Title:
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Award RFP-604926-25/LNF - Term Contract for Deferred Compensation Consulting Services to Gallagher Fiduciary Advisors, LLC, Rolling Meadows, IL, in the annual estimated amount of $25,000.00, and authorize the Purchasing and Contracts Division to execute the agreement. Countywide (Stephen Koontz, Administrative Services Deputy Director) Requesting Department - Administrative Services
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Division:
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Resource Management - Purchasing and Contracts
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Authorized By:
Robert T. Bradley, Purchasing Manager
Contact/Phone Number:
Leticia Figueroa/407-665-7119
Background:
RFP-604926-25/LNF will provide for Section 457(b) Deferred Compensation consulting services. Seminole County offers the Deferred Compensation Program (DCP) to employees of the Board of County Commissioners as well as employees of five (5) Constitutional Officers (Sheriff, Property Appraiser, Supervisor of Elections, Clerk of Circuit Court, and Tax Collector). There are approximately 3,200 employees eligible to participate and 2,368 participants as of June 30, 2024.
The Consultant will evaluate the performance and cost of investment options offered to participants and present a report to the Deferred Compensation Plan Review Committee annually. The Consultant shall also provide general consultation services regarding Section 457(b) Deferred Compensation Plan compliance and fiduciary duties.
The solicitation was publicly advertised, and the County received ten (10) submittals in response to the solicitation, one of which withdrew. The Evaluation Committee consisting of Lorie Bailey Brown, Resource Management Director; Christina Brandolini, Human Resources Director and Timothy Jecks, Management and Budget Director, evaluated the submittals. Consideration was given to Firm Experience/Qualifications and Experience of Personnel/Methodology and Approach to Work/Price Proposal. The Evaluation Committee recommends award to the top ranked firm, Gallagher Fiduciary Advisors, LLC, Rolling Meadows, IL.
Authorization for services by the Consultant under this contract shall be in the form of Purchase Orders issued and executed by the County. The contract shall take effect on the date of the execution by the County and shall run for a period of three (3) years. At the sole option of the County, it may be renewed for two (2) successive periods not to exceed one (1) year each. The budget for this item is in account BU# 010309. The annual estimated amount of this contract is $25,000.00.
The Backup Documentation includes the Tabulation Sheet, Evaluation Scoring Sheets, and the Award Agreement.
Requested Action:
Staff requests the Board award RFP-604926-25/LNF - Term Contract for Deferred Compensation Consulting Services to Gallagher Fiduciary Advisors, Rolling Meadows, IL, and authorize the Purchasing and Contracts Division to execute the Agreement.