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 agency requires a partner to work alongside its retirement plan Working Group and its third-party advisor to ensure professional, responsible, and effective plan administration consistent with industry best practices. The selected provider will solve the agency's need for comprehensive administrative oversight, participant education, and compliant financial processing. The scope of work covers deferral election management on a third-party website, including age-based and special catch-up contributions, as well as beneficiary recordkeeping, confirmation, and death benefit claim processing. The provider must manage the investment of contributions, execute investment transfers of existing assets, and handle tax withholding and reporting of distributions. Additionally, the agency requires the monitoring of all deferral limits with automated warning messages when limits are approached, alongside educational services for both participants and the plan sponsor. Eligible bidders must perform all work offsite and must be located onshore within the United States. The agency is establishing a contract period of five years for these services. The agency has not disclosed a specific budget and is looking for proposals to determine the cost.