Laserfiche WebLink
Administrative, Investment, and Communication Advisory Services <br />December 3, 2024 <br />Page 2 <br />4 <br />6 <br />9 <br />7 <br />On September 19, 2024, the Finance and Management Services Agency released <br />Request for Proposals (RFP) No. 24-109 for plan and investment advisory services for <br />the 457 and RHS Plan. Four firms submitted proposals in response to the RFP: BFSG, <br />LLC, Fiduciary Experts LLC, SageView Advisory Group, and Shuster Advisory Group, <br />LLC. The selection committee with experience in the related services evaluated <br />proposals. <br />Staff recommends awarding an agreement to the highest-ranked vendor, BFSG, LLC. <br />Following a comprehensive evaluation of the four bids received, which assessed both <br />cost and professional expertise, BFSG, LLC was determined to offer the best overall <br />value. Their proposal demonstrated the firm has the necessary resources and expertise <br />to complete the required services as specified in the RFP. Their fee was competitive <br />and aligned with the other bids received. <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with this action. <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. All administrative fees pertaining to <br />the services will be borne by the plan participants. Internal Revenue Code permits <br />administrative reimbursement from plan assets. <br />EXHIBIT(S) <br />1. Agreement <br />Submitted By: Kathryn Downs, Executive Director of Finance and Management <br />Services <br />Approved By: Alvaro Nuñez, City Manager <br />  <br />  <br />City Council 8 – 2 12/3/2024