RECOMMENDATION(S):
APPROVE and AUTHORIZE the Human Resources Director, or designee, to execute a contract amendment with Segal Advisors, Inc. including modified indemnification language, to extend the term from April 1, 2022 through March 31, 2023, and increase the payment limit by $60,000 to a new payment limit of $270,000.
FISCAL IMPACT:
The program is funded through plan participant fees. There is no fiscal impact beyond overhead administration support costs which is reimbursed annually through the plan.
BACKGROUND:
Segal Advisors provide fiduciary consulting services for the County. These services assist the County with performance evaluation, measurement allocation and investment strategy for the County’s 457 Deferred Compensation plan. Pursuant to the parties’ contract, Segal Advisors perform the following advisory and fiduciary consulting services, among others,:1) attendance at meetings; 2) investment management search and selection; 3) investment performance monitoring; 4) administrative services monitoring; and 5) general consulting.
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