1-457b Sole Source Letter.pdf
PDF 114 KB Posted
- Attached to
- 457b Consulting Services
- Solicitation number
- SS-26-00255
- Issued by
- Hillsborough County, Florida
About this file
This is a sole source letter of support from OneDigital Investment Advisors LLC to Hillsborough County, Florida, dated April 29, 2026, affirming the County's determination to award a sole source procurement for comprehensive retirement plan consulting and fiduciary services. The procurement covers a five-year contract term and encompasses a full range of advisory services including investment policy development and monitoring, investment manager due diligence, fee benchmarking, risk analysis, compliance support, and ongoing fiduciary oversight tailored to the County's public-sector retirement plans. OneDigital acknowledges that the specialized and professional nature of these services justifies sole source procurement under the County's Procurement Policy, as the services are unique, require specialized expertise and fiduciary qualifications, and competition would not be practical or practicable. The vendor emphasizes that service continuity is critical to maintaining consistent fiduciary oversight, plan governance, and risk management for the County's deferred compensation plans, which support a multi-recordkeeper environment serving a large-scale plan with diverse participant demographics.
The estimated contract value is $237,500.00 over the five-year period. OneDigital's service offering includes investment advisory and management services, development and maintenance of an Investment Policy Statement, ongoing performance monitoring and reporting, fiduciary education to County staff and plan committees, and participant-focused services such as financial education, enrollment support, and retirement readiness counseling through its Financial Education and Guidance (FE&G) program. The vendor affirms its commitment to supporting the County's prudent management and oversight of retirement plans while acknowledging the County's right to negotiate pricing, scope of services, contract terms, and other contractual provisions. This procurement is authorized under Section 3-205(2)(h) of the County's Procurement Policy, which permits sole source awards for professional services that are unique and require special skills or training.
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| File | Type | Posted |
|---|---|---|
| 2-457b Agreement.pdf |
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Text version
11101 Switzer Road, Suite 200 | Overland Park, Kansas 66210 | P: (877) 742-2021 | F: (913) 204-0785 www.OneDigital.com
April 29, 2026
Hillsborough County 601 E. Kennedy Boulevard Tampa, Florida 33602
To whom it may concern:
OneDigital Investment Advisors LLC (“OneDigital”) currently provides retirement plan consulting and investment fiduciary services to Hillsborough County, including independent investment advisory and/or management services in accordance with applicable fiduciary standards. These services include investment policy development and monitoring, investment manager due diligence, fee benchmarking, risk analysis, compliance support, and ongoing fiduciary oversight tailored to public-sector retirement plans.
Accordingly, OneDigital recognizes and supports Hillsborough County’s determination that these circumstances constitute a Sole Source Procurement under the County’s Procurement Policy. This determination is based on the specialized and professional nature of the services, which are unique, require specialized expertise and fiduciary qualifications, and for which securing competition is neither practical nor practicable. Additionally, continuity of services is critical to maintaining consistent fiduciary oversight, plan governance, and risk management for the County’s retirement plans. OneDigital further acknowledges the County’s right to conduct or authorize negotiations regarding pricing, scope of services, contract term, and other contractual provisions in a manner that protects the public interest and preserves the integrity of the County’s procurement process.
OneDigital remains committed to supporting Hillsborough County in the prudent management and oversight of its retirement plans and to providing professional guidance, independent fiduciary expertise, and the analytical tools necessary to promote sound governance, regulatory compliance, and the long-term financial security of plan participants and beneficiaries.
Sincerely, Ron Letaw Vice President, Retirement Plan Consulting
File details come from the government source that posted it. Updated .