INVESTMENT CONSULTING SERVICES FOR TRUST FUNDS

The RFP shall be made available by emailing a request to Brendan.Killarney@boston.gov commencing at 12:00 p.m. Eastern Daylight Time (“EDT”) on October 14, 2025. Requests shall include a Requestor's contact name, contact email, contact phone number, firm name and firm mailing address. The RFP shall remain available until the time specified below for the submission of proposals. Questions regarding the RFP should be delivered in the manner specified under the heading “Proposals Submission Specifications and Deadline,” in the RFP. Sealed proposals shall be submitted in the manner provided for below, in accordance with the RFP.

The Consultant’s responsibilities with respect to the Trust Funds shall include, but not be limited to, the following: (1) recommending general investment policies and procedures; (2) preparing annual asset allocation plans; (3) preparing annual asset optimization plans; (4) attending trustee board meetings in Boston upon request; (4) performing general research and analysis, and providing advice on specific matters relating to the administration and operation of the Trust Funds, upon request; (5) preparing quarterly reports evaluating the performance of Trust Funds portfolios, and evaluating public market strategies; (6) providing quarterly performance analysis; (7) overseeing and evaluating the performance of investment managers; (8) assisting with the selection of investment managers; (9) assisting with the selection of the custodial institutions; (10) prepare and provide monthly executive summary reports evaluating the performance of Trust Funds portfolios; and (11) such supplemental services related to management of funds as may be presented in the response to the RFP and accepted at the time of contract.

 One (1) electronic copy each of the technical proposal and the price proposal (each file must be clearly labeled as technical or price proposal with the responding firm's name) must be submitted by email to Brendan.Killarney@boston.gov no later than 12:00 p.m., Eastern Standard Time ("EST"), November 10, 2025 (the “Submission Date.”) Immediately after the deadline for the submission of proposals the Official or her designee shall open only those proposals received at or before 12:00 p.m. EST on the Submission Date. The Official or her designee shall prepare a register of proposals which shall be open for inspection. Until the contract is awarded, the contents of the proposals shall remain confidential and shall not be disclosed to competing offerors. The Official shall designate the individuals responsible for the evaluation of the proposals. The committee shall determine the most advantageous proposal. The factors to be considered in determining the most advantageous proposal may include but not be limited to the following: Technical ability; Previous experience and performance; Qualifications of personnel; and Price. Price will not be the sole determining factor. The award shall be subject to the successful completion and execution of a contract and any related documentation. Any proposals that fail to conform to the provisions and/or the Minimum Evaluation Criteria specified in the RFP will be rejected. The Official also reserves the right to cancel the procurement, to reject in whole or in part any and all responses to the RFP, and to waive minor informalities in any response. The maximum time for the award of a contract after the opening of bids shall be forty-five (45) days, unless the Official shall request an extension of such period in writing, and price proposals shall remain effective for the entire forty-five (45) day period. 

Unless the Official rejects all proposals and cancels the RFP, the contract executed by the City and the Firm shall have a term of three (3) years, with an option to renew and extend the contract for two additional years, said option exercisable solely by the City at the Official’s discretion. The exercise of the option for renewal and extension of the contract shall not be subject to agreement or acceptance by the selected Firm.

Ashley Groffenberger, Chief Financial Officer, Collector Treasurer