The Consultant shall conduct a biannual review and analysis of the current ORP program as of December 31, 2025, December 31, 2027 and December 31, 2029, and if the Board exercises the renewal options, December 31, 2031. These program reviews shall include, but may not be limited to, the following: ▪ Performance analysis of all ORP investment options to include benchmark and peer universe comparison, in accordance with the Investment Policy; ▪ Analysis of risk characteristics of investment options; ▪ Suitability of current investment lineup; ▪ Analysis of default investment option(s); ▪ Analysis and benchmarking of current fee structure; ▪ Participation levels across vendors and investment options; ▪ Analysis of satisfaction levels among Employing Institutions; ▪ Assessment of the overall effectiveness of the ORP in meeting the needs of participants and whether participants are making sound investment and saving decision; ▪ Recommendations to improve the overall ORP Program; ▪ Upon request, assistance with implementing any recommendation to remove, replace, or add an investment option.
