Investment Advisory Services | Package A: City Investment Portfolio | Package B: Section 115 Trust

The City of Milpitas is seeking qualified firms to provide investment advisory services for two distinct portfolios: (1) the City’s general investment portfolio and (2) a Section 115 retirement trust that serves California local governments. Each package will be evaluated and awarded separately, resulting in two five‑year contracts (with two optional one‑year extensions, for a potential total of seven years). The work includes comprehensive portfolio review, analysis, reporting, investment management, and administrative services in accordance with the City’s investment policy and applicable IRS regulations. Proposals must be submitted electronically via the OpenGov e‑procurement portal by September 24, 2026, with questions due by September 3, 2026. The anticipated start dates are January 1, 2027 for Package A and April 1, 2027 for Package B. • Two separate contracts (Package A – City Investment Portfolio; Package B – Section 115 Trust) • Scope: portfolio analysis, reporting, investment management, and trust administration • Initial term: 5 years, with two 1‑year renewal options (up to 7 years) • Start dates: 1 Jan 2027 (Package A) and 1 Apr 2027 (Package B) • Submission deadline: 24 Sep 2026, 12:00 PM (electronic) • Question deadline: 3 Sep 2026 • Primary contact: Jennifer Cheng, Senior Special Project Associate ([email protected])