BENEFIT FUNDING SERVICES GROUP 3 - 2008

Home Browse Search

EXHIBIT A SCOPE OF SERVICES 1. Investment Consultine Fee• $15,000 • Prepare four Quarterly Investment Analysis Reviews for 457 Deferred Compensation Plan and meet with the Plan Investment Committee up to four times . Said review shall include, but not be limited to: Mazket overview addressing the major mazkets, indices, sectors and the economic statistics affecting them; In-depth portfolio summary, including fund and benchmark returns, style analysis and overall portfolio return; Analyze the Plan asset allocation by fund and underlying sector. T1re fund lineup will also be analyzed to deternilne the amount of overlap that maybe occurring; Detailed quantitative and qualitative examination of each mutual fund investment option within the Plan, including performance numbers versus the category and index, manager style drift, risk / return, standard deviation, Sharpe ratio, expense ratio, upside and downside capture and fund allocation; • Review of City's Investment Policy Statement to ensure it is meeting the needs of the Client and the defined conhibution plan participants, and that the processes outlined within aze being adhered to; and Recommend possible fund alternatives when, in conjunction with the Investment Committee, it is determined a change in fund line-up is necessary. • Perform fund searches when necessary and make `watch list" recommendations • Assist in fund change implementations with vendor, when applicable • Prepaze annual cost analysis and negotiate with vendor to potentially lower overall costs and recapture any excess revenues on behalf of the Plan, if applicable • Draft and maintain Investment Policy Statement • Draft Committee Charter for adoption by City Council to delegate authority to Committee 2. Request for Proposal Fee• $5.000 • Negotiate with Great-West Life to recapture revenues and establish a custom Stable Value Fund, if desired by the City • Work with City to develop Request for Proposal and attend any meetings to address questions or concerns about RFP process with participants. Development of RFP shall include: • Perform a Needs Assessment defining, with the Plan Administrator and Investment Committee, the 457 and 3121 plan parameters and objectives • Set forth fiduciary and administrator responsibilities, investment policy, management of appropriate fund options and asset classes, etc. • Disseminate RFP to selected service providers upon approval from the City • Collect responses and prepaze an analysis incorporating the vendor's recordkeeping/administration capabilities; investment offerings; costs; and education /communication abilities. • Present findings to City's Plan Administrator Committee • Coordinate in-person interviews with each of City's chosen finalists. Consultant will help prepare interview questions, and will develop scorecazds to make the decision-making process efficient during the actual interviews (if applicable) • Negotiate final details on behalf of client (if applicable) • Prepare Management Letter to quantify and s»n,n,a^ze process findings • Document entire evaluation process for City's fiduciary file.