TRANSMITTAL LETTER FOR BOARD MEETING OF MAY 15, 2025
COMMITTEE ON PROCUREMENT
Mr. John P. Murray, Acting Executive Director
Title
Authority to advertise Contract 25-RFP-15 Deferred Compensation Plan Investment Consulting Services, for a three-year period, effective January 1, 2026 to December 31, 2028, estimated cost $165,000.00, Account 101-25000-612430, Requisition 1638161
Body
Dear Sir:
Request for proposal documents have been prepared for a provider of deferred compensation plan investment consulting services at the request of the Human Resources Department.
The purpose of this contract is to select a vendor to provide deferred compensation investment plan consulting services related to the following: quarterly performance evaluation of the mutual fund offerings available through the plan, including, but not limited to, comparison of each fund to the appropriate fund universe and benchmarks; presentation of a written report to the Deferred Compensation Committee (Committee) at regular Committee meetings on a semi-annual basis; investment recommendations for mutual funds to supplement or replace funds in the existing fund line-up as requested; and review of plan investment policy and recommendations for revisions should they be needed due to regulatory or other industry changes. This professional services contract will cover the period from January 1, 2026 through December 31, 2028.
The estimated cost for this contract is $165,000.00. The estimated expenditures for 2026, 2027, and 2028 are $55,000.00 annually.
No bid deposit is required for this request for proposal.
The Diversity Section reviewed the request for proposal to determine if Affirmative Action Ordinance Revised Appendix A and Appendix V goals will apply. In view of the continuity required to perform these investment consulting and fiduciary services, the selected consultant must ensure its direct involvement and stewardship in completing the scope of work. As such, there are no practical opportunities for subcontracting and Appendix A and V will not apply.
The tentative schedule for this contract is as follows:
Advertise June 25, 2025
Proposals Received July 25, 2025
Award November 6, 2025
Completion December 31, 2028
Funds will be requested in 2026, 2027 and 2028 in Account 101-25000-612430, and are contingent on the Board of Commissioners’ approval of the District’s budget for those years.
In view of the foregoing, it is recommended that the Director of Procurement and Materials Management be authorized to advertise Contract 25-RFP-15.
Requested, Thaddeus J. Kosowski, Director of Human Resources, TJK:JEF
Recommended, Darlene A. LoCascio, Director of Procurement and Materials Management
Respectfully Submitted, Precious Brady-Davis, Chairperson Committee on Procurement
Disposition of this agenda item will be documented in the official Regular Board Meeting Minutes of the Board of Commissioners for May 15, 2025
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