PUR 26-031 Fiduciary Advisor

REQUEST FOR PROPOSALS (RFP)
PUR 26-031
(FIDUCIARY ADVISOR)
PROPOSALS WILL BE RECEIVED UNTIL THE HOUR OF 2:00 PM,
THURSDAY, JUNE, 11, 2026; ELECTRONICALLY AT
CITY.CLERK@STOCKTONCA.GOV

PUR 26-031
FIDUCIARY ADVISOR
Proposal Opening June 11,2026
RFP INFORMATION
Contact Andrew Thai
Email Address stocktonbids@stocktonca.gov
Due Date for Questions and Date; May 21, 2026
Clarifications 2:00 PM PST
Due Date for Response to Date; May 28, 2026
Questions/Clarifications 5:00 PM PST
RFP Submittal city.clerk@stocktonca.gov or
Electronic Mail or on a USB Office of the City Clerk, City Hall
Flash drive 425 North El Dorado Street
Stockton, California 95202
RFP Submittal Due Date & Thursday, Date;
Time 2:00 PM PST
Anticipated Date for June 25, 2026
Notification of Intent to Award
Bid Security & Bonds Bid Security Bonds
Labor Compliance DIR Registration Contractor License
Anticipated Date for Council August 11, 2026
Approval
* Dates and times may be modified as deemed necessary by the City. Any schedule changes
will be communicated through the City's Bid Flash Platform. Respondents are responsible for
regularly monitoring Bid Flash for any adjustments and updates.
IMPORTANT!!!
The City is not responsible for misdelivered proposals, and the proposer is strictly liable
for its chosen method of delivery. It is the proposer's sole responsibility to make sure
that proposals arrive at the proper location. Any proposal that does not actually arrive in
the City Clerk's Office or email by the RFP due date and time will be rejected as non-
responsive, even if properly addressed or delivered to another City Department.
NOTICE INVITING PROPOSALS

PUR 26-031
FIDUCIARY ADVISOR
Proposal Opening June 11,2026
NOTICE IS HEREBY GIVEN that sealed proposals are invited by the City of Stockton,
California, for PUR 26-031 Fiduciary Advisor in strict accordance with the specifications.
The City of Stockton, herein after referred to as the "City", is requesting proposals from
businesses or individuals, herein after referred to as "Proponent", to provide a Fiduciary
Advisor to the City. The selected Proponent shall provide independent investment
advisory, plan review, and compliance guidance.
Proposal specifications and forms can be obtained from the City of Stockton's website
at: www.stocktonca.gov/adminbid. Proposals must be marked "PUR 26-031
FIDUCIARY ADVISOR" and emailed to city.clerk@stocktonca.gov or delivered (mail or
in person) on a USB flash drive to the Office of the City Clerk, City Hall, 425 North El
Dorado Street, Stockton, CA 95202, up to but not later than 2:00 pm (PST) on
Thursday, June 11, 2026.
Proponents will only be identified as responding to the RFP; no proposals will be
opened or read aloud. Each Proponent must be licensed in accordance with applicable
California State Law.
The City reserves the right to reject any/or all proposals received and re-advertise.
Information on Proposal Process/Clarification/Technical Data
Andrew Thai, Procurement Division
(209) 937-8357
e-mail: stocktonbids@stocktonca.gov
DISCLAIMER: The City does not assume any liability or responsibility for
errors/omissions in any document transmitted electronically.
Dated: May 14, 2026
KATHERINE ROLAND, CMC, CPMC, CITY CLERK
CITY OF STOCKTON

PUR 26-031
FIDUCIARY ADVISOR
Proposal Opening June 11,2026
Table of Contents
1.0 ISSUING BODY .......................................................................................................... 1
2.0 BACKGROUND/SUMMARY ....................................................................................... 1
3.0 SCOPE OF SERVICES ............................................................................................... 1
4.0 PROJECT SCHEDULE OF EVENTS ......................................................................... 3
5.0 SUBMITTAL REQUIREMENTS .................................................................................. 3
5.1 PROPOSAL GUIDELINES, CONTENT, AND FORMAT ............................................. 3
6.0 SELECTION CRITERIA & EVALUATION ................................................................... 4
7.0 CITY REQUIREMENTS ............................................................................................... 7
7.1 CITY RESPONSIBILITIES ........................................................................................... 7
7.2 LOCAL BUSINESS PREFERENCE ............................................................................ 7
7.3 LOCAL EMPLOYMENT-PUBLIC WORKS CONTRACTORS .................................. 8
7.4 MANDATORY/OPTIONAL PRE-SUBMITTAL MEETING ........................................... 8
7.5 TERM .......................................................................................................................... 8
7.6 OTHER GOVERNMENT AGENCIES .......................................................................... 8
7.7 INSURANCE REQUIREMENTS .................................................................................. 8
7.8 APPLICABLE LAW ..................................................................................................... 9
7.9 METHOD OF PAYMENT ............................................................................................. 9
7.10 NOTICE TO OUT OF STATE BUSINESS ................................................................... 9
7.11 CONFIDENTIALITY ..................................................................................................... 9
7.12 PROTEST POLICY .....................................................................................................10
8.0 GENERAL REQUIREMENTS, TERMS & CONDITIONS ...........................................11
8.1 CONSEQUENCE OF PROPOSAL SUBMISSION ......................................................11
8.2 ACCEPTANCE OR REJECTION OF PROPOSAL .....................................................11
8.3 RIGHT TO CHANGE OR AMEND REQUEST ............................................................12
8.4 CANCELLATION........................................................................................................12
8.5 EXAMINATION OF PROPOSAL MATERIALS ..........................................................12
8.6 ADDENDA AND INTERPRETATION .........................................................................12
8.7 DISQUALIFICATION ..................................................................................................13
8.8 CONDITIONS IF WORK IS SUBCONTRACTED........................................................13
8.9 LICENSING REQUIREMENTS ...................................................................................13
8.10 PREVAILING WAGE .................................................................................................14
8.11 INDEMNITY AND HOLD HARMLESS ........................................................................14
8.12 COMPETITIVE PRICING ............................................................................................15

PUR 26-031
FIDUCIARY ADVISOR
Proposal Opening June 11,2026
8.13 AVAILABLE FUNDING ..............................................................................................15
8.14 TERMINATION FOR CONVENIENCE ........................................................................15
8.15 AUDITING CHARGES AND SERVICES ....................................................................15
8.16 CHANGES ..................................................................................................................15
8.17 AWARD ......................................................................................................................15
9.0 PROJECT SUBMITTAL CHECKLIST ................................................................................16
10.0 REQUIRED PROPOSAL DOCUMENTS...........................................................................17
ATTACHMENT A - PROPONENT CONTACT INFORMATION ............................................17
ATTACHMENT B- PROPONENT'S COVENANT .................................................................18
ATTACHMENT C - NON-COLLUSION AFFIDAVIT ..............................................................19
ATTACHMENT D - AGENCY REFERENCE FORM .............................................................21
ATTACHMENT E - CERTIFICATION OF FINANCIAL CONDITION ....................................22
ATTACHMENT F - PRICE PROPOSAL ...............................................................................23
ATTACHMENT G - SUBCONTRACTOR LIST .....................................................................24
ATTACHMENT H - EXCEPTIONS ........................................................................................25
ATTACHMENT I - CERTIFICATE OF NONDISCRIMINATION .............................................26
ATTACHMENT J - CONFLICT OF INTEREST DISCLOSURE - AB334 ...............................27
ATTACHMENT K - COMPLIANCE WITH ECONOMIC SANCTIONS ...................................28
11.0 PROPOSAL EXHIBITS ..............................................................................................29
11.1 EXHIBIT 1 - ADDITIONAL SPECIFICATIONS AND/OR MAP ....... Error! Bookmark not
defined.
11.2 EXHIBIT 2 - INSURANCE REQUIREMENTS .................. Error! Bookmark not defined.
11.3 EXHIBIT 3 - SAMPLE CONTRACT ................................. Error! Bookmark not defined.

PUR 26-031
FIDUCIARY ADVISOR
Proposal Opening June 11,2026
1.0 ISSUING BODY
This Request for Proposal ("RFP") is being issued by the City of Stockton, Human
Resources for the PUR 26-033 FIDUCIARY ADVISOR
2.0 BACKGROUND/SUMMARY
The City of Stockton is located in California's great Central Valley and is one of the
largest employers in Stockton with 1,790 full-time employees and has a FY 2024-2025
annual budget of $955 million. Stockton has grown from a community with rich
agricultural roots to an urban destination with a rich arts and culture scene, fine dining,
shopping, sports, recreation, and family activities.
The City, as the responsible plan fiduciary, has the authority to designate investment
alternatives under the Plan and the related trust, and to enter into an Agreement with
third parties to assist in these and related duties and seeks to partner with a Consultant
for deferred compensation consulting services.
3.0 SCOPE OF SERVICES
* Proponent shall provide compliance recommendations to ensure that the City's
Deferred Compensation Plan is consistent with all laws and regulations of the
United States Department of Labor, the Securities and Exchange Commission,
the Internal Revenue Service as well as other necessary regulatory bodies.
* Proponent shall advise the City regarding fiduciary responsibilities to further the
performance, transparency, and accountability of the Deferred Compensation
Plan program.
* Proponent shall review and recommend necessary changes, including but not
limited to the City's documentation, design, and operation of its Deferred
Compensation Plan, written Investment Policy Statement, strategic goals,
communication methods, detailed investment education programs, Industry best
practices for both Internal and Plan provider procedures, Implementation of new
federal laws and regulatory changes, etc.
* Proponent shall analyze existing plans, identify, and develop cost- saving
alternative benefit strategies and plans.
* Proponent shall provide innovative approaches to benefit challenges facing the
City and recommend benefit Plan changes.
* Proponent shall assist in the development of short and long-range goals and
strategies, including projects of potential savings.
* Proponent shall provide a high level of customer service to include evaluation of
data, submission of executive reports, and reconciliation of investments and plan
accounts.
* Proponent shall provide investment return summaries.
* Proponent shall develop an RFP In accordance with the City's Procurement
Policy for a Deferred Compensation Plan Provider(s).
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PUR 26-031
FIDUCIARY ADVISOR
Proposal Opening June 11,2026
* Proponent shall develop and conduct training as needed to educate members
and potential members of the benefits of the deferred compensation plan.
Proponent may hold training in person using a web-based video platform.
* Proponent shall conduct outreach and provide educational materials as
necessary to keep members, including the City's various bargaining unit
representatives, informed.
* Proponent shall be available to discuss investment and education. and
governance with City employees and bargaining unit representatives as
necessary.
* Proponent shall recommend Innovative solutions to better meet member needs.
* Proponent shall develop an Investment Policy Statement (IPS). The IPS
establishes the Investment policies and objectives for the Plan(s), and shall set
forth the asset classes and investment categories to be offered under the
Plan(s}, as well as the criteria and standards for selecting and monitoring the
Investments. The City Will have the ultimate responsibility and authority to
establish such policies and objectives and to adopt the Investment policy
statement.
* Proponent shall select the initial investment options within the Plan(s) consistent
with the Investment Policy statement.
* Proponent shall periodically review the Investments within the Plan(s) and shall
be responsible for making additions/deletions thereto.
* Proponent shall provide periodic Investment advisory reports that document
consistency of fund management and performance to the guidelines set forth in
the IPS, and to make recommendations to maintain, or remove and replace
Investment options. Reports to Include: Market Overview, In-Depth Portfolio
Summary, Plan Asset Allocation Analysis, and Fund Performance Comparison to
the Index.
* Proponent shall meet with the City on a periodic basis to discuss reports and
recommendations.
* Proponent shall annually review the IPS with the City to ensure it continues to
meet the City's needs.
* Proponent shall select a default Investment for participants who fail to make an
investment election.
* Proponent shall coordinate the Deferred Compensation quarterly meetings,
record the meeting minutes, and provide minutes to the attending members.
* Education Program Strategy - Contractor shall assist in the education of the
participants in the Plan(s) about general investing principles and the investment
alternatives. This shall include on-site meetings, webinars, and one-on-one
consultations.
* Proponent shall distribute Plan(s) level newsletters to the City.
* Proponent provides custom communications when needed.
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PUR 26-031
FIDUCIARY ADVISOR
Proposal Opening June 11,2026
* Proponent shall provide the Plan(s), design consulting, and Plan document
review.
* Proponent shall assist the City in the transition of previous record- keeper(s)
and/or Plan(s) provider(s).
* Proponent shall provide vendor management/issue resolution to the City.
* Proponent shall provide consulting assistance on fiduciary best practices.
* Proponent shall provide assistance with mandatory and optional legislative
changes.
* Proponent shall assist the City in their communications with recordkeepers
and/or Plan(s) providers.
* Proponent shall provide RFP services in accordance with the City's Procurement
Policy and Plan(s), and fee negotiations on behalf of the City.
* Proponent shall perform incumbent vendor audit and fee review.
* Proponent shall provide the retiree meeting and consultations.
* Proponent shall provide contract review support. - This will be your Proposed
Scope of Services.
See Exhibit 1 for technical, performance, and/or functional specifications.
4.0 PROJECT SCHEDULE OF EVENTS
The dates indicated within this RFP are the anticipated milestones for this project. All
dates are subject to change at the City's discretion. All changes to this schedule will be
posted on the City's Bid Flash platform.
5.0 SUBMITTAL REQUIREMENTS
5.1 PROPOSAL GUIDELINES, CONTENT, AND FORMAT
The City of Stockton uses a qualifications-based selection process in obtaining these
services. In order for the City to properly evaluate the Proponents' qualifications to
perform this work, the proposals shall include, as a minimum, the following information:
A. Evidence of the Proponent's ability to be responsive to this project in regard to
timeliness and expertise, including the availability of staff proposed to be assigned.
B. The Proponents are encouraged to expand on the Scope of Work to demonstrate
their expertise. Evaluation of the proposals will be based on qualifications, the
experience of staff proposed to be assigned to the project, references, and the
thoroughness of the Proponent's response to the Scope of Services.
C. Such additional information that the Proponent may feel would be pertinent to
assist the City of Stockton in making its final decision.
D. Please submit an electronic version of the proposal and cost proposal to
city.clerk@stocktonca.gov, or it can be hand-delivered or mailed (USB flash drive
required) to the City Clerk's Office, 425 N. El Dorado Street, Stockton, CA 95202.
1. The required proposal documents are to be submitted:
i. Cover Letter and Executive Summary
ii. Full response to the Scope of Services as defined in this solicitation
iii. Attachment A - Proponent Contact Information
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PUR 26-031
FIDUCIARY ADVISOR
Proposal Opening June 11,2026
iv. Attachment B - Proponent Covenant
v. Attachment C - Non-Collusion Affidavit (Notary is required)
vi. Attachment D - Agency Reference List
vii. Attachment E - Certification of Financial Condition
viii. Attachment G - Subcontractor List
ix. Attachment H - Exception Form
x. Attachment I - Nondiscrimination Form
xi. Attachment J - Conflict of Interest Disclosure - AB334 Form
xii. Attachment H - Compliance with Economic Sanctions
xiii. All bond and proposer security (Remove if none are required and
update what is required)
xiv. All Addenda's signed by vendor (if applicable)
2. The required cost proposal documents are to be submitted:
i. Cover Letter
ii. Attachment F - Price Proposal
E. Material and data not specifically requested for consideration, but which the
Proponent wishes to submit, must not appear with the Proposal but may appear
only in an "Additional Data" section. This specifically refers to the following types
of data: Generalized narrative of supplementary information and Supplementary
graphic material.
F. All proposals must be signed with the full name of the Proponent, if an individual;
by an authorized general partner, if a partnership; or by an authorized officer, if a
corporation.
G. When proposals are signed by an agent other than an officer of a corporation or a
member of a general partnership, the power of attorney authorizing the signature
must be submitted with the proposal.
H. The original proposal shall be signed. Modification to a proposal after the
proposal submittal deadline will not be accepted by the City.
6.0 SELECTION CRITERIA & EVALUATION
The City is interested in selecting a qualified proposer(s) capable of providing the scope
of work described in this solicitation and the resulting awarded contract. A key component
of a successful proponent will be the ability to meet the City's performance goals while
minimizing costs.
The Evaluation Panel will consist of the City of Stockton staff. Following review of the
proposals, the Panel may invite one or more Proponents to make an oral presentation.
During these presentations, the Proponent will be allowed to present such information as
may be appropriate, so that the Panel can effectively and objectively analyze all materials
and documentation submitted as part of the proposals.
Each proponent must be represented by an individual who will serve as the prime contact
to the City and to any other individuals the firm may select. The highest-rated proposal(s)
will then be further reviewed through financial analysis and reference checks.
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PUR 26-031
FIDUCIARY ADVISOR
Proposal Opening June 11,2026
Proposals shall be evaluated according to demonstrated understanding of required tasks,
technical approach to specified operations, qualifications of staff, the company's
experience, demonstrated knowledge of best practices for the identified scope, financial
business strength, and fee schedule proposal. Proper format and demonstrated
experience will merit consideration.
To that end, each proposal will be evaluated based on, but not limited to, the following
criteria, listed in relative order of importance:
A. Qualifications
B. Professional Experience
C. Industry Expertise
D. References/Industry Reputation
E. Quality and Clarity of Proposal
F. Proponent's Price Proposal - Completed and Signed Under Separate Cover
F. Interview/Presentation, if applicable; and
Proponents may elect to submit proposals that include multiple organizations
(subcontractors). If it includes multiple subcontractors, background information for each
subcontractor must be provided, along with a clear description of their scope(s) of work.
COVER LETTER:
Submit a letter on your company letterhead that addresses the proposal and its format.
The letter should be signed by an officer of the business authorized to bind the business
to all comments made in the proposal, and shall include the name, address, phone
number, and e-mail address of the person(s) who will be authorized to represent your
business.
In no more than three (3) pages, the Cover Letter and Executive Summary shall include:
1. The names of the key members of the Proponent team.
2. The mailing address, telephone number, and the name of the main point of
contact for the Proponent team.
3. A summary of the company's experience and qualifications, as it relates to
the Scope of Service of this solicitation and the significant advantages to
selecting the Proponent.
4. An acknowledgement of receiving any addendum(s) to the solicitation
document.
5. Indicate that the proposal and all its contents, including the fee proposal, are
valid for a period of 120 days.
6.1 QUALIFICATIONS AND EXPERIENCE
1. Describe how your company is organized, noting major divisions and any
parent/holding companies, as well as a brief history of the company and all
personnel potentially to be involved in the project, including all sub-
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