The government authority in Alaska is seeking a vendor to provide third-party administrator services for its 403(b) and 457(b) retirement plans. Responsibilities include comprehensive plan administration, ensuring full compliance with all federal and state regulations, and the ongoing review, updating, and amendment of plan documents. The selected provider will be responsible for maintaining and overseeing vendor compliance with all plan provisions.

Duties also involve accurate and timely processing and allocation of employee contributions, as well as the development and delivery of educational workshops, webinars, and materials to enhance employee understanding of their retirement plan options. One-on-one consultations must be available for plan participants to address individual questions and retirement planning needs, while coordination with plan vendors is required to ensure seamless operations.

The administrator will conduct annual compliance reviews and non-discrimination testing, and should provide a user-friendly online platform for both participants and administrators if possible. Strict adherence to data security and applicable privacy laws must be maintained throughout all services provided.