Hillsborough County Bonfire #SS-26-00255

Sole Source Consulting Services for Hillsborough County 457b Retirement Plans

Hillsborough County is pursuing a sole source contract for consulting services supporting its 457b deferred compensation retirement plans. - Government Buyer: - Hillsborough County - OEMs and Vendors: - OneDigital Investment Advisors LLC (sole source vendor) - Services Requested: - Comprehensive retirement plan advisory and fiduciary support - Investment advisory and management - Development and maintenance of Investment Policy Statement (IPS) - Ongoing performance monitoring and reporting - Benchmarking and fee analysis - Plan design and governance guidance - Fiduciary education for County staff and committees - Participant financial education, enrollment support, and retirement readiness counseling (via OneDigital's FE&G program) - Unique Requirements: - Support for multi-recordkeeper environment and large, diverse participant base - Option for discretionary or non-discretionary fiduciary role - Sole source justification based on OneDigital's unique combination of services and expertise - County will consider challenges from other vendors able to provide all identified services - Place of Performance: - Hillsborough County government offices (primary location for service delivery) - Period of Performance: - Five-year contract term with potential for extension and scope adjustment

Description

Hillsborough County intends to recommend the award of a sole source procurement to OneDigital Investment Advisors LLC for consulting services consisting of comprehensive retirement plan advisory and fiduciary support services to assist Hillsborough County in the oversight, management, and optimization of its deferred compensation plans for 5 years at an estimated cost of $237,500.00. The services include investment advisory and management, development and maintenance of an Investment Policy Statement, performance monitoring, benchmarking, fee analysis, plan design guidance, fiduciary education, and participant financial education. The procurement is made under a sole source basis due to the unique professional services offered by OneDigital Investment Advisors LLC. Challenges to the intended award must be submitted by the close date, May 6th, 2026.

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