MB-7202 - USA (Massachusetts) - Independent Third-Party Administration of Compliance Program - Deadline April 24,2023

Product (RFP/RFQ/RFI/Solicitation/Tender/Bid Etc.) ID: MB-7202

Government Authority located in Massachusetts; USA based organization looking for expert vendor for independent third-party administration of compliance program.

[*] Budget: Looking for Proposals

[*] Scope of Service:

(1) Vendor needs to provide independent third-party administration of compliance program.
- Independent third-party administrator involves seven general areas of service or functions for 403(b) and similar pre-tax salary contribution or deferral programs:
- Authorizations, monitoring, tracking, disbursing, communicating, customer service and auditing.
- Perform the necessary administrative and compliance duties, responsibilities and activities that will be shifted to your organization as the agency third-party administration from agency.
- Maintain compliance of all agreements, forms, documents and procedures.
- Provide assistance and represent the member agency in the event of a federal or state audit.
- Employer Account Administration:
- Provide common remitting services for 403(b) contributions, promptly remitting all funds to participating vendors.
- Provide activity to ensure contributions are distributed to employee accounts in a timely manner when received.
- Monitor and authorize contract exchanges among 403(b) service providers, if permitted by the plan.
- Monitor and authorize rollovers into the 403(b) plan.
- Conduct internal audits for federal or state legal compliance for all post- employments plan contributions.
- General administrative services:
- Provide an administrative procedure manual to be used by the participating member agency to administer the program.
(2) All questions must be submitted no later than April 3, 2023.
(3) The contract period will be for three years.

[*] Eligibility:

- Onshore (USA Organization Only);

[*] Work Performance:

Performance of the work will be Offsite. Vendor needs to carry work in their office location.

Expiry Date : Monday, 24 April, 2023

Question Answer Deadline : Monday, 3 April, 2023

Category : Medical Billing and Coding

Country : USA

State : Massachusetts

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