Investment Advisory Services | Package A: City Investment Portfolio | Package B: Section 115 Trust

The City of Milpitas is soliciting proposals for investment advisory services under solicitation number 26-262. The project is divided into two distinct packages: Package A, which focuses on the comprehensive review, analysis, reporting, and portfolio management of the City Investment Portfolio, and Package B, which covers Internal Revenue Service Code Section 115 Retirement Trust services for California local government agencies. Each package will be evaluated and awarded separately, potentially resulting in two separate contracts. The initial term for the agreement is five years, with options for extension. For Package A, the compensation is based on a tiered asset management fee structure ranging from 8 basis points for the first 50 million dollars to 3 basis points for assets exceeding 250 million dollars, with a total estimated five-year contract value of 790,000 dollars. The selected contractor must assign a full-time, English-speaking project manager and adhere to the City's Adopted Investment Policy. Award decisions will be based on the most advantageous proposal rather than the lowest price. Compliance requirements are stringent, requiring proposers to maintain active registration with the California Secretary of State, obtain a Milpitas business license, and adhere to the California Fair Employment Practice Act. Contractors must also comply with prevailing wage laws and environmental standards, specifically using recycled paper with at least 30% post-consumer fiber for all deliverables. Submissions must be made electronically via the OpenGov portal by the September 24, 2026, deadline, including all required certifications such as the Non-Collusion Declaration and Nondiscriminatory Employment Certificate.