403(b) Plan Advisory and Retirement Plan Consulting Services

The agency is seeking 403(b) plan advisory and retirement plan consulting services. The project aims to address the need for expert guidance in managing and optimizing the agency's 403(b) retirement plans. This includes ensuring compliance, evaluating investment options, and providing recommendations for plan improvement. The scope of work covers performing 403(b) plan advisory services, which may include facilitating and documenting committee meetings quarterly, biannually, or annually. Services also encompass providing compliance updates, investment policy and fund monitoring, evaluation, and recommendations for investment option offerings. A key requirement is to evaluate current approved 403(b) plan recordkeepers and investment options against benchmarks and the University's investment policy statement. The agency also requests a proposed timeline and task list for advisory services and the creation and review of a streamlined or tiered investment menu. Eligibility rules require vendors to be an onshore (USA Organization Only) entity. Vendors must also be a legal entity authorized to transact business in Illinois prior to contract execution. Additionally, vendors must be registered with the Illinois State Board of Elections and hold a current Illinois Department of Human Rights (IDHR) Bidder Eligibility Number. Vendors who are not registered in the Illinois Procurement Gateway (IPG) and do not have an active IPG Number must complete and submit FORM A - Vendor Disclosures. Vendors with an active, unexpired IPG Number must complete and submit FORM B - IPG Active Registered Vendor Disclosures. Evaluation criteria are not explicitly detailed in the provided text. However, the agency is seeking proposals from responsible vendors. Budget signals are not provided, as the agency is looking for proposals. Key dates include a proposal submission deadline of September 10, 2026, at 2:00 PM Central Time. The contract period will be for one year.