Description
The State of Alaska, Department of Administration (DOA), Division of Retirement and Benefits (DRB) is seeking information from qualified vendors capable of providing guaranteed lifetime income products for large public defined contribution plans. The DRB manages the State’s Defined Benefit (Tier I, II, and III) and Defined Contribution Plans (Tier IV) and is looking for a guaranteed lifetime annuity product that could provide retirees with a guaranteed monthly benefit for the duration of their lifetime. Interested parties must submit a written response by April 6, 2026, at 2:00:00 p.m. AKST. Responses must include information about the organization, its existing capability and competence, and its ability to meet the desired result of this Request for Information.
• The State is seeking information on the types of programs currently available in the market, as well as the general cost associated with those programs.
• The State is looking for a product that can provide a guaranteed monthly benefit for the duration of the retiree's lifetime.
• The State has approximately 62,000 active participants in the PERS plan and 24,000 active participants in the TRS plan.
• The State is requesting information on the service components of the program, including member concierge services, annuity counseling services, and other services.