Investment Consulting Services for OPEB Trust Fund
Closed State & local contract opportunity
- Solicitation number
- 26-36HR
- State
- Florida
- Responses due
Opportunity facts
- Jurisdictions
- NIGP codes
- Point of contact
-
- Helen Reed helen.reed@sarasotafl.gov (941) 263-6443
Opportunity details come from procurement.opengov.com. Updated .
About this opportunity
The City of Sarasota, Florida is requesting proposals for investment consulting services for its OPEB Trust Fund under RFP #26-36HR, with proposals due August 19, 2026 at 2:30 PM and questions due July 24, 2026 at 4:00 PM.
The City seeks investment management services for a trust fund that provides health, prescription, dental, and life insurance benefits for retired City employees and eligible dependents. The OPEB Trust Fund, established October 1, 2006, currently holds approximately $60 million with anticipated annual outflows of approximately $1,000,000. The City's objective is to maximize investment returns within defined risk parameters outlined in the attached Investment Policy Statement (Exhibit A). Respondents must provide asset-based fee structures expressed in basis points with defined breakpoints for portfolio value thresholds and clearly describe their fee-calculation methodology.
The contract term is one year with two optional one-year renewals for a total of three years. All awarded contractors must maintain Professional Liability Insurance in a minimum amount of $1 million and comply with Florida statutory requirements including e-verification, public records laws, and anti-discrimination provisions. Proposals must be submitted electronically through the City's online solicitation portal as a consolidated PDF file limited to 150 single-sided pages. Pricing must be submitted on forms provided by the City within the electronic system.
The City reserves the right to award to one or multiple proposers at its discretion and to negotiate adjustments to proposal price if the lowest responsible and responsive proposal exceeds available funds. The procurement contact is Helen Reed at helen.reed@sarasotafl.gov.
Opportunity text
The City of Sarasota (referred to as the "City") seeks investment management services (See section V. for services requested) related to its employee benefits trust which provides funding for health, prescription, dental, and life insurance benefits for retired employees of the City and their eligible dependents. Collectively, these benefits are commonly referred to as "other post-employment benefits" ("OPEB"). On 10/01/06, the City established an OPEB Trust Fund to begin advance funding the City's liability for post-retirement benefits cost. The current balance of the custody account is approximately $60 million, with anticipated annual outflows of approximately $1,000,000, subject to periodic assessment. The City's goal is to maximize returns within the City's risk parameters. Investment, performance and risk guidelines associated with this mandate are included in the Investment Policy attached and made a part of hereto as Exhibit A .
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