Investment Management and Advisory Services

The vendor is required to provide for investment management and advisory services to assist the deferred compensation committee with administering an optional deferred compensation program for employees.  
• Attend quarterly on-site committee meetings in person, with travel fees included in the annual rate.
• The vendor shall be responsible for accurately documenting quarterly committee meetings.   meeting minutes shall be submitted to the committee chair for review within thirty (30) days following each meeting. 
• Participate in additional meetings, as needed.
• Provide quarterly fund performance reports in a timely manner after reporting period, that include, but are not limited to, the following information:
o Overview of general market conditions,
o Overview of the plan’s portfolio funds,
o Comparison of plan funds in each asset category to appropriate benchmarks,
o Historical performance returns,
o Investment earnings for each fund.
• Investment advice:
o Review and monitor the plan’s current investment options,
o Advise in the selection and monitoring of investment options under plan,
o Conduct investment product searches, as needed,
o Negotiate pricing of investment products on behalf of the city,
o Conduct annual share class review.
• Provide annual fee review, comparing plan expenses with those of similar sized plans.
• Assist with drafting for record keeper services and with selection process of record keeper: 
o Establish scoring criteria and scoring system,
o Work with the city’s procurement division to identify candidates to receive the rfp,
o Complete thorough analysis of the responses and provide summary of the responses,
o Meet with decision making body to review analysis and decide on finalists.
• Provide conversion assistance if a new record keeper is selected:
o Assist with contract negotiations with record keeper,
o Develop strategy to ensure investments between record keepers move to similar products,
o Work with record keeper to communicate conversion process to participants,
o Assist with making sure deadlines is met and that the blackout period during the switch is kept to a minimum.
• Monitor record keeper performance for quality control.
• Prepare the investment policy statement and review annually for changes.
• Provide comprehensive review of plan documents and advise amendments, as needed.
• Communicate regulatory updates affecting the plan and provide oversight of plan compliance and reporting.
• Provide fiduciary education to the committee members, at least annually.
• Complete annual administrative benchmarking review.
- Contract Period/Term: 2 years
- Questions/Inquires Deadline: July 10, 2025