Other Post-Employment Benefits Trust Administration Services

The City of Austin is requesting proposals for Other Post-Employment Benefits (OPEB) Trust Fund administration services under RFP 7400 SMW3040, with proposals due September 3, 2026 at 2:00 PM CST. The City offers optional local business preference (up to 10 points) and small business preference (up to 10 points), with no mandatory set-asides or minority/women-owned business goals.

The scope encompasses fiduciary, custodial, administrative, investment support, reporting, compliance, and participant services for the OPEB Trust in accordance with federal and Texas law, Governmental Accounting Standards Board (GASB) requirements, trust documents, and investment policies. The contractor must hold professional liability insurance with a minimum limit of $10 million per occurrence; commercial crime insurance of $10 million per claim; cyber liability insurance of $5 million; and fiduciary liability insurance of $5 million per claim.

Evaluation criteria carry the following weights: financial stability (pass/fail), company qualifications and specialized experience (10 points), quality and specialized experience of key personnel (15 points), proposed methodology and plan of action (45 points), and price (10 points). Pricing will be evaluated on a competitive basis, with offerors required to provide percentage rates charged annually based on fund management breakdowns ($1–$10 million, $10–$15 million, $15–$50 million, and $50 million and above) and a schedule of hourly billing rates or retainer fees.

The contract commences upon execution and continues until all obligations are performed, with the City retaining an option to extend beyond the initial term. All offers remain valid for 180 calendar days following the RFP closing date unless a longer acceptance period is offered. Questions are due August 21, 2026 at 2:00 PM CST. Offer opening is scheduled for September 3, 2026 at 3:00 PM CST. No pre-offer conference is required.