Recordkeeping, Administration, and Investment Options for the State of Tennessee's Optional Retirement Program and Public Higher Education 403(b) Plans

The State of Tennessee Treasury Department is seeking two qualified providers to deliver comprehensive record‑keeping, plan administration, participant communication, and investment‑platform services for its Optional Retirement Program (ORP) and the public‑higher‑education 403(b) plans (University of Tennessee and Tennessee Board of Regents). The contract runs for 60 months, with a performance‑risk component, and all fees are participant‑sourced. • Deliver end‑to‑end record‑keeping, payroll file processing, balance maintenance, and transaction reconciliation for ORP and 403(b) plans. • Provide participant self‑service web/ mobile portals, call‑center support, field‑representative education, and retirement‑income projection tools. • Offer managed‑account (fiduciary) advisory services, a self‑directed brokerage window, and the Tennessee Treasury Managed Fund (TMF) with daily valuation and reporting. • Meet stringent security, privacy, and insurance requirements (SOC 1/2, cyber‑liability, NIST 800‑53, data‑residency in the U.S.).