Defined Contribution Investment Consulting Services

The Vendor is required to provide non-discretionary investment consulting services for agency two (2) Defined Contribution (DC) Plans: the Plan (401(k) Plan) and the Deferred Compensation Plan (457 Plan).  
- This engagement will be used to:
•    Support the oversight of approximately $238 million in combined plan assets (as of  December 31, 2025),
•    Provide independent, expert advice to the Board and RPC,
•    Ensure compliance with fiduciary standards and regulatory requirements.
- This includes advising on fund selection, performance monitoring, and governance, while the Board retains all decision-making authority.
- strengthen fiduciary oversight, support prudent plan management, enhance participant outcomes, ensure regulatory compliance, improve investment performance, and help the Board fulfill its fiduciary duties.
- This engagement will benefit the organization and Plan participants by ensuring that investment options are prudently selected, cost-effective, regularly monitored, aligned with participants’ long-term retirement readiness, and aligned with the Board’s fiduciary obligations.
- Service Requirements:
•    Investment policy guidance: assisting in developing and maintaining investment policies, objectives, and guidelines for the dc plans.
•    Plan option selection & evaluation: advising on selection, replacement, and initial analysis of investment options available to participants and providing ongoing monitoring and evaluation of investment options relative to benchmarks, peers, and stated objectives.
•    Performance monitoring: conducting regular performance reviews (at least semi-annually, preferably quarterly) of investment options.
•    Fee and expense analysis: reviewing and advising on the reasonableness of plan fees and expenses relative to services provided and plan features, at a minimum of once every three years. Fee negotiation services.  As a value-added service, the consultant may also assist with fee negotiations with investment managers, where appropriate, to help secure institutional pricing and favorable fee terms for the plan.
•    Participation in RPC and board meetings, as needed.
•    Ability to provide research on related topics
•    Fiduciary education and training for the RPC and/or the board
•    Legal and regulatory updates
•    Maintenance of fiduciary checklists
•    Analysis of participant trends and behaviors based on data provided by the record-keeper
•    Assistance with record-keeper RFPS (once per contract term – please list cost separately as an optional service)