Investment Advisory Services

The Vendor is required to provide investment advisor to serve as a co-fiduciary for both the 401(a) and 457(b) plans.
1. Investment monitoring and benchmarking
• Performance reviews: monitor investment lineups for both plans and deliver quarterly reports evaluating fund performance, allocations, and fees against established benchmarks.
• Lineup recommendations: propose strategic enhancements or changes to the investment lineups to the 401(a) dc retirement board and the 457(b) advisory committee as appropriate.
• Benchmark review: evaluate and recommend appropriate investment benchmarks to both dc retirement board and advisory committee.
2. Governance, compliance and fiduciary support
• Fiduciary responsibility: act as a co-fiduciary to the plans and their participants, ensuring all plan structures align with industry regulations.
• Investment policy statement (IPS): conduct an annual review and assist in administering the IPS to reflect regulatory updates and industry best practices.
• Regulatory compliance: provide proactive updates, technical insights, and recommendations regarding legislative and regulatory changes impacting municipal retirement plans.
3. Vendor management and administration
• Fee optimization: review record-keeper fee structures, lead fee negotiations, and assist with formal record-keeper solicitations or selections as necessary.
• Implementation support: coordinate and oversee the execution of approved fund or plan changes with metro staff and the record-keeper.
4. Meeting and committee participation
• Quarterly meetings: attend all regularly scheduled quarterly meetings for both the dc retirement board and the 457(b) advisory committee.
• Ad hoc support: participate in special or ad hoc meetings as requested by metro.