Section 457(b) Deferred Compensation Plan Services
Millburn Township
Original Solicitation Links
Submission Instructions
Description
Millburn Township seeks a qualified provider to consolidate its two existing governmental Section 457(b) deferred compensation programs under a single provider and provide ongoing administration. The scope includes participant account administration and recordkeeping, contribution processing and payroll coordination, traditional pre-tax and Roth contributions, rollovers, distributions, required minimum distributions, tax reporting, participant loans, plan sponsor reporting, and regulatory support. The selected provider must manage the transition and consolidation of existing participant records, assets, investments, loans, communications, enrollment, and related approvals. Ongoing services include a diversified investment platform, fixed interest or stable value options, quarterly on-site plan review meetings, semiannual on-site employee education seminars, individual financial and retirement planning consultations, participant support, online and mobile access, cybersecurity information, and reporting. Proposals must address firm qualifications, comparable governmental references, service personnel, plan features, investment options and fees, transition approach, technology and security, and complete the required proposal forms and certifications. Providers must demonstrate current approval and eligibility from the New Jersey Division of Local Government Services.
Classification Codes
Smart Codes
Specifications
Timeline
Requirements
- Professional Liability/Errors & Omissions — $3,000,000.00
- Workers' Compensation
- Automobile Liability and Property Damage — $3,000,000.00
- Minimum 3 references
- Client point of contact required for each reference
Documents
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