San Mateo Opengov #281568

San Mateo County Seeks Investment-Fiduciary Consultant for Retirement Plans

San Mateo County Human Resources Department is seeking an investment and fiduciary consultant to support its defined contribution retirement plans, which manage nearly $1 billion in assets for over 15,000 participants. - Scope of Work: - Provide fiduciary best practices and guidance for five defined contribution plans and a retiree health reimbursement arrangement (RHRA) with $5.5 million in assets - Conduct quarterly education and training for plan fiduciaries - Update investment policies and evaluate/select investment options - Monitor plan fees and develop participant communication strategies - Manage relationships with plan vendors and assist with RFPs for recordkeeping and investment services - Deliver quarterly legislative and regulatory updates - Perform annual reviews of investment menus and fees - Requirements: - Proposers must register on the eProcurement portal - Proposals must include litigation disclosures, references, and a detailed project approach - No specific OEMs or vendors are named in the solicitation - Notable: Consultant will oversee both retirement and health reimbursement plans, emphasizing comprehensive fiduciary oversight

Description

The County of San Mateo Human Resources Department is soliciting proposals for an investment and fiduciary consultant to support its defined contribution retirement plans. The consultant will provide fiduciary best practices, conduct education and training, update investment policies, evaluate investment options, monitor fees, and assist with communication strategies. The scope includes managing relationships and conducting requests for proposals related to the plans. The contract aims to support multiple retirement plans with nearly $1 billion in assets and over 15,000 participants.

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