Project Title: Deferred Compensation Consulting and Audit Services
Project #: RFP-86-2020
Issued by: Multnomah County view agency website
Publish Date: 2/8/2020
Due Date: 4/1/2020 This opportunity has closed.

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Addendum 1/ Amendment 1: Added on February 24, 2020•Acknowledgement of Addendum 1/ Amendment 1 prerequisite has been added to the prerequisites page.•Addendum 1 added to the Buyer Attachments tab containing the following:Addition: Description Tab, Scope of Services, Part 1 Contractor shall perform the following Work, Section A,Item vi  Deletion: Description Tab, Scope of Services, Part 1 Contractor shall perform the following Work,Section C  Answers to questions submitted thought the Q&A Board___________________________________________________PRE-PROPOSAL CONFERENCE There will be a pre-proposal conference for this Solicitation on February 19. 2020 at 9:30 AM, at 501 SE Hawthorn Blvd., 4th Floor Oak Conference Room, Portland, Oregon 97214. Proposers will also have the ability to call into the pre-proposal conference using the below information: •Address: •Phone Number: (508) 622-5395 PIN: 155 672#Attendance is: Optional. SERVICE DESCRIPTION, FUNDING, AND CONTRACTING INFORMATIONIntroduction and Program HistoryMultnomah County (County) is seeking a firm to provide consulting services, formal solicitation services, and audit services for the County deferred compensation plan. These services are currently being provided; however, in accordance with state and County rules, these services are being competitively procured to reestablish the authority to enter into another five (5) year agreement with the awarded firm.GOALS AND VALUESThe purpose of these services and the deferred compensation plan is to attract and retain eligible employees by permitting them to enter into agreements with the County which will provide for the payment of deferred compensation on retirement or separation from the services. FUNDINGFunding is budgeted each year by the County for the performance of these services.CONFLICT OF INTERESTProposer cannot be affiliated in any manner whatsoever, either directly or indirectly, with any organization that provides brokerage, insurance, investment management, or any other services that constitutes a conflict of interest. The proposer may not derive compensation from any brokerage, insurance, investment management, or other provider that constitutes a conflict of interest.SCOPE OF SERVICES Contractor shall perform the following Work: Contractor will provide consulting services for the County and perform the following specific services in support of the County deferred compensation program: Contractor will provide a full analysis of investment options offered by deferred compensation providers to compare investment performance to benchmark indices, pursuant to County's current Deferred Compensation Plan Investment Policy Statement, attached as Attachment A and hereby incorporated by reference; Contractor will conduct a comprehensive review of County's investment provider performance per applicable contract terms and conditions, evaluate service performance, redefine performance standards, and make recommendations of penalties and/or corrective measures; Contractor will provide analysis and recommendations to County verbally, in writing in a format that is ready to post to County's intranet website; Contractor will review and recommend updates and improvements to the County's Investment Policy Statement document and other plan governance documents and provide consultation on the implementation of policy objectives; and As requested by the County, Contractor will provide plan education to the County's Deferred Compensation Committee and selected other as identified by the County. As requested by the County, Contractor will assist in the development and provide subject matter expertise for a Request for Proposal (RFP) sourcing event for the County's investment provider. Contractor will assist the County in the development and processing of the RFP in its totality. Contractor will facilitate contract negotiations with the awarded proposer and any other transitional management necessary to establish a new service provider for the deferred compensation services. As requested by the County on a periodic basis, Contractor will conduct professional audit services for the County deferred compensation program. Audit services will include comprehensive review for compliance win the following areas: Audit of transactions to ensure compliance with County's current plan document and Internal Revenue Service (IRS) regulations; Audit catch-up contributions to ensure compliance with applicable legal and policy parameters; and Audit general program aspects that would be subject to an actual IRS audit of the program and make recommendations to County for improvements or changes necessary in order to become or remain fully compliant. Performance Standards Contractor will provide annual investment performance evaluations. The report will be delivered to County five (5) business days in advance of the County's deferred compensation committee meeting as scheduled by County. Failure to provide this report in a timely manner may result in a penalty to the Contractor of two thousand dollars ($2,000) per review. Contractor will review the County's investment policy statement on an annual basis and will recommend revisions necessary for the plan to remain compliant with current laws and rules. An electronic copy will be provided for the County's use in participant communication. Failure to provide this information in a timely manner may result in a penalty to the Contractor of five hundred dollars ($500) per review. Contractor will evaluate the deferred compensation provider performance under the County's contract with the provider. This will include solicitation of measurement information from the provider, assessment of the provider's adherence to performance measures, a written summary for the County deferred compensation committee, and recommended action steps to cure any standards not meet. Failure to perform this evaluation may result in a penalty to the Contractor for one thousand dollars ($1,000) per review. If necessary, County and Contractor will mutually develop a Contractor improvement plan to address areas of Contractor customer service that may require improvement. If an improvement identified in the improvement plan remains unimproved for two (2) consecutive quarters, County may choose to withhold ten percent (10%) of the second quarter payment as a penalty. Quarterly and Annual Business Review Upon the commencement of this Contract, Contractor's assigned consultant will collaborate with County to define a service strategy to meet County's needs. Contractor will document this service strategy as mutually agreed upon by the Parties. The assigned consultant shall adhere to the business goals and timelines established in the service strategy. The assigned consultant shall thereafter be available for quarterly and annual business review meetings to determine if Contractor has met the County's business goals and timelines as set forth in the service strategy. The agenda for each quarterly business review meeting shall be determined by County and shall include such agenda items as key performance indicators, customer service, information reporting, and new services. The quarterly and annual business review meetings may also be used to adjust the service strategy at the discretion of County. Additional topics of importance to County may be added to the agenda which will be provided to Contractor prior to any scheduled meeting. Meeting data, time, and place shall be determined by the County. CONTRACT NEGOTIATIONThe County will initiate contract negotiations with the responsive and responsible Proposer with the highest scoring proposal. Multnomah County may, at its option, elect to negotiate general contract terms and conditions, services, pricing, implementation schedules, and such other terms as the County determines are in the County's best interest. If negotiations fail to result in a contract, the County reserves the right to terminate the negotiations and initiate contract negotiations with the next highest scoring responsive and responsible Proposer. This process may continue until a contract agreement is reached. CONTRACT AWARDThrough this Request for Proposals (RFP) process, the County is seeking to award one contract. Award, as determined by the County, will be made to the responsible proposer whose proposal the County determines is most advantageous to the County based on the evaluation process and evaluation factors described in this RFP.CONTRACT TERMThe contract term will be for three (3) years with one (1) option to renew for two (2) additional years.COMPENSATION AND METHOD OF PAYMENTCounty will pay proposer an all inclusive rate for consulting services paid on a quarterly basis. Additional services will be billed at an all inclusive rate independently from the consulting services provided.INSURANCE REQUIREMENTSInsurance requirements are as follows: •Professional Liability insurance covering any damages caused by error, omission or any negligent acts of the Contractor, its sub-contractors, agents, officers or employees performance under the contract. Combined single limit per occurrence shall not be less than $1,000,000. Annual Aggregate limit shall not be less than $2,000,000. •Commercial General Liability insurance with coverages satisfactory to the County, on an occurrence basis with a combined single limit of not less than $1,000,000 each occurrence for Bodily Injury and Property Damage, with an annual aggregate limit of $2,000,000. Coverage may be written in combination with Auto Liability Insurance (with separate limits). •Workers' Compensation insurance in compliance with ORS 656.017, which requires subject employers to provide workers' compensation coverage in accordance with ORS Chapter 656 ir CCB (Construction Contractors Board) for all subject workers. Contractor and all subcontractors of Contractor with one or more employees must have this insurance unless exempt under ORS 656.027.MINIMUM REQUIREMENTSAt time of proposal submission, proposers must meet the following minimum requirements. Failure to provide any of the required documents or meet any of the below requirements shall result in rejection of the proposal. The proposer response must be received by Multnomah County Purchasing no later than 4:00 PM local Portland time on the proposal submission deadline. Proposer Representations and CertificationsThe proposer must certify that they agree to the proposers Representations and Certification terms in the Pre-requisite page of the Sourcing Event. At the time of contracting, proposers must meet the following minimum requirements. Failure to provide any of the required documents or meet any of the below requirements will result in cancellation of the contract. Proposers must be legal entities, currently registered to do business in the State of Oregon (per ORS 60.701). Proposer must submit verification that all insurance requirements are met. Proposers must have a completed Pre-Award Risk Assessment if federal funds are used for this sourcing event (See Procedural Instructions in the Buyers Attachments page of this sourcing event).


About Multnomah County

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If your firm is interested in an opportunity posted on our webpage, we'd love to hear from you. Here's how:

  1. First, read over the opportunity description.
  2. Next, go to the Multnomah County Bids and Opportunities page for this specific solicitation:
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Multnomah County competitively procures materials and services, taking into consideration the best combination of price, quality and service. We look forward to hearing from you. Whether this is your first bid proposal, or you've worked with us before, we look forward to doing business with you.