Request for Proposals (RFP) for Section 115 Trust Administration and Investment Management Services

The City of Pinole invites qualified investments advisory firms to submit proposals for the provision of Section 115 Trust administration and investment management services. Through this solicitation, the City seeks to evaluate the services provided and the associated costs and fees.

The City seeks a firm with demonstrated experience serving California public agencies and the ability to provide prudent, cost-effective investment advice that complies with applicable laws and the City’s Pension and Other Post-Employment Benefits (OPEB) Investment Policy, and supports operating and liquidity requirements.

The selected firm shall provide ongoing management, administration, and investment services for the City of Pinole’s existing Section Pension and OPEB trust, that include, but not limited to, the following:

A. Trust Administration

• Administer the City’s existing pension and OPEB trust in accordance with applicable trust documents and legal requirements.
• Process and coordinate contributions, withdrawals, distributions, and other trust transactions as authorized by the City.
• Coordinate with the City and applicable custodians, investment managers, and other service providers to ensure accurate and timely trust administration.
• Provide ongoing administrative support and respond to City inquiries.

B. Investment Management

• Manage trust assets in accordance with the City’s investment objectives, approved investment policies, and applicable trust requirements.
• Develop and implement appropriate investment strategies based on the City’s funding objectives, liquidity needs, investment time horizon, and risk tolerance.
• Monitor investment performance, portfolio allocations, market conditions, and investment risks.
• Make investment recommendations or decisions, as authorized under the agreement, and rebalance portfolios as appropriate.

C. Reporting and Compliance

• Provide periodic reports detailing trust balances, contributions, withdrawals, investment holdings, asset allocations, investment performance, benchmarks, and fees.
• Monitor compliance with applicable investment policies and trust requirements and notify the City of material issues.
• Provide information and documentation to support the City’s budgeting and financial planning, financial reporting, and oversight responsibilities.

D. Ongoing Advisory Services

• Advise the City on trust investment strategies, asset allocations, liquidity management, and portfolio risk.
• Identify opportunities to improve investment performance and cost-effectiveness, as appropriate.
• Provide timely updates regarding material market developments and investment-related risks.
• Attend meetings with City staff and the City Council, as requested.

E. Transition Services

• Coordinate the transfer of trust assets, account information, records, and administrative responsibilities from the City’s existing service provider, if applicable.
• Facilitate the orderly transition of investment management, reporting, and administrative services while minimizing disruption to trust operations.
• Coordinate with the City and relevant service providers to ensure continuity of service during the transition.

The City is accepting electronic proposal submissions. Proposers shall create a FREE account with OpenGov Procurement by signing up at https://procurement.opengov.com/signup. Once you have completed account registration, browse back to this page, click on “Draft Response”, and follow the instructions to submit the electronic proposal.

The City will evaluate firms on the basis of the proposal (qualifications, key personnel, scope, and fee) and reference checks. Upon the City’s review of proposals, the City may invite firms for interviews.

The cover letter must contain a statement indicating that the proposal is valid for ninety days following the proposal due date.

The proposal shall include a statement by the firm that it has reviewed the City’s *Standard Consulting Services Agreement* (attached) and is willing to execute an agreement with those terms, including insurance requirements, for this project.

The firm awarded the contract will be required to have a City of Pinole business license.