Request for Proposals (RFP) 2021 – Employee Pension

Investment, Consulting, Custodial, Administrative and Actuarial Services 2021
RFP Number: 2021-1P
Start Date:
08/24/2021
Close Date:
09/13/2021

Download Forms Below:

Request for Proposal Notice

Request for Proposal & Application ,Standard Disclosure, Definitions for Disclosure Form & Applicant Status Notification Form

Request for Proposal Financial Information Worksheet

DESCRIPTION OF SERVICES DESIRED:

Applicants that respond to this RFP must be able to provide a complete package of pension services that will include:

  1. A comprehensive menu of pension administrative services
  2. Pension policy design, re-design, or adjustments (as necessary)
  3. Actuarial services for a Defined Contribution Pension Plan
  4. Comprehensive investment services and investment strategy and provide secure possession, investment placement and reporting of pension assets
  5. Additional administrative or advisory services, relevant to a Defined Contribution Pension Plan
  6. Administration – as requested, but not necessarily part of the main menu of Administrative / Actuarial services
  7. Offer periodic meetings with the municipal leadership to review pension plan

MINIMUM REQUIREMENTS TO RESPOND:

Applicants that respond to this RFP must be able meet or exceed the following minimum criteria in order to be considered for the resulting award of professional services contract:

  • 5 or more Pennsylvania municipal clients under contract for pension services as described above
  • $10 million or more in Pennsylvania municipal client assets under direct management
  • Ability to provide a clearly functional services platform that addresses all three major components of municipal pensions – Actuarial, Administrative, and Investment.
  • 5 or more years of experience providing similar pension services to PA municipal government entities.
  • The applicant maintains an errors and omissions insurance policy and/or fiduciary liability insurance policy providing an appropriate amount of coverage for negligent acts or omissions and/or breaches of fiduciary obligations and duties, and that such coverage will be applicable to the firm’s actions under any resulting Investment Consulting Agreement with the Borough. Proposals must specify the carrier and the coverage limits. The Borough has the option to require high policy limits if it feels the limits in existence are not sufficient.
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