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This is a service / maintenance or supply contract in Oxnard, California. Contact the soliciting agency for additional information.

The City is requesting proposals from eligible and qualified interested parties to provide comprehensive services for the establishment, administration, and management of an IRS-approved Section 115 Trusts relating to the City's long-term obligations for Employee Pensions and Other Post-Employment Benefits (OPEB). September 5, 2024 Last day for Questions by Proposers Proposer inquiries must be submitted online Summary of Services The City is soliciting proposals from qualified firms to establish, manage, and service an Internal Revenue Service (IRS) Code Section 115 Retirement Trusts on behalf of the City, for the benefit of eligible current and former employees. Trust assets are intended to be used for funding the City's unfunded long-term pension liabilities, Other Post Employment Benefit (OPEB) obligations and potentially other eligible expenses. The objectives of the proposed trusts are to hold assets set aside to fund future pension and OPEB obligations and expenditures while providing reasonable investment returns and maximum flexibility in terms of beneficiaries of trust assets. The yield objective recognizes the need to protect the principal value of assets in the trust while also acknowledging that yields cannot be obtained without some measure of prudent risk. The selected organization will provide a full range of services, including trust administration, investment management, compliance monitoring, auditing, record-keeping, and reporting. This includes, but is not limited to, the establishment of, and ongoing fiduciary investment advice regarding, a Trust(s) for pension liabilities, OPEB obligations, and potentially other liabilities and expenses, so long as Trust assets continue to remain available to offset pension liabilities and OPEB obligations for GASB purposes. Term Description. The selected firm shall be designated as the City 's Section 115 Pension Trusts provider for a three-year (3) agreement with an option of one (1) additional two-year (2) extension under the same terms and conditions which shall automatically renew.

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Municipal

Public - City

Service, Maintenance and Supply

Plans and Specifications are not available for this project. If that changes, they will be made available here.

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September 16, 2024

November 1, 2024

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Multiple Locations, Oxnard, CA


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