MSRP Plan Administrator Services for Supplemental Retirement Plans RFP G50B5600001

The Maryland Teachers & State Employees Supplemental Retirement Plans (MSRP) are seeking proposals from qualified vendors to provide comprehensive administrative and record-keeping services for four government-sponsored defined contribution retirement plans: the 457(b) Deferred Compensation Plan, the 401(k) Savings & Investment Plan, the 403(b) Tax Sheltered Annuity Plan, and the 401(a) Match Plan. The goal is to establish a contractual relationship with a single contractor capable of delivering all required services, including plan administration, participant communications, enrollment, transaction processing, and record-keeping, ensuring seamless management of these plans. The procurement process emphasizes competitive sealed proposals, with the intent to award one contract, and mandates that the selected Offeror, either directly or through subcontractors, meet all specified requirements and remain responsible for contract performance throughout the engagement. The solicitation, identified as G50B5600001 with a response deadline of November 29, 2024, is managed by the Maryland State Department of Education’s (SLED) Office of the MSRP Board of Trustees. The contract size is estimated to range between five and fifteen million dollars, reflecting the scope and importance of the services. Bidders are required to submit detailed documentation, including bid bonds, references from past state contracts, company and certification information, and affidavits affirming compliance with legal and ethical standards. The process involves thorough evaluation of responsibility, past performance, and capability, with the primary contact for inquiries being Damien Word. The overarching objective is to secure a reliable partner to efficiently administer these critical retirement plans, ensuring compliance, transparency, and optimal service delivery for Maryland’s educators and state employees.