Washington Saves Program Consultant

The Washington State Department of Financial Institutions (DFI) is conducting a competitive solicitation (No. 2026-1) for a Washington Saves Program Consultant to support the Washington Saves Governing Board in developing and implementing an auto-IRA retirement savings program. The consultant will provide comprehensive technical and administrative expertise, including program development, regulatory compliance, procurement, and vendor selection. Key deliverables include drafting regulations, advising on governance, assessing vendor performance, monitoring industry trends, and delivering training under the Program Manager's direction. The solicitation requires bidders to demonstrate extensive experience in public-sector retirement savings programs, with key personnel having at least five years of industry experience and being registered as a Municipal Advisor with the MSRB. The evaluation process will utilize a 180-point scoring system, with 100 points for non-cost factors, 50 points for cost factors, and up to 30 points for Washington state procurement priorities. A virtual pre-bid conference is scheduled for August 27, 2025, with proposals due by October 15, 2025, and an anticipated contract award date of November 20, 2025.

The procurement offers additional preference points for specific certifications, including 10 points for compliance with Executive Order 18-03, 10 points for Washington Small Business certification, and 10 points for Veteran-Owned Business certification. The contract has a maximum value of $225,000 and will run for up to 36 months, with the program expected to fully launch in July 2027 following a pilot phase. Bidders must submit proposals electronically to wasaves@dfi.wa.gov, with email attachments not exceeding 30MB in size. Contractors must maintain various insurance coverages, including commercial general liability, workers' compensation, professional liability, and automobile liability insurance. The successful bidder will be responsible for providing strategic guidance, conducting market analysis, and supporting the Board's objectives of creating a retirement savings option for employees without workplace retirement plans. Bidders must be registered with Washington's Electronic Business Solution (WEBS), have a Unified Business Identifier (UBI) number, and comply with state wage, tax, and non-discrimination laws.