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This Solicitation opportunity from Kansas was posted on August 4, 2025. The submission period has ended. Browse the details below for market research, or find similar active opportunities.

457 Investment Advisor

Closed
GEN-2500074State & Local

Contract Overview

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NAICS: 541611
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Naval History and Heritage Command (NHHC)

POSTED

in 2 months

DEADLINE

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NAICS: 541611
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University of Arkansas Fayetteville (UAF)

POSTED

in about 1 month

DEADLINE

in about 1 month

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The City of Lawrence, Kansas, is seeking proposals from qualified firms to serve as investment advisors for its 457(b) and 401(a) retirement plans, which collectively manage assets totaling approximately $57.6 million across around 655 participant accounts as of July 2025. The selected firm will act as an independent consultant, providing expert advice on plan design, investment options, regulatory compliance, vendor oversight, and participant engagement, without assuming fiduciary responsibility for asset management. The firm will support the City in evaluating and recommending investment options, establishing default investments, monitoring performance, and ensuring regulatory adherence. Additionally, the consultant will assist with vendor performance reviews, contract negotiations, participant education initiatives, and the inclusion of innovative investment products, fostering a long-term partnership subject to annual renewal based on performance and budget considerations. The engagement is expected to commence around January 1, 2026, with contracts initially awarded for one year, renewable annually. The scope of services emphasizes ongoing review and analysis of plan structure, industry trends, behavioral finance developments, and regulatory updates. The consultant will also play a key role in facilitating communication between the City and plan service providers, supporting participant readiness programs, and providing strategic guidance on investment disclosures and performance benchmarking. The contract, valued between $50,000 and $150,000, is managed through the Kansas Human Resources department, with primary contact Lisa Pence. The City aims to establish a sustained relationship with the selected firm, ensuring continuous improvement of the retirement plans’ investment strategies and administrative efficiency. The proposal deadline is September 9, 2025, with the project details accessible via the City’s procurement portal.

General Info

Agency

Kansas → Human ResourcesView Agency

NAICS

541611 - Administrative Management and General Management Consulting Services View NAICS

Place of Performance

KS, USA

Set-Aside

NONE

Documents

(3)

EXHIBIT_B_Bidder_Questionaire.docx

DOCX

EXHIBIT_A_FUND_INFORMATION.pdf

PDF

RFP_Document.pdf

PDF

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Timeline

PhaseClosed
Posted

Solicitation

Response Deadline

Deadline has passed

Submission Closed

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Organization & Contact Information

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AgencyKansas → Human Resources
Contacts1 person available
OfficeN/A
Organization / Agency
Kansas → Human Resources
View Agency Profile
Office AddressN/A

Full Description

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The City of Lawrence, Kansas, is seeking proposals from qualified and experienced firms to provide investment advisory and consulting services for the City’s 457(b) and 401(a) retirement plans. As of July 18, 2025, the City’s 457(b) plan includes approximately 655 participant accounts and total assets of $57.6 million.The selected firm will serve as an independent advisor and will not assume any fiduciary responsibility for asset management. Instead, the consultant will advise the City on all aspects of the Plans' investment design, regulatory compliance, vendor oversight, and participant engagement. The City intends to establish a long-term partnership with a single consultant, subject to annual contract renewal based on budget availability.The selected firm will be expected to perform the following services, including but not limited to:Conduct ongoing review, analysis, and recommendations regarding Plan design and structure;Evaluate and recommend investment education programs for Plan participants;Monitor and provide guidance on industry and plan sponsor trends, including behavioral finance developments and innovative investment products;Provide timely updates and advice on applicable regulatory changes affecting the Plans;Advise on best practices in public-sector retirement plan administration and investment strategy;Review and make recommendations concerning the number, types, and asset classes of investment options offered under the Plans;Assist in the selection and prudent ongoing monitoring of investment options;Recommend appropriate default investment options in the absence of participant direction;Establish and periodically review appropriate benchmarks and peer group comparisons for investment performance evaluation;Provide implementation and exit strategies for investment options;Review and advise on the content and delivery of participant investment-related disclosures;Conduct performance evaluations of the City’s custodial and recordkeeping providers and assist with provider searches, if necessary;Assist with contract negotiations and review draft contracts and amendments for City approval prior to execution;Evaluate and advise on the inclusion of new investment products suitable for qualified retirement plans;Serve as a liaison between the City and other Plan service providers, as requested;Support the City in assessing, improving, and benchmarking the performance and fees of Plan vendors;Collaborate with City staff and Plan providers to support participant education and retirement readiness initiatives.Additional Requirement(s):The selected consultant will be expected to attend meetings—either in person or virtually—at the request of the City. Contract Term and Start DateThe City anticipates services to commence on or around January 1, 2026. While it is the City’s intent to form an ongoing relationship with the selected firm, contracts will be awarded for a one-year term and may be renewed annually based on satisfactory performance and budgetary approval.