Title
[Contract] Professional Services Agreement with Fiduciary Consulting Group for Retirement Plans Consulting Services
End
FileID
File ID: 2026-00769
End
Location
Location: Citywide
End
Recommendation
Recommendation: Pass a Motion authorizing the City Manager or designee to execute a five-year professional services agreement with Fiduciary Consulting Group at a cost not-to-exceed $250,000 for retirement plans consulting services.
End
Contact
Contact: Samantha Hardy, Interim Director, (916) 808-7657, shardy@cityofsacramento.org, Department of Human Resources
End
Presenter
Presenter: None
End
Attachments
Attachments:
1-Description Analysis
2-Professional Services Agreement
End
Description/Analysis
IssueDetail
Issue Detail: The City conducted a request for proposals (RFP), No. P26081021003, for retirement plans consulting services to assist the City and the Defined Contribution Plans Committee (Committee) with the management and oversight of the City's 401(a), 457(b), and retiree Health Reimbursement Arrangement plans (Plans). With a current combined asset value of approximately $900 million across all Plans, the City benefits from retaining a consultant with expertise in plan management and investment oversight and advisory services, including monitoring and recommendations, to support the interests of both the City and Plan participants. These benefits include helping reduce participant fees, expanding and enhancing investment options for participants across all stages of retirement planning, strengthening marketing efforts to increase enrollment, and oversight of recordkeeper compliance.
The City received six responsive proposals to the RFP. A review panel consisting of one Human Resources representative and two Committee representatives was convened to evaluate the proposals. The review panel scored the proposals using a scoring rubric which included:
Evaluation Criteria
Maximum Points
Demonstrated experience pr...
Click here for full text