The Board has determined that it is in its best interests to retain the services of an independent entity to provide investment consultant services. The Respondent selected will establish and assume direct responsibility for proving investment consultant services. Pursuant to a written contract resulting from this procurement, the Respondent(s) selected shall: On-going Investment Consultant Services: For the Savings and ABLE Programs, the Respondent shall perform the below services within the requirements set forth in the contract: Reporting a. Investment Performance Validation – Interface with the Board’s investment custodians (currently, Northern Trust for the Savings Program and Bank of New York Mellon for the ABLE Program) to obtain the information necessary to validate investment performance calculated by the Board’s custodians. b. Investment Performance Reporting – Prepare and deliver timely monthly and quarterly performance reports (gross and net of fees where applicable). Report quarterly performance to the Board, including market/economic overviews. c. Investment Performance Summaries – Prepare performance summary tables that are uploaded to the websites and provided to third party monitoring entities, such as Savingforcollege.com. Consulting d. Investment Option Design – Design an investment option line-up that meets the participants needs and aligns with industry best practices. Make recommendations to the Board on enhancements as needed. e. Investment Allocations – Develop allocations for investment options consisting of multple asset classes. The allocations should achieve the objectives of the investment option and be supported by appropriate research. Make recommendations to the Board on enhancements as needed.
