RFP 260000002293 - Bidder Question and Answer.xlsx
XLSX spreadsheet 12 KB Posted
- Attached to
- Investment Consulting Services RFP
- Solicitation number
- RFP 171 260000002293 2
- Issued by
- Michigan
About this file
This file is a Bidder Question and Answer document for RFP 260000002293 issued by the State of Michigan for Investment Consulting Services. The RFP seeks investment consulting support across multiple state funds, including Defined Benefit Retirement Plans, Defined Contribution Retirement Plans, Michigan Education Savings 529 Plans, and Other Major Funds such as the Common Cash Fund, Michigan Education Trust, Lottery, Mackinac Bridge Authority, Natural Resources Trust Fund, and Veterans Trust Fund. The scope of work remains substantially similar to the prior investment consulting contract with no major changes. Contractors are required to participate in monthly scheduled meetings with the State Program Manager, the majority of which will be conducted virtually, and attend up to four annual SMIB (State Managed Investment Board) meetings as requested. These four annual SMIB meetings may coincide with monthly meetings, though workflows are subject to change. Monthly meeting topics will address duties outlined in the Statement of Work without a predetermined agenda.
Consulting support levels vary by fund type, with Michigan Education Savings 529 Plans requiring as-needed, high-level services focused on program reviews, research, strategy development, and industry trend analysis. All Other Major Funds included in the scope should receive consulting services comparable to those provided for the Defined Benefit and Defined Contribution Retirement Plans. The file does not specify pricing terms, contract duration, set-asides, incumbent contractor information, or funding amounts and sources.
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Other files
| File | Type | Posted |
|---|---|---|
| Standard Contract Terms.docx | DOCX document | |
| Schedule B - Pricing.docx | DOCX document | |
| Schedule C - Insurance Requirements - Standard Four.docx | DOCX document | |
| Confidential Treatment Form.docx | DOCX document | |
| Schedule A - Statement of Work.docx | DOCX document | |
| Schedule E - Data Security Requirements - Hybrid.docx | DOCX document | |
| Schedule D - Service Level Agreement - Services & Commodities.docx | DOCX document | |
| Proposal Instructions.docx | DOCX document | |
| Vendor Questions Worksheet.docx | DOCX document |
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Text version
Sheet1
| Q# | Document & Section | Page # | Bidder Question | States Response |
| 1 | Schedule A - Statement of Work | |||
| 1 | Please identify any material changes to the scope of services, reporting requirements, staffing expectations, or key deliverables since the prior investment consulting contract was awarded. | Similar Statement of Work since prior Contract with no major changes. | ||
| 2 | Schedule A - Statement of Work |
Section 10 13 The RFP indicates that the Contractor will participate in monthly scheduled meetings with the State and attend up to four SMIB meetings annually as requested.
a. Are the monthly meetings typically conducted virtually, in person, or in a hybrid format?
b. Do the monthly meetings follow a standing schedule, and if so, can the State provide the anticipated annual meeting calendar or a recent historical meeting schedule?
| c. Do the four annual SMIB meetings generally coincide with the monthly meetings (e.g., occurring on the same day or in conjunction with the monthly meeting), or should they be assumed to be separate meetings that require additional travel and preparation? | A.) Monthly meetings are determined by the Program Manager, with most of them conducted virtually. B.) No set agenda for monthly meetings. Topics will revolve around duties in the statement of work. C.) The four annual SMIB meetings could be considered the meeting for the month, however workflows are subject to change. | |
| 3 | Schedule A - Statement of Work |
Section 3.1.6
| 4 | Please describe the anticipated level of consulting support related to the Michigan Education Savings 529 Plans, including expected manager searches, reporting, and strategic advisory services. | The anticipated level of consulting support for Michigan Education Savings 529 Plans would be as needed at a very high level. Services could involve a program review, research, strategy, and industry trends. |
| 4 | Schedule A - Statement of Work | |
| 1 | The Background section of the RFP references a number of additional State operating, trust, and special-purpose funds (e.g., Common Cash Fund, Michigan Education Trust, Lottery, Mackinac Bridge Authority, Natural Resources Trust Fund, Veterans Trust Fund, etc.). Please clarify which of these entities are included within the scope of this engagement and identify the consulting services expected for each. | All of the Other Major Funds are included in the scope of the investment consulting services. These funds should be treated similar to the consulting services for the Defined Benefit Retirement Plans and Defined Contribution Retirement Plans. |
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