Police Pension Board Investment Consultant

The City of Wheat Ridge, Colorado is seeking a Police Pension Board Investment Consultant through a competitive Request for Proposals (RFP) process for its Money Purchase Plan for Designated Police Department Employees. The selected consultant will be responsible for comprehensive investment consulting services including analyzing the current plan structure, designing optimal administrative and investment strategies, reviewing investment policies, implementing policy recommendations, managing and supervising the retirement plan, and assisting with related service RFPs. The contract term is one year with the option to renew for four additional one-year periods. Proposals are due by August 12, 2025, at 2:00 pm Mountain Time. The evaluation process will assess proposals based on specific weighted criteria: qualifications and experience (20%), services and methodology (20%), responsiveness and timeliness (20%), history and stability (15%), and fee schedule (25%). Bidders must complete a Reference Authorization Form as part of their submission, which requires providing three professional references to verify past performance and expertise.

The City encourages participation from disadvantaged business enterprises and operates on a best value procurement model that considers proposer qualifications, price, products, service capabilities, and alignment with city policies and budget. While specific pricing details are not explicitly stated, fees will be negotiated with the highest-ranked firm following an interview process. The city is exempt from sales and use taxes. A sample agreement indicates that invoicing will occur monthly, with payments processed via Electronic Funds Transfer, and price escalations limited to one adjustment per contract term not exceeding 10% of the original cost. Contractors must maintain specified insurance coverage, including workers' compensation, employer liability, commercial general liability, and comprehensive automotive liability. The procurement is designed to be flexible, with potential for month-to-month continuation or rebidding if the selected consultant's performance does not meet the city's standards.