Description
The State of Tennessee Treasury Department is seeking two qualified contractors to provide end‑to‑end record‑keeping, plan administration, participant communication, and investment‑option services for its Optional Retirement Program (ORP) and the University of Tennessee and Tennessee Board of Regents 403(b) plans. The work includes processing payroll contributions, maintaining participant accounts, converting legacy data, offering a secure online self‑service portal, operating a toll‑free call center, delivering investment‑advisory and managed‑account options, and complying with extensive reporting, security, and regulatory requirements. The contract is a 60‑month award (Dec 1 2026 – Nov 30 2031) with a performance‑risk component (≥ 10 % of annual fees at risk) and requires the contractor to meet strict insurance, cyber‑security, and data‑residency standards.
• Provide full‑service DC plan record‑keeping and administration for ORP (≈ $5.2 B assets) and two 403(b) plans (≈ $1 B assets).
• Deliver participant education, field‑representative services, and a multi‑platform self‑service portal (web & mobile).
• Offer managed‑account advisory services, SDBA options, and the Tennessee Treasury Managed Fund, with daily valuation and reporting per Attachment 6.12.
• Meet technical requirements: SOC 1/2 audits, cyber‑liability insurance, ISO‑27001/ NIST controls, and integration with Oracle and Banner payroll systems.