RFP 26-0106 Deferred Compensation Consultant Services

The City of Goodyear, Arizona is issuing RFP 26-0106 seeking qualified firms to provide deferred compensation consulting services for the city's employee benefit plans. The scope of work includes ongoing consulting and administration for the city's 457(b) and 401(a) deferred compensation plans, administration of the Retirement Health Savings (RHS) plan, and related financial consulting services. Key deliverables and responsibilities include attending a minimum of one annual meeting of the City's Deferred Compensation & Savings Investment Committee, providing bi-annual investment performance reviews, conducting fund searches as needed, developing and maintaining an investment policy, advising on plan design and operations, benchmarking plan services and fees, and providing training to the city's committee and staff on fiduciary duties and regulatory developments. Proposals will be evaluated on four criteria: firm experience and expertise (400 points), staff assignments and experience (300 points), method of approach and RFP compliance (150 points), and pricing and cost consideration (150 points). The deadline for submitting inquiries is March 16, 2026, at 3:00 PM Arizona Time, and proposals must be submitted through the City's Bonfire procurement portal by March 25, 2026, at 3:00 PM Arizona Time, with the solicitation opening to occur via Microsoft Teams on that same date. The initial contract term is two years from the date of award, with options to renew for three additional two-year periods at the city's discretion, not to exceed eight years total.

The RFP does not specify any set-aside designations or restrictions on the types of organizations that can respond. Contractors must obtain and maintain a Business Registration Permit with the City of Goodyear and comply with all applicable Arizona and federal laws, including E-Verify requirements and evidence of lawful presence in the United States. Insurance requirements include Commercial General Liability ($1,000,000 per occurrence/$2,000,000 aggregate), Automobile Liability ($1,000,000 combined single limit), Workers' Compensation, Umbrella/Excess Liability ($2,000,000 per occurrence), and Professional Liability/Errors & Omissions ($1,000,000 each claim/$2,000,000 annual aggregate, maintained for three years after contract completion). Offerors must submit fixed prices for general plan consulting, contract administrative services, investment policy and fund searches (one-time services), and investment review services, broken out by fiscal year for the eight-year contract period, as well as hourly rates for additional services beyond the scope of work. No incumbent vendor, current contractor, or budget range is identified in the available procurement documents.