Purchasing Type: Change Order (CO)
Public Hearing: YES ☐ NO ☒ Department: Purchasing & Contracting
AGENDA ITEM:
Title
Commission District(s): ALL
CO - Change Order No. 1 to Contract No. 1002598 Investment Consulting and Procurement of Record Keeping Services for 401(a) and 457 (b) Plan Requirements for use by the Department of Finance - Risk Management. This contract consists of providing investment consulting services to ensure the County offers quality sound investment options to employees. Awarded to Segal Advisors, Inc. (formerly Segal Rogerscasey). Amount Not To Exceed: $87,000.00.
Body
Information Contact: Cathryn G. Horner, Director
Phone Number: (404) 371-6334
PURPOSE:
Awarded by the BOC on September 8, 2015 for an amount not to exceed $328,000.00. This contract consists of providing investment consulting services to ensure the County offers quality sound investment options to employees. The vendor also secures investment companies to provide administration of the County’s existing Deferred Compensation 457(b) Plan and a new 401(a) Plan for employees hired after December 31, 2015. This request is to extend the contract term for one (1) year to allow time to assess and revise the scope of work for a new solicitation and contract award.
RECOMMENDATION:
Recommended Action
Recommend approval of Change Order No. 1 to extend the contract term to December 31, 2021 with:
Segal Advisors, Inc. (formerly Segal Rogerscasey), 333 West 34th Street, New York, NY 10001
Amount Not To Exceed: $87,000.00
and authorize the Chief Executive Officer to execute the change order and all associated documents.
ADDITIONAL INFORMATION:
1. Contract Effective Date: September 8, 2015
2. Contract Expiration Date: December 31, 2020
3. Amount Spent To Date: $314,167.50
4. Funding: From: Pension Plan Assets (Risk Management)
To: Defined Contribution Plan Assets (Risk Management)