Investment Consultant Services

The Vendor is required to provide investment consulting services for the City employees’ 401(k), 401(a), and Supplemental Pension Savings Plans (SPSP and SPSP-H).
- The Plan is intended to comply with the provisions of section 401(a) of the Internal Revenue Code that relate to qualified governmental retirement plans.
- The 401(a) Plan includes Employee mandatory and voluntary contributions.
- Assessing investment fund performance against benchmarks and providing written quarterly reports to the Board, including general economic conditions and forecasts of capital markets, interest rates, inflation, and risk and returns for all asset classes;
- Reviewing the appropriate asset allocation and structure of the Plan funds. Suggesting changes to the investment structure, as needed, to ensure diversified investment portfolio options;
- Advising the Board on the selection and retention of investment managers. This will involve conducting investment manager searches, helping to negotiate terms of the engagement, providing written guidelines to managers consistent with individual mandates and the Plan Investment Policy, conducting ongoing due diligence and monitoring of investment manager performance;
- Providing investment education to the Board to ensure the Board is apprised of all pertinent issues, including latest investment trends as well as regulatory updates; and
- Conduct manager (mutual fund) searches, as required. Provide report of findings to the Trustee Board and coordinate any resulting finalist interviews and selection notifications.