Pension Fund Consulting Services

The Dallas Fort Worth International Airport Board is seeking a pension fund consulting firm to provide comprehensive fiduciary and investment advisory services for its defined benefit and defined contribution retirement plans. The solicitation (PA1858) covers a five-year contract term with no renewal options, supporting approximately 3,000 active and retired members across two defined benefit plans and 900 participants in defined contribution plans. The selected consultant will be required to attend four to six Investment Committee meetings annually, provide policy development, asset allocation strategy, investment manager due diligence, performance measurement, alternative asset support, risk management, and compliance reporting. Evaluation criteria will allocate 100 total points across four categories: Technical/Compliance (40 points), Management (30 points), Implementation (10 points), and Price (20 points). The solicitation timeline includes a pre-proposal conference on 09/03/2025, question submission deadline of 09/10/2025, proposal answers posted on 09/17/2025, and final proposal due date of 09/24/2025, with anticipated contract award in January 2026. Minimum qualifications include current consulting experience with large and mid-sized tax-exempt clients, lead consultant experience, and investment advisor registration.

The procurement has a zero percent (0%) Minority/Women Business Enterprise (M/WBE) participation goal, though the airport still encourages business diversity. Proposing firms must complete various diversity and business disclosure forms, including a Business Disclosure Form detailing ownership information and a Workforce Composition Form. The airport requires M/WBE firms to be certified by recognized agencies and have a physical business location in the market area (Dallas, Tarrant, Collin, and Denton counties). While no specific incumbent is mentioned, the current portfolio is valued at approximately $949,215,434 across various asset classes including domestic and international equity, fixed income, real estate, infrastructure, and private equity. The actuarial reports indicate the defined benefit plans have an unfunded actuarial accrued liability of $59.9 million with a funded ratio of 83.2%, and the actuarially determined contribution for the fiscal year is $13,788,242. Proposers will be required to submit quarterly invoices with lump sum amounts based on a pricing sheet, with no additional fees permitted for travel or administrative expenses.