The Vendor is required to provide for agency defined benefit retirement plan (DB Plan).
- Investment Services
• Prepare monthly, quarterly, and annual investment performance reports for the DB plan.
• Present quarterly statements and monthly updates to the defined benefit retirement board
(DB board) at quarterly meetings.
• Review and recommend updates as needed to the investment policy statement on a biennial basis and the strategic asset allocation and investment structure on an annual basis.
• Monitor the portfolio and provide recommendations to the DB board on changes in asset allocation and managers.
• Assist agency staff in monitoring asset allocation on a regular basis.
• Conduct investment manager searches and evaluations.
• Make recommendations for investment selections.
• Assist agency staff with properly disclosing investments in the agency and DB plan financial statements.
• Provide ongoing investment support and education as needed.
- General investment consulting
• Provide market updates and general assessments of economic conditions as it relates to the DB plan at quarterly meetings.
• Attend all DB plan meetings, generally four per year, though this may vary.
• Work collaboratively with other plan consultants, such as the actuary, auditor, and trustee bank.
• Provide other investment consulting services as needed.
- Fiduciary education
• Provide fiduciary education to DB board members and staff regarding significant trends that may affect the DB plan’s actuarial valuation and provide additional training as requested.
- Contract Period/Term: 5 years
- Questions/Inquires Deadline: May 29, 2025