Investment Consultant Services

The City of San Diego is seeking a qualified vendor to provide investment consultant services for the city employees' 401(k), 401(a), and supplemental pension savings plans. The agency requires these services to ensure the proper management, oversight, and performance of its employee retirement plans. The selected consultant will support the trustee board in fulfilling its fiduciary duties and optimizing plan structures. The scope of work covers assessing investment fund performance against benchmarks and providing written quarterly reports on market conditions, interest rates, inflation, and asset class risks. The consultant must review the established statement of general investment policies, recommend revisions, and prepare watch list procedures for underperforming funds. Additionally, the agency requires the consultant to review asset allocations, suggest structural changes for diversification, and advise the board on selecting, negotiating with, and monitoring investment managers. The consultant must also provide investment education and regulatory updates to the board. Furthermore, the scope includes performing a record-keeper search by drafting and issuing an RFP, evaluating proposals, and facilitating interviews with finalist candidates. The agency requires all performance of the work to be conducted onsite. Eligible bidders must be located onshore within the United States. The agency is looking for budget proposals to determine the cost of the contract. The resulting contract period will be for one year. Bidders must submit all questions regarding this opportunity no later than June 19, 2026.