Retirement Plan Investment Consulting Services

The City of Sacramento is seeking a firm to provide investment consulting services to support the administration of its 401(a) Defined Contribution Plans, 457(b) Deferred Compensation Plan, Retiree Health Reimbursement Arrangement (HRA) Plans, and to provide advisory support to the City's Defined Contribution Plans Committee. The selected firm will be expected to provide a range of services, including investment consulting, plan design, and administrative support. Some key responsibilities include: • Analyzing and making recommendations regarding investment plan performance, participant costs, plan and investment management, fund selection, plan design, and the format and content of materials submitted by service providers. • Monitoring investment fund performance and recommending additions, removals, or replacements based on qualitative and quantitative criteria. • Reviewing administrative and investment fees for reasonableness and market competitiveness. • Negotiating recordkeeper fees and recommending opportunities to reduce or renegotiate investment fund fees. • Providing ongoing fiduciary training to the City and its Committee. • Keeping the Plan Administrator and Committee informed of current or proposed changes in laws, regulations, and ordinances. • The City is looking for a firm with experience working with public sector deferred compensation plan advisory committees and providing investment consulting services to public sector clients. • The firm should have a strong understanding of the City's objectives and requirements, as outlined in the Scope of Services. • The firm should be able to provide a comprehensive cost proposal for all services described in the Scope of Services for a contractual period of five years.