Deferred Compensation Recordkeeper

The County of Santa Cruz is seeking a vendor to provide comprehensive retirement plan recordkeeping and administration services for its deferred compensation plan. The selected vendor will be responsible for plan implementation, transition, and ongoing administration, as well as participant recordkeeping, payroll and contribution processing, investment administration, and compliance support. The vendor will also provide participant services, plan sponsor services, and communication, education, and financial wellness programs. The contract is expected to start in January 2027 and last for 12 months. The County is looking for a vendor with at least 10 years of experience in administering governmental section 457 deferred compensation plans and a minimum of $250 million in assets under management. • The vendor will be responsible for plan setup, transition, and ongoing administration framework • The vendor will provide participant recordkeeping and account maintenance services • The vendor will process payroll and contribution processing • The vendor will provide investment administration, trust, and/or custody services • The vendor will provide compliance support, testing, and regulatory updates • The vendor will provide participant services, service center, and transactions • The vendor will provide plan sponsor services, governance support, and reporting • The vendor will provide communication, education, engagement, and financial wellness programs