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DMS-2425-199, (SUSORP and SMSOAP)

ID: ITN-12499 • State: Florida
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Description

Please review the Invitation to Negotiate (ITN) and all attachments in their entirety to ensure you respond pursuant to the requirements of the ITN instructions. The State of Florida, Department of Management Services (Department or DMS), Division of Retirement (Division), is issuing this solicitation to establish contract(s) for retirement programs as described in the solicitation documents uploaded to this advertisement. This solicitation will be administered through the Business Network within MyFloridaMarketPlace (MFMP) and the Vendor Information Portal (VIP). Vendors interested in submitting a Reply must register for a Business Network account and comply with all solicitation terms and conditions. Replies to this solicitation must be submitted in the MyFloridaMarketPlace Sourcing Event via the SAP Business Network. Refer to section 3.5 How to Submit a Reply of the solicitation document for further instructions. This solicitation and all addenda will be posted on the Vendor Information Portal (VIP). Vendors that respond to this solicitation are responsible for monitoring the VIP throughout the procurement for information regarding decisions and other matters relating to this procurement. Failure to file a protest within the time prescribed in section 120.57(3), Florida Statutes, or failure to post the bond or other security required by law within the time allowed for filing a bond shall constitute a waiver of proceedings under chapter 120, Florida Statutes. Any protest concerning this agency decision or intended decision must be timely filed with the Agency Clerk. Protests may be filed by courier, hand delivery, or regular mail at: Department of Management Services, Office of the General Counsel, Attention: Agency Clerk, 4050 Esplanade Way, Suite 160, Tallahassee, Florida 32399-0950. Protests may also be filed by fax at 850-922-6312, or by email at agencyclerk@dms.fl.gov. It is the filing party's responsibility to meet all filing deadlines.
Background
The State of Florida, Department of Management Services (DMS), Division of Retirement is issuing this solicitation to establish contracts for retirement programs, specifically the State University System Optional Retirement Program (SUSORP) and the Senior Management Service Optional Annuity Program (SMSOAP).

The SUSORP serves approximately 18,000 members employed by Florida's twelve state universities, while the SMSOAP caters to five active senior managers and around 90 inactive managers. The goal is to provide quality, cost-effective administration and services for these retirement programs.

Work Details
The services sought through this ITN include:
1. Defined contribution recordkeeping and administrative services, including beneficiary information maintenance.
2. Member self-service systems via telephone and internet.
3. Creation and maintenance of member data, transaction data, and necessary files for updating retirement systems.
4. Check writing, federal and state tax withholding, and form preparation.
5. Integrated education and communication services for members regarding their benefits and asset allocation, including on-site support for employers.
6. Investment management of SUSORP and SMSOAP assets via annuity investments or mutual funds.
7. Security for state data and confidential information.

Period of Performance
The contract term will be defined in Exhibit 5 – Draft Contract.

Place of Performance
Services will be performed in accordance with the requirements set forth in the solicitation documents; specific locations may vary based on service delivery needs.

Bidder Requirements
Vendors must register in the MyFloridaMarketPlace (MFMP) Business Network to submit a reply. They must comply with all solicitation terms, including providing a performance bond or irrevocable letter of credit if awarded.
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Overview

Agency
Department of Management Services (DMS) Logo Florida Department of Management Services (DMS) [FL]
Opportunity Type
Invitation to Negotiate
Opportunity ID
ITN-12499
Version
2
Response Start Date
April 30, 2025
Response Deadline
June 16, 2025 Past Due
Date Posted
April 30, 2025
Last Updated
April 30, 2025
Est. Value Range
Experimental
$50,000,000 - $150,000,000 (AI estimate)
Agency Distribution
High
Source
Open
On 4/30/25 Department of Management Services (DMS) in Florida issued Invitation to Negotiate Retirement Programs Solicitation with ID ITN-12499 due 6/16/25.

Contacts

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Documents

Posted documents for DMS-2425-199, (SUSORP and SMSOAP)

Classifications

NAICS
561110 - Office Administrative Services
UNSPSC
84121800 - 84121800: Securities and commodities markets services

Additional Details

Agency Advertisement Number
DMS-24/25-199
Minority Encouraged
false

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