Retirement Plan Recordkeeping and Administration Services

The Santa Cruz Metropolitan Transit District in Santa Cruz, California, is seeking a qualified vendor to provide comprehensive retirement plan recordkeeping and administration services. The agency needs to transition its retirement plan from the prior recordkeeper, requiring data mapping, historical data import, reconciliation, and ongoing administration. This initiative aims to streamline plan operations, ensure regulatory compliance, and provide robust support to both the plan sponsor and plan participants. The scope of work covers plan implementation, onboarding, and transition planning to coordinate conversion activities. The selected provider must handle participant recordkeeping, track eligibility, process new enrollments, and manage payroll contributions across multiple frequencies. Additionally, the agency requires daily plan- and participant-level accounting, trade execution, compliance testing, legislative updates, and fiduciary training. The requested services also include a secure participant website, a dedicated call center, and a customized communication and financial wellness strategy utilizing multi-channel distribution methods like text and email. For the agency itself, the provider must deliver a secure plan sponsor portal featuring current and historical reporting to streamline administrative tasks. Eligible bidders must be onshore organizations based in the United States. The performance of the contracted work will take place onsite in Santa Cruz, California. Bidders must submit their proposals digitally via email or through the designated online portal, and the agency is currently looking for proposals to determine the budget. All clarifying questions regarding this opportunity must be submitted no later than June 5, 2026. The agency will evaluate proposals based on the bidder's ability to meet the comprehensive recordkeeping, administration, and transition requirements outlined in the request.