Investment Consultant Services
Closed State & local contract opportunity
- Solicitation number
- 2024-RFP-0054
- State
- California
- Responses due
Opportunity facts
- Jurisdiction
- NIGP codes
- 946 Financial Services
- 94633 Collection Services, Financial Debt
- 94648 Financial Advisor
- 94649 Financial Services (Not Otherwise Classified)
- 94656 Investment Management Services
- 949 Financial Services, Higher Education
- 94960 Return Of Loan Funds, Financial Aid Only
- 95839 Financial Management Services
- Point of contact
-
- Antonio Watson awatson@cityofpasadena.net (626) 744-8382
Opportunity details come from procurement.opengov.com. Updated .
About this opportunity
The City of Pasadena Fire and Police Retirement System (PFPRS) is seeking a general investment consultant through a Request for Proposals (RFP) issued on January 17, 2024, with proposals due by February 6, 2024. The procurement aims to secure comprehensive investment consulting services for a closed, single-employer defined benefit pension plan serving approximately 178 retired members. Required services include conducting an asset/liability study, providing investment policy recommendations, performing performance measurement and evaluation, conducting manager searches, delivering board training, and offering additional fiduciary support. Proposers must meet specific qualifications, including having at least one institutional client with a portfolio over $1 billion, being a registered investment advisor, and employing consultants with a minimum of three years of institutional investment consulting experience. The evaluation process will use a weighted scoring system covering cost (20%), local and small business preferences (10%), minimum qualifications (30%), experience (20%), methodology (5%), and personnel qualifications (15%).
The RFP does not explicitly outline specific set-aside designations for disadvantaged enterprises, though the scoring includes provisions for local and small business preferences. The system currently manages approximately $99.8 million in total assets as of December 31, 2023, with the initial contract term set for three years and potential for two additional one-year extensions subject to City Manager approval. Proposers must submit both technical and price proposals electronically through the City's eProcurement Portal and complete multiple mandatory forms, including conflict of interest disclosures, disqualification documentation, and a Taxpayer Protection Amendment disclosure. The procurement requires comprehensive documentation of organizational structure, key personnel, and potential sub-consultants. While no incumbent vendor is specifically mentioned, the RFP indicates a thorough selection process designed to identify the most qualified investment consulting firm to support the retirement system's fiduciary responsibilities.
Opportunity text
The Pasadena Fire and Police Retirement System ("PFPRS" or "System") is a defined benefit Plan governed by a Fire & Police Retirement Board ("Board") under the provisions of the City of Pasadena ("City") Charter. Its operations have been reported as a Pension Trust Fund in the City's financial statements. The System is a closed, single employer, defined benefit pension plan that continues to provide retirement, disability and survivor benefits for eligible sworn safety employees of the City. The System serves the City's sworn employees hired prior to July 1, 1977, except those who elected to transfer to the California Public Employees Retirement System ("CalPERS") either when the System was closed to new members, or in June 2004. The System is governed by a Board of five trustees; one member of the City Council, two Pasadena residents appointed by the City Council, and two members of the Retirement System elected under the supervision of the Retirement System. Board members are elected to terms of four years with no restriction on reappointment. Trustees receive no compensation.
The Pasadena Fire & Police Retirement System provides benefit programs for approximately 178 retired members and beneficiaries. These programs are administered by the Fire & Police Retirement Board, including, but not limited to, payment of retirement benefits, investment of fund assets, and such other responsibilities traditionally performed by the fiduciary of a retirement system. The Board is obligated under California law to exercise its responsibilities for the sole and exclusive benefit of the members and beneficiaries of the Retirement System.
The Board of the City of Pasadena Fire & Police Retirement System is seeking proposals to provide general investment consulting services to the Pasadena Fire & Police Retirement System. This Request for Proposal (RFP) is to solicit firms with experience in providing a variety of general investment consulting services to public pension plans.
Files
On GovTribe
Work this opportunity
- Track it in your pipeline
- Similar opportunities
- Ask GovTribe AI about this opportunity