Pension Management Software
ID: RFP- 26 - 194 • State: Florida
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Description
Background
The City of St. Petersburg is seeking proposals from qualified vendors to provide a Pension Administration and Management system with a fully SaaS Cloud-based solution to replace a legacy system.
The goal of this contract is to deliver comprehensive, end-to-end pension administration capabilities designed to ensure accurate processing, regulatory compliance, and a high-quality experience for members, retirees, beneficiaries, and plan sponsors.
Work Details
The contract involves providing a Pension Management Software that includes the following core functional areas:
- Activity Processing and Tracking
- Member Maintenance
- Eligibility and Enrollment
- Benefit Estimates and Calculation
- Active Death Benefit Calculation and Processing
- Retiree Death Processing
- Termination Processing
- Retirement Processing
- Disability Application Processing
- Refund of Contributions
- Beneficiary Maintenance
- Employee Contribution Processing
- Communications Management
- Document Management
- Monthly Pension Payroll Processing and Disbursement
- Tax Reporting
- Third party Deferred Retirement Option Plan (DROP) Administration
- Member Self-Service
- Data and Reporting.
The software must have capabilities such as importing data from the City's HRMS system each pay period; creating records for first-time hires; closing pensioner accounts upon death notification; tracking employee events; generating benefit estimates; processing refunds; managing beneficiary designations; producing required federal tax forms (1099-R); providing web-based member portal access; and ensuring compliance with various legal requirements.
Period of Performance
The initial term of the agreement will commence upon contract execution and will continue for a period of three (3) years. The City reserves the right to renew this agreement under the same terms and conditions for two (2) one (1) year periods at the end of the initial term.
Place of Performance
The services will be performed in St. Petersburg, Florida.
Bidder Requirements
Vendors must demonstrate experience implementing pension management software for state and/or local government agencies of similar size and complexity to the City of St. Petersburg. They must also have the ability to obtain minimum insurance requirements set forth in the agreement. Additionally, vendors must be registered with the Florida Department of State and comply with all applicable laws.
The City of St. Petersburg is seeking proposals from qualified vendors to provide a Pension Administration and Management system with a fully SaaS Cloud-based solution to replace a legacy system.
The goal of this contract is to deliver comprehensive, end-to-end pension administration capabilities designed to ensure accurate processing, regulatory compliance, and a high-quality experience for members, retirees, beneficiaries, and plan sponsors.
Work Details
The contract involves providing a Pension Management Software that includes the following core functional areas:
- Activity Processing and Tracking
- Member Maintenance
- Eligibility and Enrollment
- Benefit Estimates and Calculation
- Active Death Benefit Calculation and Processing
- Retiree Death Processing
- Termination Processing
- Retirement Processing
- Disability Application Processing
- Refund of Contributions
- Beneficiary Maintenance
- Employee Contribution Processing
- Communications Management
- Document Management
- Monthly Pension Payroll Processing and Disbursement
- Tax Reporting
- Third party Deferred Retirement Option Plan (DROP) Administration
- Member Self-Service
- Data and Reporting.
The software must have capabilities such as importing data from the City's HRMS system each pay period; creating records for first-time hires; closing pensioner accounts upon death notification; tracking employee events; generating benefit estimates; processing refunds; managing beneficiary designations; producing required federal tax forms (1099-R); providing web-based member portal access; and ensuring compliance with various legal requirements.
Period of Performance
The initial term of the agreement will commence upon contract execution and will continue for a period of three (3) years. The City reserves the right to renew this agreement under the same terms and conditions for two (2) one (1) year periods at the end of the initial term.
Place of Performance
The services will be performed in St. Petersburg, Florida.
Bidder Requirements
Vendors must demonstrate experience implementing pension management software for state and/or local government agencies of similar size and complexity to the City of St. Petersburg. They must also have the ability to obtain minimum insurance requirements set forth in the agreement. Additionally, vendors must be registered with the Florida Department of State and comply with all applicable laws.
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Overview
Agency
Opportunity ID
RFP- 26 - 194
Response Deadline
May 26, 2026
Due in 13 Days
Date Posted
April 10, 2026
Est. Value Range
Experimental
$500,000 - $2,000,000
(AI estimate)
Agency Distribution
High
Source
Source Notes
Source does not have a linkable page for this opportunity. To find the opportunity, go to the Source website listed above and search for the Opportunity ID.
On 4/10/26 City of St. Petersburg in Florida issued Pension Management Software with ID RFP- 26 - 194 due 5/26/26.
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