Investment Consulting Services

The Vendor is required to provide professional investment consulting firm (Investment Consultant) to provide the agency with expert and experienced investment consulting services.
- Consultant will provide independent expertise in investment design, performance oversight, and fiduciary governance, helping the Board and staff maintain a participant-focused, cost-effective, and forward-looking investment program.
- The consultant will deliver objective analysis, innovative strategies, and actionable insights that advance the agency mission of supporting City employees in achieving long-term financial security through effective saving and investing.
- Investment Policy and Strategy: Review and recommend updates to the agency Investment Policy Statement (IPS), asset allocation framework, and performance objectives consistent with the agency goals, fiduciary standards, and applicable laws.
- Investment Menu Structure: Evaluate and recommend investment option design and tiring, including core menu options, asset allocation funds, and self-directed brokerage features.
- Fiduciary and Governance Support: Provide independent advice to assist the Board in fulfilling its fiduciary obligations related to investment menu design and oversight, including education, training, and governance best practices.
- Performance Measurement and Reporting: Provide quarterly reports addressing returns, fees, and benchmarking comparisons, and assist in communicating performance insights to the Board and staff in a manner that supports informed fiduciary decision-making.
- Participant and Plan Level Outcomes: Assist the agency in evaluating the effectiveness of the agency investment structure and participant outcomes through comprehensive benchmarking and comparative analytics; assessing how participants, collectively and across demographic segments, are investing, saving, and progressing toward retirement readiness relative to comparable public sector DC plans; reviewing asset allocation patterns, use of default and self-directed options, contribution and withdrawal behaviors, and participant-level investment performance over time.
- Strategic Analyses: Perform special projects or studies as requested, including on topics such as plan design benchmarking, participant investment behavioral and asset allocation trends, decumulation practices and outcomes, and considerations of having alternative assets in DC plans.