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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Ann Green-Barton, Chief People Officer |
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PRESENTER(S): |
Ann Green-Barton, Chief People Officer JD Tazoi, Director of Total Rewards |
TITLE:
Atitle
Contract: UTA Retirement Plan Pension Payroll and Tax Services (Nottingham Trust)
end
AGENDA ITEM TYPE:
Procurement Contract/Change Order
RECOMMENDATION:
Approve and authorize the Executive Director to execute the contract and associated disbursements with Nottingham Trust for three year and four-month (40 total months) and two (2) option years for a total contract period extending from September 1, 2025 - December 31, 2030, in the not-to-exceed amount of $468,600.
BACKGROUND:
UTA outsourced pension administration functions beginning in 2018, including payroll and tax services. The UTA Pension Committee conducted an RFP in early 2025 for a vendor to provide payroll and tax services for UTA’s retirement plan. As a result of this process, the Pension Committee selected Nottingham Trust as the vendor to provide these services beginning September 1, 2025. This result is a change from the current vendor providing these services and will require a transition/implementation period from the current vendor to Nottingham Trust.
DISCUSSION:
This contract provides payroll and tax services for UTA’s retirement plan through Nottingham Trust.
The contract is for an initial forty (40) months from September 2025 through December 2028, with the option to extend the base term for up to two additional one-year periods for a total contract period of five years and 4 months.
CONTRACT SUMMARY:
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Contractor Name: |
Nottingham Trust |
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Contract Number: |
25-03941 |
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Base Contract Effective Dates: |
Base: September 1, 2025 - December 31, 2028 Option Years: January 1, 2029 - December 31, 2030 |
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Extended Contract Dates: |
N/A |
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Existing Contract Value: |
N/A |
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Amendment Amount: |
N/A |
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New/Total Contract Value: |
$468,600 (Includes Base and Option Years) |
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Procurement Method: |
RFP |
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Budget Authority: |
Included in retirement plan fund |
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ALTERNATIVES:
Complete payroll and tax services work in-house, which could affect the retirement plan’s investment opportunities.
FISCAL IMPACT:
These costs are included in the retirement plan fund.
• 2025 Budget Total: $42,600
• 2026 Budget Total: $85,200
• 2027 Budget Total: $85,200
• 2028 Budget Total: $85,200
• 2029 Budget Total: $85,200
• 2030 Budget Total: $85,200
Base Term (September 2025 - December 2028): $298,200
Option Year 1 (January 2029 - December 2029): $85,200
Option Year 2 (January 2030 - December 2030): $85,200
Contract Not-To-Exceed Total- $468,600
ATTACHMENTS:
• Contract: UTA Retirement Plan Pension Payroll and Tax Services (Nottingham Trust)