Retirement Plan Service

The Jacksonville Transportation Authority in Jacksonville, Florida is seeking a qualified and experienced custodian to assist with the administration of its retirement plans. The selected provider must work with the agency's retirement plan Working Group and its third-party advisor to ensure that the plans are administered in an effective, responsible, and professional manner, consistent with industry best practices. The agency requires a partner to manage deferral elections on a third-party website, including age-based and special catch-up contributions, as well as beneficiary recordkeeping, beneficiary confirmation, and death benefit claim processing. The scope of work covers the investment of contributions, the monitoring of all deferral limits with warning messages when limits are approached, and the investment transfer of existing assets. The chosen provider must also handle tax withholding and reporting of distributions, and deliver educational services to both participants and the plan sponsor. Performance of all requested work will take place offsite. Eligible bidders must be located onshore within the United States. The agency is establishing a contract period that will run for five years. For the budget, the agency is looking for proposals to determine the cost of these services, and no specific evaluation criteria or key dates are provided in the solicitation details.