This is a Request for Proposals (RFP) from Needham Public Schools, acting as the lead district for a collective purchasing group, seeking qualified independent third-party administrators (TPA) to assist school districts with the implementation and operation of their 403b compliance programs. The contract period is for three years, from January 1, 2027, through December 31, 2029. RFP packages are available from April 10, 2026, at 9:00 am. Proposals are due by May 11, 2026, at 10:00 am and will be opened at that time. Late proposals will not be accepted. The town reserves the right to reject any or all proposals. Bids will be awarded by the Needham School Committee. Questions must be submitted in writing by April 24, 2026, at 12:00 pm. No pre-bid meeting is scheduled. Bidders are responsible for checking the town's website for any addenda. No bonds are required.
The proposals are due no later than 10:00 am on May 11, 2026, at the office of the Assistant Superintendent for Finance and Operations, **** Highland Avenue, Needham, MA ****. The bid notice states, Proposals are returnable to the office of the Assistant Superintendent for Finance and Operations, **** Highland Avenue, Needham, MA **** no later than 10:00 am, May 11, 2026.
The bid notice does not explicitly state the payment terms for the awarded contract. However, Appendix A (Master Agreement) mentions that Each school district shall pay the prices specified in the contractor's price proposal for items and/or services furnished and delivered in carrying out this agreement. and The lead district and each school district shall make payment within thirty 30 days after its receipt of an invoice.
The bid will be awarded by the Needham School Committee, acting through the Superintendent, to the responsive and responsible bidder offering the most advantageous proposal. The evaluation will consider factors beyond price, including the quality of the overall proposal, the quality of the proposed plan of service, bidder experience, participant capacity, qualifications and experience of key personnel, communication protocols, vendor software and infrastructure, and the quality of references.
To be considered qualified, bidders must have a minimum of five years of continuous experience in the 403b tax sheltered marketplace as of April 10, 2026. They must also have a minimum of fifty 403b or related tax sheltered account plans, or a total of at least ten thousand 10,000 participants with active salary reduction agreements. Key individuals assigned to the program must have at least three years of experience servicing 403b or related tax sheltered accounts. Additionally, bidders must submit at least five current references from clients for whom they have provided administration services for at least five years.
The bid notice mentions that In case of default by the TPA, the declaration of which shall be at the sole discretion of the lead district, the lead district and the member districts of the collective purchasing group may procure the services from other sources and the defaulting TPA shall be liable for any and all costs in excess of the contract price occasioned by or resulting from such default.
The bid notice states, No prebid is scheduled.
The bid notice does not mention any requirement for sample submission.
The bid notice does not specify a deadline for challenging the bid or its terms.
