TRANSMITTAL LETTER FOR BOARD MEETING OF JUNE 6, 2013
COMMITTEE ON PROCUREMENT
Mr. David St. Pierre, Executive Director
Title
Report on advertisement of Request for Proposal 13-RFP-12 Deferred Compensation Investment Consulting and Administrator Selection Services, estimated cost $170,000.00, Account 101-25000-601170
Body
Dear Sir:
Request for Proposal documents have been prepared for Deferred Compensation Investment Consulting and Administrator Selection Services at the request of the Human Resources Department.
The purpose of this contract is to select a vendor to provide investment consulting services and administrator selection services related to the Deferred Compensation Plan. Investment consulting services will include semi-annual performance evaluation of the mutual fund offerings and presentation of the results to the Deferred Compensation Committee, investment recommendations for mutual funds to supplement or replace funds in the existing line-up and Investment Policy review and recommendations for revisions as needed. Administrator selection services will include assisting the District in developing a request for proposal for a Section 457 Deferred Compensation Plan record keeper and administrative services provider, evaluating the proposals received, recommending the finalists, participating in the finalist interviews and making a final vendor recommendation to the Committee. The current three-year contract expires on December 31, 2013. This contract will have a duration of three years covering the period from January 1, 2014 through December 31, 2016.
The estimated cost for this contract is $170,000.00. The estimated 2014, 2015 and 2016 expenditures are $90,000.00, $40,000.00 and $40,000.00 respectively.
A bid deposit is not required for this request for proposal.
Appendix A will be included with this request for proposal.
The tentative schedule for this contract is as follows:
Advertise July 17, 2013
Proposals Received August 16, 2013
Award November 21, 2013
Completion December 31, 2016
Funds are being requested in 2014, 2015 and 2016, in Account 101-25000-601170, and are contingent on the Board of Commissioners' approval of the District's budget for those years.
Respectfully Submitted, Darlene A. LoCascio, Director of Procurement and Materials Management