DPP01201
- State
- New Jersey
- Responses due
Opportunity facts
- NIGP codes
- UNSPSC codes
- 84131610 Flexible spending accounts FSA
- 64101602 Money market account
- 64101603 Simple checking account
- 64111902 Principal unprotected structured financial product
- 93151609 Lotteries services
- 84121700 Investment advice
- 64102001 Education savings account
- 64102007 Basic investment account
- 84101702 Debt reorganization
- 84121702 Investment policy
Show all 49
- 64000000 Financial Instruments, Products, Contracts and Agreements
- 64101600 Demand deposit accounts
- 64101601 Interest bearing checking account
- 64101701 Bill paying application
- 64101704 Over draft protection
- 64111801 Allotment or bonus right
- 64111903 Exchange traded fund ETF
- 64111904 Single structured product
- 64111906 Variable annuity
- 93151605 Government finance services
- 64102000 Investment accounts
- 64102002 Health savings account
- 64102006 Simplified employee pension SEP account
- 64102008 Managed investment account
- 84101703 Debt servicing
- 64100000 Bank offered products
- 64111800 Entitlements or rights
- 64101700 Electronic fund transfer and payment products
- 64111900 Structured financial products
- 64111803 Purchase right
- 64111905 Over the rainbow structured product
- 64101703 Money transfer application
- 84131614 Underwriting service
- 64102003 Individual retirement account IRA, corporate
- 84121705 Market data
- 93141902 Rural investment services
- 64101500 Time deposit accounts
- 64111901 Principal protected structured financial product
- 64101501 Certificate of deposit CD
- 64101502 Simple savings account
- 64101702 Currency exchange application
- 64111802 Subscription right
- 64111804 Warrant
- 64102004 Individual retirement account IRA, personal
- 64102005 Individual retirement account IRA, public sector
- 84101701 Debt negotiation
- 84121701 Investment advisers
- 84121704 Investment agreements
- 84121703 Investment analysis
- Point of contact
-
- NJSTART Vendor Administration Team njstart@treas.nj.gov (609) 341-3500
Opportunity details come from njstart.gov. Updated .
About this opportunity
The State of New Jersey Department of the Treasury, Division of Purchase and Property is soliciting bids for comprehensive administrative services for two defined contribution retirement plans: the New Jersey State Employees Deferred Compensation Plan (NJSEDCP), a 457(b) governmental plan, and the New Jersey Defined Contribution Retirement Program (NJDCRP), a 401(a) plan. The selected vendor will provide turnkey recordkeeping and administration services, including participant account management, investment administration across 27 investment options, educational services, customer support, and employer-level services for approximately 41 remitting locations for the 457(b) plan and 750 active locations for the 401(a) plan. Required qualifications include over five years of experience administering bundled services for 401(a) and 457(b) plans, management of at least five defined contribution plans with a minimum of 50,000 participants, and ability to provide assets on a group contract basis. Key evaluation criteria will focus on technical capabilities, pricing structure, and service delivery model. The optional pre-quote conference is scheduled for December 23, 2025, at 10:30 AM Eastern Time, with electronic questions due by January 5, 2026, at 2:00 PM. Quotes are due February 20, 2026, at 2:00 PM, with a base contract term of five years and options to extend up to two additional years.
No small business or disabled veterans' business set-asides apply to this procurement. The incumbent contractor is Empower (formerly Prudential). The plans collectively serve 163,987 unique participants across 1,814 participant locations, with total assets of approximately $6.1 billion. Bidders must submit pricing on a fixed flat dollar-per-participant basis, including implementation, conversion, administration, recordkeeping, education, and trustee expenses. Revenue sharing from investments will be rebated to participants. The contract requires one dedicated on-site representative and ten full-time field service representatives. Insurance requirements include professional liability insurance of at least $2,000,000 per claim and cyber breach insurance of not less than $10,000,000 per occurrence. While no specific budget range is explicitly stated, the pricing structure and participant count suggest a significant annual contract value. All plan expenses are to be borne by participants, with the State seeking a single-source service provider to manage both retirement plans comprehensively.
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