DMS-2526-039 Investment Consulting and Monitoring Services

The Department of Management Services for the State of Florida is soliciting investment consulting and monitoring services under solicitation DMS-25/26-039 for the State University System Optional Retirement Program and the Senior Management Service Optional Annuity Program. The contract term is three years, commencing August 8, 2026, with an option to renew for up to three additional years contingent upon satisfactory performance evaluations. The scope of work requires the contractor to provide quarterly investment performance reviews, annual comprehensive reports and reviews, and ad hoc consulting services, all aligned with the Department’s Investment Policy Statement. All deliverables must be submitted within specified timeframes following quarter-end dates and require written approval by the Department’s Contract Manager prior to payment. The contractor must utilize only authorized investment products listed in Revised Attachment F, monitor both current and legacy products held by former service providers, and operate under a non-fiduciary capacity. Pricing is structured using a weighted formula where 50% relates to initial term reviews, 40% to renewal term reviews, and 10% to ad hoc consulting, with bids required to remain firm for the life of the contract. Ad hoc services are capped at $5,000 annually and billed monthly based on hourly rates provided for each year of the initial and renewal terms. The contractor must be registered in MyFloridaMarketPlace and the Business Network, and is required to submit multiple mandatory forms including the PUR 7801 Vendor Certification, PUR 2024 Forced Labor Certification, and Mandatory Responsiveness Requirements, alongside certifications regarding non-boycott of Israel, drug-free workplace, and absence of conflicts of interest. The contractor must comply with all applicable federal and state laws, including Section 274A of the Immigration and Nationality Act, Chapter 119 Florida Public Records Act, and Section 286.101 disclosure requirements. Full compliance with the Non-Disclosure Agreement is mandatory, requiring strict confidentiality, cybersecurity measures, and data residency within the United States. Offshoring of services or storage of data outside the U.S. is prohibited. The contractor must maintain commercial general liability insurance of $1 million per occurrence and $2 million aggregate, with the Department named as an additional insured, and workers’ compensation coverage as required by law. All services must be performed within the U.S., personnel must pass criminal background screenings, and invoices must be submitted quarterly in arrears by the 30th day following each quarter with