Specifications include, but are not limited to: 3.1 A detailed analysis of the pros and cons of and a recommendation regarding the pursuit of a: 3.1.1 Multiple Employer Trust; 3.1.2 Single Employer Section 115 Trust; or; 3.1.3 401(h) Trust.; 3.2 An explanation of how the recommended approach offers an IRS-approved irrevocable funding vehicle to protect the City’s assets from day one of funding.; 3.3 A detailed recommendation on how the City can best optimize its initial contributions to the OPEB trust.; 3.4 An explanation of how the recommended approach meets the standards of Government Accounting Standards Board (GASB) best practices.; 3.5 A work plan with a detailed timeline, including milestones for implementation of the recommended solution.; 3.6 Detailed fees for all proposed services.; 3.7 A description of ongoing responsibilities of City staff.; 3.8 An annual investment return history for the past seven years along with expense ratios for each fund managed.; 3.9 Future costs associated with converting the type of the proposed trust setup to better serve the City’s ongoing needs (for example: switching from a Multiple Employer trust to a Single Employer Section 115 Trust).; 3.10 Provide detailed recommendation on minimum initial investment and ongoing annual investment into the fund.; 3.11 Based on the Proposer’s trust type recommendation, the proposal should describe how the Proposer will: 3.11.1 Provide a full-service program that includes trust administration and trustee and investment management services, if applicable.; 3.11.2 Develop and provide a written investment policy for the investment of assets.; 3.11.3 Develop asset allocation guidelines for the trust, based upon investment objectives and risk tolerance parameters.; 3.11.4 Provide education and presentations regarding the OPEB trust program to City staff.; 3.11.5 Provide examples of monthly and annual comparative performance analyses and evaluation reports of the investments of the trust.; 3.11.6 Coordinate all contributions into the trust and process requests for distributions.; 3.11.7 Provide all necessary documents and forms to establish the trust, as well as ongoing technical support for City staff.
