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Colleen C. Davis
State Treasurer


Requests for Proposals



There are three open requests for proposal from the Office of the State Treasurer at this time:

TRE-CPM-21101 – RECORDKEEPING AND ADMINISTRATION SERVICES

The Office of the State Treasurer (“OST”), on behalf of the Plans Management Board (“Board”), is seeking proposals from qualified vendors (“Vendors”) to provide recordkeeping and administrative services for the three plans (collectively, the “Plans”) within the State’s
Deferred Compensation Program authorized under Chapter 60A of Title 29 of the Delaware Code (the “DC Program”) and applicable provisions of the Internal Revenue Code (“IRC”) . This request for proposals (“RFP”) is issued pursuant to 29 Del. C. §§ 6981 and 6982(b).

VENDOR ELIGIBILITY: Vendor submissions will not be considered unless the Vendor clearly demonstrates in the proposal howthe Vendor meets the following minimum eligibility requirements for this RFP:

  1. The Vendor should have provided recordkeeping, administration and communication/education services for defined contribution plans under IRC §§ 457, 401 and 403.
  2. The Vendor must have a minimum $20 billion in defined contribution assets under administration.
  3. The Vendor must have a minimum of 500,000 participant plan accounts on their defined contribution plan recordkeeping system.
  4. The Vendor must be providing services for at least 10 defined contribution plans that each have 10,000 or more participants.
  5. The Vendor must be providing services for at least 10 defined contribution plans that each have assets in excess of $250 million.
  6. The Vendor must currently administer and provide recordkeeping for at least three active defined contribution plans for governmental entities and have done so for at least five years.
  7. The Vendor must be able to coordinate information with, and aggregate participant data from, the 403(b) Plan legacy providers.
  8. The Vendor must be a provider of the requested services.
  9. The Vendor must acknowledge they do not have a material conflict of interest with OST, the Board or the State, or the Board’s consultant, CAPTRUST.
  10. The Vendor must be able to comply with all Delaware Department of Technology and information security requirements for securing participants account information and handling of contribution and eligibility feeds from various payroll systems, including PeopleSoft and ADP.

The tentative timetable for this RFP process is as follows:

  • RFP Published July 26, 2021
  • Deadline for Vendor Questions August 2, 2021
  • Deadline for State Responses – Q&A Closed & Published August 13, 2021
  • Deadline for Vendor Proposal Submission August 20, 2021
  • Date for Invitation August 2021
  • Finalist Presentations (Virtual) September/October 2021
  • Finalist Selected September 2021
  • Estimated Award Notification (Board Approval) September 2021
  • Contract Negotiation and Execution December 2021
  • Implementation (if needed) TBD 2022

There will be no pre-bid meeting associated with this RFP.

This RFP is not an offer. The State reserves the right to cancel this RFP or modify the above RFP dates at any time, and for any reason.

TRE21103 – INVESTMENT CUSTODY SERVICES

The Office of the State Treasurer (“OST”), on behalf of the Cash Management Policy Board (the “Board,” and together with OST, the “State”), issues this request for proposals (the “RFP”) seeking investment custody services for State funds subject to Board oversight. The selected firm will serve in a fiduciary capacity. The RFP is issued pursuant to 29 Del. C. §§ 6981, 6982 and 6986.

VENDOR ELIGIBILITY: Any prospective vendor (“Vendor”) that does not meet the following criteria will not qualify for this RFP process:

  1. At least $1 billion in total market capitalization.
  2. At least $500 billion in total tax-exempt assets under trust/custody.
  3. At least $250 billion in corporate and public funds under custody.
  4. Financial institutions with both a branch network and employees in Delaware are
    exempt from the above market capitalization and assets under management criteria.
  5. Minimum of 10 years of experience in providing trust/custody services for institutional investors.

The tentative timetable for this RFP process is as follows:

  • RFP Published April 9, 2021
  • Deadline for Vendor Questions April 23, 2021
  • Deadline for State Responses – Q&A Closed & Published April 30, 2021
  • Deadline for Vendor Proposal Submission May 21, 2021
  • Finalist Presentations (Virtual) June 21 – June 30, 2021
  • Estimated Board Approval August 25, 2021
  • Contract Negotiation and Execution Month of September 2021
  • Award Notification By September 30, 2021
  • Implementation To be completed by December 01, 2021

There will be no pre-bid meeting associated with this RFP.

This RFP is not an offer. The State reserves the right to cancel this RFP or modify the above RFP dates at any time, and for any reason.

 

TRE-CPM-20102- PROGRAM MANAGER AND ADMINISTRATION SERVICES

The Office of the State Treasurer (“OST”), on behalf of itself and the Plans Management Board (“Board”), are seeking proposals from qualified program managers (“Vendors”) to provide recordkeeping, investment management and administrative services for the State’s college investment plan under Section 529 of the Internal Revenue Code(“529 Plan”). This RFP is issued pursuant to 29 Del. C. §§ 6981, 6982(b) and 6986.

Tentative RFP Timeline

  • RFP Published – December 7, 2020
  • Deadline for Vendors Questions – December 18, 2020
  • Deadline for State Responses – Q&A Closed and Published – January 8, 2021
  • Deadline for Vendors Proposal Submission – January 22, 2021(4:00 PM Eastern Time)
  • Date for Invitation – January 29, 2021
  • Finalist Presentations – February 2021
  • Finalist Selected – February 2021
  • Estimated Award Notifications (Board Approval) – March 2021
  • Complete Contract Negotiations – April 2021

There will be no pre-bid meeting associated with this RFP.

This RFP is not an offer. The State reserves the right to cancel this RFP or modify the above RFP dates at any time, and for any reason.

 

There is one RFP in process:

RFP_TRE19202-LOCALBANKS

RFP Timeline

  • RFP published • March 8, 2019
  • Notice of Intent to Respond due • March 15, 2019
  • Deadline for Vendor questions • March 15, 2019
  • Deadline for State responses – Q&A closed & Published • March 22, 2019
  • Deadline for Vendor proposal submission • April 2, 2019
  • Finalist presentations • Week of April 29, 2019
  • Finalist Selected / Begin Contract Negotiations • August 28, 2019
  • Complete Contract Negotiations • To be determined
  • Estimated Award Notification (Board Approval) • To be determined
  • Implementation Schedule • To be determined

Visit the State’s Bid Solicitation Directory to learn more about open and awarded solicitations.


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