Description
The Needham Public School District is seeking a qualified, independent Third-Party Administrator (TPA) to assist interested school districts within the Collective Purchasing Group with the implementation and operation of each school district's 403(b) and related programs. The TPA will act as the Third-Party Administrator for each program. The contract will be for a three-year period, from January 1, 2027, to December 31, 2029. The TPA will be responsible for providing services such as plan administration, compliance, and communication with participants. The proposal should include a non-price (technical) proposal and a price proposal. The evaluation criteria will include the quality of the overall proposal, the quality of the proposed plan of service, bidder experience, and the qualifications and experience of key personnel.
• The TPA will be responsible for providing services to multiple school districts within the Collective Purchasing Group.
• The contract will be for a three-year period, with the option for districts to renew or terminate their participation.
• The TPA will be required to provide professional malpractice or Errors and Omissions liability insurance with minimum limits of $1,000,000 per occurrence and $2,000,000 aggregate.
• The TPA will be required to comply with all applicable federal, state, and local laws and regulations, including those related to tax compliance, employment, and labor relations.
• The TPA will be required to provide access to records to the School District and to comply with the School District's confidentiality and data protection policies.