Sound Transit Biddingo #RP 0060-21

Sound Transit Retirement Plan Investment Advisory Services Solicitation

Sound Transit, the regional transit authority for King, Pierce, and Snohomish counties in Washington, is procuring independent investment advisory services for its defined contribution retirement plans (401(a) and 457(b)). - Government Buyer: - Sound Transit (Central Puget Sound Regional Transit Authority) - Products/Services Requested: - Retirement Plan Investment Advisory Services for 401(a) and 457(b) plans - Scope includes: - Benchmark analysis of current plans and investment options - Recommendations for plan enhancements and optimization - Ongoing plan management, including provider liaison and recordkeeping facilitation - Quarterly and annual investment performance reporting - Fiduciary education and compliance support - Support for plan/fund transitions - Investment options referenced include a broad range of mutual funds and target-date funds: - Putnam Stable Value, Vanguard Federal Money Market, PIMCO Total Return Instl., Vanguard Total Bond Market Index, Vanguard Inflation Protected Securities - T. Rowe Price Retirement series (Balanced, 2010–2060), DFA Large Cap Value, Vanguard 500 Index, Vanguard FTSE Social Index, Fidelity Contrafund, Vanguard Mid Cap Index, TimesSquare Mid Cap Growth, Vanguard Small Cap Index, DFA US Small Cap, Vanguard International Value, Vanguard Developed Markets Index, American Funds EuroPacific Growth, Vanguard Real Estate Index - OEMs and Vendors Mentioned: - Putnam Investments - Vanguard - PIMCO - T. Rowe Price - DFA (Dimensional Fund Advisors) - Fidelity Investments - TimesSquare Capital Management - American Funds (Capital Group) - Unique/Notable Requirements: - Advisor must provide both on-site and remote consulting - Services must include fiduciary education and compliance with all applicable laws and regulations - The plans collectively manage over $375 million in assets - Contract term is five years with two optional one-year extensions - Incumbent provider prior to this solicitation was Hyas Group LLC

Description

Sound Transit is soliciting proposals from independent investment advisory firms to provide financial consulting services for its retirement plans. The scope includes analysis, recommendations, and ongoing consulting services related to the management and optimization of defined contribution retirement plans. The contract term is five years with an option for two additional one-year extensions. Proposals were due by August 2, 2021.

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