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Home My WebLink AboutRFP - P926 PUBLIC SECTOR RETIREMENT PLAN INVESTMENT CONSCity of Fort Collins Adminish ve Services Purchasing Division CITY OF FORT COLLINS ADDENDUM No. 1 SPECIFICATIONS AND CONTRACT DOCUMENTS Description of Bid: P926 Public Sector Retirement Plan & Investment Consulting OPENING DATE: March 12, 2004 - To all prospective bidders under the specifications and contract documents described above, the following changes are hereby made. ATTACHMENTS: • NEW HIRE ATTACHMENT "A" two (2) pages • OLD HIRE ATTACHMENT "A' two (2) pages 215 North Mason Street • 2nd Floor • P.O. Box 580 • Fort Collins, CO 80522-0580 • (970) 221-6775 • FAX (970) 221-6707 REVIEW AND ASSESSMENT Professional firms will be evaluated on the following criteria. These criteria will be the basis for review of the written proposals and interview session. The rating scale shall be from 1 to 5, with 1 being a poor rating, 3 being an average rating, and 5 being an outstanding rating. WEIGHTING QUALIFICATION STANDARD FACTOR 2.0 Scope of Proposal Does the proposal show an understanding of the project objective, methodology to be used and results that are desired from the project? 2.0 Assigned Personnel Do the persons who will be working on the project have the necessary skills? Are sufficient people of the requisite skills assigned to the project? 1.0 Availability Can the work be completed in the necessary time? Can the target start and completion dates be met? Are other qualified personnel available to assist in meeting the project schedule if required? Is the project team available to attend meetings as required by the Scope of Work? 1.0 Motivation Is the firm interested and are they capable of doing the work in the required time frame? 2.0 Cost and Do the proposed cost and work hours compare Work Hours favorably with the project Manager's estimate? Are the work hours presented reasonable for the effort required in each project task or phase? 2.0 Firm Capability Does the firm have the support capabilities the assigned personnel require? Has the firm done previous projects of this type and scope? Reference evaluation (Top Ranked Firm) The project Manager will check references using the following criteria. The evaluation rankings will be labeled Satisfactory/Unsatisfactory. QUALIFICATION STANDARD Overall Performance Would you hire this Professional again? Did they show the skills required by this project? Timetable Was the original Scope of Work completed within the specified time? Were interim deadlines met in a timely manner? Completeness Was the Professional responsive to client needs; did the Professional anticipate problems? Were problems solved quickly and effectively? Budget Was the original Scope of Work completed within the project budget? Job Knowledge a) If a study, did it meet the Scope of Work? b) If Professional administered a construction contract, was the project functional upon completion and did it operate properly? Were problems corrected quickly and effectively? SERVICES AGREEMENT THIS AGREEMENT made and entered into the day and yearset forth below by and between POUDRE FIRE AUTHORITY acting through its agent THE CITY OF FORT COLLINS, COLORADO, a Municipal Corporation, hereinafter referred to as the "City" and , hereinafter referred to as "Service Provider". W ITNESSETH: In consideration of the mutual covenants and obligations herein expressed, it is agreed by and between the parties hereto as follows: 1. Scope of Services. The Service Provider agrees to provide services in accordance with the scope of services attached hereto as Exhibit "A", consisting of ( ) page[s], and incorporated herein by this reference. 2. The Work Schedule. [Optional] The services to be performed pursuant to this Agreement shall be performed in accordance with the Work Schedule attached hereto as Exhibit "B", consisting of ( ) page[s], and incorporated herein by this reference. 3. Time of Commencement and Completion of Services. The services to be performed pursuant to this Agreement shall be initiated within ( ) days following execution of this Agreement. Services shall be completed no laterthan . Time is of the essence. Any extensions of the time limit set forth above must be agreed upon in a writing signed by the parties. 4. Contract Period. [Option 1] This Agreement shall commence upon the date of execution shown on the signature page of this Agreement and shall continue in full force and effect for one (1) year, unless sooner terminated as herein provided. In addition, at the option of the City, the Agreement may be extended for an additional period of one (1) year at the rates provided with written notice to the Professional mailed no later than ninety (90) days prior to contract end. 4. Contract Period. [Option 2] This Agreement shall commence 200_, and shall continue in full force and effect until , 200_, unless sooner terminated as herein provided. In addition, at the option of the City, the Agreement may be extended for additional one year periods not to exceed _ (_) additional one year periods. Pricing changes shall be negotiated by and agreed to by both parties and may not exceed the Denver - Boulder CPI-U as published by the Colorado State Planning and Budget Office. Written notice of renewal shall be provided to the Service Provider and mailed no later than ninety (90) days prior to contract end. 5. Delay. If either party is prevented in whole or in part from performing its obligations by unforeseeable causes beyond its reasonable control and without its fault or negligence, then the party so prevented shall be excused from whatever performance is prevented by such cause. To the extent that the performance is actually prevented, the Service Provider must provide written notice to the City of such condition within fifteen (15) days from the onset of such condition. [Early Termination clause here as an option. 6. Early Termination by City/Notice. Notwithstanding the time periods contained herein, the City may terminate this Agreement at any time without cause by providing written notice of termination to the Service Provider. Such notice shall be delivered at least fifteen (15) days prior to the termination date contained in said notice unless otherwise agreed in writing by the parties. All notices provided under this Agreement shall be effective when mailed, postage prepaid and sent to the following addresses: City: Service Provider: In the event of early termination by the City, the Service Provider shall be paid for services rendered to the date of termination, subject only to the satisfactory performance of the Service Provider's obligations under this Agreement. Such payment shall be the Service Provider's sole right and remedy for such termination. 7. Contract Sum. The City shall pay the Service provider for the performance of this Contract, subject to additions and deletions provided herein, the sum of ($ ) [Option Cost Breakdown is attached Exhibit "C"] Dollars 8. City Representative. The City will designate, prior to commencement of the work, its representative who shall make, within the scope of his or her authority, all necessary and proper decisions with reference to the services provided under this agreement. All requests concerning this agreement shall be directed to the City Representative. 9. Independent Service provider. The services to be performed by Service Provider are those of an independent service provider and not of an employee of the City of Fort Collins. The City shall not be responsible for withholding any portion of Service Provider's compensation hereunder for the payment of FICA, Workmen's Compensation or other taxes or benefits or for any other purpose. 10. Personal Services. It is understood that the City enters into the Agreement based on the special abilities of the Service Provider and that this Agreement shall be considered as an agreement for personal services. Accordingly, the Service Provider shall neither assign any responsibilities nor delegate any duties arising under the Agreement without the prior written consent of the City. 11. Acceptance Not Waiver. The City's approval or acceptance of, or payment for any of the services shall not be construed to operate as a waiver of any rights or benefits provided to the City under this Agreement or cause of action arising out of performance of this Agreement. 12. Warranty. (a) Service Provider warrants that all work performed hereunder shall be performed with the highest degree of competence and care in accordance with accepted standards for work of a similar nature. (b) Unless otherwise provided in the Agreement, all materials and equipment incorporated into any work shall be new and, where not specified, of the most suitable grade of their respective kinds for their intended use, and all workmanship shall be acceptable to City. (c) Service Provider warrants all equipment, materials, labor and other work, provided under this Agreement, except City -furnished materials, equipment and labor, against defects and nonconformances in design, materials and workmanship/workwomanship for a period beginning with the start of the work and ending twelve (12) months from and after final acceptance under the Agreement, regardless whether the same were furnished or performed by Service Provider or by any of its subcontractors of any tier. Upon receipt of written notice from City of any such defect or nonconformances, the affected item or part thereof shall be redesigned, repaired or replaced by Service Provider in a manner and at a time acceptable to City. 13. Default. Each and every term and condition hereof shall be deemed to be a material element of this Agreement. In the event either party should fail or refuse to perform according to the terms of this agreement, such party may be declared in default thereof. 14. Remedies. In the event a party has been declared in default, such defaulting party shall be allowed a period of ten (10) days within which to cure said default. In the event the default remains uncorrected, the party declaring default may elect to (a) terminate the Agreement and seek damages; (b) treat the Agreement as continuing and require specific performance; or (c) avail himself of any other remedy at law or equity. If the non -defaulting party commences legal or equitable actions against the defaulting party, the defaulting party shall be liable to the non - defaulting party for the non -defaulting party's reasonable attorney fees and costs incurred because of the default. 15. Binding Effect. This writing, together with the exhibits hereto, constitutes the entire agreement between the parties and shall be binding upon said parties, their officers, employees, agents and assigns and shall inure to the benefit of the respective survivors, heirs, personal representatives, successors and assigns of said parties. 16. Indemnity/Insurance. a. The Service Provider agrees to indemnify and save harmless the City, its officers, agents and employees against and from any and all actions, suits, claims, demands or liability of any character whatsoever brought or asserted for injuries to or death of any person or persons, or damages to property arising out of, result from or occurring in connection with the performance of any service hereunder. b. The Service Provider shall take all necessary precautions in performing the work hereunder to prevent injury to persons and property. c. Without limiting any of the Service Provider's obligations hereunder, the Service Provider shall provide and maintain insurance coverage naming the City as an additional insured under this Agreement of the type and with the limits specified within Exhibit _, consisting of (_) pages[s], attached hereto and incorporated herein by this reference. The Service Provider before commencing services hereunder, shall deliver to the City's Director of Purchasing and Risk Management, P. O. Box 580 Fort Collins, Colorado 80522 one copy of a certificate evidencing the insurance coverage required from an insurance company acceptable to the City. 17. Entire Agreement. This Agreement, along with all Exhibits and other documents incorporated herein, shall constitute the entire Agreement of the parties. Covenants or representations not contained in this Agreement shall not be binding on the parties. 18. Law/Severability. The laws of the State of Colorado shall govern the construction interpretation, execution and enforcement of this Agreement. In the event any provision of this Agreement shall be held invalid or unenforceable by any court of competent jurisdiction, such holding shall not invalidate or render unenforceable any other provision of this Agreement. 19. Special Provisions. [Optional] Special provisions or conditions relating to the services to be performed pursuant to this Agreement are set forth in Exhibit_, consisting of ( ) page[s], attached hereto and incorporated herein by this reference. THE POUDRE FIRE AUTHORITY ACTING POUDRE FIRE AUTHORITY THROUGH ITS AGENT BOARD OF DIRECTORS THE CITY OF FORT COLLINS BY: Dick Rayner Chairman ATTEST: City Clerk APPROVED AS TO FORM: Assistant City Attorney BY: James B. O'Neill II, CPPO, FNIGP Director of Purchasing and Risk Management Date: [Insert Professional's name] or [Insert Partnership Name] or [Insert individual's name] Doing business as [insert name of business] By: PRINT NAME CORPORATE PRESIDENT OR VICE PRESIDENT ATTEST: (Corporate Seal) CORPORATE SECRETARY EXHIBIT B INSURANCE REQUIREMENTS The Service Providerwill provide, from insurance companies acceptable to the City, the insurance coverage designated hereinafter and pay all costs. Before commencing work under this bid, the Service Provider shall furnish the City with certificates of insurance showing the type, amount, class of operations covered, effective dates and date of expiration of policies, and containing substantially the following statement: "The insurance evidenced by this Certificate will not be cancelled or materially altered, except afterten (10) days written notice has been received by the City of Fort Collins." In case of the breach of any provision of the Insurance Requirements, the City, at its option, may take out and maintain, at the expense of the Service Provider, such insurance as the City may deem proper and may deduct the cost of such insurance from any monies which may be due or become due the Service Provider under this Agreement. The City, its officers, agents and employees shall be named as additional insureds on the Service Provider's general liability and automobile liability insurance policies for any claims arising out of work performed under this Agreement. 2. Insurance coverages shall be as follows: A. Workers' Compensation & Employer's Liability. The Service Provider shall maintain during the life of this Agreement for all of the Service Provider's employees engaged in work performed under this agreement: 1. Workers' Compensation insurance with statutory limits as required by Colorado law. 2. Employer's Liability insurance with limits of $100,000 per accident, $500,000 disease aggregate, and $100,000 disease each employee. B. Commercial General & Vehicle Liability. The Service Provider shall maintain during the life of this Agreement such commercial general liability and automobile liability insurance as will provide coverage for damage claims of personal injury, including accidental death, as well as for claims for property damage, which may arise directly or indirectly from the performance of work under this Agreement. Coverage for property damage shall be on a "broad form" basis. The amount of insurance for each coverage, Commercial General and Vehicle, shall not be less than $500,000 combined single limits for bodily injury and property damage. In the event any work is performed by a subcontractor, the Service Provider shall be responsible for any liability directly or indirectly arising out of the work performed under this Agreement by a subcontractor, which liability is not covered by the subcontractor's insurance. 03 AmIANIOCOUS An .,*.. wig I. _ . .. Cap . :E )tm-KwWan 00=14M Fund ' .. 1'. e .73 Dryden 0 Cote Equb '.ate Janus Fund $425�868.35 •MusaahUSeft F6 to W i Franldln Eauhy Income Fund S33'4688,12 aw..$4,197,72034 Mona~Asaata i Frankin -■ yr oWltl FUrIO 5 .s `. i' jenflooftmSIEMMOV Y L.M_E Se E SA. Fizaa Income $1,U6,28CU LIV GC- Atnl. Ratum Fro $893.335.05 Crack 5uisw GI�I Fu.(p# IryIrvorne Fund $319,w ,19 Qng&n Governmg .1ncomx a Fund $183,627.89 Inkmaii,onall Equity $IAMS GB c Partners kUrnatlonW Vvlua_Fund S$59,M.69 Stand Repom Pagc 2 or 2 New Hire Attacbmaut A T@Mpjkton Foreign FUM fQ32,900,39 Other Equity $262AS3.78 Seligman commdnlearkn & Info Fund $1381589.13 MESAtlli $124,MA5 wrpm Fri I I = P-Am I of 2 rrp,� OLD IME ATTACHMM A AMMNW Large Cap Sacks 13,180"851M jMnlmn Grump Fund $1,164295-63 DudmStock Index Et W SM3,842-48 Van KaMM OOMWCk Fund $435.348-20 4anw_EVjW $1 77,777.28 .Core Equity 6ecoukit S160,72SAO nN-Gf-OWlh,F'Und of AfMrira 5122.9112i Davis Ny,.YAnWM-Earl $104.710-72 PRIDEX M.864M Mn MaNaChUeetta MVWt= Trv* $15<374-66 StabAe ValualMoney Nkarkat $2,6$7,IWM Prudential GLmranm gjn� Aowtmi $2,845.706.76 Mod Irmonn SIA5(%92L70 EI-W,C�O TOMI Retum Fund $1,3670948.79 ,Cym*it It. ", Oalob;ol F-mlinumm Fund W.SM,49 n Ow 4overnmw hoomG Fund $40,153,42 SmaIgUld Cap Sftcke $1,M187.61 MIDCAP =,779,69 Np2tqMo—rFkoTwn Gonoole TnM Fund S404,477.55 EvwMn Sffk4jj-Mwd 6! 6rowth F SM,602.54 Emwjngj�wwth Fund S16,167.53 Balanced Invembeento $1 MAWAO DQ&I@n Axtive Ak=aIiCjn Ft" S743,703-15 AM0602n ElalftMod Fund $28.4,544.25 Intmodomal Equity smiga.85 $�categicl PaI International Value Fund $623,564.36 Standard Reports Page 2 of 2 Oil HIRE ATTACBMT A Mar Equity 111%628M MES U6ldita Fund 32,94&16 Seltoman Communlc"m & Into Fund T6198d.82 Ai71 ctoupyallAlls Ilia Pnwlcndal Inuw=m Ctwnpmy M Artafhmar PMMPM Ppii.. t "fk, ►1J 071 =4M. AN WNi MUrWO. RECEIPT OF THIS ADDENDUM MUST BE ACKNOWLEDGED BY A WRITTEN STATEMENT ENCLOSED WITH THE BID/QUOTE STATING THAT THIS ADDENDUM HAS BEEN RECEIVED. City of Fort Collins Administr. ✓e Services Purchasing Division REQUEST FOR PROPOSAL CITY OF FORT COLLINS Proposal Number P926 Public Sector Retirement Plan and Investment Consulting The City of Fort Collins is seeking proposals on behalf of the Poudre Fire Authority from highly qualified, independent professionals to provide expert 401a pension plan evaluation. Written proposals, six (6) will be received at the City of Fort Collins' Purchasing Division, 215 North Mason St., 2nd floor, Fort Collins, Colorado 80524. Proposals will be received before 3:00 p.m. (our clock), March 12, 2004. Proposal No. P-926. If delivered, they are to be sent to 215 North Mason Street, 2"d Floor, Fort Collins, Colorado 80524. If mailed, the address is P.O. Box 580, Fort Collins, 80522-0580. Questions concerning the scope of the project should be directed to Project Manager Guy Boyd, (970) 221-6570. Questions regarding proposals submittal or process should be directed to James B. O'Neill, II, CPPO, FNIGP (970) 221-6775. A copy of the Proposal may be obtained as follows: Call the Purchasing Fax -line, 970-416-2033 and follow the verbal instruction to request document #30926. 2. Download the Proposal/Bid from the Purchasing Webpage, www.fcqov.com/purchasing. 3. Come by Purchasing at 215 North Mason St., 2"d floor, Fort Collins, and request a copy of the Bid. Sales Prohibited/Conflict of Interest: No officer, employee, or member of City Council, shall have a financial interest in the sale to the City of any real or personal property, equipment, material, supplies or services where such officer or employee exercises directly or indirectly any decision - making authority concerning such sale or any supervisory authority over the services to be rendered. This rule also applies to subcontracts with the City. Soliciting or accepting any gift, gratuity favor, entertainment, kickback or any items of monetary value from any person who has or is seeking to do business with the City of Fort Collins is prohibited. Collusive or sham proposals: Any proposal deemed to be collusive or a sham proposal will be rejected and reported to authorities as such. Your authorized signature of this proposal assures that such proposal is genuine and is not a collusive or sham proposal. The City of Fort Collins reserves the right to reject any and all proposals and to waive any irregularities or informalities. Si erely, es B. O'Neill II, CPPO, FNIGP Dir ctor of Purchasing & Risk Management 215 North Mason Street • 2nd Floor • P.O. Box 580 • Fort Collins, CO 80522-0580 • (970) 221-6775 • FAX (970) 221-6707 CITY OF FORT COLLINS Proposal Number P926 Public Sector Retirement Plan and Investment Consulting Purpose: The Boards of Trustees, of the Poudre Fire Authority New Hire Money Purchase Pension Plan and the Poudre Fire Authority Old Hire Money Purchase Pension Plan, strive to provide plan participants with low cost, high quality investment performance, and plan administration. Therefore, the Boards' have issued this RFP to obtain proposals from highly qualified, independent professionals to provide expert 401a pension plan evaluation. Qualifications: RFP respondents need to provide professional credentials as proof of their ability to provide this service. References must also be provided. Timeline: The consultant will provide an electronic version of their report by July 1, 2004. Scope of Services: I. The consultant shall provide a thorough evaluation of Prudential Investments as compared to other 401a pension plan providers including Fire and Police Pension Association in the following areas: 1. Record keeping and administration 2. Regulatory services including an overview of compliance with all relevant IRS, DOL, and State of Colorado regulations. 3. Participant loan management 4. Reporting capabilities including individual participant statements and overall plan performance 5. Quality of internet site and participant access 6. Quality of voice call centers 7. Communication and education programs 8. Capabilities of hardware and software systems to administer the plans 9. Type of investment vehicles offered. Include quality control and oversight of investments, including but not limited to, plan sponsor's investment policy 10. Trustee services including a comparative analysis of trustee services provided compared to industry recognized best practices 11. Detailed breakdown and evaluation of all expenses and fees related to plan administration. 12. Benefit and payout counseling. 13. Revenue sharing II. Plan participant satisfaction survey Plan Sponsor Information Plan Sponsor Name Poudre Fire Authority Address 102 Remington Fort Collins CO 80524 Contact Person to answer questions and Guy Boyd, Director of Administrative phone number, e-mail, etc. Services Gboyd@frii.com 970-221-6570 Type of Business (Corporation, Partnership Corporation or Proprietorship Industry Public Safety Part of controlled group or affiliated service 1 group? If so, how many companies involved? Participant turnover rate 4% Plan Information Name and type of plan (401(k), profit Restated Poudre Fire Authority New Hire sharing, money purchase, thrift/savings, Money Purchase Pension Plan and Trust combination, etc. Agreement (401 a) Restated Poudre Fire Authority Old Hire Money Purchase Pension Plan and Trust Agreement 401 a Who has investment direction for employee Participant and employer contributions? (Plan Sponsor, Trustee, or Participant) Type of Plan document (Prototype or Individually -designed Individually -designed) Plan Operation Information Name of current recordkeeper or service City of Fort Collins provider Name of current custodial trustee(s) Old Hire Board of Trustees External or Self -directed New Hire Board of Trustees Frequency of data remittance Biweekly 26 pay periods) Method of data remittance (Paper, Disk, On-line Tape, Modem, On-line Method of contribution remittance (Check, Bank Wire Bank Wire, Automated Clearing House Name of payroll company City of Fort Collins Are contributions submitted through a Single payroll, 26 pay periods single payroll or multiple? If multiple, how many? Plan Investment Information Amount of existing assets and as of what $31,627,427.92 date? Percent of existing assets held by 3.4% held by inactive/retired participants inactive/retired members? Breakdown assets by class and investment See Attachment A vehicle Identify investment limitation (i.e. company N/A match made only incompany stock, etc. Loan information (if applicable) # of outstanding loans: 46 Amount of outstanding loans:$737,235 # of new loans per year: 10 Minimum loan amount: $1,000 # of loan participant may have at once: 3 Plan Contribution Information Amount of gross annual contributions for prior Total employer contributions: $675,487.14 year Total employee contributions: $938,591.86 Total qross contributions: $1,614,079.00 Amount of net annual contributions for prior Total gross contributions: $1,614,079.00 year Less total distributions: Total net contributions: $1,614,079.00 Employee Information Location (City/State) Total Employees Eligible Employees Participating Employees Old Hires (Fort 18 18 18 Collins, Colorado New Hires (Fort 123 123 123 Collins, Colorado TOTAL 141 141 141 Additional Information: The following documents are available for download on the City of Fort Collins Public Records page located at: http://citydocs.fcgov.com/ . Search using "P926", and then scroll down to "Purchasing Documents" to locate the records that match to your search. Document 1: Investment Policy Document 2: Old Hire Restatement Document 3: Old Hire 1 s` Amendment Document 4: Old Hire 2nd Amendment Document 5: Old Hire 3rd Amendment Document 6: New Hire Restatement Document 7: New Hire 15' Amendment Document 8: New Hire 2"d Amendment Document 9: New Hire 3rd Amendment