RFP 23/24-09 - RFP 23/24-09 INVESTMENT ADVISOR 457(B) DEFERRED COMPENSATION PLAN

The City of Romulus, Michigan is seeking proposals from qualified Investment Advisors and companies to provide investment advising and administrative services for the Plan.

Qualified firms wishing to submit a proposal must use the forms provided by the City unless otherwise noted.  Proposal forms and specifications may be obtained from the MITN system at http://www.mitn.info/. Copies of documents obtained from any other source are not considered official copies.  Proposals may be rejected unless made on the forms included with the bidding documents.

1. Questions must be emailed to Purchasing@romulusgov.com and received no later than 12:00 P.M. local time on February 1, 2024.
2. Clarifications, modifications, or amendments may be made to this solicitation at the discretion of the City.  Any and all addenda issued by the City will be posted on the MITN system.  All interested parties are instructed to view the MITN website regularly for any issued addenda.  It is the responsibility of the bidder to obtain all issued addenda and acknowledge receipt of said addenda by including a printed copy of each addendum as part of the required documents for this solicitation and to list the addendum and sign and date the “Acknowledgment of Receipt Addenda Form: supplied in the RFP documents.
3. Proposals must be received no later than 2:00 P.M. local time, Thursday, February 8, 2024.  Companies can submit hard copies of their documents. Companies submitting hardcopies, must submit a total of four (4) copies (one marked “Original” and three marked “Copy”) along with one (1) copy in "PDF" form on a digital storage device (i.e. Flash Drive).  The “Original” proposal may be clipped but should not be stapled or bound. Copies may be stapled or bound. The original and copies should be identical, excluding the obvious difference in labeling. The RFP Table of Content page cover page should be placed as the cover page for all copies of the proposal submitted.  Companies submitting hard copies should submit all copies together in one sealed envelope or package.  The package should be addressed using the “RFP PROPOSAL MAILING LABEL” provided in the solicitation documents. 
4. At approximately 3:00 p.m. local time, February 8, 2024, receipt of all timely received proposals will be acknowledged and publicly opened.
5. The City reserves the right to postpone the opening without notification and also reserves the right to reject all proposals and to waive any minor informality or irregularity in proposals received. Ultimately, a contract may be awarded to the most responsive and responsible firm(s), as determined in the sole discretion of the City of Romulus or otherwise in a manner deemed by the City to be in its own best interest.
6. The City reserves the right to enter into the contract with multiple investment advisor firms if in its sole discretion it deems to be in the best interest of the City of Romulus and the plan participants.
7. The City reserves the right to reject as non-responsive any proposals that do not contain the information requested in this RFP.
8. The City reserves the right to reject as non-responsive any proposals which are not organized and formatted as described in this RFP.
9. The City, during the course of the evaluation process, may request additional written information to supplement and clarify the information provided in this response.
10. The City, at the discretion of the proposal evaluation team, may conduct interviews with some or all of the companies that submitted proposals for consideration.
11. For additional information contact Gary Harris, City of Romulus, Purchasing Director, by calling (734) 955-4568 or by emailing purchasing@romulusgov.com .
12. The City of Romulus strictly prohibits the reproduction or publishing of any published document or solicitation without the express written consent of the City of Romulus.  Unauthorized posting of any notice of these documents or reference to said documents or solicitations is strictly prohibited.