Contributions Retirement Savings and Post-Employment Benefits Service

The City of Falls Church, Virginia, is seeking proposals from qualified, independent, registered institutional financial and investment firms to provide professional consulting services for its External Defined Benefits, Defined Contributions Retirement Savings Plan, and Other Post Employment Benefits plans. The agency administers these plans internally and requires an external partner to serve in a fiduciary capacity, offering independent governance and administrative advice. The selected firm will help the agency evaluate investment manager and mutual fund performance, monitor fee structures, and conduct annual organizational and performance audits of each investment manager. The scope of work covers asset allocation advice, fund and manager selection, and ongoing performance monitoring relative to established benchmarks and peer universes. The selected consultant must conduct ongoing discussions with investment managers regarding performance and organizational changes, evaluate any underperformance, and formulate corrective recommendations. All work will be performed offsite, and the agency intends to establish a long-term, collaborative relationship based on trust and fiduciary capability. Only onshore organizations based in the United States are eligible to submit proposals for this opportunity. The agency is seeking competitive and transparent pricing and has not disclosed a specific budget, indicating instead that it is looking for proposals to determine the cost. The resulting contract will have a performance period of one year. Bidders must submit all questions regarding this opportunity no later than July 1, 2026.