The vendor is required to provide investment consulting and plan consulting services related to the city’s 457(b) deferred compensation plan (hereafter “plan”).
• Advise and monitor assets of the deferred compensation plan in adherence with the plan’s statement of investment policies and guidelines 
• Prepare quarterly performance measurement reports for presentation to the committee. 
• Reporting would include quantitative and qualitative information including but not limited to the current market overview, summary of investment performance compared to benchmark indices and peer group indices, risk and standard deviation characteristics, style and cycle analysis, and recommendations. 
• Provide recommendations on minimum criteria, fee structure, risk and volatility tolerances, performance benchmarks, manager performance, and other qualifications required for investment vehicles and the administration thereof. 
• Analyze, evaluate, and provide recommendations on asset categories and asset allocation. 
• Monitor and evaluate investment performance through meetings with fund managers. 
• Provide periodic comprehensive analysis of the specific fees and costs associated with the plan, including benchmarking record-keeper fees; assist with record keeper fee negotiation as needed. 
• Provide information on and interpretation of employee retirement income security act (ERISA) and other regulatory or industry investment standards. 
• Provide interpretation of and application of fiduciary information, standards, and requirements as it applies to ERISA and non-ERISA defined contribution plans. 
• Assist with research, interpretation, and application of relevant provisions of the internal revenue code, treasury regulations, and other pertinent regulatory requirements or provisions. 
• Assist in determining “best practices” and required or recommended actions to ensure compliance with current and/or proposed legal or regulatory changes to resolve a participant concern. 
• Provide information, interpretation and analysis of contemporary industry issues, industry and plan utilization trends, and prospective or adopted legislative and regulatory changes. 
• Assist with developing policies, procedures, manuals, forms, publications and other documents for consideration and approval. assist in updating these documents in response to legal and economic changes. 
• Assist with reviewing and auditing the accuracy of distribution and administrative revenue reports provided by the record keeper/s, and act as liaison to resolve discrepancies or concerns.
review the plan’s statement of investment policies and guidelines and make recommendations for revisions, if any, or at least an annual basis. 
• Assist with the planning, development, and/or review of employee communications as requested. 
• Regularly attend (at least quarterly) committee meetings and participate in frequent calls and email correspondence with committee leadership and city staff as needed. 
• Be available as needed to: 
o Attend additional meetings when requested 
o Assist with evaluating prospective and current services provided by the plan’s record keeper/s, and acting as liaison when needed 
o Assist with an RFP for any future solicitation for plan record-keeping services. 
o Perform other projects as assigned by the committee.
- Contract Period/Term: 6 years
- Questions/Inquires Deadline: June 11, 2025