TREA - Unclaimed Property System

The Michigan Department of Technology, Management and Budget, procuring on behalf of the Michigan Department of Treasury, is requesting proposals for a contractor-hosted commercial off-the-shelf unclaimed property system, with proposals due August 24, 2026 at 11:50 a.m. Eastern and questions due August 5, 2026 at 3:00 p.m. Eastern.

The scope is a comprehensive lifecycle management platform for unclaimed property, including receipt and processing of approximately 30,000 annual holder reports; management of cash, securities, digital assets, and tangible items; claims processing; perpetual record retention; and public-facing portals for both holders and claimants. The system must integrate with Michigan's SIGMA, CEPAS, FileNet, LexisNexis, and MiLogin systems; comply with Michigan IT policies and data security standards; support high-volume operational scalability; provide comprehensive reporting and analytics; and include robust disaster recovery and service level agreements.

The initial contract term is seven years (September 14, 2027 through September 13, 2034) with renewal options for up to three additional one-year periods at the State's discretion. Pricing must be fixed throughout the initial term with no increases permitted and submitted separately from technical proposal documents. The contract is subject to State Administrative Board approval if valued at $250,000 or greater.

Evaluation criteria weight vendor experience at 30 points, resumes at 10 points, and the Statement of Work response at 145 points; proposals scoring 150 or more points advance to pricing evaluation. The State reserves the right to conduct on-site visits, require proof-of-concept meetings, and request additional price concessions. Oral or demo presentations are targeted for the week of October 19, 2026. Contractors must obtain prior written State approval for all subcontractors and third-party hosting or software providers and flow down security and performance obligations to all permitted subcontractors. Comprehensive insurance, data security, and transition planning requirements apply per contract schedules.