Consultant Services

The vendor is required to provide from qualified firms to serve as an independent investment consultant to assist in the evaluation and optimization of its existing deferred compensation plans.
- The proposer’s qualifications, capabilities, resources, and value-added services.
- The following services will be required of the consultant:
• A review of the city’s existing deferred compensation plans with recommendations as to possible and effective combining, eliminating, or improving existing plans.
• An analysis of the investment of funds and policies, asset allocations, and asset class strategies of the existing plans, and any recommendations for amendments or modifications warranted by changes in the marketplace or regulatory guidelines, along with appropriate details and justification.
• A discussion with any representative employee groups as to specific needs within such plans.
• Assistance in identifying and implementing city administrative or financial functions for the administration of plans.
• Development and review and contract development for new chosen plan provider(s) to include plan administration and plan-related administrative services, if applicable.
• An analysis and evaluation of all proposals received in response to, applicable.
• Assistance in the negotiation of an agreement with selected provider(s), if applicable.
• Assistance and overview of the implementation by the provider, if applicable.
• Provision of regulatory and technical guidance.
• Provision of a semi-annual review of all city plans to include review of investment strategies performance and portfolio mix relative to changes in the markets to make recommendations for rebalancing as deemed necessary or advisable.
• Those reports should include, but not be limited to, measurement of the overall investment performance of the plans, evaluation of quarterly returns in comparison to their peer groups and applicable benchmarks, and summarization of current asset allocation breakdowns.
• The consultant is expected to have and maintain a broad database of investment managers and funds, including information on their policies, investment styles, fee schedules, portfolio characteristics, firm characteristics, and performance.
• Attend annual regular meetings called by the city, as requested. it is expected that the consultant will attend annual meetings in person if needed.
• Provide education to the city staff or committee regarding asset classes, market overviews, economic forecasts, and any other relevant information reasonably requested.
• Communicate with city staff as needed to provide updates on the status of the funds, the market, and any other factors that may affect performance of the plans.
- Contract Period/Term: 1 year
- Pre-Submittal Meeting (Non-Mandatory) Date: April 01, 2025
- Questions/Inquires Deadline: April 8, 2025