Pension Fund Consulting Services

The Vendor is required to provide an investment consulting to provide fiduciary guidance and strategic support for both the defined benefit and defined contribution plans.  
- The consultant must deliver comprehensive investment advisory services including, but not limited to, policy development, asset allocation strategy, and investment manager due diligence, performance measurement, alternative asset support, risk management, and compliance reporting.
- Investment Policy Review and Development
•    Assist in the development, review, and periodic updates of investment policy statements (IPS) for both defined benefit and defined contribution plans.
•    Ensure policies reflect fiduciary standards, strategic objectives, and regulatory compliance.
- Asset Allocation and Liability Analysis
•    Conduct asset-liability studies and provide strategic asset allocation recommendations.
•    Model risk and return scenarios to support long-term funding and benefit objectives.
- Investment Manager Search and Due Diligence
•    Recommend, identify, and evaluate investment managers across asset classes.
•    Conduct thorough due diligence, including qualitative and quantitative analysis, and assist in manager transitions as necessary.
- Performance Monitoring and Reporting
•    Provide detailed quarterly performance reports for all investment options, benchmarks, and total fund performance.
•    Offer attribution and risk analysis to evaluate the effectiveness of investment strategies.
- The Contractor shall deliver timely, accurate, and comprehensive investment performance reports on a quarterly basis, or more frequently as required. Reports shall include, but not be limited to:
•    Net and gross returns for each investment option, manager, and the total fund
•    Comparisons against appropriate market benchmarks and peer groups
•    Performance attribution by asset class, manager, and strategy
•    Risk metrics such as standard deviation, sharpe ratio, beta, and drawdown
•    Provide written and verbal commentary summarizing market conditions, key drivers of performance, and strategic recommendations.
•    Upon request, the contractor shall support performance audits or due diligence reviews by providing documentation and explanations of assumptions, methodologies, and data sources used.
•    The contractor shall maintain consistent reporting formats and terminology to facilitate long-term tracking and comparison, while remaining flexible to accommodate evolving client preferences.
- Alternative Investments and Private Markets
•    Support sourcing, evaluation, and ongoing monitoring of alternative investments including private equity, private credit, real assets, and hedge funds.
•    Assist in reviewing and negotiating fund terms and fee structures.
- Fee Analysis and Benchmarking
•    Provide periodic benchmarking of investment manager fees and other plan costs.
•    Recommend cost-saving opportunities without compromising investment quality.
- Defined Contribution Plan Support
•    Advise the district committee on fund lineup design, default investment strategies (e.g., target-date funds), and provider searches.
•    Support fiduciary oversight, education efforts, and fee benchmarking for the district Plans.
- Education and Client Support
•    Attend retirement committee meetings (normally held quarterly) and any other meetings as necessary.
•    Provide education to the airport, district committee, and staff on investment topics, fiduciary responsibilities, and governance best practices.
•    Assist with the development of board and committee presentations and participate in regular meetings as requested.
- Investment Consulting Philosophy and Process
•    The contractor shall articulate a clear and consistent investment consulting philosophy that guides all strategic and tactical recommendations provided to the airport and its governing bodies. 
•    This philosophy shall include a prudent, long-term approach to asset management aligned with fiduciary principles.
•    The contractor shall maintain a defined investment consulting process that is transparent, research-based, and repeatable. This process shall include:
•    Identification and evaluation of client objectives, constraints, and risk tolerance
•    Development of customized investment strategies that reflect plan demographics, funding status, and market conditions
•    Ongoing assessment of economic, capital market, and regulatory environments that may impact plan strategy
•    Integration of environmental, social, and governance (ESG) considerations, as applicable and desired by the airport.
- The Contractor shall tailor its approach to align with the unique characteristics and needs of both defined benefit and defined contribution plans and provide proactive guidance that anticipates market trends and regulatory changes.
- Recommendations shall be based on the best available data, tools, and analytics, and be presented in a manner that is clear and understandable to both technical and non-technical stakeholders.

- Contract Period/Term: 5 years
- Pre-Submittal Meeting Date: September 03, 2025
- Questions/Inquires Deadline: September 10, 2025
- Intent to Bid Due Date: September 24, 2025