The vendor is required to provide competitive proposals for the provision of investment advisory services, administrative and investment management services, member services, custodial services, and other services appropriate for the successful operation and administration.
- Investment management
• The investment advisor shall achieve and maintain the highest attainable rating for stable value local government investment pools.
• The credit rating is an indication of the ability to preserve principal as determined by a nationally recognized statistical ratings organization.
• Address how proposer will conduct periodic cash flow analyses.
• Address how proposer will maintain pool historical records, forecasts, and comparisons.
• The investment adviser will be responsible for covering the reasonable administrative costs the state treasurer may incur in administering the pool and any other costs such as the cost of the audit services during the period of the contract.
- Custodial services
• Custodial services must include, but not limited to: (a) a process for the daily balancing of the custodial activity and records with the investment advisor; (b) a system for accepting and delivering securities against payment, also known as “DVP,” in accordance with instructions from the provider; (c) a system for receiving wires, ach transfers and checks; and (d) a system for sending outgoing wires, ach transfers, and checks.
• Confirm that the custodian has not been:
• Convicted of or pled guilty or nolo contendere (“no contest”) in a domestic, foreign, or military court to any felony;
• Charged with any felony;
• Convicted of or pled guilty or nolo contendere (“no contest”) in a domestic, foreign, or military court  to committing or conspiring to commit a misdemeanor involving: (i) financial services or a financial services-related business, (ii) fraud, (iii) false statements or omissions, (iv) theft or wrongful taking of property, (v) bribery, (vi) perjury, (vii) forgery, (viii) counterfeiting, or (ix) extortion;
• Found by any state or federal regulatory agency or foreign financial regulatory authority or self- regulatory organization to have made a false statement or omission or been dishonest, unfair or unethical;
• Found by any state or federal regulatory agency or foreign financial regulatory authority or self- regulatory organization to have been involved in a violation of a financial services-related regulation or statute; and/or
• Found by any state or federal regulatory agency or foreign financial regulatory authority or self- regulatory organization to have been a cause of a financial services-related business having its authorization to do business denied, suspended, revoked or restricted.
- Client services
• Confirm that proposer will designate a sole point of contact (and make reasonable provisions for a backup contact) to regularly meet with participants of the pool in person or over the phone.
• Confirm that proposer will develop and provide participant account application and agreement forms and processes.
• Confirm that proposer will develop a marketing and information plan to communicate periodically with prospective and current plan participants and provide a sample of the marketing and information plan.
• Confirm that proposer will assist participants with the completion of enrollment forms and verify the completeness of the forms.
• Confirm that proposer will distribute enrollment packages on request.
• Confirm that proposer will provide enrollment counseling to potential participants who wish to discuss the pool in person or over the telephone.
• Confirm that proposer will allow participants to have an unlimited number of accounts or sub-accounts.
• Confirm that proposer will allow participants to invest funds by check, automated clearing house (“ACH”) or fed wire funds services (“fed wire”).
• Confirm that proposer will allow participants free unlimited transactions on any business day.
• Confirm that proposer will provide both a toll free number and a secure web portal for participants to access information, including, but not limited to:
1. Account and sub-account name and number;
2. Account balances;
3. Transaction date(s);
4. Transaction type(s);
5. Dollar amount of transaction(s);
6. Resulting account value;
7. Interest reinvested;
6. Month-to-date and year-to-date interest;
7. Daily, monthly, and effective yield;
8. A statement of investments for the full pool portfolio;
9. Historical yield information;
10. Make contributions; and
11. Make withdrawals.
- The investment advisor for the pool is responsible for all costs associated with the operation and administration of the pool, which includes, but is not limited to:
1. Portfolio management and reporting
2. Portfolio accounting and reporting
3. Credit/risk management and compliance
4. Custodial services
5. Audit services
6. Legal services
7. Pool credit rating
8. Sales and marketing
9. Participant servicing and training
10. Travel and entertainment.
- Contract Period/Term: 5 years
- Questions/Inquires Deadline: May 30, 2025