Deferred Compensation Plan Provider Services

Gilbert Public Schools is soliciting proposals for a Deferred Compensation Plan Provider to support its Special Pay Buyback program. The selected single vendor will serve as the primary resource for employee education and financial guidance, specifically helping eligible staff understand and establish Health Reimbursement Arrangement (HRA) and 403(b) accounts. The provider is responsible for conducting one-on-one meetings, managing the end-to-end account opening process, and providing all legally required disclosures regarding fees and fiduciary status. The provider will not be responsible for plan administration, eligibility determinations, or buyback calculations. The contract features an initial term of one calendar year with the possibility of four consecutive 12-month extensions, though there is an intent to award a multi-term contract continuing through June 30, 2027, with a potential five-year total period. Proposals are due by September 25, 2026, and will be evaluated using a points-based system focusing on the most advantageous offer rather than price alone. Requirements for submission include resumes of key personnel, at least three references from public school districts, and a comprehensive cost proposal. Payment terms are net thirty days following the submission of detailed invoices to the District's Accounts Payable Department.