Brownsville Public Utilities Board (BPUB) is seeking proposals for 457(b) Deferred Compensation Plan Recordkeeping and Administration Services. The proposal due date is August 12, 2026. Key requirements include daily valuation recordkeeping, Secure 2. 0 Act compliance, a modern digital platform with multilingual support, a dedicated call center, and comprehensive participant education. The contract term is three years with two one-year renewal options. BPUB reserves the right to reject any or all proposals.
Proposals are due by August 12, 2026, at 5:00 PM. electronic or sealed proposals received after this time will not be considered.
The BPUB prefers zero direct employer cost, with all fees paid from participant accounts. Successful vendors will be required to receive payments via ACH direct deposit.
The core recordkeeping contract will be awarded based on Part I scores, considering total value and service quality. cost alone is not the determining factor total value and service quality are considered.
Firms must have a minimum of ten years of direct experience providing recordkeeping and administration services for governmental 457(b) deferred compensation plans, preferably for Texas public entities or municipally owned utilities of comparable size.
The Service Level Agreement (SLA) may include financial remedies or fee credits for failure to meet committed standards, though specific penalties are not detailed in the provided text.
The RFP does not explicitly mention a mandatory site visit for proposal submission, but it does require a minimum of four onsite visits annually in Brownsville, Texas, for group education sessions and individual participant consultations.
Proposals that do not meet minimum qualification requirements, fail to address any Part I component, or engage in unauthorized communications may result in disqualification.