Uniformed Retirement System - Investment Consulting Services

Fairfax County is seeking proposals for a non-discretionary investment consulting firm to provide comprehensive advisory services for the Uniformed Retirement System (URS), which manages approximately 2.5 billion dollars across public and private markets. The selected consultant will support the URS Board of Trustees and Staff in areas including strategic asset allocation, the development and updating of the Investment Policy Statement, manager research and selection, risk analytics, and performance reporting. Key deliverables include monthly flash, quarterly, and annual performance reports aligned with Global Investment Performance Standards, as well as the oversight of private market pacing plans and commitments. The Chief Investment Officer will serve as the primary point of contact for the consultant. Proposals must be submitted electronically via the Euna Bonfire portal by November 2, 2026. The evaluation process consists of a preliminary review, potential oral presentations for high-rated offerors, and a final selection based on the best overall proposal. Award criteria are weighted toward the technical narrative at 50 percent, the statement of qualifications at 30 percent, and the reasonableness of the fee proposal at 20 percent. Offerors are required to propose a single, all-inclusive annual fee for an initial three-year term with two optional extension years. Compliance requirements include maintaining statutory workers compensation and employer liability insurance of at least 1 million dollars and adhering to strict cybersecurity, HIPAA, and ADA standards. Payment is subject to appropriations by the Fairfax County Board of Supervisors, with invoices submitted quarterly and paid within 30 days of receipt. Required submission documents include a technical narrative and several certifications regarding business classification, ethics in public contracting, and debarment status.