Retirement Plan Investment Consulting Services

C O U N T Y o f R O C K I N G H A M 20 E. Gay Street
Harrisonburg, VA 22802
Request for Proposal
REQUEST FOR PROPOSAL # 26-0326-01
Retirement Plan Investment Consulting Services
This procurement is governed by the Virginia Public Procurement Act and all terms and conditions of the
Act are hereby adopted and are made a part of this notice.
Contact Information:
Rebecca Guthrie
Director of Finance
20 E. Gay Street
Harrisonburg, VA 22802
(540) 564-3010
rguthrie@rockinghamcountyva.gov

Table of Contents
1.0 PURPOSE.........................................................................................................................................4
2.0 BACKGROUND.................................................................................................................................4
3.0 SCOPE OF SERVICES........................................................................................................................4
4.0 PROPOSAL PREPARATION AND SUBMISSION.................................................................................5
5.0 EVALUATION CRITERIA................................................................................................................... 6
6.0 AWARD CRITERIA AND CONTRACT TERM.......................................................................................6
7.0 GENERAL TERMS AND CONDITIONS...............................................................................................7
7.1 APPLICABLE LAWS......................................................................................................................7
7.2 ANTI-DISCRIMINATION...............................................................................................................7
7.3 AMERICANS WITH DISABILITIES ACT COMPLIANCE....................................................................8
7.4 NONVISUAL ACCESS TO TECHNOLOGY.......................................................................................8
7.5 ETHICS IN PUBLIC CONTRACTING...............................................................................................9
7.6 IMMIGRATION REFORM AND CONTROL ACT OF 1986.............................................................10
7.7 ANTITRUST................................................................................................................................10
7.8 CLARIFICATION OF TERMS........................................................................................................10
7.9 PAYMENT..................................................................................................................................10
7.10 QUALIFICATIONS OF OFFERORS...............................................................................................10
7.11 TESTING AND INSPECTION.......................................................................................................10
7.12 CHANGES TO THE CONTRACT...................................................................................................10
7.13 DEFAULT...................................................................................................................................11
7.14 TAXES........................................................................................................................................11
7.15 INSURANCE...............................................................................................................................11
7.16 DRUG FREE WORKPLACE..........................................................................................................14
7.17 NONDISCRIMINATION OF CONTRACTORS................................................................................14
7.18 AUDIT....................................................................................................................................... 14
7.19 NON-APPROPRIATION..............................................................................................................14
7.20 COOPERATIVE PURCHASING/USE OF AGREEMENT BY THIRD PARTIES....................................15
7.21 CONTRACT DOCUMENTS..........................................................................................................15
7.22 LAWS AND REGULATIONS.......................................................................................................15
7.23 PROOF OF AUTHORITY TO TRANSACT BUSINESS IN VIRGINIA.............................................16
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7.24 PREPARATION AND SUBMISSION OF PROPOSALS................................................................16
7.25 WITHDRAWAL OR MODIFICATION OF PROPOSALS...............................................................16
7.26 RECEIPT AND OPENING OF PROPOSALS................................................................................16
7.27 PROPRIETARY INFORMATION.................................................................................................16
7.28 PROPOSAL ACCEPTANCE PERIOD.............................................................................................17
7.29 TERMINATION BY THE COUNTY FOR CONVENIENCE................................................................17
7.30 DEBARMENT STATUS................................................................................................................17
8.0 SIGNATURE SHEET - RFP # 26-0326-01........................................................................................18
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1.0 PURPOSE
TheCountyofRockingham,(theCounty)apoliticalsubdivisionoftheStateofVirginiaisseekingproposals
fromqualifiedindependentfirmsauthorizedtodobusinessintheStateofVirginia,toprovideinvestment
consulting services for a program that provides supplemental retirement plans to participants who are
employees or retirees of the County, with the goal of ensuring its fiduciary responsibilities are met.
2.0 BACKGROUND
Rockingham County is located in the center of the beautiful Shenandoah Valley of Virginia. Nestled
between the Blue Ridge Mountains on the east and the Alleghenies on the west, the County is located
alongtheInterstate81corridorandonlyatwo-hourdrivetoWashington,DC. RockinghamCountyisthe
third largest county in Virginia and encompasses the Harrisonburg-Rockingham metropolitan area.
TheCountysponsorsaSection457(b)plan,whichisavailabletoallCountyemployeeswithnoemployer
matching contribution component.
Assets in the 457(b) plan as of March 13, 2026 were:
Asset Class Balance
Asset Allocation $5,536,957.54
International 485,333.54
Small Cap 127,421.61
Mid Cap 331,667.37
Large Cap 915,299.57
Bond 354,640.72
Fixed 260,389.64
Specialty 38,404.48
Total $8,050,114.47
3.0 SCOPE OF SERVICES
Theselectedfirm,underthedirectionoftheCounty,shallperforminasatisfactoryandpropermannerall
the necessary services required under this solicitation including, but not necessarily limited to, the
following services:
a. ProvideindependentandobjectiveadvicetotheCountyforthepurposeofassistingthe
County in meeting its fiduciary responsibilities. The Contractor shall provide research,
analysis, advice, and recommendations with respect to supervision of the governance
functionsandanyappropriaterevisionstoinvestmentpolicies,information,selectionof
funds for inclusion in the program and fund/administrator performance evaluation.
Additional services, including financial or investment advice, may be requested
periodically.
b. If necessary, provide assistance with the solicitation process for plan administration
services, including selection criteria, identification of prospective vendor contacts,
evaluationofproposals,interviewsofselectedfirms,andquantifiedrankingsofofferors.
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c. Review and evaluate the County's investment policies to ensure consistency with the
County's responsibilities as plan sponsor and generally accepted best practices in the
industry.
d. Assist the County in analyzing available investment options with the objective of
complying with established investment policies.
e. Evaluate investments in the supplemental retirement plan, examining style, risk,
consistency,costandperformanceagainstexpectationsandbenchmarks.Totheextent
an investment does not meet established objectives, recommend action to "watch list"
or terminate the fund, and make a recommendation for replacement and transition.
f. UponrequestbytheCounty,conduct anexpenseauditofthesupplementalretirement
planusingdatareceivedfromtheCountyorobtainedfromtheadministrator,andprovide
an analysis of all fees (explicit and implicit) being paid by the program.
g. Orchestratequarterlymeetingsandprovidequarterlywrittenperformancereportsofthe
program,includinginformationonmanagerperformance,risk,costs,peeranalysis,style,
and consistency for each fund in the program.
h. Present the program to staff and/or the board of supervisors as deemed necessary.
4.0 PROPOSAL PREPARATION AND SUBMISSION
Proposal shall address the items included in the Purpose, Scope of Services and the Evaluation Criteria.
Proposals shall be as thorough and detailed as possible so that the County may properly evaluate
capabilities to provide the required services. Offerors are required to submit the following items as a
complete proposal:
Section 1 - Signed Signature Sheet (Section 8.0)
Section 2 - Plan/Methodology: Provide a description of the methodology for providing the services
described in the Scope of Services, and a specific plan for providing the services, to include:
a. What, when, and how the services will be performed.
b. The method to be used to collaborate with County staff to establish outcome goals;
measurable performance indicators; timeline for measurement; and the scope and
format to report performance.
c. Samples of any forms, procedural guidelines, etc. proposed for implementing the
plan/methodology.
d. Sample agenda of quarterly committee meetings.
e. Any level of support/resources expected from the County if awarded a contract.
f. Illustration of how the County will meet its fiduciary responsibility if selected.
g. Additionalinformationtheofferor'sfirmwouldliketheCountytoconsiderrelatedtothe
offeror's specific plan and/or methodology.
Section 3 - Qualifications/Experience: Provide the following:
a. Abriefcompanyprofile,includingthecompany'soverallpurposeandmissionstatement;
experience providing relevant services; number and types of employees; and what sets
the offeror's company apart from other companies.
b. Resume of each staff member the offeror proposes to assign to perform the work,
including appropriate certifications.
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c. References.
d. Additionalinformationtheofferor'sfirmwouldliketheCountytoconsiderrelatedtothe
offeror's qualifications and experience.
Section4-Price: Provideadetailedpricingschedulefortheproposedgoodsandservices,includingall
associated costs. Also provide a desired payment schedule.
Send one original and three copies of the clearly marked proposal "RFP # 26-0326-01 Retirement Plan
InvestmentConsultingServices"nolaterthanFriday,April24,2026at2:30pmtoCountyofRockingham,
Attention: Rebecca Guthrie, 20 East Gay Street, Harrisonburg VA 22802. A removable media storage
devicecontainingtwo(2)digitalcopiesoftheproposal,oneassubmitted,andoneasredactedtoremove
all confidential and proprietary material, must be included in the proposal packet.
Electronic submissions can also be submitted through the County's website or using the following link
https://va-rockinghamcounty2.civicplus.com/FormCenter/Email-Forms-13/Procurement-200. However, if a
proposal is electronically submitted, paper and digital copies will still be required to be submitted to the
Finance Office by the deadline in the same manner as noted above.
The time of the receipt shall be determined by the time clock stamp in the Finance office. If the
RockinghamCountyAdministrationCenterisclosedforbusinessatthetimescheduledfortheproposal
submission,thesealedproposalwillbeacceptedandopenedonthenextbusinessdayoftheCounty,at
the originally scheduled hour.
Itistheresponsibilityoftheofferortoensurethattheirproposalreachestheappropriateofficepriortothe
date and time of closing. Late bids will not be accepted.
Questions should be sent to Rebecca Guthrie in the Finance Department at e-mail address
rguthrie@rockinghamcountyva.gov. Questions and answers will be posted on the County's website.
5.0 EVALUATION CRITERIA
ProposalsreceivedwillbeevaluatedandrankedintheorderoftheOfferorsmostlikelytomeettheneeds
of the County and satisfy the requirements described in this RFP using the following evaluation criteria:
a. Specificplansormethodologytobeusedtoperformtheservices. Theability,capacity,
and skill of the firm to perform the work described herein in a manner consistent with
the County's goals and standards. (45)
b. Qualifications and Experience. (30)
c. Price. (25)
Eachevaluationcriterionhasbeenassignedamaximumnumberofpointsthatdemonstratesitsrelative
importance.Thetotalscorewillbedeterminedasfollows:(a)TheEvaluationTeamwillassignanumerical
scoreforeachsectionbasedonthequalificationsoftheproposal. Noproposalcanearnmorethanthe
maximumnumberofpointsinanySection. (b)ThescoresforeachSectionwillbeaddedtogether.This
score will be the total score for the proposal.
6.0 AWARD CRITERIA AND CONTRACT TERM
Selectionshallbemadeoftwoormoreofferorsdeemedtobefullyqualifiedandbestsuitedamongthose
submitting proposals on the basis of the evaluation factors included in Section 5.0, including price, if so
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stated. Negotiationsshallbeconductedwiththeofferorssoselected. Priceshallbeconsidered,butneed
notbethesoledeterminingfactor. Afternegotiationshavebeenconductedwitheachofferorsoselected,
theCountyshallselecttheofferorwhich,initsopinion,hasmadethebestproposalandprovidesthebest
value, and shall award the contract to that offeror.
ShouldtheCountydetermineinwritingandinitssolediscretionthatonlyoneofferorisfullyqualified,or
thatoneofferorisclearlymorehighlyqualifiedthantheothersunderconsideration,acontractmaybe
negotiated and awarded to that offeror.
TheNoticeofAwardwillbepostedtotheCountywebsiteunder"AwardedSolicitations"aftertheBoard
awardsthecontract. Anyofferorwhodesirestoprotesttheawardordecisiontoawardacontractshall
submittheprotestinwritingtotheRockinghamCountyPurchasingAgentnolaterthantendaysafterthe
awarddateoftheBoardofSupervisorsordateoftheNoticeofAward,whichevercomesfirst(2.2-4360).
The award document will be a contract incorporating by reference all the requirements, terms and
conditions of the solicitation and the contractor's proposal as negotiated.
TheCountymaycancelthisRequestforProposalsorrejectproposalsatanytimepriortoanaward.The
Countyisnotrequiredtofurnishastatementofthereasonswhyaparticularproposalasnotdeemedto
be the most advantageous (Code of Virginia, 2.2-4359D).
TheBoardofSupervisorsreservestherighttorejectanyandallproposals,andtoacceptproposalsthat
are in the best interests of the County, in the County's sole discretion.
Thecontracttermforthisagreementshallbeforathree-yearperiod. Byagreementofbothparties,the
contract may be renewable for two additional one-year periods.
7.0 GENERAL TERMS AND CONDITIONS
7.1 APPLICABLE LAWS
This solicitation and any resulting contract shall be governed in all respects by the laws of the
CommonwealthofVirginiaandanylitigationwithrespecttheretoshallbebroughtinthestateorfederal
courtofappropriatejurisdictionlocatedintheCityofHarrisonburg,Virginia.Thecontractorshallcomply
with all applicable federal, state and local laws, rules and regulations.
7.2 ANTI-DISCRIMINATION
By submitting their proposals, Offerors certify to the County that they will conform to the provisions of
theFederalCivilRightsActof1964,asamended,aswellastheVirginiaFairEmploymentContractingActof
1975,asamended,whereapplicable,theVirginiansWithDisabilitiesAct,theAmericansWithDisabilities
Act and 2.2-4311 of the Virginia Public Procurement Act (VPPA). If the award is made to a faith-based
organization, the organization shall not discriminate against any recipient of goods, services, or
disbursements made pursuant to the contract on the basis of the recipient's religion, Religious belief,
refusaltoparticipateinareligiouspractice,oronthebasisofrace,age,color,genderornationalorigin
andshallbesubjecttothesamerulesasotherorganizationsthatcontractwithpublicbodiestoaccountfor
the use of the funds provided; however, if the faith-based organization segregates public funds into
separateaccounts,onlytheaccountsandprogramsfundedwithpublicfundsshallbeSubjecttoauditby
the public body. (Code of Virginia, 2.2-4343.1E).
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In every contract over $10,000 the provisions in 1. and 2. below apply:
During the performance of this contract, the contractor agrees as follows:
1. Thecontractorwillnotdiscriminateagainstanyemployeeorapplicantforemploymentbecause
ofrace,religion,color,sex,nationalorigin,age,disability,oranyotherbasisprohibitedbystate
law relating to discrimination in employment, except where there is a bona fide occupational
qualification reasonably necessary to the normal operation of the contractor. The contractor
agrees to post in conspicuous places, available to employees and applicants for
employment, notices setting forth the provisions of this nondiscrimination clause.
2. Thecontractor,inallsolicitationsoradvertisementsforemployeesplacedbyoronbehalfofthe
contractor, will state that such contractor is an equal opportunity employer.
3. Notices, advertisements and solicitations placed in accordance with federal law, rule or
regulation shall be deemed sufficient for the purpose of meeting these requirements.
4. Thecontractorwillincludetheprovisionsof1aboveineverysubcontractorpurchaseorderover
$10,000, so that the provisions will be binding upon each subcontractor or vendor.
7.3 AMERICANS WITH DISABILITIES ACT COMPLIANCE
Information and Communications Technology (ICT) is defined as "any website, application, or other
product or service primarily intended to fulfill or enable the function of information processing and
communication by electronic means, including transmission and display via the Internet" (Code of
Virginia 2.2-3501). All ICT procured through this proposal process must meet the applicable
accessibility standards of Section 508 of the Rehabilitation Act of 1973 (29 U.S.C. 794d) as amended and
is viewable at http://www.section508.gov. ICT must be compliant with guidelines referenced in Code of
Virginia 2.2-3500 - 2.2-3504.
1. Suppliers must certify compliance with WCAG 2.1 Level A or Level AA by providing an
Accessibility Conformance Report (ACR) or Voluntary Product Accessibility Template (VPAT). If
not in compliance, the supplier must provide at supplier-expense a "completed accessibility
conformance report indicating the level of conformance with accessibility." Areas of non-
conformance require supplier submit a completed Vendor Accessibility Roadmap outlining non-
compliant areas and providing timeline for compliance. (Code of Virginia 2.2-3503).
2. Non-accessible ICT may be considered if the product does not preclude individuals with
disabilities from the benefit(s) of any program, service or activity provided (Code of Virginia 2.2-
3503).
3. Submission of proposals to include ACR or VPAT or other documents as above is necessary to
show compliance with Code of Virginia 2.2-3500-3504, 29 USC 794d (Electronic and
information technology), 47 USC 255 (Access by individuals with disabilities), and 28 CFR
35.200 (Requirements for web and mobile accessibility).
7.4 NONVISUAL ACCESS TO TECHNOLOGY
All information technology (the "Technology") which is purchased or upgraded by the VCCS will comply
with the following nonvisual access standards from the date of purchase or upgrade until the expiration
of the contract:
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1. Effective, interactive control and use of the Technology shall be readily achievable by
nonvisual means.
2. Technology equipped for nonvisual access shall be compatible with information technology
used by other individuals with whom any blind or visually impaired user of the Technology
interacts.
3. Nonvisual access technology shall be integrated into any networks used to share
communications among employees, program participants or the public; and
4. Technology for nonvisual access shall have the capability of providing equivalent access by
nonvisual means to telecommunications or other interconnected network services used by
persons who are not blind or visually impaired.
5. Installation of hardware, software, or peripheral devices used for nonvisual access is not
required when the Technology is being used exclusively by individuals who are not blind or
visually impaired, but applications programs and underlying operating systems (including
the format of the data) used for the manipulation and presentation of information shall
permit the installation and effective use of nonvisual access software and peripheral
devices.
These terms are intended to comply with the Information Technology Access Act, 2.2-3500 through
2.2-3504 of the Code of Virginia.
In addition, the contract will include the following Information Technology Terms and Conditions:
1. Sensitive Information. In instances where any contract, purchase order, or Scope of Work is for
the provision of Public Cloud Services where VCCS sensitive data may be exchanged, Contractor
shall provide an independently certified System and Organization Controls (SOC) 2 Type 2 Audit
Report or a SOC Cybersecurity Report or equivalent certification for all parties to the contract
and annual updates during the term of the contract.
2. Issue Notification: If either party detects any AI-related issues, including data breaches,
inaccurate, biased, or unrepresentative outputs, they must promptly notify the other party
within 24 hours, providing a detailed description and immediate mitigation steps. Both parties
will collaborate on a remediation plan, with the customer having the right to suspend AI use
until the issue is resolved. If unresolved within 30 days, the customer may terminate the
agreement without penalty. Both parties agree to act diligently and bear their own costs for
issue resolution.
7.5 ETHICS IN PUBLIC CONTRACTING
Bysubmittingtheirproposals,Offerorscertifythattheirproposalsaremadewithoutcollusionorfraudand
thattheyhavenotofferedorreceivedanykickbacksorinducementsfromanyotherofferor,supplier,
manufacturer or subcontractor in connection with their proposal), and that they have not conferred on
any public employee having official responsibility for this procurement transaction any payment,
loan, subscription, advance, deposit of money, services or anything of more than nominal value,
present or promised, unless consideration of substantially equal or greater value was exchanged.
TheOfferorshallidentifyanyactualorpotentialconflictsofinterestthatexist,orwhichmayariseifthe
offeror is recommended for award, and propose how such conflicts might be resolved.
By their signature on the proposal documents submitted, each Offeror attests that their agents and
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employees,tothebestoftheirknowledgeandbelief,havenotinanywaycolludedwithanyoneforandon
behalfoftheofferor,orthemselves,toobtaininformationthatwouldgivetheOfferoranunfairadvantage
over others, nor have they colluded with anyone for and on behalf of the offeror, or itself, to gain any
favoritism in the award of this Request for Proposal.
7.6 IMMIGRATION REFORM AND CONTROL ACT OF 1986
By submitting their proposals, Offerors certify that they do not and will not during the performance of
this contract employ illegal alien workers or otherwise violate the provisions of the federal
Immigration Reform and Control Act of 1986.
7.7 ANTITRUST
Byenteringintoacontract,thecontractorconveys,sells,assigns,andtransferstoRockinghamCountyall
rights,titleandinterestinandtoallcausesofactionitmaynowhaveorhereafteracquireunderthe
antitrust laws of the United States and Rockingham County, relating to the particular goods or services
purchased or acquired by Rockingham County under said contract.
7.8 CLARIFICATION OF TERMS
If an offeror has questions about any specifications or other solicitation documents, the Offeror should
contacttheCountynolaterthantenworkingdaysbeforetheduedate. AnyrevisionstothisRFPwillbe
made only by an addendum issued by the County.
7.9 PAYMENT
Payment will be made upon completion of the project.
7.10QUALIFICATIONS OF OFFERORS
TheCountymaymakesuchreasonableinvestigationsasdeemedproperandnecessarytodeterminethe
ability of Offerors to perform the services required. The Offeror shall furnish to the County all such
information and data for this purpose as may be requested. The County reserves the right to inspect
Offeror's physical facilities prior to award to satisfy questions regarding the offeror's capabilities.
The County further reserves the right to reject any proposal if the evidence submitted by, or
investigationsof,suchOfferorfailstosatisfytheCountythatsuchOfferorisproperlyqualifiedtocarryout
the obligations of the contract and to provide the services contemplated.
7.11TESTING AND INSPECTION
TheCountyreservestherighttoconductanytestorinspectionitdeemsadvisabletoassureservicesconform
to the RFP.
7.12 CHANGES TO THE CONTRACT
Changes can be made to the contract in any of the following ways:
1. Thepartiesmayagreeinwritingtomodifythescopeofthecontract. Anincreaseordecreasein
the price of the contract resulting from such modification shall be agreed to by the parties as a
part of their written agreement to modify the scope of the contract.
2. The County may order changes within the general scope of the contract at any time by written
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