NJ Secure Choice Seeks Program Administrator

The New Jersey Secure Choice Savings Program Board, the entity that runs New Jersey Secure Choice—the state-run savings program that provides retirement plan coverage to private-sector employees in New Jersey whose employers do not offer one—is seeking a program administrator. 

The board has issued a request for quotes (RFQ) for the position; submissions are due by 5:00 pm EDT on July 31, 2023. The administrator’s duties would include:

• recordkeeping;
• trust services;
• contributions processing;
• investment transaction processing;
• distribution processing; beneficiary tracking;
• participant service, including: 
  • call centers;
  • web portals;
  • reporting; and 
  • statements; and 
• employer support, including: 
  • call centers;
  • web portals; and 
  • reporting.

A bidder is to describe its approach and plans for accomplishing the work, set forth its understanding of the requirements of the RFQ, and its approach to successfully complete the contract. It also is to set forth its overall technical approach and its plans to meet the requirements of the RFQ in a narrative format. 

A bidder is to provide the following plans and information with its submitted quote: 

• implementation plan;
• roles and responsibilities matrix;
• communication strategy for employers and employees participating in the program;
• risk mitigation strategy to avoid program disruption and ensure continuity of the contract work;
• training plan for program staff;
• access control plan to ensure system access for program staff; and
• strategy.

The board says that a bidder also should submit a Disclosure of Investigations and Other Actions Involving Bidder Form with its quote, in order to provide a detailed description of any investigation or litigation—including administrative complaints or other administrative proceedings—involving any public sector clients during the past five years.

The contractor selected is to establish, maintain, and comply with a privacy policy that is consistent with all applicable state, federal and industry requirements. It also will be required to ensure its privacy policy complies with applicable federal or state laws or regulations.

About New Jersey Secure Choice 

Gov. Phil Murphy (D) on March 28, 2019 signed into law the New Jersey Secure Choice Act, the measure creating the New Jersey Secure Choice Savings Program and which was to be implemented two years after the enactment date, March 28, 2021. Later, the date of implementation was delayed by one year, but the Board said that while it was aiming to implement the program by then, it “should not, and does not intend to, cut corners in providing such a new and robust program for the citizens of New Jersey.” 

Currently, the program is not yet operational.