The Maryland State Treasurer’s Office is responsible for the deposit, investment, and disbursement of all funds into or out of the State Treasury. The purpose of this procurement is to select a financial institution to provide lockbox services associated with the receipt and deposit of payments made to the State of Maryland.
The Tennessee Department of Treasury (“State”) is seeking the services of a recruitment agency or recruitment specialist to provide the State’s Human Resources Division with consulting services to recruit executive level professionals for positions in the following divisions, including, but not limited to, Accounting and Information Systems. As of the date of this procurement, the State has approximately two hundred fifty (250) employees who provide services to the State in areas such as: the Tennessee Consolidated Retirement System (administration and investments); College Savings; Unclaimed Property; Cash Management; and Risk Management. These areas involve sophisticated accounting and information technology solutions that require highly qualified staff. In providing these services as it relates to Accounting and Information Systems, the State is seeking qualified candidates as job vacancies arise. The State anticipates that the Contractor resulting from this RFP will work together with the State to assess the State’s business needs and develop a strategy and methodology for successful recruitment. It is anticipated that the State could seek to hire up to five (5) professionals per year utilizing this service; this, however, is not a guarantee of the number of employees sought by the State pursuant to this Contract.
The Maryland State Treasurer’s Office (the “Office”), which is issuing this Invitation For Bids (“IFB”), is requesting bids for financing, under a tax-exempt lease-purchase financing arrangement (the “EPC Lease”), the acquisition by the Department of Health and Mental Hygiene (“DHMH”) Springfield Hospital Center and the Maryland Department of Transportation (“MDOT”) Motor Vehicle Administration (“MVA”) of the State of Maryland (the “Lessee” or the “State”) of certain energy systems or equipment under Energy Performance Contracts (“EPCs”). The successful bidder (the “Lessor”) will provide financing for up to $4,682,772 in equipment purchases and related facility energy improvements. The financing is expected to close December 22, 2016 (the “financing date”) as further described on Appendix A hereto. The purchases will be consolidated and the financing shall be provided as described in Section III of this IFB.
The Maryland State Treasurer (the Treasurer), on behalf of the Maryland State Retirement Agency (the Agency) and the Board of Trustees for the Maryland State Retirement and Pension System (the Board), is seeking proposals from qualified firms to provide global custody services. These services will include, but are not limited to, settlement, safekeeping, delivery, investment accounting and income collection, securities valuation, investment performance reporting, compliance reporting, short-term cash investments, and other services in connection with these investments. These services will not include the System’s securities lending program (the Securities Lending Program), which is handled separately and is currently managed by State Street Bank and Trust Company.
The successful Offeror shall provide global custody services for the following entities for which the Board provides administration, investment or management services (the System):
1.1.1. The several defined benefit retirement and pension systems comprising the Maryland State Retirement and Pension System (SRPS) under the State Personnel and Pensions Article (SPP) of the Annotated Code of Maryland (the Code);
1.1.2. The defined benefit retirement plans (the MTA Plans) administered by the Maryland Transit Administration (the MTA) with investment management assistance from the Board as provided under § 21-110(b) of SPP;
1.1.3. The Postretirement Health Benefits Trust Fund (the PHBT Fund) created under Title 34, Subtitle 1 of SPP, and
1.1.4. Any other fund, system or other entity managed or administered by the Board (the Other Funds).
One custodian will be selected as a result of this RFP. Pursuant to § 21-124 of the State Personnel and Pensions Article of the Annotated Code of Maryland (SPP), the Treasurer will appoint and contract with one firm to provide global custody services for both domestic and international assets managed by the Board as specified in this solicitation. The base term of this Contract for services will be for a three (3) year term with two (2) one-year renewal options. Exercise of the option(s) for extension will be solely at the discretion of the Treasurer or the Treasurer’s designee.
It is possible that none of the submitted proposals will be satisfactory to the System, in which case no selection will be made.
The Office of the Illinois State Treasurer (“Treasurer”) is issuing this Request for Proposals (“RFP”) for the benefit of the Treasurer and Illinois Department of Revenue (“IDOR”) for Electronic Funds Transfer (“EFT”) services, specifically the collection and processing of various tax payments. Financial institutions that submit Proposals (“Respondents”) shall submit their Proposals by 2:00 p.m. CT on December 22, 2016.
The Treasurer seeks a Contractor with an efficient and cost effective payment process. The winning Respondent (“Contractor”) must be authorized to do business in Illinois as an Illinois bank or a national bank with a presence in Illinois. In addition, the Contractor must be a member of the Federal Reserve System, have access to all services as a member bank, and qualify as a depository for public funds. At the time the Contractor submits its Proposal, or prior to that time, if required by law, the Contractor must have all required licenses, bonding, facilities, equipment and trained personnel necessary to perform the work specified in this RFP. Finally, the Contractor must have a minimum of five (5) years of experience performing the services being sought by this RFP.
The Contractor shall enter into a contract with the Treasurer (“Agreement”) for an initial term of four (4) years. Upon expiration of this term, the Treasurer may elect to extend the Agreement for a period of time agreed upon by the parties, not to exceed a total of ten (10) years, including the initial four (4) years.
On June 20, 2016, the Office of the Illinois State Treasurer (“Treasurer”) released a Request for Information (“RFI”) regarding the future structure and management of the Bright Start Advisor and Bright Directions advisor-sold 529 college savings programs. Responses to the RFI have assisted the Treasurer in its evaluation of the merits of continuing to offer two separately branded advisor plans. As a result of a comprehensive analysis conducted by the Treasurer and the Treasurer’s consultants, the Treasurer has decided to merge Bright Start Advisor and Bright Directions into a single advisor plan under the Bright Directions brand (hereinafter collectively referred to as “Bright Directions”).
The Treasurer is issuing this Request for Proposals (“RFP”) for record keepers, investment management firms, financial services firms with specific experience, or similar businesses to serve as the program manager for Bright Directions (“Contractor” or “Program Manager”). Bright Directions is administered by the Treasurer pursuant to Section 529 of the Internal Revenue Code of 1986, as amended (“Section 529” and the “Code”, respectively), and the Illinois State Treasurer’s Act (15 ILCS 505/16.5) (“Act”).
The Treasurer seeks a Program Manager that will service Bright Directions, with the overall goal of providing an advisor-sold plan that will be recognized as one of the best in the country based on the quality of the underlying funds, the breadth of investment options offered, and low fees. Currently, Bright Directions is one of only two “Silver-rated” advisor plans rated by Morningstar. The Treasurer intends on selecting a Program Manager with the expertise and ability to:
Facilitate the successful consolidation of Bright Start Advisor and Bright Directions;
Offer new and existing plan participants a wide variety of investment options capable of matching returns consistent with each participant’s risk tolerance and objectives; and
Provide exemplary customer communications and service.
The Treasurer intends to execute a program management agreement (“Agreement”) for an initial term that is expected to commence on July 20, 2017, and run for a period of 5 to 10 years.
Currently, the Illinois College Savings Pool (“Pool”) for which the Treasurer serves as Administrator and Trustee includes Bright Directions, Bright Start Direct, and Bright Start Advisor College Savings Plans, which are described in Section II below. On September 14, 2016, the Treasurer issued a program management RFP for Bright Start Direct (the “Direct Plan”). This RFP for Bright Directions should not be construed as a request for bids on the Direct Plan.
Service providers (“Respondents”) must submit their responses to this RFP (“Responses”) by 2:00 p.m. CT on December 9, 2016.
State treasurer elections were held on November 7th across the country.
Below you will find election results along with brief bios for those elected for the first time.
Check back to this page for updates as they become available.
Eric Schmitt is a lifelong, sixth-generation Missourian whose public service has been built on a record of championing economic growth, private sector job creation, taxpayer advocacy and fiscal responsibility.
Schmitt’s Missouri constituents have twice elected him to represent the state’s 15th Senate District as a Missouri Senator. As State Senator, Eric has been credited for his leadership as a next-generation conservative, bringing new energy and bold ideas to the forefront and seeking a new era of governance in which initiatives to create private sector jobs and restore fiscal responsibility replace the big government model that has prevented growth and prosperity for Missourians. Eric successfully passed legislation to eliminate the corporate franchise tax and authored two of the largest tax cuts in Missouri history. Eric’s reforms will reduce the personal income tax rate and allow all businesses to deduct 25% of their income. Eric’s roots in Missouri run deep, stretching through six generations of farmers, teachers and small business people who have lived and worked in the Missouri cities of Tipton, Pilot Grove, Louisiana and St. Louis. Growing up in a middle class household, Eric was the first person in his family to go to college right out of high school. He graduated cum laude from Truman State University in Kirksville, and while at Truman founded a Habitat for Humanity Chapter on campus. He earned a scholarship to attend law school at Saint Louis University where he received his Juris Doctorate becoming the first person in his family to graduate from law school.
Prior to his service in the State Senate, Schmitt served in local government as an Alderman for the city of Glendale. Eric’s son, Stephen was born with a rare genetic condition causing tumors on his organs. He also has epilepsy, is on the autism spectrum and is non-verbal. Eric’s son was his inspiration to run for office to be a voice for people like him. One of Eric’s early legislative victories was taking on insurance companies by leading a bipartisan effort to ensure Missouri families are covered when they need it the most – including therapies for autism. Schmitt lives in Glendale with his wife, Jaime, and their three children, Stephen, Sophia and Olivia. He has been an active member of community non-profits, including the Autism Society, Nurses for Newborns, Crisis Nursery and Habitat for Humanity.
Dale Folwell has achieved decades of experience as a highly successful investor and financial consultant. In addition, he has served as Assistant Secretary of Commerce, two years as Speaker Pro Tempore of the North Carolina House of Representatives, four terms as Representative to the NC House, and eight years on the WSFC School Board. Dale has spent many hours volunteering his time helping others and working for charities. He is known across the state as an intelligent, honest person with a big heart. A man of his word, Dale Folwell has a proven track record of working hard and getting things fixed.
Tobias Read brings experience working for the U.S. Treasury Secretary, Nike, and a decade as a State Representative. He fought to fund full-day kindergarten and to make it easier for more than a million Oregonians, who don’t get a retirement plan from their employer, to save for their retirements. Read serves on the Oregon Innovation Council which includes three signature research centers and a roster of industry initiatives that create hundreds of jobs. He lives in Beaverton with his wife Heidi and their two children.
Ambassador (Ret.) Joseph M. Torsella is a successful civic leader who will bring integrity, energy, and vision to the office of Pennsylvania State Treasurer. From 2011 to 2014, Joe was US Ambassador to the UN for Management and Reform. He was the architect and chief public spokesperson for the Obama Administration’s UN reform plans released in 2012, and was the United States government’s lead fiscal watchdog at the UN, from its $36 billion in annual budgets to its $41 billion pension fund to its $2 billion headquarters renovation project. In his tenure, the US reversed a decade-long trend of unbridled growth in UN budgets, brought new transparency to the UN through webcasting of meetings and publication of UN audits, and won milestone reforms toward ending sexual exploitation and abuse of civilian populations by UN peacekeepers and ending the unfair exclusion of Israel in UN bodies. Torsella’s plainspoken style earned him praise from UN watchers and from publications ranging from Le Monde to the New York Post, and he was recognized for his successful use of social media and public diplomacy to promote US policy.
A UN outsider, Joe spoke frankly and colorfully about the need for the UN to end “business as usual” and frequently reminded his UN colleagues that the “obligation to our taxpayers” is to “do more with less.” Prior to his service as an UN Ambassador, Joe served as Chairman of the Pennsylvania State Board of Education. In that role, Joe opened the board’s workings to the public – holding board meetings outside of Harrisburg for the first time in decades – and led the board to set forth an agenda around high school reform, teacher quality, healthy and safe schools, and college affordability. The Board’s hearings and proposals on making higher education more affordable won national notice and sparked legislative action in Pennsylvania. From 1997 to 2003, Joe was the founding President and CEO of the National Constitution Center in Philadelphia, a non-profit museum and education center dedicated to explaining and celebrating American ideas and ideals. As the driving force behind the concept, construction, and opening of the $200 million facility on Independence Mall, Joe led the Constitution Center to international acclaim, financial stability, and an unparalleled institutional reputation.
He returned to the Constitution Center for a second term as CEO from 2006 to 2009, persuading President George H. W. Bush to join the Center as its Chairman, and working to establish the Center’s international program, including democracy education work in Afghanistan. Joe was asked to lead the National Constitution Center by then-Mayor Rendell. Between 1992 and 1993, Joe served as Deputy Mayor for Policy and Planning in Philadelphia under Rendell. He helped devise initiatives that helped resolve a $1.25 billion cumulative deficit. The New York Times hailed this nationally-acclaimed financial recovery as “the most stunning turnaround” in American municipal history. In addition to his career in government, Joe has served in a variety of high profile civic posts. In 2005, he co-chaired the Greater Philadelphia bid for the 2016 Olympic Games. A former successful small business owner, he serves on several corporate boards, and he served as a Distinguished Visiting Fellow in Public Policy at Drexel University. Raised in Berwick, PA, Joe graduated from Wyoming Seminary high school. After graduating with honors from the University of Pennsylvania with a degree in Economics and History, Joe studied at Oxford as a Rhodes Scholar. He lives with his wife, Carolyn P. Short, in Flourtown, Pennsylvania; they have four children.
Duane Davidson took office as Benton County Treasurer in 2003, and was re-elected in 2014 to his fourth term. He is a Certified Public Accountant and keeps his license current. He is currently serving his second term as President for the Washington State Association of County Treasurers (WSACT) and previously served as Treasurer for that organization. He has also served on the Audit, Legislative and Website committees as well as being the historian/ archivist for WSACT. Duane is the past-President for two separate Kiwanis Clubs in the Tri-Cities and currently the Treasurer for the Kiwanis Club of Tri Cities Industry Foundation. He has served as a Church Speaker for Gideon International and as Church Treasurer.
He served as the Chief Financial Accountant for Benton County immediately before his election to County Treasurer. Duane was previously an auditor for the Washington State Auditor’s Office where he served as the Assistant Audit Manager in the Tri-Cities and was also in charge of the Walla Walla regional offices. Duane was born and raised in Carnation, WA graduating from Tolt High School then started his undergraduate education at Bellevue Community College. After transferring to Central Washington University in Ellensburg he received a Bachelor of Science in Accounting. He and his wife Kathy, daughters Bailey and Kinzey, and son Luke presently live in the Tri-Cities.
Pursuant to Chapters 403 and 2116 of the Texas Government Code, the Texas Comptroller of Public Accounts (“Comptroller”) announces the issuance of its Request for Proposals No. 218b (“RFP”) from qualified financial institutions interested in providing services (“Services”) for the Texas Achieving a Better Life Experience (ABLESM) Program (the “Texas ABLE Program,” “Texas ABLE,” or the “Program”).
The successful respondent(s) will be expected to begin performance of the contract(s), if any, awarded under this RFP on or about April 10, 2017. The anticipated schedule of events pertaining to this solicitation is as follows:
Anticipated Schedule of Events Date
RFP Issuance: November 4, 2016
Written Questions Due: November 18, 2016
Response to Questions Post: December 2, 2016
Proposals Due: December 16, 2016
Contract Execution: April 10, 2017
Commencement of Work: May 1, 2017
Comptroller reserves the right, in its sole discretion, to change the dates listed for the anticipated schedule of events. Any amendment to this solicitation will be posted on the ESBD as a RFP Addendum. The complete RFP is attached to this Notice. Closing Date: Proposals must be received in the Interim Deputy General Counsel’s Office at the physical address specified above no later than 2:00 p.m. CT on Friday, December 16, 2016. Late proposals will not be considered. It is the responsibility of interested parties to periodically check the ESBD for updates to the RFP prior to submitting a proposal.
BOSTON (STATE HOUSE NEWS SERVICE) – Students at a University of Massachusetts campus would be alerted to their total student debt load and estimated monthly payoff amounts under a pilot program proposed by Treasurer Deborah Goldberg.
Goldberg on Wednesday filed a bill that would direct UMass to work with her office and the Department of Higher Education to develop the pilot on one of its campuses. At that campus, enrolled students would receive “an estimate of their total outstanding or pending student loan obligations.”
In addition to the total amount of debt amassed, each student would be given “an estimate of the monthly repayment amounts that a similarly situated borrower may incur, including principal and interest, for the amount of loans the student has taken out at the time the information is provided.”
The treasurer told the News Service that the notices could help students make better decisions about taking on student loan debt and will make them more aware of the debt they are accumulating while attending college.
“We’ve seen that when kids do get the information that they need, they make good decisions. It’s just that there’s so much that they don’t understand,” Goldberg said Wednesday. “This is part of our greater financial literacy work and college savings work also.”