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 manager. The scope of work covers asset allocations, performance monitoring, fund and manager selection, and ongoing discussions with managers regarding performance and organizational changes. The agency requires the consultant to evaluate any manager underperformance, formulate corrective recommendations, and provide peer universe information for ranking purposes. All project work will take place offsite over a contract period of one year. Eligible bidders must be onshore organizations based in the United States. 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. Bidders must submit all questions regarding this opportunity no later than July 1, 2026.