ATU respectfully requests proposals for firms or individuals to assist with the following: A. Fiduciary Role The institution is seeking proposals that outline two distinct fiduciary service models: 1. Co-Fiduciary Model (modeled after ERISA section 3(21)) Consultant provides investment advice and recommendations. Final decision-making authority remains with the institution’s retirement plan committee. Consultant supports plan governance, investment reviews, and documentation. 2. Full Fiduciary Model (modeled after ERISA section 3(38)) Consultant assumes full discretionary authority over plan investments. Responsible for selecting, monitoring, and replacing investment options. Respondents should clearly indicate which model(s) they offer and provide separate pricing and service descriptions for each. B. Additional Responsibilities In addition to fiduciary responsibilities, ATU is seeking a consultant who will provide the following services: 1. Vendor Management Act as liaison between the institution and plan recordkeeper(s). Facilitate communication, issue resolution, and service level monitoring. 2. Fee and Contract Review Review and negotiate recordkeeping and investment fees. Benchmark fees against industry standards. 3. Investment Oversight Review and monitor the plan’s investment lineup. Provide recommendations for fund additions, removals, or replacements.
