Retirement Board Advisory Services-401(a) Plan

REQUEST FOR QUOTATION (RFQ)
RFQ #Q26-03
Retirement Board Advisory Services-401(a) Plan
RFQ SUMMARY:
Larimer County intends to enter an agreement with a vendor to provide advisory services for the Larimer
County 401(a) Contributory Retirement Plan.
QUESTION DEADLINE: May 6, 2026 @ 10:00 a.m. (MT)
All questions regarding this solicitation must be emailed to the Contact Person identified below. If you do not
receive a confirmation email of receipt, please call the Contact Person to verify receipt of your questions. No
questions will be accepted after the date and time referenced above. All questions received will be answered
via Addendum only.
DEADLINE FOR SUBMITTALS: May 14, 2026 @ 10:00 a.m. (MT)
We will only be accepting quotations submitted via the Rocky Mountain E-Purchasing System (BidNet, BidNet
Direct) portal, up to the date and time referenced above, at which time they will be recorded, but not publicly
opened on behalf of the the Human Resources Department.
BIDNET PORTAL / RFQ OFFICIAL WEBSITE:
To view official RFQ documents and addenda only available on the BidNet portal, use the following link:
https://www.bidnetdirect.com/colorado/larimer-county/
CONTACT PERSON:
Purchasing Agent Karen Schaefer, schaefka@co.larimer.co.us, 970-498-5936
NOTE: Unauthorized contact with a County employee other than the Contact Person listed above or
Purchasing Manager regarding this RFQ may result in disqualification of your Quote.
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1. INTENT
On behalf of Larimer County's Human Resources Department, the Purchasing Division is requesting quotations
with the intention of contracting with a company to provide advisory services for the Larimer County 401(a)
Contributory Retirement Plan.
This RFQ is not for the 457(b) and HRA Plans, that service is being procured via "Q26-02 Retirement Board
Advisory Services 457(b) and HRA Plans"; published separately from this RFQ.
2. QUALIFICATIONS
Qualifications, at a minimum, include the following items which must be documented explicitly in your quote:
2.1. Firm must have provided and performed continuous retirement plan advisory services for a
minimum of five (5) years.
2.2. Responding firms should have provided retirement plan advisory services for a minimum of three
(3) government clients during the previous five (5) years (2021 - 2025).
2.3. Firm must be independent and licensed to practice in the State of Colorado.
2.4. Firm must be a registered advisor with the Securities and Exchange Commission (SEC) under the
Investment Advisor Act of 1940 and provide a copy of ADV Parts I and II form that are currently on file
with the SEC.
3. BACKGOUND
Larimer County has a defined contribution plan administered by the independent Larimer County Retirement
Board. Established in 1968, the plan provides defined contribution for substantially all regular employees of the
County. Financial statements for the retirement plan are issued separately from Larimer County's annual
comprehensive financial reports. As a defined contribution plan, Larimer County has no future liability for
benefits paid to plan participants. As of March 2026, the 401(a) plan had over 3,200 participants and an
estimated $500,000,000 total balance.
Current Retirement Program Plans 401(a) and 457(b) are administrated by TIAA. Current Post-
Employment Health Reimbursement Account (VEBA Trust) is administered by TASC.
4. SCOPE OF WORK
The Awarded Vendor is expected to provide the following services at minimum:
4.1. Advisory services for the 401(a) plan at the 3(21) level of service.
4.2. Attend investment meetings with comprehensive review and recommendations for prudent plan
changes to maximize performance. (Estimated at six (6) two-hour meetings per year).
4.3. Provide annual comprehensive plan review, including but not limited to; plan documents and fee
structure.
4.4. Advise the 401(a) Retirement Board on contractual agreement with plan recordkeeper.
4.5. Perform due diligence on investment review and reporting.
4.6. Advise in the selection and monitoring of investment options under the plan menu.
4.7. Monitoring and negotiating fee structure of plan platform providers.
4.8. Assistance in refining and monitoring of Investment Policy Statements (IPS).
4.9. Advise, implement, and monitor employee education strategy.
4.10. Provide oversight of plan services to participants.
4.11. Provide oversight of plan compliance and reporting.
4.12. Provide annual fiduciary training for the Retirement Board.
4.13. Take meetings minutes and store in a secure repository accessible to Retirement Board members.
4.14. Review documents and minutes for fiduciary compliance.
4.15. Provide guidance in determining responsibility for preparation of each plans' financial statements.
4.16. Provide guidance in determining responsibility for performance of plan audit.
4.17. Review and monitor plan revenue credit account for compliance and accuracy.
4.18. Complete annual administrative benchmarking review.
4.19. Review and report on the Plan Vendor's cyber security protocols and insurance coverage annually.
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4.20. Provide proactive legislative updates and impact analysis on new federal or state regulations that may
require plan document amendments or operational changes.
5. AWARD AND CONTRACT
This solicitation will be awarded to the vendor with the most responsive, responsible, reasonable quotation
meeting all specifications and deemed the best fit and most advantageous to Larimer County. To assist in the
decision for award: interviews may be held, background checks may be performed, references may be
contacted, and other inquiries may be taken to determine the abilities of the vendor.
A formal agreement will be executed with the award vendor. A Sample of Larimer County's Agreement is
included with this Request for Quotation as Attachment C - Agreement. State any exceptions or requested
additions to Attachment C and submit with your proposal; these requests may not be accepted after the
Proposal has closed. The County makes no guarantee of any changes or concessions but will review and may
consider requests submitted.
The term of the agreement will be for one (1) year from the date the agreement is executed. The County, at its
sole option, may offer to extend this Contract for up to four (4) additional one-year terms. The extension option
may be exercised providing satisfactory service is given, and must be mutually agreed upon in writing, by and
between the County and the Award Vendor.
Upon Notice of Award, the Award Vendor will be required to submit a valid Certificate of Insurance (COI) that
meets, at a minimum, the Insurance Requirements published in the solicitation. This valid COI must be
received by Larimer County within 10 calendar days of the Notice of Award and must include Larimer County
listed as Additional Insured and Certificate Holder. Work may only begin after the COI has been approved by
Risk Management.
6. INSURANCE REQUIREMENTS
BEFORE submitting your company quote, confirm with your insurance carrier that your company can meet the
insurance requirements published in the solicitation. Your company insurance coverages should be correctly
noted in the most current EOC. NOTE: All Larimer County contracts require that the Award Vendor possess
appropriate insurance at all times during the contract; these coverages are purchased at the company's
expense. The County's insurance requirements may necessitate a company adding or increasing
coverage/limits, and those changes may impact pricing for the proposed project. These costs must be included
in your pricing at the time of submission and will not be permitted to be added later.
Prior to commencement of any work, contractor/vendor shall provide a Certificate of Insurance issued to
Larimer County, 200 West Oak St., Suite 4000, Fort Collins, Colorado 80521 as the Certificate Holder. The
insurance required herein shall be procured and maintained in full force and effect for the duration of the
Contract or Agreement and shall be written for not less than the following amounts, or greater if required by
law. Such certificate shall be delivered to InsuranceCert@larimer.org.
I. Workers' Compensation and Employers' Liability
A. Workers' Compensation: Statutory
B. Employer's Liability: $100,000 Each Accident
$500,000 Disease-Policy Limit
$100,000 Disease-Each Employee
C. Waiver of Subrogation in favor of Larimer County
D. If the contractor/vendor is not required to carry Workers' Compensation coverage per Colorado
Workers' Compensation Act 8-40-202(2)(b) a signed Workers' Compensation waiver must be
provided.
II. General Liability on an Occurrence Form with minimum limits as follows:
A. Per Occurrence Limit $1,000,000
B. General Aggregate Limit $2,000,000
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C. Contractor/Vendor agrees that the insurance afforded the County is primary non-contributory.
III. Automobile Liability Insurance including coverage for all owned, non-owned, & hired autos. Limits to
be as follows:
A. Bodily Injury & Property Damage Combined Single Limit $1,000,000
B. Lower limits may be accepted if automobiles are not used for transport in relation to
goods/service provided as outlined in agreement (i.e. only commuting to job site).
IV. Professional Liability/Errors & Omissions $1,000,000
V. Network Security and Privacy Liability (Cyber Liability) $1,000,000
VI. Minimum required limits set forth herein may be met by utilizing a combination of excess/umbrella
policies in conjunction with primary insurance policies if necessary.
VII. General Liability and Automobile Liability insurance policies shall include Larimer County and
its elected and appointed officials and employees as additional insureds as their interests may
appear.
VIII. The County reserves the right to reject any insurer it deems not financially acceptable by insurance
industry standards. Insurance Companies shall be licensed to do business in the State of Colorado and
shall have an AM Best rating of not less than A- VII.
IX. Notice of Cancellation: Each insurance policy required by the insurance provision of this Contract or
Agreement shall provide the required coverage and shall not be suspended, voided, or canceled.
Should any of the required policies be canceled before the expiration date, notice shall be delivered to
Larimer County, 200 West Oak St. Suite 4000, Fort Collins, CO 80521 or InsuranceCert@larimer.org.
X. Subcontractors: If subcontractors are used by contractor/vendor in the performance of contracted
services, all subcontractors are required to carry insurance coverage consistent with the limits as listed
in this document and the subcontractor must include Larimer County an additional insured as described
in section VII.
ANY DEVIATIONS FROM THE STANDARDS GIVEN ABOVE MUST BE APPROVED BY THE
LARIMER COUNTY RISK MANAGEMENT DIVISION.
7. EVALUATION CRITERIA
Quote submittals will be evaluated and scored by a committee selected by the Retirement Board. The criteria
below will be the basis for review of the written quotes. The rating scale shall be for available points,
receiving the maximum points available per criteria would be considered an outstanding rating.
POINTS
CRITERIA STANDARD
AVAILABLE
Does the proposal meet or exceed the requirements as
outlined in the proposal document, including the firm's
performance and experience with comparable government
engagements?
Does the proposal submitted establish the firm's
competence, and capacity to perform advisory services for
Expertise, and
Larimer County?
Experience 40
Does the proposal demonstrate the firm's commitment to
dedicate professional personnel to be assigned to the
engagement?
Will the firm's management support personnel be available
for technical consultation as needed?
Does the proposal submitted indicate adequacy of
analytical procedures and internal control review
methodology?
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Is the firm independent and licensed to practice in the
State of Colorado?
Has the firm performed continuous services for a minimum
of five (5) years?
Firm's Does the firm's qualifications meet or exceed the County's
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Qualifications needs?
Is the firm a registered advisor with the SEC under the
Investment Advisor Act of 1940 and did they provide a
copy of ADV Parts I and II form that are currently on file
with the SEC?
Is the firm's pricing comprehensive, reasonable and
Price 25
advantageous to Larimer County?
8. GENERAL INSTRUCTIONS TO RESPONDENTS
8.1 Artificial Intelligence (AI) Disclosure:
Portions of this solicitation may have been prepared or modified with the assistance of Artificial Intelligence (AI)
technologies. All such content has been reviewed, verified, and approved for accuracy and compliance by the
Purchasing Agent prior to issuance.
8.2 Cooperative Purchasing:
Other governmental entities may piggyback on the award of this solicitation, assuming the award vendor is
amenable, and should contact Larimer County Purchasing for any necessary procurement documents. The
entity will deal directly with the award vendor concerning the placement of Purchase Orders, freight charges,
contracting and disputes, invoicing, and payment. Larimer County will not be held liable or responsible for any
liability, claims, costs, damages, demands, actions, losses, judgments or expenses incurred by the vendor or
any government entity relating to such use.
8.3 Opportunities:
Larimer County, whenever possible, ensures consideration is given to small businesses, minority businesses,
women's business enterprises, veteran-owned businesses, and labor surplus area firm services.
Larimer County hereby notifies all Respondents they will be afforded full and fair opportunity to submit a
quotation in response to this RFQ and they will not be discriminated against on the basis of age 40 and over,
race, sex (including pregnancy), color, religion, national origin, disability, genetic information, sexual
orientation, military or veteran status, or any other applicable status protected by Federal, State, or local law in
consideration for this contract.
8.4 General Requirements:
All businesses, organizations, and individuals contracting with Larimer County must comply with Title II of the
Americans with Disabilities Act of 1990, as amended. For more information on these requirements and to read
the full Title II text, please go to the following web page: https://www.ada.gov/ada_title_II.htm.
No vendor awarded a solicitation shall be federally debarred. Such debarment will be checked through the
System for Award Management, at https://sam.gov/SAM
No quote is contingent on the purchase of all items listed. The right is reserved to reject any and all quotes or
parts thereof.
8.5 Reasonable Accommodations:
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Per the Americans with Disabilities Act (ADA), Larimer County will provide reasonable accommodation to
qualified individuals with a disability who need assistance. Services can be arranged with at least seven (7)
business days' notice. Please email the Contact Person listed on page 1 or call Relay Colorado 711. "Walk-
in" requests for auxiliary aids and services will be honored to the extent possible but may be unavailable if
advance notice is not provided.
9. SUBMITTAL REQUIREMENTS
Submit your non-redacted quote addressing each of the following items in the order as outlined below. As
time is of the essence, brevity is appreciated, firms should limit their quote to 50 pages with no
significant font less than 10 pt. Firms should provide only the information requested, and present it in a
clear, concise manner. Incomplete quotes may be rejected.
NOTE: All parts of the quote should be combined and submitted as one (1) single .pdf file; quotes
comprised of multiple separate files or not as directed below may be rejected.
Firms are encouraged, not required, to provide one (1) redacted .pdf quote, excluding any information that is
not subject to disclosure under the Colorado Open Records Act ("CORA"). Firms that do not provide a
redacted electronic copy will have their non-redacted electronic copy used to satisfy CORA requests.
9.1. Signed Signature Page (page 9)
9.2. Table of Contents
9.3. Executive Summary
9.3.1. The executive summary should give in brief, concise terms a summation of your submittal.
9.4. Agreement:
9.4.1 The County anticipates that the selected firm will sign the County's "Professional Services
Agreement" which is included as Attachment C - Agreement. In this section, you must specifically
address any issues with the agreement and propose solutions.
9.5. Qualifications:
9.5.1. Provide a narrative that explicitly describes/explains how your firm meets or exceeds the
QUALIFICATIONS as listed. Vendors need to use this section to provide proof/evidence that they meet
or exceed the qualifications, be specific for each qualification listed. Statements that you have met the
qualification does not describe/explain how your firm meets or exceeds the QUALIFICATIONS.
9.6. Independence:
9.6.1. The firm should list and describe the firm's (or proposed subcontractors) professional
relationships involving Larimer County or any of its agencies or component units for the past five (5)
years, together with a statement explaining why such relationships do not constitute a conflict of interest
relative to performing the proposed advisory services.
9.7. Experience:
9.7.1. Provide a brief description of your firm's corporate history, including the size of your firm, total
years of investment advisory experience with 401(a) defined contribution plans, clarify the scope of
retirement plan advisory services provided by your firm, is your firm publicly traded or privately held.
9.7.2. Provide a brief statement telling us how many retirement plan clients your firm has added and
how many your firm has lost in the past 24 months, provide the number and size of current assigned
accounts along with the total dollar amount of assets managed by your firm.
9.7.3. Within the last five (5) years, has your organization or any officer or principal been involved in any
business litigation or other legal proceedings relating to the type of services to be provided under this
contract? If yes, please provide a full explanation and indicate the status or disposition of these
proceedings.
9.7.4. Does your firm have a compliance officer on staff; if yes, tell us your compliance officer's
qualifications and designation.
9.7.5. Provide all relevant details about your company's coverage including coverage carried for errors
and omissions, fidelity, fiduciary, and liability.
9.7.6. Indicate the firm's level of commitment to maintaining advisory services in Colorado, describe the
qualifications, competence, and capacity of your firm's ability to provide advisory services for the
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Larimer County Retirement Board. Describe your firm's overall approach to retirement plan investment
consulting that will be provided to our Retirement Board/457 Committee/HRA Board.
9.7.7. How will you help our Board measure and define the success of its retirement plan?
9.7.8. How does your firm define and measure the success of retirement plan advisory relationships?
9.7.9. Describe your firm's policies and procedures regarding business continuation and disaster
recovery.
9.7.10. Describe your firm's conflict of interest policies.
9.7.11. Provide a description of what distinguishes your advisory services from your competitors.
9.7.12. Tell us why your firm feels it is the best qualified firm to carry out the responsibilities as listed in
this Request for Quotation.
9.8. Partner, Supervisory and Staff Qualifications and Experience:
9.8.1. Indicate the firm's strategy to ensure the quality and continuity of staff over the term of the
engagement.
9.8.2. Tell us the size and composition of the firm's governmental advisory staff at the location of the
office from which the work on this engagement is to be performed.
9.8.3. Identify the principal supervisory and management staff, including engagement partners,
managers, supervisors, and specialists, who would be assigned to this engagement.
9.8.4. For each assigned staff, please provide a brief resume summarizing their qualifications and
certifications, any relevant continuing professional education achieved in the past three (3) years and
list memberships in professional organizations, particularly local government organizations
9.9. Similar Engagements with Other Government Entities:
9.9.1. Tell us the number of years and how many governmental plan clients your firm has provided
advisory services for.
9.9.2. Overall, what percentage of revenue does the firm generate from retirement plan clients?
9.9.3. Describe what portion of the firm's business is derived from performing governmental advisory
services?
9.9.4. Of your current client base, provide the total number of governmental defined contribution plans.
Include a list of your 401(a) clients.
9.10. Investment Review & Reporting:
9.10.1. Describe the type of analysis your firm will offer to evaluate our retirement plan investments,
explain the procedures your firm employs in recommending new or additional investment options, and
describe the basis for recommending the removal of an investment option from the plan.
9.10.2. Tell us your firm's philosophies regarding target date portfolios.
9.10.3. Explain your capital markets process and your asset allocation process.
9.10.4. Briefly describe your firm's due diligence process on investment review and reporting and how
timely after a reporting period is a performance report available?
9.10.5. Describe the content and format of performance reports (please include a sample report).
9.10.6. Who prepares these reports and where is the team located?
9.11. Plan Administration & Compliance:
9.11.1. Explain your approach and expertise to advising clients about plan design, administration, and
compliance.
9.11.2. Describe your services to advise/educate clients regarding new developments or laws affecting
public plans.
9.11.3. Explain your experience and search process conducting record keeper searches.
9.11.4. What plan design change initiatives have you led with your other governmental plan clients in
the past 24 months?
9.12. Participant Education & Retirement Readiness:
9.12.1. Describe your ability to assist in evaluating the overall retirement readiness of our plan
participants.
9.12.2. Explain your process with partnering with record keepers in developing and executing an
effective employee education strategy.
9.12.3. Provide a sample education plan.
9.13. Additional Support:
9.13.1. Describe how your firm provides ongoing support to clients throughout the year.
9.13.2. Indicate the willingness of staff to answer technical questions.
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9.13.3. Describe any training, education, or pertinent newsletters or updates you will provide to the
Larimer County Retirement Board.
9.14. Conflict of Interest:
9.14.1. Does your firm receive revenue from investment managers, custodians, brokerage firms, trusts,
commission recapture firms and so on in the form of dues, finder's fees, "soft dollars," or charge for
conferences?
9.14.2. Disclose any finder's fees, fee splitting, payments to consultants, or other contractual
arrangements of the firm that could present a real or perceived conflict of interest
9.15. Subcontracting:
9.15.1. If portions of the work will be subcontracted, the subcontractor's name and qualifications of the
proposed subcontracting firms must be clearly identified in the quote.
9.15.2. Following the award of the advisory services contract, no additional subcontracting will be
allowed without the express prior written consent of the Larimer County Retirement Board.
9.16. Additional Data:
9.16.1. Any additional information considered essential to the proposal should be included in this
section. The proposers' general information publications should not be included.
9.16.2. If there is no additional information, that fact should be stated.
9.17. References:
9.17.1. Completed and submit with your quote Attachment A - References.
9.18. Pricing & Rates:
9.18.1. Complete and submit with your proposal Attachment B - Prices and Rates
9.19. Insurance
Evidence of Coverage Certificate (EOC) or Certificate of Insurance (COI) that most closely reflects the
insurance requirements described in this Request for Quotation (RFQ) document.
9.19.1. Provide a copy of your EOC or COI that most closely covers the requirements as specified in
this RFQ.
9.19.2. Provide responses to answer the following questions.
9.19.2.1. Does coverage meet minimum project requirements?
9.19.2.2. Can this coverage be extended for work on this project?
9.19.2.3. Can coverage be increased?
9.19.2.4. Can the County be listed as an additional insured?
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SIGNATURE PAGE Q26-03:
Quotes must be furnished exclusive of any Federal, State, or Local taxes.
ADDENDA:
The contractor acknowledges receipt of the following Addenda:
Addendum Number Date of Addendum Date Received
________________ ___________________ _______________
________________ ___________________ _______________
The undersigned certifies that they are an authorized representative, have examined the specifications and
instructions to respondents, and has submitted a quote in full compliance and without collusion with any other
person, individual or corporation.
The undersigned certifies that neither the contractor nor subcontractors, the organization nor its principals are
suspended or debarred or otherwise excluded from procurement by the Federal government and do not
appear on the Excluded Parties List System (EPLS) maintained by the General Services Administration (GSA).
For all employees hired to perform labor or services in the United States after November 6, 1986, firm will have
completed Form I-9, Employment Eligibility Verification.
SIGNED:
PRINTED NAME:
COMPANY NAME:
ADDRESS:
CITY: ____________________ STATE: ___________________ ZIP:
UNIQUE ENTITY ID________________________________________________________________________
DATE: TELEPHONE: FAX:
EMAIL ADDRESS:
For further information regarding this request for quotation, Q26-03, please contact Purchasing Agent Karen
Schaefer at 970-498-5936, or schaefka@co.larimer.co.us.
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ATTACHMENT A
REFERENCES
Vendors will provide a narrative response listing at least five (5) references of which three (3) references are
Government Clients. All references must be from within the previous five (5) years; preferably references
where the services outlined in this RFQ have been utilized.
This information provides additional evidence of the vendor's qualifications and understanding of Larimer
County's Scope of Work. Failure to include references and/or the inability to contact the references may cause
your quote to be rejected.
References (attach additional pages as needed)
Customer's Firm Name
Contact Name(s)
Position Title
Physical Address
Mailing Address
Telephone Number
Email Address
Description of Services Provided
Dates of Service
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