Specifications include, but are not limited to: The scope of work to be performed by the consultant will include, but is not limited to, the following: 1. Evaluate the City’s current plans and investment offerings a summary is attached to this RFP as Exhibit A. Including a process to evaluate and recommend changes when necessary. 2. Review the existing investment strategy, including making recommendations with respect to the number and type of investment alternatives that is advisable for these types of plans and what fees are reasonable for the City or participants to pay. 3. Educate the Plan Governance Committee with respect to the investment offerings consistent with best practices 4. Annual review and update of plan-related documents, including, but not limited to: a. Governance Committee Charter (Exhibit B). b. Investment Policy for the 401 (a) and 457 (b) Retirement Savings Plans (Exhibit C), which the City will follow moving forward. c. Education Policy Statement 401 (a) & 457 (b) Retirement Savings Plans (Exhibit D) for ongoing education for plan decision-makers and participants. 5. Complete a Request for Proposal and selection of record keeper(s) prior to the termination of the current contract in March 2023. a. Establish criteria for record keeper(s) in conjunction with the Plan Governance Committee. b. Assist the City with record keeper contract development, adoption, completion, and implementation.