Agenda

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C. 32

To:	Board of Supervisors
From:	Dianne Dinsmore, Human Resources Director
Date:	September 18, 2018

Contra

Costa

County

Subject:

Approve a contract with Segal Marco Advisors for the 457 Deferred Compensation Vendor search and evaluation.

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 09/18/2018

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Diane Burgis, District III Supervisor
Karen Mitchoff, District IV Supervisor

ABSENT:

Federal D. Glover, District V Supervisor

Contact:

Dianne Dinsmore 925-335-1776

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: September 18, 2018
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

APPROVE and AUTHORIZE the Human Resources Director or designee, to execute a contract in the amount of $23,500, including modified indemnification language, with Segal Marco Advisors for Request for Proposal services and evaluation for the period of September 1, 2018 through August 31, 2019.

FISCAL IMPACT:

The payment of $23,500 is funded through plan participant fees.

BACKGROUND:

Segal Marco Advisors will provide Fiduciary Consulting services and assist the County in conducting a full vendor search and response evaluation for the County’s 457 Deferred Compensation Plan. The vendor search process encompasses all of the services needed to support a competitive bid process for the program including investments, plan administration, participant communications and on-site education. RFP Search Services include: 1) Preliminary Work; 2) Development of the RFP; 3) Evaluation of Vendors; 4) Selection of Finalist; 5) Contract Negotiations; 6) Program Implementation/ Conversion Project Management.

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 to assist in the competitive bidding process for a vendor for the County’s 457 Deferred Compensation plan.