Large Cap Value RFP

OKLAHOMA FIREFIGHTERS PENSION AND RETIREMENT SYSTEM

REQUEST FOR PROPOSALS

June 19, 2026

LARGE CAP VALUE DOMESTIC EQUITY

PROPOSALS DUE JULY 24, 2026

JUNE 19, 2026

SOLICITATION FOR PROPOSALS FOR:

LARGE CAP VALUE DOMESTIC EQUITY

You are invited to submit proposals in accordance with the requirements of this solicitation to provide Large Cap Value Domestic Equity (LCV) investment management services to Oklahoma Firefighters Pension and Retirement System (the “System”). For this mandate, we are seeking LCV strategies as an active complement to the System’s total portfolio. This solicitation provides information on the System and establishes the specifications and requirements for submitting a proposal.

Respondents to this solicitation (“Vendors”) are required to comply with the bid procedures set forth in this solicitation, including the Competitive Bid Standards attached hereto as Appendix A. Failure to comply with the bid procedures may render your proposal invalid.

This solicitation does not commit the System or the State of Oklahoma to award a contract(s), to pay any costs incurred in the preparation of a proposal, or to procure a contract for goods or services. The System reserves the right to accept or reject any or all proposals received as a result of this solicitation, to award the contract to more than one bidder, to negotiate with one, some, all or none of the qualified respondents, to cancel in part or in its entirety this proposal if it is in the best interest of the System to do so, or to award all, part, or none of this contract(s). The contract(s) will be awarded by Oklahoma Firefighters Pension and Retirement Board (the “State Board”) from a list of qualified respondents.

The System reserves the right to modify the solicitation’s contents and requirements at any time prior to the submission deadline. Any changes will be posted on the System’s website.

Responses to this solicitation are due by 5:00 PM EST on July 24, 2026. Responses received after this date and time will not be considered. Failure to transmit an electronic version of the response to this solicitation will cause the response to not be considered in the awarding of a contract(s). See Section 5.2 of this solicitation. A timeline is provided in Appendix B. The timeline set forth in Appendix B is subject to change at the sole option of the State Board.

PROPOSAL COVER SHEET (must be signed, notarized, and returned).

Proposal	Agency	Proposal Deadline
Large Cap Value Investment Management Services	Oklahoma Firefighters Pension and Retirement System	Must be received by July 24, 2026 at 5:00 PM EST

Vendor Identification: Name of Vendor: Address: City/State/Zip Code: Telephone Number: Facsimile Number: Primary Contact Person: Email:

VENDOR’S AFFIDAVIT

STATE OF

COUNTY OF

(Print or Type Name), of lawful age, being first duly sworn, on oath says that:

1. (S)he is the duly authorized agent of , the Vendor submitting this proposal which is attached to this statement for the purpose of certifying the facts pertaining to the existence of collusion among Vendors and between Vendors and state officials or employees, as well as facts pertaining to the giving or offering of things of value to government personnel in return for special consideration in the letting of any contract pursuant to the proposal to which this statement is attached, and further represents and warrants that (s)he has the authority to contractually bind the Vendor;

2. (S)he is fully aware of the facts and circumstances surrounding the making and submitting of this proposal and has been personally and directly involved in the proceedings leading to the submission of such proposals;

3. Neither the Vendor nor anyone subject to the Vendor’s direction or control has been a party: a) to any collusion among Vendors in restraint of freedom of competition by agreement to propose a fixed price or to refrain from submitting a proposal; b) to any collusion with any state official or employee as to quantity, quality or price in the prospective contract, or as to any other term of such prospective contract; nor, c) in any discussions between Vendors and any state official concerning exchange of money or any other thing of value for special consideration in the award of this prospective contract; d) to paying, giving or donating or agreeing to pay, give or donate to any officer or employee of the State of Oklahoma, any money or other thing of value, either directly or indirectly, in procuring this prospective contract; and

4. The information contained in this proposal is true, correct and accurate as presented.

Name/Title

Subscribed and sworn to before me this day of , 2026.

(SEAL)

Notary Public

My commission number:

and expiration date:

Table of Contents

Section 1. Introduction

1.1 Background

Oklahoma Firefighters Pension and Retirement Board (the “State Board”) is issuing this Request for Proposal (the “RFP” or this “solicitation”) for the purpose of soliciting proposals from qualified firms (the “Vendors”) to provide LCV investment management services for a portion of the System's investment portfolio.

It is expected that the System will enter into a separate contract with the Vendor(s) selected by the State Board for the management of a LCV strategy portfolio. It is expected that each contract will have an initial term that runs until the end of the 2027 fiscal year (through June 30, 2027), with up to four successive annual renewal periods (July 1 – June 30) before a new base contract will be required. A contract will not be assignable by the Vendor in whole or in part without the written consent of the State Board.

1.2 Overview of the System

A. Legal Authorization. The System, located in Oklahoma City, Oklahoma, is an Oklahoma state agency created by the Oklahoma State Legislature effective January 1, 1981. The System was created to hold and manage the Oklahoma Firefighters Pension and Retirement Fund and to provide retirement benefits for eligible firefighters of the State of Oklahoma. The System’s governing statutes are found at 11 Okla. Stat. (O.S.) § 49-100.1 et seq.

B. The State Board. The State Board is the governing body of the System. The State Board’s statutory authority is set forth in 11 O.S. § 49.100.9. The State Board is comprised of thirteen (13) members, which includes the following: five (5) members of the Oklahoma State Firefighters’ Association State Board; the President of the Professional Firefighters of Oklahoma or designee; the President of the Oklahoma Retired Firefighters’ Association or designee; the State Insurance Commissioner or designee; the Director of the Office of Management and Enterprise Services or designee; one (1) member appointed by the Speaker of the House of Representatives; one (1) member appointed by the President Pro Tempore of the Senate; and two (2) members appointed by the President of the Oklahoma Municipal League. The members of the State Board shall not be contacted directly by respondents (See paragraph A.9 of the Competitive Bid Standards in Appendix A).

The State Board conducts its investment activities in accordance with applicable Oklahoma state laws and in accordance with investment policies and procedures designed to maximize returns at a prudent level of risk, and in the sole interests of the System’s members, participants and beneficiaries. The State Board generally meets monthly to set policy, review investment results and act upon staff and investment consultant recommendations. External money managers or advisors are retained under contract as investment fiduciaries to manage the System’s assets. Investment consultants and other service providers are also retained to advise and/or assist the State Board in the discharge of its responsibilities.

C. Administrative Support. The System has a staff of ten (10) persons supervised by an Executive Director. The Executive Director and the Assistant Executive Director manage the day-to-day financial operations of the System. The Executive Director reports transactions and investment developments to the Investment Committee of the State Board as directed by the State Board. The Executive Director is Chase Rankin.

The System’s master custodian is State Street Bank and Trust Company, Boston, Massachusetts (the “Custodian”), and its investment consultant is Mariner Institutional, Orlando, Florida (the “Consultant”).

D. Actuarial Condition. The System’s actuary is Definiti, Houston, Texas. The July 1, 2025 actuarial valuation reported the actuarial value of assets at $3.568 billion and actuarial accrued liability of $4.786 billion. Actuarial assets as a percent of actuarial accrued liabilities are calculated at 74.6%.

E. Investments. The System is charged with the duty of administering the investment of approximately $4.165 billion, which represents the total pension funds of all eligible firefighters in the State of Oklahoma. The System currently uses external fund managers for actively managed investments and the custodian for the passively managed index funds that make up the System’s liquidity portfolio. The current overall asset allocation targets for the System are 42% domestic equity, 5% other equity, 15% international equity, 10% domestic fixed income, 10% other fixed income, 10% real estate, and 8% other assets. The liquidity portfolio, which is maintained at approximately 15% of the System’s overall portfolio, has asset allocation targets of 36% large cap equity, 15% small/mid cap equity, 15% international equity, and 34% domestic fixed income.

F. Investment Policy. The State Board has adopted a Master Statement of Investment Policy, Objectives and Guidelines, an Investment Guidelines Sub-Policy and various investment manager-specific Addendums for the System (collectively, the “Investment Policy”) to state the goals, objectives, limitations, and directives of the State Board with respect to the investment and management of the assets of the Fund. The selected Vendor(s) will be expected to comply with the Investment Policy. The Investment Policy can be downloaded from: RFP | OFPRS .

Section 2. Statement of Work

2.1 Scope of Services

The purpose of this solicitation is to solicit proposals from qualified firms to provide LCV investment management services for a portion of the System's investment portfolio.

The Vendor is prohibited from subcontracting any of the required services unless such subcontracts are specifically set forth in the Vendor’s proposal.

2.2 Minimum Requirements

Vendors should have substantial experience in the management of LCV portfolios. The following criteria will apply:

A. It is a minimum requirement that the Vendor be either (i) registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940, as amended (Investment Advisers Act) or (ii) a bank, as defined in the Investment Advisers Act.

B. It is a minimum requirement that the Vendor carry errors and omissions insurance to cover negligent acts or omissions during the entire term of its contract with the System. The Vendor must provide a certificate of insurance to the System upon request.

C. It is a minimum requirement that the Vendor be willing to execute the required certifications/attestations provided in Appendix C, D, and E without material modification.

D. It is expected the Vendor product/strategy proposed for consideration will invest primarily in U.S. companies and is benchmarked against the Russell 1000 Value Index.

E. It is a minimum requirement that the Vendor have an existing eight-year live track record (through March 31, 2026) in the proposed LCV strategy. Based on the number of anticipated proposals, an initial quantitative screening of submissions will be conducted on strategies with existing track records.

F. It is desirable, but not a minimum requirement, that the Vendor have at least a ten-year performance history (through March 31, 2026) in the proposed LCV strategy.

G. It is desirable, but not a minimum requirement, that the Vendor have at least $500 million in (taxable and non-taxable) assets under management in the proposed LCV strategy.

H. It is desirable, but not a minimum requirement, that the Vendor offer the proposed LCV strategy under a performance-based fee arrangement.

2.3 DUTIES and restrictions oF the vendor

The selected Vendor(s) will provide, at a minimum, the following services:

A. Quarterly electronic portfolio reports and commentary for the most recent quarter. Portfolio performance will be shown both gross and net of the investment manager fees.

B. Attend a minimum of one, and up to two, regularly scheduled monthly meetings of the State Board per year, at its own expense. The selected Vendor(s) will be notified of the dates they are to attend.

C. Report directly to the State Board and the Executive Director of the System. However, the Vendor will also be responsible for maintaining direct communication with the System’s staff, Consultant, and Custodian.

D. Document all portfolio level activity with the System’s Custodian, in accordance with usual and customary standards of practice and will confirm all executed transactions from custodial account records.

E. Provide any information and reports reasonably requested by the System’s agent, Battea – Class Action Services, LLC, the System or the System’s legal counsel to enable them to review and analyze any existing or pending securities litigation and timely file proofs of claim for all class actions in which the System qualifies as a class member. For the avoidance of doubt, the Vendor will not be responsible for completing or filing any proofs of claim.

F. Provide any information and reports reasonably requested by the System’s agent, VAT IT USA, Inc. (d/b/a WTax), the System or the System’s legal counsel to enable them to review and analyze any reasonable tax filings, exemptions or reclaims, domestic or international.

Section 3. Mandatory Requirements for Submitting A Proposal

3.1 Format

All proposals must be submitted in the manner described in this solicitation and within the time frame specified in Appendix B. The completed proposal must contain the Proposal Cover Sheet, fully completed and signed by an authorized person with full knowledge and acceptance of all its provisions, and notarized. The proposal shall explicitly affirm the following:

A. The Vendor has the current capability to provide the proposed services.

B. The Vendor has reviewed the minimum qualifications and meets the eligibility criteria set forth in Sections 2.2 of this solicitation. If a Vendor does not meet any minimum qualifications, it must identify those qualifications it does not meet and make a detailed case as to why the State Board should consider the Vendor.

C. The Vendor has thoroughly reviewed this solicitation.

D. The Vendor acknowledges and accepts all terms and conditions included in this solicitation (including the Oklahoma law provisions identified in Sections 4.3 through 4.5 of this solicitation).

E. A person authorized to bind the Vendor to all commitments made in its proposal is the signatory of the proposal.

The Vendor shall submit a complete electronic proposal as specified in Section 5.2 of this solicitation. The electronic proposal should consist of the complete response, all supporting materials, and the Proposal Cover Sheet.

3.2 Open Records Act

All materials submitted in response to this solicitation, once opened, are considered to be a public record and shall be available for viewing and reproduction by any person. Such material is subject to Open Records requests pursuant to Oklahoma’s Open Records Act, 51 O.S. § 24A.1 et seq. (See Section 5.4 of this solicitation).

3.3 Costs

All costs of preparation and presentation associated with a proposal in response to this solicitation will be the responsibility of the Vendor. Vendors may be asked to make a presentation before the State Board, at their own expense, if selected as a finalist.

3.4 Competitive Bid

The selection of Vendors is subject to the competitive bidding procedures established by the State Board (See 11 O.S. § 49-100.9). The competitive bid standards applicable to this solicitation are attached as Appendix A.

3.5 Binding Offer

Any proposal received by the State Board will be deemed to be a binding offer on the part of the Vendor, and the Vendor will be bound by the information and representations contained therein. All proposals are to remain valid for at least 180 days from the date of submission.

Submission of a proposal in response to this solicitation evidences the Vendor’s acceptance of the terms and conditions contained within the solicitation, including, but not limited to, the prohibition against limitation of liability and indemnification provisions in favor of the Vendor discussed in Section 4.4, the requirement that all contracts be governed by Oklahoma law as discussed in Section 4.3, and the required verifications and certifications discussed in Section 4.4.

By submitting a response to this solicitation:

A. The Vendor and any subcontractor certifies to the best of their knowledge and belief, that they and their principals and participants:

(i) Are not presently debarred, suspended, proposed for debarment, declared ineligible, or voluntarily excluded by and Federal, state or local department or agency.

(ii) Have not within a five-year period preceding this proposal been convicted of or pled guilty or had a civil judgment rendered against them for: (a) commission of fraud or a criminal offense in connection with obtaining, attempting to obtain or performing a public (Federal, state or local) contract; (b) a violation of Federal or state antitrust statutes or Federal or state securities laws, statutes, rules, codes or regulations; or (c) commission of fraud, embezzlement, theft, forgery, bribery, falsification or destruction of records, making false statements, or receiving stolen property.

(iii) Are not presently indicted for or otherwise criminally or civilly charged by a governmental entity (Federal, state or local) with commission of any of the offenses enumerated in subparagraph b above.

(iv) Have not within a three-year period preceding this Solicitation for Proposals had one or more public (Federal, state or local) contracts terminated for cause or default.

B. When the Vendor is unable to certify to any of the statements in this Section 3.5, such Vendor shall attach an explanation to its proposal.

3.6 On-Site Visits

Vendors that submit a proposal in response to this solicitation may be required to accommodate an on-site (or virtual) visit by representatives of the State Board, the System’s staff and/or the Consultant. Although on-site visits are not envisioned, should on-site visits be required, the State Board will determine the occurrence, date, and time of such visit.

3.7 Finders

The State Board requires that any Vendors who pay or expect to pay a finder’s fee in any form in relation to this solicitation disclose the payment of such finder’s fee to the System. If no disclosures are made, the Vendor will be expected to certify that no finder’s fee or finder’s commission have been paid nor will be paid to any individual or organization from the establishment of this investment relationship with the System.

3.8 Miscellaneous

All Vendors must:

A. Agree that any resulting contract and services will be subject to and interpreted by Oklahoma law.

B. Agree that this solicitation and the Vendor’s response will be incorporated by reference into any resulting contract(s).

C. Answer, to the best of its abilities, all questions in this solicitation in the order presented. Do not add appendices to the end of the solicitation unless specifically asked to do so.

D. Fully disclose any proposed subcontracting of any of the required services.

E. Acknowledge and agree to be a fiduciary to the System under 11 O.S. § 49-100.10 to the extent it exercises any discretionary authority or control over the assets of the System or renders investment advice.

F. Agree to an audit provision which provides that books, records, documents, accounting procedures, practices or any other items of the Vendor relevant to the proposal and performance of the contract must be kept for the period required by Oklahoma law and are subject to examination by the State Board, the Oklahoma State Auditor and Inspector, and the State Purchasing Director.

Section 4. General Information

4.1 Compensation and Payment

The fee schedule for the awarded contract(s) will be set from the fees set forth in the Vendor’s proposal. Once the Vendor is selected, the fees may be negotiated further depending on the variance from the other Vendor’s fee quotations. In no event shall the fees exceed those set forth in the Vendor’s proposal. The Vendor’s fees should be bid and guaranteed for the entire possible duration of the initial base contact, including all possible extensions (i.e. up to 5 years). That means the Vendor’s proposal should discuss fees for all five years, including any proposed yearly increases, although there is no guarantee that the contract will continue for all five years.

4.2 Expected Time Period for Contract

The initial term of the contract(s) to be awarded is anticipated to be for a period beginning on or after September 18, 2026 and ending on June 30, 2027, the end of the System’s then current fiscal year. The contract(s) will further provide for up to four annual renewals if approved by the State Board (July 1 – June 30). Any extensions will be memorialized in writing. As a general rule, the System and the Vendor will each have the right to terminate the contract(s) upon 30 days’ notice, with or without cause. The State Board may reserve the right to terminate the contract(s) immediately, without 30 days’ notice to the Vendor, when violations are found to be an impediment to the function of the System and detrimental to its cause.

4.3 Governing Law AND VENUE

This solicitation and any resulting contract(s) shall be governed in all respects by the laws of the State of Oklahoma, and exclusive jurisdiction and venue shall reside in the State District Court of Oklahoma County, Oklahoma or, if negotiated, the federal courts sitting in the Western District of Oklahoma. The Vendor shall comply with all applicable federal, state and local rules, laws and regulations.

4.4 Oklahoma Law Provisions

A. By submitting a proposal, the Vendor certifies that its proposal is made without collusion or fraud and that it has not offered or received any kickbacks or inducements from any other Vendor, supplier, manufacturer or subcontractor in connection with its bid/proposal. Each Vendor must certify that it has not conferred on any public employee having official responsibility for this solicitation any payment, loan, subscription, advance, deposit of money, services or anything of value, in exchange for procuring a contract. See Certification for Competitive Bid and/or Contract (Non-Collusion Certification) and Supplier Contract Certification attached as Appendix C and 74 O.S. §§ 85.22, 85.41 and 85.42.

B. The System cannot waive any legal right for itself, a Vendor, or any third-party, or indemnify a Vendor or third party in any manner, nor agree to limit legal liabilities or obligations of itself, a Vendor, a third-party. By submitting a proposal, each Vendor hereby agrees and understands that any resulting contract for services arising from this RFP shall not contain any provision containing a waiver of legal liability, any manner of indemnification, nor any limit on legal liabilities or obligation. Any attempt by the Vendor to add indemnification or limitation of liability provisions in favor of the Vendor (or third parties) to the definitive contract may render the Vendor’s proposal non-responsive and subject to rejection.

C. The System, as a governmental entity, is required to include in its contracts a written verification from the Vendor that the Vendor does not boycott Israel. The verification language is required if the contract with the System has a value of $100,000 or more and the Vendor has 10 or more full-time employees. The Vendor will be required to certify that it does not boycott Israel on a yearly basis. See 74 O.S. § 582 and Appendix D.

D. The System, as a governmental entity, is required to include in its contracts a written verification from the Vendor that the Vendor does not boycott firearm entities. The verification language is required if the contract with the System has a value of $100,000 or more and the Vendor has 10 or more full-time employees. The Vendor will be required to certify that it does not boycott firearm entities on a yearly basis. See 21 O.S. § 1289.31 and Appendix E.

E. As a general rule, all materials provided to the State Board or the System during the term of the contract(s) will be public records available for inspection unless they qualify for an exemption. See Section 5.4 of this solicitation.

F. In order to receive an award or payments from the State, a Vendor must be registered as both a Bidder and a Supplier and must maintain the registration prior to any contract renewal term. Additional information can be found at the following link: New Supplier Guide

G. By submitting a proposal, the Vendor certifies that it and any proposed subcontractors are in compliance with 25 O.S. § 1313 and participates in a Status Verification System. The Status Verification System is defined in 25 O.S. § 1312 and includes, but is not limited to, the free Employment Verification Program (E-Verify) through the Department of Homeland Security and available at www.dhs.gov/E-Verify.

H. The Oklahoma State Legislature is currently considering legislation which may require a Vendor to make additional certifications (not discussed in this RFP) if awarded a contract pursuant to this RFP. The Vendor will be expected to comply with all relevant Oklahoma laws in effect during the term of any contract.

4.5 Out-Of-State Vendors

As a general rule, out-of-state Vendors should have a service agent in the State of Oklahoma so that service of summons or legal notice may be had on such designated agent.

4.6 Solicitation Modification

The State Board reserves the right to change the schedule in Appendix B or modify any part of the solicitation process, prior to the date fixed for submission of the proposals, by issuance of an addendum to all participating Vendors. In the event it becomes necessary to revise any part of this solicitation, addenda will be posted on the System’s website. Vendors are advised to check the site regularly prior to the due dates. The State Board also reserves the right to cancel or reissue the RFP in whole or in part, and for any reason, at the sole discretion of the State Board at any time prior to the execution of a contract. The System reserves the right to amend any segment of this solicitation prior to the announcement of a successful Vendor. In such an event, all Vendors will be afforded the opportunity to revise their proposal to accommodate the solicitation amendment.

Section 5. SUBMISSION Instructions

5.1 General

A. Any Vendor selected to make a formal presentation to the State Board should have the person who will be the primary Vendor contact to the System lead the presentation. Responsible persons to be assigned to the System’s account are encouraged to attend the presentation.

B. The State Board reserves the right to request additional information from any Vendor and to accept or reject any or all bids without specifying the reasons for its actions. The State Board reserves the right to request additional bids. The selection of Vendors for state retirement systems is specifically exempt from the Oklahoma Competitive Bidding Act (though subject to the competitive bid standards attached hereto as Appendix A). Further, the State Board specifically reserves the right to negotiate for lower fees or performance-based fees at any time with any Vendor.

C. The State Board also reserves the right to award all, part, or none of this contract(s).

D. This solicitation and the response to this solicitation by the successful Vendor will become a part of the Vendor contract(s) with the System.

5.2 Submission OF PROPOSAL

A complete electronic copy of the proposal (including all supporting materials) should be submitted to Finley & Cook, PLLC at okfire-rfp@finley-cook.com. Finley & Cook is the independent CPA firm that has been contracted by the System to accumulate the proposals submitted and provide the proposals to the System for evaluation. In addition to the electronic distribution to Finley & Cook, please submit a complete electronic copy of the proposal to the System’s Consultant at mi-okfire@mariner.com using the subject line OK Fire – Large Cap Value Proposal.

Vendors must also:

(i) Complete the supplemental Excel workbook.

(ii) Upload performance and holdings data to Morningstar Direct as instructed in question 134 of Appendix F. There is no vendor cost to upload information to Morningstar Direct.

The responding Vendor shall be responsible for the electronic delivery of the proposal to the proper email addresses and the upload of performance and holdings information before the deadline. A revised proposal may be sent before the deadline if the Vendor specifies in the revised submission email that the new proposal supersedes the previously submitted proposal. All proposals become the property of the System.

An electronic version of the questionnaire (Appendix F) and supplemental Excel workbook can be obtained at the System’s website under the RFP tab: RFP | OFPRS . All questions should be answered, and the contents of the solicitation may not be altered in any way. The Vendor’s Affidavit and all questions must be identically reproduced in the submitted proposal. Any alterations to the contents of the solicitation will be grounds for rejection from consideration or termination of any resulting contract. By submitting a proposal, it is agreed by the Vendor that any false or misleading information given may be grounds for rejection from consideration and/or termination of any resulting contract whenever and however discovered.

The completed electronic version of your proposal must be delivered by 5:00 p.m. EST on July 24, 2026. Earlier responses are welcome, and any proposal delivered after the deadline will not be considered.

5.3 Submission of Questions

The System will not hold a pre-bid conference. The System will only respond to questions submitted via email. Questions are due on or before the date specified in Appendix B and should be emailed to rfp@firepension.ok.gov and mi-okfire@mariner.com using the subject line OK Fire–Q&A Large Cap Value RFP. These questions will be consolidated into a single Q & A document, which will be posted to the System’s website on the date specified in Appendix B.

5.4 Proprietary Information

Each Vendor should be aware that all proposals submitted in response to this solicitation, including any materials provided by a finalist to the State Board at an in-person meeting, shall become the property of the System and shall be subject to public disclosure pursuant to the Oklahoma Open Records Act (See 51 O.S. § 24A.1 et seq.). The System shall keep the proposals received pursuant to this solicitation confidential until a contract is awarded or the solicitation is cancelled. This practice protects the integrity of the competitive bid process and prevents excessive disruption to the procurement process under 51 O.S. § 24A.5(6). Thereafter, the proposals shall be accessible to the public for inspection. There are specific exemptions to disclosure under the Open Records Act. If a responding Vendor wishes to seek an exemption from disclosure under the Open Records Act, it is the responsibility of the responding Vendor to assert any right of confidentiality that may exist. The System will not make that assertion on behalf of the responding Vendor. Absent a judicial determination that the proposal is exempt from disclosure, it will be subject to inspection.

5.5 Preparation and Travel Costs

Expenses for the development and submission of required information or any presentations to the State Board are the sole responsibility of the Vendor(s). The State Board will not be liable for any costs associated with preparation and submission of information submitted in response to this solicitation or any presentations to the State Board.

5.6 Miscellaneous

A. The System may make such reasonable investigations it deems proper and necessary to determine the ability of the Vendor to perform the services, and may request additional information from any Vendor and the Vendor shall furnish to the System all such information and data for this purpose as may be requested. The System reserves the right to make a site visit at the offices of the Vendor prior to award.

B. In order to encourage maximum participation, the System’s Consultant may have non-substantive communications with Vendors it believes to be in the business of providing the services sought herein to inform them of this solicitation. Vendors receiving such communications will receive no preference should they submit proposals, nor will any Vendor not receiving such communications be in any way disadvantaged.

C. Any Vendor awarded a contract agrees that it shall, upon the request of the State Board, attend monthly meetings of the State Board a minimum of one time per fiscal year, and up to twice during each annual term of its contract on the dates selected by the State Board, and at any other time as deemed necessary by the State Board, to report investment results and discuss with the State Board the overall performance of its managed portfolio. The Vendor’s attendance at any meeting of the State Board will be at its own expense.

D. The Vendor must indicate any recent or anticipated changes in its corporate structure such as mergers, acquisitions, stock issues, etc.

E. Any contract awarded to a successful Vendor shall not be assignable by the Vendor in whole or in part without the written consent of the State Board.

F. Any contract resulting from this solicitation does not create an employment relationship. Individuals and entities performing services required by any contract awarded pursuant to this solicitation are not employees of the State of Oklahoma, the State Board or the System, and accordingly neither they nor their employees or contractors shall be eligible for rights or benefits accruing to state employees.

G. Any contract awarded under this solicitation will be issued under the authority of the State Board and executed by the Executive Director. The contract may be modified only through a written contract modification or amendment, signed by the Executive Director or, in his absence, another authorized signatory of the System.

H. Any change to the contract, including but not limited to the addition, removal or substitution of services or the revision of payment terms made unilaterally by the Vendor or without the written consent of an authorized signatory of the System is a breach of contract. Unless otherwise specified by applicable law or rules, such changes, including unauthorized written contract modifications or amendments, shall be void and without effect, and the supplier shall not be entitled to any claim under the contract based on those changes. No oral statements of any person shall modify or otherwise affect the terms, conditions or specifications stated in the resultant contract.

Section 6. Review of Proposal

6.1 Information Clarification/Rejections

Determination of clarity and completeness in the information requested under this solicitation will be made solely by the State Board. The State Board reserves the right to require clarification, additional information, and materials in any form relative to any or all of the provisions or conditions of this solicitation.

6.2 Contract Awards

A. The State Board intends to award a contract to the Vendor with the best combination of attributes. The State Board reserves the right to make an award without further discussion of the proposal submitted. Therefore, the proposal should be submitted initially on the most favorable terms which the Vendor can propose.

B. The Vendor should be prepared to accept this solicitation for incorporation into any agreement resulting from this solicitation. Contract negotiations may incorporate some or the Vendor’s entire proposal. It is understood that the proposal will become a part of the official solicitation file on this matter without obligation to the State Board. The State Board reserves the right to correct inaccurate awards resulting from any clerical errors.

C. Should the State Board fail to negotiate a contract with the selected Vendor, the State Board reserves the right to negotiate and contract with the next most qualified Vendor. The State Board reserves the right to contract with more than one Vendor.

6.3 Waivers

A. The State Board reserves the right to waive specific terms and conditions contained in this solicitation.

B. It shall be understood by the Vendor that the information provided is predicated upon acceptance of all terms and conditions contained in this solicitation unless the Vendor has obtained such as waiver, in writing, from the State Board prior to submission of any requested information.

APPENDIX A - COMPETITIVE BID STANDARDS

Contractual services with pension fund custodians, investment managers, investment consultants, and other professions exempt from competitive bidding procedures of the Oklahoma Central Purchasing Act shall be chosen by a solicitation of proposals on a competitive bid basis pursuant to the following standards:

A. Normal Competitive Bid Standards

1. The Oklahoma Firefighters Pension and Retirement Board (the State Board) shall approve all solicitations of proposals issued by the Oklahoma Firefighters Pension and Retirement System (the System).

2. Vendors to a proposal shall comply with the bid procedures set forth in the solicitation of proposals and these standards.

3. The Executive Director is responsible for developing a list of qualified bidders for each approved proposal including those bidders who have registered with the Central Purchasing Division of the Oklahoma Department of Central Services/Office of Management and Enterprise Services.

4. Proposals will be mailed by and returned to the System’s independent certified public accountant that will verify to the State Board whether the solicitation is in compliance with these standards.

5. A solicitation does not commit the State Board to award a contract, to pay any costs incurred in the preparation of a proposal, or to procure a contract for the articles of goods or services.

6. The State Board reserves the right to accept or reject any or all proposals received as a result of a solicitation, to negotiate with any and all qualified bidders, to select any qualified bidder to provide additional or ancillary services to the State Board, or to cancel in part or in its entirety a solicitation if it is in the best interest of the System to do so.

7. The State Board shall award contracts to the lowest and best bidder at a specified time and place, which shall be open to the public pursuant to the provisions of the Oklahoma Open Meeting Act.

8. Proposals shall be evaluated by the Executive Director and any other person or organization, including but not limited to the Investment Committee or Rules Committee of the State Board, as determined by the Chairmen of the State Board. The Executive Director and other persons or organizations shall present the evaluations and recommendations to the State Board.

9. Communication guidelines.

a. No member of the State Board or its staff shall knowingly communicate concerning any matter relating to the contract or selection process with any party financially interested in the contract, or an officer or employee of that party, or a placement agent retained or employed by that party, unless the communication is:

1) Part of the process expressly described in the request for proposal or other solicitation invitation.

2) Part of a noticed board meeting.

3) As provided in Section A.9.c.

4) Any bidder who knowingly participates in a communication that is prohibited by this subsection shall be disqualified from the contract award.

b. During the evaluation of any solicitation of proposal, no party who is financially interested in a proposal, an officer or employee of that party, placement agent or a person retained or employed by that party, may knowingly communicate with any State Board Member concerning any matter relating to the transaction or its evaluation, unless the financially interested party discloses the content of the communication in a writing addressed and submitted to the Executive Director and the State Board prior to the State Board’s action on the prospective proposal. This subsection shall not apply to communications that are part of a noticed board meeting, or as provided in Section A.9.c.

1) The writing shall disclose the date and location of the communication, and the substance of the matters discussed. The State Board shall prescribe other procedures concerning this disclosure.

2) Any State Board Member who participates in a communication subject to this subsection shall also have the obligation to disclose the communication to the Executive Director and the State Board, prior to the State Board’s action on the proposal. The State Board shall prescribe procedures for this disclosure, including procedures to apply to State Board Members who fail to disclose communications as required by this subsection.

3) Consistent with its fiduciary duties, the State Board shall determine the appropriate remedy for any knowing failure of a financially interested party to comply with this subsection including, but not limited to, outright rejection of the prospective proposal, reduction in fee received, or any other sanction.

4) The communications disclosed under this subsection shall be made public, either at the open meeting of the State Board in which the proposal is considered, or if in closed executive session, upon public disclosure of any closed executive session votes concerning the proposal.

c. The procedures and prohibitions prescribed by this section shall not apply to:

1) Communications that are incidental, exclusively social, and do not involve the System or its business, or the State Board or staff member’s role as a System official; and

2) Communications that do not involve the System or its business and are within the scope of the State Board or staff member’s private business or public office wholly unrelated to the System.

10. Proposals will be evaluated using the following criteria listed in order of importance.

a. Bidder’s demonstrated understanding of the problems and the needs of the solicitation as outlined in the proposal as well as the perceptiveness to address areas not specifically identified.

b. Soundness of the bidder’s approach to the problems and needs presented by the proposal including methodology for achieving specific tasks and objectives.

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