The Oakland County Employees' Retirement System (OCERS) and Oakland County Voluntary Employees' Beneficiary Association (VEBA) are soliciting proposals for Defined Benefit Plan Investment Consulting Services through a Request for Proposal (RFP) issued on September 2, 2025. The procurement seeks a qualified investment consulting firm to serve as a fiduciary and provide objective third-party investment advice for two distinct funds: OCERS with approximately $665 million in assets and VEBA with approximately $1.6 billion in assets. The selected consultant will be responsible for comprehensive investment consulting services, including asset allocation recommendations, performance evaluation, manager selection and monitoring, and ensuring compliance with Michigan Public Act 314. Key deliverables include monthly and quarterly reporting on investment performance and market conditions, conducting due diligence on investment managers, and providing strategic guidance to the Retirement Board. The proposal deadline is October 10, 2025 at 3:00 p.m., with sealed proposals to be submitted to Carly Webster, Retirement Administrator. The contract term will span five years, commencing on January 1, 2026, with potential for renewal or renegotiation.
While no specific set-aside designations or restrictions on respondents were explicitly detailed in the provided documentation, the RFP implies a need for highly specialized investment consulting expertise. The funds currently maintain a diverse investment portfolio spanning domestic and international equities, fixed income, real estate, and alternative investments with specific target allocations for each asset class. Though precise award values were not specified, the combined asset base of approximately $2.265 billion suggests a substantial and potentially lucrative contract opportunity for the selected investment consulting firm. The procurement appears focused on securing a consultant with demonstrated capabilities in managing complex, multi-asset investment portfolios for public sector retirement systems. Potential respondents should have extensive experience in fiduciary investment consulting, deep understanding of public sector retirement fund management, and the ability to provide sophisticated, data-driven investment strategy recommendations.
Generated 9/2/25, 4:07 PM