Santa Cruz County Opengov #25P3-006

Santa Cruz County Solicits Comprehensive Retirement Plan Recordkeeping and Administration Services

The County of Santa Cruz is seeking a qualified vendor to provide comprehensive retirement plan recordkeeping and administration services for its deferred compensation plans. - Government Buyer: - County of Santa Cruz, General Services Department, Purchasing Division - Main office at 701 Ocean Street, Suite 330, Santa Cruz, CA - OEMs and Vendors: - MissionSquare Retirement (current provider) - Products/Services Requested: - Comprehensive retirement plan recordkeeping and administration services - Plan setup, transition, and ongoing administration - Participant recordkeeping and account maintenance - Payroll and contribution processing - Investment administration, trust and/or custody - Compliance support and regulatory updates - Participant services and service center operations - Plan sponsor services and reporting - Communication, education, and financial wellness programs - Data conversion and support for potential future features (e.g., self-directed brokerage accounts) - Notable Requirements: - Single vendor to provide fully bundled services (no front-end or back-end charges) - Vendor must have at least ten years of relevant experience - Emphasis on data security, compliance with U.S. labor laws, and local vendor preference - Current plan assets total approximately $320.5 million for about 2,620 benefit-eligible employees - Services to be provided across three main county locations - All aspects of plan operations, participant education, and compliance included

Description

The County of Santa Cruz is seeking sealed proposals from qualified vendors to provide comprehensive retirement plan recordkeeping and administration services. The scope includes plan setup, transition, ongoing administration, participant recordkeeping, payroll and contribution processing, investment administration, compliance support, participant services, plan sponsor services, and communication and education. The contract aims to support retirement plan operations for eligible participants and County staff, with an initial term ending December 31, 2034, and a potential one-year extension. Proposals must be submitted electronically by June 19, 2026.

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