Approval of Retirement Planning Consulting Contract #20240083

Original title: Award Contract #20240083 for Retirement Planning Consulting Services (Investment Performance Monitoring and Advisory Services for 401A, 457B, RHS, and OPEB).

Record date · July 14, 2025

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What This Bill Does

The City Council has approved a contract for professional consulting services to monitor and advise on the city's various retirement and employee benefit investment plans.

Why it matters

This contract establishes the professional oversight for the investment performance of city employee retirement accounts (, , RHS) and retiree health benefits (), impacting how these funds are managed.

Who It Affects

Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.

Directly affected

City Employees

The investment performance of their retirement and benefit accounts will be subject to the oversight provided by the new consultant.

Directly affected

Retirees

The management of OPEB and other post-employment benefit funds is covered under this consulting contract.

Key Facts

The City Council passed Contract #20240083 for retirement planning consulting services.
The scope of services includes investment performance monitoring and advisory services.
The contract covers four specific benefit programs: 401A, 457B, RHS (Retirement Health Savings), and OPEB (Other Post-Employment Benefits).
The legislation was introduced on July 7, 2025.

Show all 5 facts

The item was processed as a 'Consent' agenda item, indicating it was passed without separate debate.

Frequently Asked Questions

What does this contract do?

It hires a consultant to monitor and provide advice on the investment performance of city retirement and post-employment benefit plans.

Which employee plans are affected?

The contract covers , , Retirement Health Savings (RHS), and Other Post-Employment Benefits () plans.

What else do you want to know?

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Full breakdown

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Sources

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Analysis Score

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Significance40
How much this matters to a regular citizen
Controversy10
Intensity of disagreement among stakeholders
Entertainment5
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Buzz10
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