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HomeMy WebLinkAboutRFP - 8692 PENSION CONSULTANT & CO-FIDUCIARY FOR PFA (2)RFP 8692 Pension Consultant & Co-fiduciary for PFA Page 1 of 18 REQUEST FOR PROPOSAL 8692 PENSION CONSULTANT & CO-FIDUCIARY FOR PFA The City of Fort Collins, on behalf of the Poudre Fire Authority, is requesting proposals from qualified firms to provide expert pension advice for investment choices, including acting as a Co-fiduciary of the plan. As part of the City’s commitment to Sustainable Purchasing, proposals submission via email is preferred. Proposals shall be submitted in a single Microsoft Word or PDF file under 20MB and e-mailed to: purchasing@fcgov.com. If electing to submit a hard copy proposal instead, one (1) hard copy and one (1) electronic copy on a jump drive, will be received at the City of Fort Collins' Purchasing Division, 215 North Mason St., 2nd floor, Fort Collins, Colorado 80524. Proposals must be received before 3:00 p.m. (our clock), February 23, 2018 and referenced as Proposal No. 8692. If delivered, they are to be sent to 215 North Mason Street, 2nd Floor, Fort Collins, Colorado 80524. If mailed, the address is P.O. Box 580, Fort Collins, 80522-0580. Please note, additional time is required for proposals mailed to the PO Box to be received at the Purchasing Office. The City encourages all Disadvantaged Business Enterprises (DBEs) to submit proposals in response to all requests for proposals. No individual or business will be discriminated against on the grounds of race, color, sex, or national origin. It is the City’s policy to create a level playing field on which DBEs can compete fairly and to ensure nondiscrimination in the award and administration of all contracts. Questions concerning the scope of the bid should be directed to Project Manager, Ann Turnquist, at aturnquist@poudre-fire.org. Questions regarding bid submittal or process should be directed to Beth Diven, Buyer at (970) 221-6216 or bdiven@fcgov.com. All questions must be submitted in writing via email to Kirsten Howard, with a copy to Beth Diven, no later than 5:00 PM our clock on February 14, 2018. Questions received after this deadline will not be answered. Responses to all questions submitted before the deadline will be addressed in an addendum and posted on the Rocky Mountain E-Purchasing System webpage. Commodity Codes used for this RFP: 918-49 Finance/Economics Consulting 946-12 Actuarial Services and Retirement Planning 946-48 Financial Advisor A copy of the RFP may be obtained at http://www.bidnetdirect.com/colorado/city-of-fort-collins. The City of Fort Collins is subject to public information laws, which permit access to most records and documents. Proprietary information in your response must be clearly identified and will be protected to the extent legally permissible. Proposals may not be marked ‘Proprietary’ in Financial Services Purchasing Division 215 N. Mason St. 2nd Floor PO Box 580 Fort Collins, CO 80522 970.221.6775 970.221.6707 fcgov.com/purchasing RFP 8692 Pension Consultant & Co-fiduciary for PFA Page 2 of 18 their entirety. All provisions of any contract resulting from this request for proposal will be public information. New Vendors: The City requires new vendors receiving awards from the City to fill out and submit an IRS form W-9 and to register for Direct Deposit (Electronic) payment. If needed, the W-9 form and the Vendor Direct Deposit Authorization Form can be found on the City’s Purchasing website at www.fcgov.com/purchasing under Vendor Reference Documents. 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. Utilization of Award by Other Agencies: The City of Fort Collins reserves the right to allow other state and local governmental agencies, political subdivisions, and/or school districts to utilize the resulting award under all terms and conditions specified and upon agreement by all parties. Usage by any other entity shall not have a negative impact on the City of Fort Collins in the current term or in any future terms. Sustainability: Consulting firms/teams participating in the proposal are to provide an overview of the organization’s philosophy and approach to Sustainability. In no more than two (2) pages please describe how your organization strives to be sustainable in the use of materials, equipment, vehicles, fuel, recycling, office practices, etc. The City of Fort Collins incorporates the Triple Bottom Line into our decision process by including economic (or financial), environmental, and social factors in our evaluation. The selected Service Provider shall be expected to sign the City’s standard Agreement without revision prior to commencing Services (see sample attached to this Proposal). Sincerely, Gerry Paul Purchasing Director RFP 8692 Pension Consultant & Co-fiduciary for PFA Page 3 of 18 REQUEST FOR PROPOSALS 8692 PENSION CONSULTANT & CO-FIDUCIARY FOR PFA I. OVERVIEW Purpose The Poudre Fire Authority Old Hire and New Hire Boards of Trustees strive to provide plan participants with low cost, high quality investment options, and plan administration. Therefore, the City of Fort Collins, on behalf of the Boards, has issued this Request for Proposals for a highly qualified, independent professional(s) to provide expert Pension advice for investment choices, including acting as a Co-fiduciary of the plan. ICMARC is the current administrator and holds the investment assets. This relationship will continue, and the consultant is not intended to replace ICMARC. Timeline If selected, the consultant may begin providing services in mid March 2018. II. SCOPE OF SERVICES: • Establish and maintain a positive working relationship with our plan administrator – ICMARC. • Review current fund line-up and recommend changes to improve investment performance using best in class approach, true fund diversity, and cost value. • Chosen professional is to serve as an advisor to the board providing subject matter expertise in the areas of fund management and participant education. The successful candidate must be willing to become a Co-fiduciary of the plan encompassing their scope of work. • Assist in the development of investment strategy seeking to improve investment return and cost value. Develop an investment oversight/review process for fund performance with a replacement plan. Provide fund replacement recommendations to the Board. • Provide a method for due-diligence on funds outside the ICMARC fund line-up. • Develop a plan to determine plan members investment goals and retirement needs. • Provide a quarterly report for each plan member addressing fund performance. The report should benchmark to the recipient’s goals and needs. Recommendations to achieve goals should be provided. • Attend quarterly Pension Board meetings held on the fourth Wednesday of January, April, July and October in Fort Collins, CO. • Develop and recommend a participant educational plan that includes a policy statement, goals and measurable objectives. RFP 8692 Pension Consultant & Co-fiduciary for PFA Page 4 of 18 III. PLAN INFORMATION Plan Sponsor Information Plan Sponsor Name Poudre Fire Authority Address 102 Remington Fort Collins CO 80524 Contact Person to answer questions and phone number, e-mail, etc. Kirsten Howard, Senior Budget & Board Coordinator khoward@poudre-fire.org 970-416-2834 Type of Business (Corporation, Partnership, Government, or Proprietorship) Government Industry Public Safety Part of controlled group or affiliated service group? If so, how many companies involved? 1 Plan Information Name and type of plan (401(k), profit sharing, money purchase, thrift/savings, combination, etc. Restated Poudre Fire Authority New Hire Money Purchase Pension Plan and Trust Agreement (401a) Restated Poudre Fire Authority Old Hire Money Purchase Pension Plan and Trust Agreement (401a) Who has investment direction for employee and employer contributions? (Plan Sponsor, Trustee, or Participant) Participant Type of Plan document (Prototype or Individually- designed) Individually-designed Plan Operation Information Name of current recordkeeper or service provider ICMARC Name of current custodial trustee(s) (External or Self-directed) Old Hire Board of Trustees New Hire Board of Trustees Frequency of data remittance Biweekly (26 pay periods) Method of data remittance (Paper, Disk, Tape, Modem, On-line) On-line RFP 8692 Pension Consultant & Co-fiduciary for PFA Page 5 of 18 Method of contribution remittance (Check, Bank Wire, Automated Clearing House) Bank Wire Name of payroll company City of Fort Collins Are contributions submitted through a single payroll or multiple? If multiple, how many? Single payroll, 26 pay periods Employee Information Plan Total Participants Plan Number Assets Old Hire 14 106042 $11,048,710 New Hire 221 106043 $75,889,225 Total 211 N/A $86,937,935 IV. 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 any interview session. Firms may be selected solely on the basis of the written proposal without an interview, at the discretion of the Boards. 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 FACTOR QUALIFICATION STANDARD 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 Work Hours Do the proposed cost and work hours compare favorably with the project Manager's estimate? Are the work hours presented reasonable for the effort required in each project task or phase? RFP 8692 Pension Consultant & Co-fiduciary for PFA Page 6 of 18 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 RATED 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? V. PROPOSAL SUBMITTAL Qualified vendors interested in the work described should submit as a minimum the following information: • Letter of interest • Outline of qualifications and professional credentials evidencing the ability to provide the described services. • Example of investment line-up performance report that details methodology and outcomes that vendor plans to use if selected. • Timeline for initial fund review and change implementation (if any) and investment strategy. • General availability • Cost detail itemizing services • Three references for work involving plans with more than $100 million in assets, including size of plans and tenure in advising such plans. • Signed Vendor Statement RFP 8692 Pension Consultant & Co-fiduciary for PFA Page 7 of 18 VI. VENDOR STATEMENT Vendor hereby acknowledges receipt of the City of Fort Collins Request for Proposal and acknowledges that it has read and agrees to be fully bound by all of the terms, conditions and other provisions set forth in the RFP. Additionally, Vendor hereby makes the following representations to City: a. All of the statements and representations made in this proposal are true to the best of the Vendor’s knowledge and belief. b. Vendor commits that it is able to meet the terms provided in this proposal. c. This proposal is a firm and binding offer, for a period of 90 days from the date hereof. d. Vendor further agrees that the method of award is acceptable. e. Vendor also agrees to enter into the City’s Service Agreement (sample attached) and submit proof of insurance naming the City of Fort Collins additional insured within 30 days of notice of award. f. If the Service Agreement is not completed and signed within 30 days, City reserves the right to cancel and award to the next highest rated firm. g. Vendor acknowledge receipt of addenda. Firm Name: Physical Address: Remit to Address: Phone: Authorized Agent of Firm Name: Signature of Authorized Agent: Primary Contact for Project: Title: Email Address: Phone: Cell Phone: NOTE: VENDOR STATEMENT IS TO BE SIGNED & RETURNED WITH YOUR PROPOSAL. RFP 8692 Pension Consultant & Co-fiduciary for PFA Page 8 of 18 VII. SAMPLE AGREEMENT – FOR REFERENCE ONLY – DO NOT SIGN PROFESSIONAL SERVICES AGREEMENT THIS AGREEMENT made and entered into the day and year set forth below, by and between THE CITY OF FORT COLLINS, COLORADO, a Municipal Corporation, hereinafter referred to as the "City", as agent, on behalf of the POUDRE FIRE AUTHORITY (PFA and , hereinafter referred to as the "Professional". WITNESSETH: 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 Professional 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. Irrespective of references in Exhibit A to certain named third parties, the Professional shall be solely responsible for performance of all duties hereunder. 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. Contract Period. This Agreement shall commence , 20 , and shall continue in full force and effect until , 20 , 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 four (4) additional one year periods. Renewals and pricing changes shall be negotiated by and agreed to by both parties. Written notice of renewal shall be provided to the Professional and mailed no later than thirty (30) days prior to contract end. 4. Early Termination by City. Notwithstanding the time periods contained herein, the City and/or PFA may terminate this Agreement at any time without cause by providing written notice of termination to the Professional. 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: Professional: PFA: Copy to City: Attn: Poudre Fire Authority Attn: 102 Remington Street Fort Collins, CO 80524 City of Fort Collins Attn: Purchasing Dept. PO Box 580 Fort Collins, CO 80522 In the event of any such early termination by the City and/or PFA, the Professional shall be RFP 8692 Pension Consultant & Co-fiduciary for PFA Page 9 of 18 paid for services rendered prior to the date of termination, subject only to the satisfactory performance of the Professional's obligations under this Agreement. Such payment shall be the Professional's sole right and remedy for such termination. 5. Design, Project Indemnity and Insurance Responsibility. The Professional shall be responsible for the professional quality, technical accuracy, timely completion and the coordination of all services rendered by the Professional, including but not limited to designs, plans, reports, specifications, and drawings and shall, without additional compensation, promptly remedy and correct any errors, omissions, or other deficiencies. The Professional shall indemnify, save and hold harmless the City and/or PFA, its officers and employees in accordance with Colorado law, from all damages whatsoever claimed by third parties against the City and/or PFA; and for the City and/or PFA's costs and reasonable attorney’s fees, arising directly or indirectly out of the Professional's negligent performance of any of the services furnished under this Agreement. The Professional shall maintain insurance in accordance with Exhibit , consisting of one (1) page, attached hereto and incorporated herein. 6. Compensation. [Use this paragraph or Option 1 below.] In consideration of the services to be performed pursuant to this Agreement, the City and/or PFA agrees to pay the Professional a fixed fee in the amount of ($ ) plus reimbursable direct costs. All such fees and costs shall not exceed ($ ) in accordance with Exhibit , consisting of ( ) page(s), attached hereto and incorporated herein. Monthly partial payments based upon the Professional's billings and itemized statements are permissible. The amounts of all such partial payments shall be based upon the Professional's City and/or PFA-verified progress in completing the services to be performed pursuant hereto and upon the City and/or PFA's approval of the Professional's actual reimbursable expenses. Final payment shall be made following acceptance of the Work by the City and/or PFA. Upon final payment, all designs, plans, reports, specifications, drawings, and other services rendered by the Professional shall become the sole property of the City and/or PFA. 7. Compensation. [Option 1] In consideration of the services to be performed pursuant to this Agreement, the City and/or PFA agrees to pay the Professional on a time and reimbursable direct cost basis in accordance with Exhibit , consisting of ( ) page(s), attached hereto and incorporated herein, with maximum compensation (for both Professional's time and reimbursable direct costs) not to exceed ($ ). Monthly partial payments based upon the Professional's billings and itemized statements of reimbursable direct costs are permissible. The amounts of all such partial payments shall be based upon the Professional's City and/or PFA-verified progress in completing the services to be performed pursuant hereto and upon the City and/or PFA's approval of the Professional's reimbursable direct costs. Final payment shall be made following acceptance of the Work by the City and/or PFA. Upon final payment, all designs, plans, reports, specifications, drawings and other services rendered by the Professional shall become the sole property of the City and/or PFA. RFP 8692 Pension Consultant & Co-fiduciary for PFA Page 10 of 18 8. License. Upon execution of this Agreement, the Professional grants to the City and/or PFA an irrevocable license to use any and all sketches, drawings, specifications, designs, blueprints, data files, calculations, studies, analysis, renderings, models and other Work Order deliverables (the “Instruments of Service”), in any form whatsoever and in any medium expressed, for purposes of constructing, using, maintaining, altering and adding to the project, provided that the City and/or PFA substantially performs its obligations under the Agreement. The license granted hereunder permits the City and/or PFA and third parties reasonably authorized by the City and/or PFA to reproduce applicable portions of the Instruments of Service for use in performing services or construction for the project. In addition, the license granted hereunder shall permit the City and/or PFA and third parties reasonably authorized by the City and/or PFA to reproduce and utilize the Instruments of Service for similar projects, provided however, in such event the Professional shall not be held responsible for the design to the extent the City and/or PFA deviates from the Instruments of Service. This license shall survive termination of the Agreement by default or otherwise. 9. City and/or PFA Representative. The City and/or PFA will designate, prior to commencement of work, its project representative who shall make, within the scope of his or her authority, all necessary and proper decisions with reference to the project. All requests for contract interpretations, change orders, and other clarification or instruction shall be directed to the City and/or PFA Representative. 10. Project Drawings. Upon request and before final payment, the Professional shall provide the City and/or PFA with reproducible drawings of the project containing accurate information on the project as constructed. Drawings shall be of archival quality, prepared on stable mylar base material using a non-fading process to provide for long storage and high quality reproduction. "CD" disc of the as-built drawings shall also be submitted to the owner in and AutoCAD version no older then the established City and/or PFA standard. The Professional acknowledges the City and/or PFA is a governmental entity subject to the Colorado Open Records Act, C.R.S. §§ 24-72-200.1, et seq. (the “CORA”), and documents in the City and/or PFA’s possession may be considered public records subject to disclosure under the CORA. 11. Monthly Report. Commencing thirty (30) days after the date of execution of this Agreement and every thirty (30) days thereafter, Professional is required to provide the City and/or PFA Representative with a written report of the status of the work with respect to the Scope of Services, Work Schedule, and other material information. Failure to provide any required monthly report may, at the option of the City and/or PFA, suspend the processing of any partial payment request. 12. Independent Contractor. The services to be performed by Professional are those of an independent contractor and not of an employee of the City of Fort Collins or Poudre Fire Authority. The City and/or PFA shall not be responsible for withholding any portion of Professional's compensation hereunder for the payment of FICA, Workers' Compensation, other taxes or benefits or for any other purpose. RFP 8692 Pension Consultant & Co-fiduciary for PFA Page 11 of 18 13. Subcontractors. The Professional may not subcontract any of the Work set forth in the Exhibit A, Statement of Work without the prior written consent of the City and/or PFA, which shall not be unreasonably withheld. If any of the Work is subcontracted hereunder (with the consent of the City and/or PFA), then the following provisions shall apply: (a) the subcontractor must be a reputable, qualified firm with an established record of successful performance in its respective trade performing identical or substantially similar work, (b) the subcontractor will be required to comply with all applicable terms of this Agreement, (c) the subcontract will not create any contractual relationship between any such subcontractor and the City and/or PFA, nor will it obligate the City and/or PFA to pay or see to the payment of any subcontractor, and (d) the Work of the subcontractor will be subject to inspection by the City and/or PFA to the same extent as the Work of the Professional. The Professional shall require all subcontractors performing Work hereunder to maintain insurance coverage naming the City and PFA as an additional insured under this Agreement of the type and with the limits specified within Exhibit “C”, consisting of one (1) page attached hereto and incorporated herein by this reference. The Professional shall maintain a copy of each subcontract’s certificate evidencing the required insurance. Upon request, the Professional shall promptly provide the City and PFA with a copy of such certificate(s). 14. Personal Services. It is understood that the City and PFA enter into the Agreement based on the special abilities of the Professional and that this Agreement shall be considered as an agreement for personal services. Accordingly, the Professional shall neither assign any responsibilities nor delegate any duties arising under the Agreement without the prior written consent of the City and/or PFA. 15. Acceptance Not Waiver. The City and/or PFA's approval of drawings, designs, plans, specifications, reports, and incidental work or materials furnished hereunder shall not in any way relieve the Professional of responsibility for the quality or technical accuracy of the Work. The City and/or PFA'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 and/or PFA under this Agreement. 16. 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. 17. 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. RFP 8692 Pension Consultant & Co-fiduciary for PFA Page 12 of 18 18. 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. 19. 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. 20. Prohibition Against Employing Illegal Aliens. Pursuant to Section 8-17.5-101, C.R.S., et. seq., the Professional represents and agrees that: a. As of the date of this Agreement: 1. The Professional does not knowingly employ or contract with an illegal alien who will perform work under this Agreement; and 2. The Professional will participate in either the e-Verify program created in Public Law 208, 104th Congress, as amended, and expanded in Public Law 156, 108th Congress, as amended, administered by the United States Department of Homeland Security (the “e-Verify Program”) or the Department Program (the “Department Program”), an employment verification program established pursuant to Section 8- 17.5-102(5)(c) C.R.S. in order to confirm the employment eligibility of all newly hired employees to perform work under this Agreement. b. The Professional shall not knowingly employ or contract with an illegal alien to perform work under this Agreement or knowingly enter into a contract with a subcontractor that knowingly employs or contracts with an illegal alien to perform work under this Agreement. c. The Professional is prohibited from using the e-Verify Program or Department Program procedures to undertake pre-employment screening of job applicants while this Agreement is being performed. d. If the Professional obtains actual knowledge that a subcontractor performing work under this Agreement knowingly employs or contracts with an illegal alien, the Professional shall: 1. Notify such subcontractor and the City and PFA within three days that the Professional has actual knowledge that the subcontractor is employing or contracting with an illegal alien; and 2. Terminate the subcontract with the subcontractor if within three days of receiving the notice required pursuant to this section the subcontractor does not cease employing or contracting with the illegal alien; except that the Professional shall not terminate the contract with the subcontractor if during such three days the subcontractor provides information to establish that the subcontractor has not knowingly employed RFP 8692 Pension Consultant & Co-fiduciary for PFA Page 13 of 18 or contracted with an illegal alien. e. The Professional shall comply with any reasonable request by the Colorado Department of Labor and Employment (the “Department”) made in the course of an investigation that the Department undertakes or is undertaking pursuant to the authority established in Subsection 8-17.5-102 (5), C.R.S. f. If the Professional violates any provision of this Agreement pertaining to the duties imposed by Subsection 8-17.5-102, C.R.S. the City and/or PFA may terminate this Agreement. If this Agreement is so terminated, the Professional shall be liable for actual and consequential damages to the City and/or PFA arising out of the Professional’s violation of Subsection 8-17.5-102, C.R.S. g. The City and/or PFA will notify the Office of the Secretary of State if the Professional violates this provision of this Agreement and the City and/or PFA terminates the Agreement for such breach. 21. Special Provisions. Special provisions or conditions relating to the services to be performed pursuant to this Agreement are set forth in Exhibit - Confidentiality, consisting of one (1) page, attached hereto and incorporated herein by this reference. RFP 8692 Pension Consultant & Co-fiduciary for PFA Page 14 of 18 THE CITY OF FORT COLLINS, COLORADO By: Gerry Paul Purchasing Director DATE: POUDRE FIRE AUTHORITY By: _________________________________ Tom DeMint, Fire Chief Date: ______________________________ ATTEST: APPROVED AS TO FORM: PROFESSIONAL'S NAME By: Printed: Title: CORPORATE PRESIDENT OR VICE PRESIDENT Date: RFP 8692 Pension Consultant & Co-fiduciary for PFA Page 15 of 18 EXHIBIT A SCOPE OF SERVICES Official Purchasing Document Last updated 10/2017 RFP 8692 Pension Consultant & Co-fiduciary for PFA Page 16 of 18 EXHIBIT (BID SCHEDULE/COMPENSATION) Official Purchasing Document Last updated 10/2017 RFP 8692 Pension Consultant & Co-fiduciary for PFA Page 17 of 18 EXHIBIT INSURANCE REQUIREMENTS 1. The Professional will provide, from insurance companies acceptable to the City and/or PFA, the insurance coverage designated hereinafter and pay all costs. Before commencing Work under this bid, the Professional shall furnish the City and PFA 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 reduce coverage or limits and will not be cancelled, except after thirty (30) 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 and/or PFA, at its option, may take out and maintain, at the expense of the Professional, such insurance as the City and/or PFA may deem proper and may deduct the cost of such insurance from any monies which may be due or become due the Professional under this Agreement. The City, PFA, their officers, agents and employees shall be named as additional insureds on the Professional '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 Professional shall maintain during the life of this Agreement for all of the Professional'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 Professional 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 $1,000,000 combined single limits for bodily injury and property damage. In the event any Work is performed by a subcontractor, the Professional 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. C. Errors & Omissions. The Professional shall maintain errors and omissions insurance in the amount of $1,000,000. Official Purchasing Document Last updated 10/2017 RFP 8692 Pension Consultant & Co-fiduciary for PFA Page 18 of 18 EXHIBIT CONFIDENTIALITY IN CONNECTION WITH SERVICES provided to the City of Fort Collins (the “City”) and Poudre Fire Authority (the “PFA”) pursuant to this Agreement (the “Agreement”), the Professional hereby acknowledges that it has been informed that the City and PFA have established policies and procedures with regard to the handling of confidential information and other sensitive materials. In consideration of access to certain information, data and material (hereinafter individually and collectively, regardless of nature, referred to as “information”) that are the property of and/or relate to the City, PFA or their employees, customers or suppliers, which access is related to the performance of services that the Professional has agreed to perform, the Professional hereby acknowledges and agrees as follows: That information that has or will come into its possession or knowledge in connection with the performance of services for the City and PFA may be confidential and/or proprietary. The Professional agrees to treat as confidential (a) all information that is owned by the City and PFA, or that relates to the business of the City and PFA, or that is used by the City and PFA in carrying on business, and (b) all information that is proprietary to a third party (including but not limited to customers and suppliers of the City and/or PFA). The Professional shall not disclose any such information to any person not having a legitimate need-to-know for purposes authorized by the City and/or PFA. Further, the Professional shall not use such information to obtain any economic or other benefit for itself, or any third party, except as specifically authorized by the City and/or PFA. The foregoing to the contrary notwithstanding, the Professional understands that it shall have no obligation under this Agreement with respect to information and material that (a) becomes generally known to the public by publication or some means other than a breach of duty of this Agreement, or (b) is required by law, regulation or court order to be disclosed, provided that the request for such disclosure is proper and the disclosure does not exceed that which is required. In the event of any disclosure under (b) above, the Professional shall furnish a copy of this Agreement to anyone to whom it is required to make such disclosure and shall promptly advise the City and PFA in writing of each such disclosure. In the event that the Professional ceases to perform services for the City and PFA, or the City and/or PFA so requests for any reason, the Professional shall promptly return to the City and PFA any and all information described hereinabove, including all copies, notes and/or summaries (handwritten or mechanically produced) thereof, in its possession or control or as to which it otherwise has access. The Professional understands and agrees that the City and PFA’s remedies at law for a breach of the Professional’s obligations under this Confidentiality Agreement may be inadequate and that the City and PFA shall, in the event of any such breach, be entitled to seek equitable relief (including without limitation preliminary and permanent injunctive relief and specific performance) in addition to all other remedies provided hereunder or available at law.