REQUEST FOR PROPOSAL NO. 26-130-P

Investment Consultant Services

PRE-PROPOSAL MEETING:

Wednesday, April 29, 2026, at 1:00 PM Central

SUBMITTALS ARE DUE PRIOR TO:

Thursday, May 21, 2026, at 2:00 PM Central

RFP MAY BE SUBMITTED ELECTRONICALLY TO (Registration is free):

ntmwd.bonfirehub.com

DOCUMENTS MAY BE DELIVERED TO:

NORTH TEXAS MUNICIPAL WATER DISTRICT

PROCUREMENT DEPARTMENT

501 E. BROWN STREET

WYLIE, TX 75098

DOCUMENTS MAY BE MAILED TO:

NORTH TEXAS MUNICIPAL WATER DISTRICT

PROCUREMENT DEPARTMENT

PO BOX 2408

WYLIE, TX 75098

NORTH TEXAS MUNICIPAL WATER DISTRICT CONTACT:

Dave Leong dleong@ntmwd.com

SOLICITATION SUMMARY FOR

REQUEST FOR PROPOSAL 26-130-P (RFP)

1 GENERAL DESCRIPTION

The North Texas Municipal Water District (NTMWD) is seeking proposals from qualified, experienced consultants to provide professional consulting services as an investment adviser.

2 SCHEDULE OF EVENTS

Please find below a tentative schedule of events for this RFP. NTMWD reserves the right, in its sole discretion, to revise the tentative schedule of events if the said revision is in its best interest.

RFP Release Date: April 16, 2026

Pre-Proposal Meeting: April 29, 2026, at 1:00 PM Central

Deadline for Questions: May 1, 2026, at 1:00 PM Central

Proposal Due Date and Time: May 21, 2026, at 2:00 PM Central

Interviews Contract Execution:

Anticipated the week of June 22, 2026

Anticipated in mid-to-late July 2026

The proposal opening will be held via Webex immediately following the Proposal Due Date and Time. To participate in the opening, please utilize the following information:

URL: https://ntmwd.webex.com/meet/dleong

OR

TEL: 1-415-655-0001 or 844-621-3956 Access Code: 145 101 8098

Only the names of companies who submitted proposals will be read.

3 TERM

The initial term of this agreement shall commence on the date of the last signatory and shall be for a period of five (5) years. The agreement will automatically renew under the same pricing, terms, and conditions for five (5) additional one-year periods unless NTMWD provides Contractor with written notice of its intent to terminate the agreement at least sixty (60) days prior to the expiration of the current term. If said notice is given by NTMWD, the agreement shall terminate at the conclusion of the current one-year term. In no event shall the entire term of this agreement exceed ten (10) years.

Prices shall remain firm for the duration of the initial contract period. Thereafter, price changes are subject to the price adjustment provisions of this Contract.

NTMWD reserves the option to temporarily extend this service for an additional ninety (90) days from its expiration date for any reason.

4 INSURANCE REQUIREMENTS

Before a contract can be executed, the successful proposer shall provide evidence of insurance coverage in accordance with the “Insurance Provisions” in SPECIAL PROVISIONS contained within this solicitation document. Bidders and their insurance agent, broker or representative must review the insurance provisions to understand its requirements and cost to contract with NTMWD. An insurance affidavit is included in this solicitation to verify the proposer will comply with the insurance provisions if a contract is awarded.

TABLE OF CONTENTS

PROPOSAL INSTRUCTION AND REQUIREMENTS

1 Contact Information 2 Addenda and Clarifications 3 Proposal Preparation 4 Proposal Format Requirements 5 Submittal of Proposals 6 Proposal Receipt / Evaluation of Proposals 7 Proposal Award 8 Determination of Non-Responsible Proposer 9 Determination of Non-Responsive Proposal 10 Rejection of Proposals 11 Withdrawing Proposals 12 Proposal Preparation Forms

EVALUATION CRITERIA

SCOPE OF WORK

SPECIAL PROVISIONS

1 NTMWD’s Right to Inspect and Audit 2 Term 3 Insurance Provisions

GENERAL TERMS AND CONDITIONS

1 Assignment 2 Changes In Contract 3 Compliance With Laws 4 Confidential or Proprietary Information 5 Federal Fair Labor Standards Act (Federal Minimum Wage) 6 Fiscal Year Funding 7 Force Majeure 8 Indemnification, Defense and Hold Harmless 9 Independent Consultant 10 Jurisdiction 11 Non-Compete Agreement or Clauses 12 Notice of Delays 13 Occupational Safety and Health Act of 1970 14 Personal Liability of Public Officials 15 Severability 16 Subletting of Contract 17 Tax Exemption Status 18 Termination of Contract: Default And Remedies 19 Termination of Contract For NTMWD Convenience 20 Terms of Payments 21 Third-Party Beneficiary Clause 22 Liability for Damage to District Property 23 Foreign Terrorist Organization 24 Prohibition on Boycotting Israel 25 Prohibited Use of Certain Social Media Applications and Services on Government Devices 26 Disclosure of Interested Parties 27 Disclosure of Certain Relationships 28 Former NTMWD-Employee Representation

PROPOSAL RESPONSE FORMS

1 Proposal Pricing Format 2 Cooperative Purchasing Provisions 3 Insurance Review Verification 4 Subcontractor Agreement Verification

5 Organizational Summary Information 6 Insurance Affidavit 7 Vendor Supplemental Information 8 Proposal Endorsement Form 9 Prohibition on Contracts with Companies Boycotting Energy Companies 10 Prohibition on Contracts with Companies that Discriminate Against Firearm & Ammunition Industries

[End of Table of Contents.]

PROPOSAL INSTRUCTIONS & REQUIREMENTS

A Proposal is requested by NTMWD. NTMWD will receive separate sealed Proposals until the Proposal Due Date and Time. This Section provides information on how and where to submit a Proposal and other pertinent information regarding this RFP. Those who submit proposals are required to read and comply with these instructions.

1. CONTACT INFORMATION

It is the Proposer’s responsibility to ask questions and obtain clarification of any information contained herein. Proposers must submit all questions or requests for clarification ONLY in writing and ONLY to the contact person identified on the Cover of this RFP (the “NTMWD Contact”). The Solicitation Number must be referenced in all correspondence pertaining to this RFP. Proposer contact with NTMWD personnel, other than the NTMWD Contact, may be cause for Proposal rejection.

2. ADDENDA AND CLARIFICATIONS

NTMWD may, in its sole discretion, elect to issue changes or clarifications to the RFP. NTMWD will issue changes or clarifications in the form of a written addendum. Written addenda shall be the ONLY FORM of amendment to the RFP. Other written information or verbal communications shall not constitute a change to the requirements of the RFP. Addenda, if issued, will be mailed, faxed, and/or emailed to all known prospective Proposers prior to the date and time of the Proposal Due Date and Time.

It is the Proposer’s responsibility to ensure receipt of any addenda issued by NTMWD. Failure of any Proposer to receive any such addendum or interpretation shall not relieve the Proposer from any obligations under its Proposal as submitted. The Proposer must sign all addenda and return them with their Proposal. All addenda shall become part of the contract documents.

3. PROPOSAL PREPARATION

A. Submittals: Proposer must submit all Proposal Response Forms, plus all addenda, completed forms, and any requested information and documentation as part of its Proposal. Proposer’s failure to include all submittals may be cause to consider a Proposal non-responsive.

B. Endorsing the Proposal: An authorized officer of the Proposing Firm must sign the Proposal. Signature of the

Proposal will signify agreement and compliance with all requirements set forth in this RFP except where properly noted in the Proposal Response Forms. Proposers that take exception to NTMWD’s General Terms and Conditions, Special Provisions, and/or Scope of Work shall do so at the risk of Proposal rejection.

C. Tax Exempt Status: Purchases by NTMWD are exempt from sales and use tax under Section 151.309 of the

Texas Tax Code (the “Code”). In addition, purchases of tangible personal property and taxable services for the purpose of reselling them to NTMWD may also be exempt from sales and use tax under Code Section

151.302. Where legally permitted, a Consultant shall provide the vendor or supplier with a properly executed resale certificate at the time of purchasing tangible personal property and/or taxable services that are to be resold to NTMWD pursuant to a contract.

D. Acceptance of Specification Requirements: NTMWD will presume that the service offered complies with each requirement of the scope of work unless indicated otherwise. If the service offered is different than specified, Proposer must note the difference on an attached document that details the exception(s) to scope of work.

Failure of the Proposer to make the required acknowledgements may cause the Proposal to be considered non- responsive, in the sole determination of NTMWD. Should any product be delivered or service performed which is not as the Successful Proposer has purported it to be in its Proposal, said Successful Proposer will be required to correct any deficiencies without additional cost to NTMWD.

E. Proposer Requirements: The Proposer must have demonstrated experience of a similar nature and scope in the successful completion of the services to be performed pursuant to the Scope of Work. The Successful Proposer must take prime Consultant responsibility, including the management and performance of all subcontractors and products (goods) provided.

F. Proposer Costs: Any costs that may be incurred to prepare responses, attend meetings, attend site inspections, provide requested follow-up information, make formal and informal presentations, and / or contract negotiations, if applicable, shall be the sole responsibility of the Proposer.

G. Confidential or Proprietary Markings: Any portion of the Proposal that Proposer considers confidential or proprietary information, or to contain trade secrets of Proposing Firm, must be marked accordingly. This marking must be explicit as to the designated information. This designation may not necessarily guarantee the non-release of the information under the Public Information Act or as otherwise required by law but does provide NTMWD with a means to review the issues thoroughly and, if justified, request an opinion by the Attorney General's office prior to releasing any information requested under the Public Information Act.

4. PROPOSAL FORMAT REQUIREMENTS

Overview

To facilitate and expedite the evaluation process, all information in the Proposal should be organized and presented as directed below. A Proposal may be deemed to be non-responsive and may be disqualified, at NTMWD’s discretion, if the Proposal fails to comply with the following instructions.

Proposal Organization

The original hard copy Proposal shall be submitted in a 3-ring binder or electronically via Bonfire.

Proposals that are uploaded to ntmwd.bonfirehub.com by the specified due date and time will satisfy the bidding requirements.

Proposal text shall be typed in font no smaller than 10 point, on 8.5-inch by 11-inch paper, with one-inch margins.

Proposals may be either single-sided or double-sided pages and single-spaced the entire document.

All Proposal sections shall be divided by the use of numeric index tabs. All pages within these sections shall be uniquely numbered for purposes of easy reference.

Proposals shall be assembled in accordance with the following format.

Cover Letter (1 Page Limit)

• Include an explicit statement indicating that the Proposer, if successful, will be the Prime Consultant for the Work.

Executive Summary

• Provide an executive summary of your proposal and include a representation that the proposal addresses all of the RFP’s requirements. The executive summary must not exceed 3 pages and must provide a full and concise summary of the proposal. Proposer must identify any proposed services beyond those specifically requested.

Table of Contents

• Include references to sections and page numbers.

Disclosure Statements

• Proposer’s disclosure and description of any outstanding legal issues and claims against it in connection with current Scope of Work or other Scope of Work undertaken in the last five (5) years.

• Proposer shall include in its response a statement affirming that no member of NTMWD, no officer, director, agent, or employee of NTMWD, and no member of any commission, committee, NTMWD or corporation controlled or appointed by NTMWD has already received, in connection with or related in any way to this contract, or has been promised, in the event this contract is awarded to the firm, any commission, finder's fee or other thing of value. In addition, the firm shall furnish a statement that identifies any member of NTMWD and any official or employee of NTMWD who, the firm has reason to believe, would or may be financially affected, whether affirmatively or negatively, and whether personally or through a spouse or other family member, if this contract were awarded to the Proposer. Upon request by NTMWD’s Executive Director, or an authorized agent thereof, the Proposer shall respond to any questions relating to the subject of this section.

Addenda

• The acknowledgement page(s) of all addenda issued by NTMWD shall be signed by the Proposer’s authorized representative and submitted in this section.

Section 1 – Company Overview

• Provide the name of the person who is authorized to answer questions regarding the firm’s proposal. Please include a phone number and e-mail address.

• Provide a brief overview of your firm including history, mission and/or philosophy, services offered, areas of expertise and organizational structure.

o Include the number of years in business and the size of company.

o Identify how many years your firm has been providing investment advisory services to public employee retirement systems.

• Describe your firm’s history of providing investment consulting services for similarly sized public pension plans and Other Post Employment Benefits (OPEB) trusts in Texas. Indicate whether your firm is local, regional or international.

• Provide assets under advisement in terms of market value and number of clients broken down by category (pensions, endowments/foundations, sovereign wealth, high net worth individuals, etc.).

• Discuss management philosophy of the firm as it relates to delivery of investment consulting services to its clients.

Section 2 – Team Qualifications

• Provide a list of staff proposed for this project.

• Provide resumes listing the qualifications, experience, and credentials/licenses held by each member of the team assigned to NTMWD’s account.

• Identify each member of the team by their assigned role for the NTMWD account.

• Describe the availability of the assigned consultant(s) to the client, including how many other clients each consultant will have in addition to NTMWD.

• Outline your firm’s succession plan in the event of staff turnover.

Section 3 – Methodology and Approach

• Provide concise written responses to the items listed in Attachment A. Please limit response to all items to no more than 20 pages.

Section 4 – Experience / References

• Provide a financial rating of your company and any documentation such as a Dunn & Bradstreet analysis which indicates the financial stability of your company.

• State whether your firm is currently for sale or involved in any transaction to expand or become acquired by another business entity. If so, please explain the impact both in organizational and directional terms.

• Provide any details of all past or pending litigation/claims filed against your firm that would affect your company’s performance under a contract with NTMWD.

• Sample Reports – provide copies of typical reports provided to similarly sized clients on monthly, quarterly and annual basis. (Reports may be anonymized.)

• Please list a minimum of three (3) references, for which work has been completed in the past thirty-six (36) months. References shall be from customers for whom your firm has provided services in similar size and scope as NTMWD’s needs specified in this request for proposal. Please include a narrative description of the scope of the project. The reference list should include public entities if available. Include the following information:

o Company/Entity name o Location (city and state) o Contact name(s) o Phone number o Email address(s) o Brief description of work performed, and how it is relevant to the Scope of Work in this RFP. Also list any team members who worked on the referenced project that are also proposed for this RFP’s Scope of Work.

• List all clients that have, in the past two (2) years, terminated their contract prior to the contract’s original completion date, including decisions by the client not to exercise remaining contract option years. For any contracts listed, give the reason for termination (if known) and the names and telephone numbers of the client’s agent or employee responsible for administering the contract.

Pricing (Do not include this information in the binder)

Provide a detailed cost breakdown and fee schedule for the services requested. Proposed pricing should be on an annual basis for the base term as well as for each renewal term. NTWMD will not pay separately for travel or incidental expenses. Specify separately, in detail, all non-recurring fees or charges associated with account set up or transition.

For proposals being submitted as a hard copy, provide one (1) copy of the proposed pricing in a sealed envelope entitled “Pricing.” Proposal pricing shall be assembled and presented in accordance with the format and instructions of this RFP.

SUBMITTAL OF PROPOSALS

• NTMWD will accept Proposals no later than the Deadline for Proposal Due Date and Time. NTMWD will not consider late proposals. All Proposals submitted in response to this RFP shall become the property of NTMWD and will not be returned to the Proposer.

• Hard Copy Proposals must be signed, sealed in an envelope or container, and delivered to NTMWD’s

Procurement Department. Unsigned, unsealed or late Proposals will not be considered. The Proposer must submit one (1) original. The Proposal submittal must be clearly marked with the RFP Number, Proposal Due Date and Time and addressed to the attention of the Procurement Department.

• Proposals that are uploaded to ntmwd.bonfirehub.com by the specified due date and time will satisfy the bidding requirements. Technical questions regarding how to upload your submission should be directed to Bonfire support. All other questions regarding this solicitation should be directed to dleong@ntmwd.com by the question due date and time.

• Proposer must provide all information requested in this RFP for a Proposal to be considered responsive.

• Non-Compete Agreements or Clauses: By submission of a bid or proposal or the execution of a contract, Bidder/Consultant agrees that NTMWD will not be bound by any non-compete agreements or similar agreements that inhibit NTMWD’s right to award and execute a contract to any company that submits a bid or proposal to NTMWD.

PROPOSAL RECEIPT / EVALUATION OF PROPOSALS

Responses to this RFP (Proposals) become the exclusive property of NTMWD. Proposals will be opened by NTMWD so as to avoid disclosure of contents to competing Proposers and kept secret during the process of negotiation.

After Proposals are opened, they will be evaluated on the basis given in the Scope of Work and as described in the “Evaluation Criteria” Section of this RFP. Until final award of a Contract, NTMWD reserves the right to reject any or all Proposals, to waive technicalities, or to proceed with an award for the services otherwise as deemed in NTMWD’s best interest.

• NTMWD reserves the right to require additional information from any or all Proposers and to conduct necessary investigations to determine (a) if the product and/or service offered meets NTMWD’s requirements, (b) the quality and reliability of the Proposer’s performance, and/or (c) to determine the accuracy of the Proposal information. As part of said investigations, NTMWD may interview and/or visit companies or public entities listed as references.

• NTMWD reserves the right to select any/all options that is/are determined to be in its best interests and at the sole discretion of NTMWD.

PROPOSAL AWARD

• If a Purchase Order or Contract is awarded as a result of this RFP, it will be made by NTMWD to the Proposer whose Proposal is determined to be the most advantageous to NTMWD, taking into consideration the relative importance of price and other evaluation factors, as identified in the Evaluation Criteria Section of this RFP.

• Proposals shall remain valid during the evaluation process time period including award of the Purchase Order or Contract. This time period is a minimum of 120 days.

• NTMWD reserves the right to make multiple awards if NTMWD believes it is in its best interest to do so.

• NTMWD and the Consultant agree to perform this Contract in strict accordance with the documents listed below, all of which are made a part of this award, in the order of precedence listed:

• Negotiated Modifications, if applicable

• Addenda, if applicable

• RFP Scope of Work

• Special Provisions

• General Terms and Conditions

• Consultant’s Proposal

• Proposer is required to review all the terms, conditions and contract provisions contained in this RFP to ensure it can comply with and concurs with all requirements.

• Proposer is required to review the payment terms and is advised that, unless other terms are requested and accepted, payment shall be made within 30 days after receipt of a valid invoice or receipt of products / services in accordance with the scope of work, whichever is later.

DETERMINATION OF NON-RESPONSIBLE PROPOSER

• NTMWD may disqualify a Proposer as non-responsible and its Proposal shall not be considered for reasons including but not limited to the following:

• Reason for believing collusion exists among the Proposers.

• The Proposer being in arrears on any existing contract or having defaulted on a previous contract.

• Where the Proposer, in the judgment of NTMWD, has failed to perform in a satisfactory manner on a previous contract.

DETERMINATION OF NON-RESPONSIVE PROPOSAL

• NTMWD may disqualify a Proposal as non-responsive and it shall not be considered for reasons including but not limited to the following:

• Proposal received after the Proposal Due Date and Time.

• Proposal was not signed.

REJECTION OF PROPOSALS

• NTMWD will automatically reject any Proposal that is submitted after the Proposal Due Date and Time and return it unopened.

• Until a Purchase Order is issued, NTMWD reserves the right to reject any or all Proposals, to waive technicalities, to re-solicit, to decline to proceed, or to otherwise proceed with procurement of goods and services herein defined by other method(s) allowed by law and in the best interests of NTMWD.

WITHDRAWING PROPOSALS

• Proposer, by submitting a proposal, warrants and guarantees that the proposal has been carefully reviewed and checked and that it is in all things true, accurate and free of mistakes. However, Proposers have a common law right to withdraw a proposal due to material mistake in the proposal.

• Proposer must submit a request to withdraw a proposal in writing to the Procurement Manager. The written request to withdraw a proposal must state the reason for the withdrawal request and, if the request is made after the Proposal Due Date and Time, the details of the material mistake must be included in the request.

A proposal for which withdrawal is properly requested prior to the Proposal Due Date and Time will be returned to the Proposer unopened.

• If the Proposer elects to withdraw its proposal and the withdrawal is accepted by the Procurement Manager or Designee, then the proposal/bid will become null and void. The proposal/bid will not be eligible to be reinstated.

PROPOSAL CHECKLIST

RFP NO. 26-130-P PROPOSER:

A check mark in the space provided indicates these forms, documents, or actions have been completed and are included in the proposal package. All deviations from the scope of work, form submittals, or action items must be documented separately and included in the submission.

Please include a copy of a completed checklist with the proposal response.

Proposal Submittals

Signatures. All forms requiring a signature have been signed.

Proposal Forms. All forms completed, including:

Organizational Summary Form Proposal Endorsement Form All other forms requested as part of the RFP

Addenda. When applicable, Proposer submits signed addenda issued as part of the RFP. If any addenda included amended proposal pages or attachments, those documents must be used and included with the proposal.

Vendor References. Proposer provided the requested number of references for the Proposer.

Proposer Qualifications. When applicable, Proposer to provide all certifications, licensing, or other requested qualifications verification forms or information necessary to validate qualifications to provide products or services.

Proposal Completion Actions

Read/Confirm Intent to Comply. Proposer has read the Scope of Work, Special Provisions, General Terms and Conditions and confirms that he/she will comply with all requirements as provided.

Proofreading. Proposer has proofread all documents to ensure all information provided by the Proposer is accurate and responsive to the RFP scope of work.

NTMWD is not responsible for errors made by the Proposer.

Proposer has proofread all mathematical and number entries to ensure accuracy and commitment to honor pricing as submitted.

Late Proposals. Please note the time, date and delivery location (or mailing address if submitted by U.S. Postal Service). Late bids or proposals will not be accepted.

END OF PROPOSAL INSTRUCTIONS AND REQUIREMENTS

This checklist is intended to be an aid to reduce the possibility of errors in proposal submission; it is not intended to relieve the Proposing Firm from its obligations to review and comply with the RFP requirements.

EVALUATION CRITERIA

1 The evaluation criteria listed below will be used to determine which proposal response is most advantageous to NTMWD. Said determination will be made by NTMWD based on NTMWD’s best interest and shall be considered final. Responses received to this RFP will be evaluated based on the criteria and corresponding weight given in each evaluation category listed herein. NTMWD’s evaluation team may consider feedback from references and/or NTMWD’s direct experience with a Proposing Firm as part of their evaluation process and consideration for scoring proposals. NTMWD’s evaluation team reserves the right to shortlist firms based upon scores/ratings received during the evaluation process.

2 NTMWD will utilize a two-phase process to evaluate RFP proposals. Evaluation Criteria Nos. 1 – 4 below will be utilized to evaluate all proposals for Phase No. 1. NTMWD will identify a short list of Proposers to advance to Phase No. 2 of the evaluation process based upon Phase No. 1 evaluation scores. Evaluation Criteria Nos.

5 – 7 below will be utilized to evaluate proposals from the short list of Proposers for Phase No. 2.

3 Phase No. 2 of the evaluation process will include an evaluation of short-listed Proposers. NTMWD reserves the right to request and require that a short-listed Proposer make an onsite presentation or interview of their proposal. No Proposer is entitled to this opportunity, and no Proposer will be entitled to attend the presentation and demonstration of another Proposer. Shortlisted Proposers from whom NTMWD desires presentations and demonstrations will be notified by written communication from the NTMWD Contact of the date, time, location, and format of the presentation and demonstration. Following all presentations and demonstrations, NTMWD’s evaluation committee will evaluate each Proposer in light of information provided to NTMWD utilizing all of the evaluation criteria outlined below.

4 The evaluation criteria are listed below:

No. Criterion Weight

Phase I

Current Registration Necessary to be Compliant with the Investment Advisers Act of 1940 Pass/Fail

Minimum Five (5) Years Experience Providing Investment Advisory Services to Public Employee Retirement Systems Pass/Fail

Company Overview, Qualifications and Personnel Experience (Sections 1 – 2) 15%

Methodology and Approach (Section 3) 35%

Phase II

Prior Experience / References (Section 4) 15%

6 Pricing 20%

7 Interviews 15%

Proposers shall be treated fairly and equally with respect to any opportunity for discussions. Inasmuch as NTMWD may not request best and final offers, Proposers are strongly urged to provide competitive pricing since revisions may not be permitted after submissions and before the award of the contract.

END OF EVALUATION CRITERIA

Scope of Work

Investment Consultant Services

NTMWD Employee Retirement Plan and

Other Post Employment Benefits Trust

1. Background/Introduction The North Texas Municipal Water District (District or NTMWD) seeks proposals for a discretionary investment consultant for its Employee Retirement Plan and Other Post Employment Benefits Trust. The District provides a Retirement Plan for Employees of North Texas Municipal Water District (the Plan), a single employer defined benefit pension plan, for all of its eligible full-time employees. The Retirement Plan Committee, established in 2024, oversees the administration of the Plan and has fiduciary responsibility for investment of trust assets for the exclusive benefit of participants. The Retirement Plan Committee (RPC) has five members – two members are appointed by the District’s Board President and three are District employees appointed by the Executive Director/General Manager of the District. The District has also established an Other Post Employment Benefits Plan (OPEB) Trust for its Retiree Healthcare Plan.

2. Definitions

Plan – NTMWD’s Employee Retirement Plan Committee or RPC – the Retirement Plan Committee is the governing body of the NTWMD Retirement Plan OPEB or OPEB Trust – Other Post Employment Benefits Trust established to provide healthcare benefits to retired employees of NTMWD and their eligible spouses up to age 65

3. Objective

The RPC recently adopted a new Investment Policy Statement (IPS) and now desires to implement the new policy with the assistance and guidance of a qualified investment consultant. Both Plans’ investment objectives are to achieve the long-term return necessary to meet actuarial assumed rates of return while managing volatility, liquidity, and risk consistent with the Investment Policy Statement (IPS) and applicable laws/regulations. The Investment Policy Statement can be viewed online at: https://ntmwd.com/DocumentCenter/View/3592/Investment- Policy-Statement-PDF.

4. Current Environment

Effective May 1, 1990, NTMWD provides a Retirement Plan for Employees of North Texas Municipal Water District (the Plan), a single employer defined benefit pension plan, for all eligible full-time employees. Benefits provided by the Plan include retirement, disability and preretirement death benefits. The benefit formula provides for a 10-year certain and continuous annuity.

https://ntmwd.com/DocumentCenter/View/3592/Investment-Policy-Statement-PDF https://ntmwd.com/DocumentCenter/View/3592/Investment-Policy-Statement-PDF

NTMWD currently contracts with two (2) firms to manage the Plan’s investments.

The current investments consist of various mutual funds. As of December 31, 2025, the Retirement Plan assets were valued at approximately $180 million. The OPEB Trust asset values were $14 million as of December 31, 2025.

Monthly benefits are paid to retirees and beneficiaries through a contract with Aetna. The District’s and employee contributions are sent to Aetna and the investment managers monthly. The District contributes periodically to the OPEB Trust.

The District’s actuaries currently use an assumed rate of return on Plan and OPEB assets of 7.25%.

5. Scope and Deliverables

The scope of this engagement is to provide discretionary investment consultant services to the Plan and the OPEB Trust.

a. Investment Policy & Objectives – Assist with the development, implementation, and periodic review of the Investment Policy Statement.

Maintain a thorough understanding of the Plan’s investment objectives, goals, and policies. Confer with District’s actuaries as needed. Review and discuss draft or proposed investment policies with NTMWD staff and deliver written opinions and recommendations to be included in the RPC meeting materials.

b. Fiduciary Responsibility under the Contract - fiduciary obligations shall include, but not be limited to, the fiduciary duties of loyalty and performance solely in the interest of and the benefit for the Plan and OPEB Trust. The Consultant’s guidance must be free from conflicts of interest and aligned with the RPC’s and NTMWD’s legal, policy and ethical obligations.

c. Asset Allocation – Conduct studies and provide recommendations to ensure alignment with the RPC’s goals and risk tolerance. Provide periodic reports to the RPC on asset allocation.

d. Manager Search and Selection – Lead the due diligence, selection, and appointment of investment managers within the approved framework, including preparation of search materials, recommendations, and ongoing oversight of appointed managers.

e. Performance Standards – Develop standards for and monitor performance of the investment managers.

f. Performance Monitoring & Reporting – Provide monthly asset statements and quarterly performance evaluation reports, including comparisons to benchmarks and peer groups.

g. Fund Diversification – Assist in maintaining an appropriately diversified investment manager structure.

h. Portfolio Implementation & Risk Management - Execute approved investment decisions, including rebalancing, manager changes, and tactical adjustments, and provide ongoing monitoring of portfolio-level risks to ensure alignment with the RPC’s objectives and risk parameters. Provide periodic reports to the RPC on asset allocation.

i. Meeting Attendance – Make best efforts to attend all RPC meetings in person or virtually during which investment-related matters will be discussed, presented, or considered. It is anticipated that Consultant will need to attend quarterly. Consultant will provide their meeting materials at least 1 week before an RPC meeting. In addition to meeting attendance consultant will communicate on an “as needed basis” particularly for urgent issues or major investment changes. From time to time, the District may require the Consultant’s attendance in person or virtually at one of the monthly Board meeting or Board Committee meetings. It is estimated that this may be necessary one (1) time each year. Board meetings are held at the administrative offices of the District, located at 501 E. Brown Street, Wylie, Texas or virtually, at the discretion of the District.

j. Advice and Guidance to NTMWD Staff and RPC Members. Confer with staff and the RPC on an as needed basis to address questions or review investment materials to assist in understanding matters under consideration and to highlight items, principles and concepts RPC members should be aware of and understand.

Such consultation may include training, education, or assisting with NTMWD new RPC member orientation, on investment matters relevant to the member’s duties.

k. Registration - maintain registration as an investment advisor under the Advisers Act. Consultant will notify the Chair of the RPC of any changes in a timely manner.

l. Data Security - safeguard all Plan and OPEB Trust data and comply with confidentiality policies and information security requirements. Consultant will disclose AI usage.

m. General Consulting Services – Provide related services as requested such as custodial search, fee studies, and educational presentations.

6. Minimum Qualifications

a. At least five (5) years of experience providing investment advisory services to public employee retirement systems

b. Proposing firm must currently be registered as an investment advisor under the Investment Advisers Act of 1940.

c. Investment consultant must agree to act as a fiduciary to both Plans.

7. Change Management – Consultant to Consultant Transition Plan

As part of contract closeout, Consultant shall provide the items identified below.

Consultant shall provide the items within 15days of formal notification by the District of its intent to terminate the contract.

a. Provide full and timely access to all relevant Plan data, documents, reports, investment records, and related materials necessary for the uninterrupted continuation of pension consulting services.

b. Facilitate the secure transfer of electronic files and physical documents, including but not limited to: historical performance data, asset allocation and liability reports, manager contracts, fee schedules, and correspondence.

c. Cooperate fully with the incoming consultant and District staff to answer reasonable questions and support the knowledge transfer process, including participation in joint transition meetings as requested.

d. Ensure that all data provided is complete, accurate, and delivered in a usable format consistent with industry standards to minimize disruption or delays.

e. Maintain confidentiality and data security protocols throughout the transfer process in accordance with applicable laws and contract requirements.

f. Failure to comply with this requirement may result in penalties or other remedies as specified in the contract.

SPECIAL PROVISIONS

1 NTMWD’S RIGHT TO INSPECT AND AUDIT

1.1 The Consultant (and Consultant’s suppliers, vendors, subcontractors, insurance agents and other agents) shall maintain and NTMWD shall have the right to examine records, documents, books, accounting procedures and practice and any other supporting evidence deemed necessary by NTMWD to substantiate compliance with the terms of this Contract, including Change Orders. Such right of examinations shall include reasonable access to and cooperation by all Consultant personnel who have worked on or have knowledge related to the performance of this Contract. The Consultant shall provide all records and retrieval requested, within seven (7) calendar days.

2 TERM

2.1 The initial term of this agreement shall commence on the date of the last signatory and shall be for a period of five (5) years. The agreement will automatically renew under the same pricing, terms, and conditions for five (5) additional one-year periods unless NTMWD provides Contractor with written notice of its intent to terminate the agreement at least sixty (60) days prior to the expiration of the current term. If said notice is given by NTMWD, the agreement shall terminate at the conclusion of the current one-year term. In no event shall the entire term of this agreement exceed ten (10) years.

2.2 Prices shall remain firm for the duration of the initial contract period. Thereafter, price changes are subject to the price adjustment provisions of this Contract.

2.3 NTMWD reserves the option to temporarily extend this service for an additional ninety (90) days from its expiration date for any reason.

3 INSURANCE PROVISIONS

3.1 DEFINITIONS FOR INSURANCE PROVISIONS

• “We”, “us”, or “our” means the North Texas Municipal Water District.

• “You” or “your” means the vendor, contractor, tenant, consultant, engineer, architect, and their agents, servants, employees, or other party to a contract with us.

• “Contract” means the contract, purchase order, Invitation for Bid, or similar memorandum or agreement.

• For purpose of defining Additional Insured and Waiver of Subrogation, the term “North Texas Municipal

Water District (the District) shall also mean the elected officials, Board, officers, employees, agents and representatives of the District and the Cities.

3.2 GENERAL REQUIREMENTS

• You shall, at your own expense, maintain in effect not less than the following coverages and limits of insurance. If your coverage fails to comply with these requirements, you agree to amend, supplement or endorse the existing coverage to comply, at no additional cost to us, and to maintain such insurance through the end of the contract, warranty period, or other specified time period, whichever is longer. ANY deviation from the requirements outlined below requires the prior written approval of the District.

• All required policies must be written through a company approved to transact that class of insurance in the State of Texas, with a minimum rating of ‘A -‘,and ‘VII’ by A. M. Best Company. If the rating of any insurer should fall below this standard, you shall cause the policy to be replaced promptly by an acceptable insurer.

• All required policies, except policies for workers’ compensation and professional liability, shall designate the below mentioned parties as “Additional Insureds”.

“North Texas Municipal Water District”

• All required policies shall waive the insurer’s right of recovery or subrogation against the District.

• If any policy is in excess of self-insured retention (SIR), the amount of such SIR must be clearly identified. We reserve the right to reject any SIR exceeding $100,000.

• All required policies must be primary with respect to coverage provided for the District.

• All required policies must be non-contributory with other coverage or self-insurance available to the

District.

• All required Liability policies, except Professional, must be written on an “Occurrence Form.” Neither “Modified Occurrence” nor “Claims-Made” policies are acceptable, and the Contractor will be in contractual default if your insurance is “Modified Occurrence” or “Claims Made.” If the Professional Liability policy is Claims- Made, the Retroactive Date must be on or before the contract date or the date of the Contractor’s first professional service to the District related to our contract.

• All required liability policies must cover cross-suits between insureds.

• All required liability policies must contain a “severability of interests” provision.

3.3 REQUIRED COVERAGE AND LIMITS

Workers’ Compensation............................................................................ Texas Statutory Coverage Employer’s Liability Insurance ..................................................................... $500,000 Each Accident Each Disease, Each Employee…………………………………...$500,000 Each Disease Policy Limit…………………………………………$500,000

• All employees, leased or co-employees, independent contractors, and employees of subcontractors and vendors, occupants of the building as tenants, sub-tenants or sub sub-tenants, performing work for the District, or entering upon the District’s premises, must be covered by Texas Workers’ Compensation.

• If Contractor is a sole proprietorship without employees and which will not be using any subcontractor(s) in the performance of the Contract Work, it may substitute the following for workers compensation insurance: The Contractor must provide the District with a Hold Harmless and Indemnification Agreement in the form attached in the “Proposal Response Forms” section.

Commercial General Liability (CGL)

Limit Any One Occurrence ................................................................................................ $1,000,000 Damage to Rented Premises ............................................................................................... $100,000 Personal and Advertising Injury ........................................................................................ $1,000,000 Policy Aggregate ................................................................................................................ $2,000,000 Products and Completed Operations Aggregate .............................................................. $2,000,000

• Aggregate limits of General Contractors or construction contracts General Liability policies shall be

“per project” or “per location,” as appropriate. If any aggregate limit is reduced by 25% or more by reserved and/or paid claims, the contractor must notify the District and promptly reinstate the required aggregates.

Business Automobile Liability

Combined Single Limit for Each Accident… ....................................................................... $500,000

• Coverage must apply to all vehicles (owned, non-owned, or hired) operating on our site/location, or transporting our people or property off our site, except vehicles operated by you or your employee(s) commuting in personal vehicles to our parking facilities, in which case you must only carry Employer’s Non-Ownership coverage, (same limit), and ensure that such vehicle(s) are personally insured.

Professional Liability Insurance ........................................................................................... $1,000,000

• Your policy must cover the type of professional service you will provide in fulfilling your contract with the District including covering data breaches, infringement of intellectual property, trademark or copyright, invasion of privacy, information theft, damage to or destruction of electronic data, extortion and network security.

• If the Professional Liability policy is Claims-Made, the Retroactive Date must be on or before the contract date or the date of the contractor’s first professional service to the District.

3.4 ADDITIONAL REQUIREMENTS

• Should this Contract require the use of Subcontractors, it will be the sole responsibility of the General

Contractor to either endeavor to require Subcontractors to provide and maintain the insurance limits and coverages required herein or provide said insurance coverage for the subcontractor by designating the Subcontractor as an additional insured either by a blanket additional insured endorsement, or by specific endorsement.

• The General Contractor shall verify that such Subcontractors are in compliance with all contractual insurance requirements.

• The General Contractor shall assume all liability for those Subcontractors who do not meet the insurance requirements.

3.5 CERTIFICATE OF INSURANCE

Upon execution of the contract or prior to commencement of work, whichever is first, you shall provide the Procurement Manager with a current insurance certificate by emailing your certificate to dleong@ntmwd.com with your contract number and business name in the subject line. Please copy the Procurement Manager on email submissions. You shall cause your insurance data to be kept current with the District for the period of time you are liable for your product or work, but not less than through the warranty period of our contract.

You further agree, upon our oral or written request, to furnish copies of certificates of insurance, certified by an authorized representative of the insurer(s), within ten (10) days of request.

You shall provide the District at least thirty (30) days prior to cancellation, except ten (10) days for non-payment of premium of cancellation of any required coverage. You shall then arrange acceptable alternate coverage to comply with our requirements and provide an updated insurance certificate.

No policy submitted shall be subject to limitations, conditions or restrictions that are inconsistent with the intent of the Insurance Requirements to be fulfilled by you. The District's decision thereon shall be final.

Approval, disapproval or failure to act by the District regarding any insurance obtained by you shall not relieve you of full responsibility or liability for damages and accidents as set forth herein. Neither shall the bankruptcy, insolvency or denial of liability by the insurance company exonerate you from liability.

No special payment, except when separate line item is provided, shall be made by the District for any insurance that the Contractor may be required to carry; all are included in the Contract amount and the Contract unit prices.

END OF SPECIAL PROVISIONS

GENERAL TERMS AND CONDITIONS

1 ASSIGNMENT

The Consultant is prohibited from assigning, transferring, conveying, subletting, or otherwise disposing of the Contract or its rights, title, or interests therein, or its power to execute such agreement to any other person, company, or corporation without the prior approval, in writing, by the North Texas Municipal Water District (NTMWD), whose approval shall be discretionary. Such consent shall not relieve the assignor of liability in the event of default by its assignee.

2 CHANGES IN CONTRACT

NTMWD reserves the right to make changes in the scope of the Work as may be considered necessary or desirable, and Consultant shall perform the Work as altered, whether increased or decreased, for a new Contract price equitably adjusted to reflect the changes. No allowance will be made for anticipated profits where the scope of the Work has been diminished. All Contract changes must be executed in writing.

Payment will be made only for actual quantities of products delivered or Work performed.

3 COMPLIANCE WITH LAWS

Consultant shall comply with all applicable Federal, State and Local laws, statutes and ordinances, and with all applicable regulations or orders of any governmental department, NTMWD, bureau or agency, including NTMWD.

4 CONFIDENTIAL OR PROPRIETARY INFORMATION

Any portion of the Consultant’s Proposal that is marked confidential or proprietary, or clearly states contains trade secrets of the Consultant may not necessarily guarantee the non-release of the information under the Public Information Act or as otherwise required by law. If access is requested to information in the Consultant’s Proposal so marked, NTMWD shall review the issues thoroughly and, if justified, shall request an opinion by the Attorney General's office prior to releasing any information requested under the Public Information Act.

5 FEDERAL FAIR LABOR STANDARDS ACT (FEDERAL MINIMUM WAGE):

All contracts and subcontracts that result from this RFP incorporate by reference the provisions of 29 CFR part 201, the Federal Labor Standards Act (FLSA), with the same force and effect as if given in full text.

The FLSA sets minimum wage, overtime pay, recordkeeping, and child labor standards for full and part time workers.

Consultant has full responsibility to monitor compliance to the referenced statute or regulation. Consultant must address any claims or disputes that arise from this requirement directly with the U.S.