About this opportunity
AI summaryThe Township of Piscataway is seeking fair and open proposals from qualified USA-based service providers to deliver Section 457(b) deferred compensation plan services. The scope of work involves offsite administration, recordkeeping, investment, participant education, and financial guidance for the Township's plan. Specific duties include maintaining account histories, processing employee contributions and payroll reconciliations, monitoring contribution limits, administering pre-tax and Roth contributions, managing distributions, and assisting with federal and State compliance requirements. All questions must be submitted no later than November 10, 2026. Sealed proposals must be delivered to the Township Purchasing Agent by November 19, 2026, at 2:00 p.m. prevailing time. Applicants must include a completed Proposal Form schedule, proof of a valid New Jersey Business Registration, a Consent of Surety, and a ten percent bid guaranty up to $20,000 using the official Township Bid Bond Form.
Buyer and opportunity details
- Client
- Township of Piscataway
Scope of work
- Comprehensive administration and recordkeeping services
- Maintenance of individual participant accounts and transaction histories
- Processing and reconciliation of employee contributions
- Administration of Traditional pre-tax and Roth 457(b) contributions
- Processing of rollovers, distributions, and required minimum distributions
- Participant education, financial guidance, and direct support
- Administration of participant loan program
- Plan sponsor reporting and compliance assistance
How proposals are evaluated
| Criterion | Weight / scoring |
|---|---|
| Quality, diversity, performance, and cost of proposed investment options | Not specified |
| Experience administering governmental Section 457(b) plans | Not specified |
| Experience and accessibility of the proposed service team | Not specified |
Minimum qualifications
- Authorized and eligible to provide deferred compensation plan services to New Jersey local governmental entities
- Offer a deferred compensation plan and service agreement approved by DLGS
- Compliance with N.J.S.A. 52:32-44 New Jersey Business Registration requirements
Documents to include with your response
- Completed and Signed Proposal Form
- Technical Proposal addressing Scope of Services and Proposal Requirements
- Completed Proposal Fee and Investment Schedule
- Documentation demonstrating current DLGS approval and eligibility
- Checklist of Required Documents
- Bid Bond or Certified Check (10% up to $20,000)
- Certificate of Surety (Consent of Surety)
- Non-Collusion Affidavit
- EEO/Affirmative Action Certification
- W-9 Form and Disclosure of Ownership / Stockholder Disclosure Certification
Key dates
- Questions due
- November 10, 2026 @ 12:00 NOON
- Proposals due
- November 19, 2026 @ 2:00 PM
How to submit
- Method
- Manual sealed hard copy submission
- Instructions
- Deliver one original marked ORIGINAL signed in blue ink and one copy marked TRUE COPY in a sealed package to Township Purchasing office, 455 Hoes Lane, Piscataway, NJ 08854.
Contract details
- Estimated value
- Based upon approximately $37 million in Plan assets and 310 participant accounts
- Place of performance
- Piscataway, NJ
- Insurance and bonding
- General and Umbrella Liability Insurance with limits of a minimum of $3,000,000.00 for each claim and $3,000,000.00 aggregate; Workers Compensation as required by State of New Jersey. Township must be named additional insured.
- Funding
- N.J.S.A. 43:15B, N.J.A.C. 5:37 et seq., and New Jersey DLGS requirements