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| December 19, 2019 City Council Regular Meeting | |
| Title 41. Motion to Authorize the City Manager to Execute the First Renewal of an Annual Contract with NEPC, LLC for Pension Investment Advisory Services in the Amount of $130,000 (Event No. 6016) | |
| Strategic Priority N/A | |
| Description Recommend approval to renew an annual contract for a pension investment advisor from NEPC, LLC in the amount of $130,000. The City’s pension plan board is required to engage an investment advisor with experience advising fiduciaries similar to the board. The advisor provides analysis which leads to the identification of appropriate investment styles consistent with the City’s long term investment objectives as well as assist the board in selecting and negotiating with investment managers among other duties. The method of procurement used was the request for proposals which evaluates criteria in addition to cost. The criteria used in this procurement were qualifications and experience, references, fees, and local vendor participation. Council originally approved this contract on September 13, 2018 in the amount of $130,000. This is the first of four renewal options available. | |
| Recommendation Approval | |
| Contact Jeff Grant, Human Resources Director | |
| Financial Impact Expenditure of $130,000 from the Pension Fund | |
| Review Comments | |
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Attachments Exhibit 1: Purchasing Summary - Pension Investment Advisor.pdf Exhibit 2: Scope - Pension Investment Advisor.pdf Exhibit 3: Funding Verification - Pension Investment Advisor.pdf |
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