Title
Retirement Plans Investment Consulting Services Requests for Proposals
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FileID
File ID: 2025-00376
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Location
Location: Citywide
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Recommendation
Recommendation: Pass a Motion recommending the City award a contract for Retirement Plan Investment Consulting Services as a result of Request for Proposals #P26081021003.
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Contact
Contact: Samantha Hardy, Human Resources Manager, (916) 808-7657, shardy@cityofsacramento.org, Human Resources Department
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Presenter
Presenter: Samantha Hardy, Human Resources Manager, (916) 808-7657, shardy@cityofsacramento.org, Human Resources Department
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Attachments
Attachments:
1-Description/Analysis
2-Fiduciary Consulting Group Proposal
3-Retirement Plan Advisors Proposal
4-Creative Planning Retirement Services Proposal
5-Innovest Portfolio Solutions Proposal
6-Fiduciary Consulting Group Presentation
7-Retirement Plan Advisors Presentation
8-Creative Planning Retirement Services Presentation
9-Innovest Presentation
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Description/Analysis
IssueDetail
Issue Detail: The City currently contracts with Nationwide Retirement Solutions to administer the City's 401(a), 457(b), and Retiree Health Reimbursement Arrangement Plans. In 2019, the City and the Defined Contribution Plans Committee (Committee) completed a Request for Proposals (RFP) process for investment consulting services to support the administration of these Plans and to provide advisory support to the Committee. As a result of that process, Hyas Group was selected as the investment consulting firm, and the City entered a five-year contract with Hyas Group in February 2021.
During the term of the contract, Hyas Group became Fiduciary Consulting Group, a business unit within Morgan Stanley Institutional Investment Advisors LLC. While the City has been pleased with and appreciative of the services provided, because the award of a contract for services is estimated at $250,000 or more, the City issued an RFP on October 21, 2025...
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