Description
The State of New Jersey is seeking a contractor to provide administrative services for the Defined Contribution Retirement Program (NJDCRP) and the New Jersey State Employees Deferred Compensation Plan (NJSEDCP). The contractor will be responsible for providing recordkeeping and administration services, including maintaining individual plan account balances, processing deposits, transfers, charges, and withdrawals, preparing and distributing participant statements of account, and answering participant questions. The contractor will also be required to provide investment management services, including managing the portfolio and providing investment options to participants. The contract will be for a period of 60 months, with the option to renew.
• The contractor must have experience in providing administrative services for defined contribution retirement plans.
• The contractor must have the ability to provide investment management services, including managing the portfolio and providing investment options to participants.
• The contractor must have a strong customer service record and be able to provide timely and accurate responses to participant inquiries.
• The contractor must be able to provide recordkeeping and administration services, including maintaining individual plan account balances and processing deposits, transfers, charges, and withdrawals.
• The contractor must be able to prepare and distribute participant statements of account and answer participant questions.