Agenda

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C. 79

To:	Board of Supervisors
From:	Dianne Dinsmore, Human Resources Director
Date:	March 27, 2018

Contra

Costa

County

Subject:

Approve a contract with Segal Marco Advisors for 457 Deferred Compensation Fiduciary Consulting Services

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 03/27/2018

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

Candace Andersen, District II Supervisor
Diane Burgis, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor

ABSENT:

John Gioia, District I Supervisor

Contact:

Dianne Dinsmore 925-335-1742

I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown.
ATTESTED: March 27, 2018
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

APPROVE and AUTHORIZE the Human Resources Director, or designee, to execute a three-year contract, including modified indemnification language, with Segal Marco Advisors effective April 1, 2018, to March 31, 2021, with the option of two (2) one-year renewal periods.

FISCAL IMPACT:

The program is funded through plan participant fees. There is no fiscal impact beyond overhead administration support costs, which are reimbursed annually by the plan.

BACKGROUND:

Segal Marco Advisors will provide Fiduciary Consulting services in order to assist with performance measurement, allocation and investment strategy for the County’s 457 Deferred Compensation Plan. Segal Marco Advisors will provide the following advisory and fiduciary consulting services including: 1) Attendance at Meetings; 2) Investment Policy Statement; 3) Investment Manager Search and Selection; 4) Investment Performance Monitoring; 5) Administrative Services Monitoring; 6) General Consulting

BACKGROUND: (CONT'D)

A three-year contract in an amount not to exceed $150,000, with the option for two one-year renewal periods, has been negotiated. This action authorizes the Human Resources Director or designee to execute the contract with Segal Marco Advisors.

CONSEQUENCE OF NEGATIVE ACTION:

If the contract is not approved, the County will not be able to access the expertise and support of a Fiduciary Consultant who could assist in measurement, allocation and investment strategy for the County’s 457 Deferred Compensation plan.