Recordkeeping Services for Defined Contribution and Deferred Compensation Plans

The City of Tallahassee is seeking proposals from qualified providers to deliver recordkeeping services for its Defined Contribution and Deferred Compensation Plans. The contract aims to streamline administrative processes by leveraging advanced systems technology, enhancing participant communication, and facilitating smooth plan conversions. The procurement process, identified as RFP-111-25-KM, was posted on September 19, 2025, with a response deadline of October 31, 2025. The contract is anticipated to span three years with the possibility of two additional one-year extensions, and the project budget ranges from $500,000 to $2,000,000. The selected vendor will be responsible for comprehensive plan administration, including maintaining accurate records, ensuring compliance, and providing participant services, all while adhering to the City’s procurement policies and local vendor preferences. The RFP package includes detailed submission instructions, including completing certifications such as the W-9, Non-Collusion Affidavit, and Vendor Responsibility Review Form, as well as disclosures related to conflicts of interest and local business participation. Vendors must demonstrate their capability through references, including at least one government contract, and provide certifications of a drug-free workplace and responsible business practices. The City emphasizes the importance of responsible vendors with proven experience, integrity, and the ability to deliver innovative, reliable recordkeeping solutions. The procurement process is managed through the Bonfire portal, with Keith Milton serving as the primary contact for inquiries, ensuring a transparent and competitive selection process aimed at securing a vendor capable of supporting the City’s retirement plan administration efficiently and effectively.