RFQ: 457(b) FIDUCIARY SERVICES FOR THE CITY OF AURORA, ILLINOIS
| Agency: |
City of Aurora |
| State: |
Illinois |
| Type of Government: |
State & Local |
| Category: |
- S - Utilities and Training Services
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| Posted: |
Oct 30, 2023 |
| Due: |
Nov 29, 2023 |
| Solicitation No: |
23-73 |
| Publication URL: |
To access bid details, please log in. |
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Bid Number:
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23-73
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Bid Title:
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RFQ: 457(b) FIDUCIARY SERVICES FOR THE CITY OF AURORA, ILLINOIS
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Category:
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Professional Services and Consulting
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Status:
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Open
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Description:
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The City of Aurora is issuing this Request for Qualifications (RFQ) to qualified retirement plan advisors capable of providing fiduciary expertise, consulting, and consolidation services for our employee deferred compensation programs. The City’s goal is to streamline the administration of its deferred compensation plans offered to employees while simultaneously providing prudent investment choices and minimizing participant costs. The purpose of this RFQ is to ascertain which advisor can best provide these types of services to support the City’s 457 deferred compensation plans.
The City of Aurora is interested in contracting with a retirement plan consultant for the following services:
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Review of the current investment structure and recommendations for consolidation of plans for ease of plan management while minimizing participant cost
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Review of investment options and ongoing monitoring
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Identification of the appropriate share class to be utilized for each investment option
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Assistance with record-keeper review, benchmarking, and possible transition and consolidation
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Publication Date/Time:
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10/29/2023 12:00 AM
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Publication Information:
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Aurora City Website and DemandStar
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Closing Date/Time:
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11/29/2023 12:00 PM
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Submittal Information:
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City of Aurora, Attn: City Clerk's Office, 44 E. Downer Place, Aurora, IL 60507
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Bid Opening Information:
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N/A
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Contact Person:
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Purchasing Division
PurchasingDL@aurora.il.us
630-256-3550
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Download Available:
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Yes
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Fee:
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$0
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Plan & Spec Available:
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Specifications and forms may obtained online at:
https://www.aurora-il.org/bids.aspx
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Business Hours:
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8:00 am - 5:00 pm
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Qualifications:
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The minimal qualifications should include:
• The firm must be registered with the U.S. Securities and Exchange Commission as an investment advisor under the Investment Company Act of 1940
• Each individual advisor representative who may advise the City of Aurora must be registered with the State of Illinois
• The dedicated service team must have relevant experience with 457 deferred compensation plans
• A dedicated project manager and service team will be provided for the duration of services provided and who will be responsible for day-to-day communications.
• The firm must have adequate cybersecurity coverage.
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Related Documents:
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View Document(s)
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* Disclaimer: Information regarding bids, requests for proposals (RFPs), or requests for qualifications (RFQs) is provided on this website only as a convenience and does not constitute official public notice. Persons wishing to respond to or inquire about bids, RFPs, or RFQs should contact the appropriate government department.
