RFP AWARD RECOMMENDATION
CITY OF RIVERSIDE
Finance Department
DATE SUBMITTED: 06/25/2024
RFP NO.
2342
RFP TITLE
Section 115 Pension Trust
DEPARTMENT/DIVISION
Finance
DATE RFP OPENED
01/08/2024
PROPOSALS RECEIVED (3) INVITATIONS ISSUED (Online)
PROPOSERS CITY EVALUATION RANKING
Schuster Advisory Group, LLC Pasadena, CA 1
Phase II Systems Newport Beach, CA 2
California Public Employees’
Retirement System
Sacramento, CA 3
RFP DESCRIPTION: The City of Riverside (“City”) is seeking a qualified entity or individual (“Company”) to provide trust and investment management services to California local government agencies related to IRS Code Section 115. The City anticipates selecting one firm to perform the services.
RFP Recommended For Award (Includes Sales Tax) 10% Surety Included Contract 10% Surety not required Purchase Order
Best Ranking Proposer Amount of Award
Schuster Advisory Group, LLC NTE 0.10% (10 basis points) per annum
COMMENTS:
The Finance Department has evaluated all proposals received and is requesting that award be made to the best overall solution based on the evaluation process. The Purchasing Division concurs that the action to award is in compliance with Purchasing Resolution 24101.
Submitted by: Purchasing Manager Date:
06/05/2024