457(B) and IRA Plans Administrator
Title:  

457(B) and IRA Plans Administrator

Agency:  

Howard County, Office of Procurement

State:  

Maryland

NAICS Code:  

524292

Industry:  

Financial Services

Solicitation Type:  

Request for Proposal

Solicitation ID:  

RFP 04-2026

Open Date:  

8/11/2025

Questions Due Date:  

8/25/2025

Close Date:  

9/10/2025

Project Duration:  

1 year

Last Updated:  

8/29/2025

Description:
The County is seeking a qualified firm to administer its 457(b) and Deemed IRA plans. The selected firm will be responsible for providing retirement plan services, including recordkeeping, investments, and participant education. The firm must have at least five years of experience in retirement plan administration and must be able to provide on-site education and support. The contract will be for one year with the option to renew for up to nine additional years. Key aspects of the job include: • Providing recordkeeping and investment services for the County's 457(b) and Deemed IRA plans • Offering participant education and support, including on-site meetings and webinars • Ensuring compliance with all applicable laws and regulations • Providing quarterly on-site education days at 4-5 locations • Managing assets of approximately $420 million • Providing investment options, including mutual funds and a capital preservation strategy
Attached Files:

Please visit the bid source via the “Link to Bid Source” button below for documentation.

Contact Information:

Jalene Duressa(Contract Analyst)

jduressa@howardcountymd.gov

(410) 313-0037

Budget Estimate (AI):

$30,000 – $75,000

The estimated annual contract value is between $30,000 and $75,000. However, considering the scope of work and the assets under management, the total contract value over the potential 10-year period could be significantly higher. Assuming an average annual contract value of $50,000, the total contract value would be approximately $500,000. Factors that may influence the likely payment range include the firm's experience, the level of service provided, and the investment options offered.

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