August 6, 2004
Please note the following changes which have been made for clarification to this Invitation
For Sealed Bid. This addendum must be listed included with your proposal package to be
eligible for consideration of award.
Can you provide us with a list of your current managers? This will help us gauge the extent of work
needed in the first year if in our opinion some of those managers need to be replaced with better
Large Cap (Domestic) Equity – Lotsoff Capital and State Street
Small Cap (Domestic) Equity – Ark Asset Management and Westcap Investors
International Equity – BGI Index, Templeton Foreign & Vanguard International
Fixed Income – BGI US Debt Index and Seix Investment Advisors
Real Estate – J.P. Morgan Real Estate
Cash (Contribution Account) - Bank One Group Money Market Account
1. Why is the fund conducting a search for an investment consultant?
It is the Trustees fiduciary responsibility to check the market to ensure the fund is receiving the
best service at the best price.
2. How many consulting firms received RFPs in this process? A minimum of fifteen
3. Has a budget or maximum fee level for the investment consultant’s retainer fee been
4. If so, what is the budgeted amount? Not applicable
5. The RFP contemplates quarterly meetings and a one-day educational seminar in January. Is the
seminar held in conjunction with a quarterly meeting or is it held separately? Are there other
meetings in a “normal” year that the MERP’s investment consultant would be expected to
The trustee education is separate from the quarterly presentations. In the event there is a
manager search, the consultant would be expected to attend the interviews.
6. The RFP states that travel expenses will not be reimbursed. Does this include investment
manager due diligence visits made by the consultant at the request of the MERP?
The MERP has yet to ask its consultant to make a due diligence visit. It is expected due
diligence visits is a normal function the consultant performs on a regular basis.
Page 1 of 23
7. The fund presently has 8% of assets invested in real estate. In what type of vehicle(s) are these
investments held, i.e., direct property ownership, commingled funds, or limited partnerships?
We participate in the J.P. Morgan Commingled fund
Page 2 of 23
INVITATION FOR SEALED PROPOSAL
Description: Consulting Services
NIGP Commodity Code(s): 918-49-00-000-0
Note: Faxing of Proposal Not Accepted
Important Instruction – Read Carefully:
If you have obtained these bid specifications from either of:
City of Tulsa's Fax-on-Demand (918-596-1171) or
City of Tulsa's Website : http://www.cityoftulsapurchasing.org/
you must notify the buyer Patricia Cummings of your intent to bid by
e-mail at email@example.com in order to receive addenda. The buyer
will always acknowledge your e-mail for your records. All addenda
will be posted on fax-on-demand and the website.
Page 3 of 23
TABLE OF CONTENTS
Pay special attention to those pages with a reference to the following notes:
Note #1: Signature of authorized agent required
Note #2: Signature of an authorized agent and notarized required
Table of Contents 2
Invitation for Sealed Proposal ( Note #1 ) 3
Interest Affidavit ( Note #2 ) 4
Bidder Affidavit ( Note #2 ) 5
Contractor Information Sheet 6
Price Summary 7
Attachment I 11-18
Attachment II 19
Your bid response should follow the same format listed above plus any additional
format requested in the body of the bid invitation.
Page 4 of 23
INVITATION FOR SEALED PROPOSAL
City of Tulsa
200 CIVIC CENTER, ROOM 109, TULSA, OKLAHOMA 74103
Bid number and date of bid opening must appear on the lower
left outside corner of bid envelopes and all related containers.
DATE OF OPENING: August 19, 2004 BID NUMBER: RFP 04-701
BID MUST BE IN THE CITY CLERK'S OFFICE AT THE ABOVE ADDRESS BY 5:00 P.M. THE DAY
PRECEDING THE "DATE OF OPENING" SHOWN ABOVE.
BIDS WILL BE OPENED AT 8:30 A.M. IN THE CITY COUNCIL ROOM ON THE DAY SPECIFIED UNDER "DATE OF OPENING."
PUBLISHED IN THE TULSA DAILY COMMERCE AND LEGAL NEWS: ____July 21, 2004_____________
Bid must be accompanied by bidder’s bond, cashier’s check or certified check in the amount of:____NONE__________
PLEASE READ TERMS AND CONDITIONS ON THE NEXT PAGE BEFORE COMPLETING BID DOCUMENTS
*************** THE FOLLOWING SECTION MUST BE COMPLETED BY BIDDER ***************
Enclosed is a [ ] BID BOND ; [ ]CASHIER’S CHECK; [ ] Certified Check in the amount of $____-0-________________,
which I agree the City of Tulsa may retain as liquidated damages in the event of my failure to comply with the terms of this
MUST BE SIGNED BY AUTHORIZED AGENT TO BE VALID
FIRM NAME _____________________________________________________________ by ___________________________________________________
SIGNATURE OF AUTHORIZED AGENT
STREET ________________________________________________________________ TITLE ________________________________________________
CITY STATE________________________________ZIP CODE______________PHONE NUMBER_________________________DATE_______________
Page 5 of 23
STATE OF ________ }
COUNTY OF _______ }
________________________________________, of lawful age, being first duly sworn, states that s(he) is the
agent authorized by the bidder to submit the attached bid. Affiant further states that no officer or
employee of the City of Tulsa either directly or indirectly, owns a twenty-five percent (25%) interest in
the bidder's business or such a percentage which constitutes a controlling interest. Affiant further states
that the following officers and/or employees of the City of Tulsa have some direct or indirect interest in
the bidder's business:
Subscribed and sworn to before me this ________day of ______________, 20_____.
NOTARY PUBLIC SIGNATURE
My Commission Expires:
The Interest Affidavit must be completed, signed by an
authorized agent, and notarized.
Page 6 of 23
BIDDER AFFIDAVIT - TITLE 74 O.S. (1974 SUPP.) 85.22-85.25
STATE OF ________________ COUNTY OF ____________________
_____________________, of lawful age, being first duly sworn on oath says
1. (s)he is the duly authorized agent of _________________________________________, the bidder submitting
the competitive bid which is attached to this statement, for the purpose of certifying the facts pertaining to the
existence of collusion among bidders and between bidders and municipal officials or employees, as well as facts
pertaining to the giving or offering of things of value to government personnel in return for special consideration
in the letting of any contract pursuant to the bid to which this statement is attached.
2. (s)he is fully aware of the facts and circumstances surrounding the making of the bid to which this statement
is attached and has been personally and directly involved in the proceedings leading to the submission of
such bid; and
3. neither the bidder nor anyone subject to the bidder's direction or control has been a party;
a. to any collusion among bidders in restraint of freedom of competition by agreement to bid at a fixed
price or to refrain from bidding,
b. to any collusion with any municipal official or employee as to quantity, quality or price in the prospective
contract, or as to any other terms of such prospective contract, nor
c. in any discussions between bidders and any municipal official concerning exchange of money or other
thing of value for special consideration in the letting of a contract.
SIGNATURE OF AUTHORIZED AGENT
Subscribed and sworn to before me this _________day of ______________, 20______.
Signature of Notary Public MY COMMISSION EXPIRES
The Bidder Affidavit must be completed, signed by an
authorized agent, and notarized.
Page 7 of 23
Project No. or Description _______________________________
Full Name of Bidder _______________________________
Legal Identity _______________________________
Telephone No. _______________________________
FAX No. _______________________________
Taxpayer Identification Number _______________________________
Contact Person _______________________________
Phone No. _______________________________
Fax No. _______________________________
E-mail address _____________________________
Webpage Address _____________________________
Page 8 of 23
MUNICIPAL EMPLOYEES' RETIREMENT PLAN ("MERP")
PERFORMANCE EVALUATION AND CONSULTING SERVICES
The Municipal Employees' Retirement Plan Board (herein called "the Board") is
requesting proposals from qualified firms for investment consulting services in
connection with its defined benefit plan. The object of the consulting firm will be to
assist the Board of Trustees, in developing and carrying out investment policies
that are designed to ensure sufficient assets are available to meet current and
future benefit obligations.
You are invited to submit a proposal to the City of Tulsa, Municipal Employees'
Retirement Plan Board, Oklahoma, in accordance with the terms, conditions, and
instructions as set forth in this Request for Proposal. No commissions or
brokerage fees will be paid by the Board in the selection or employment of a
1. The firm and its personnel who will be servicing the account must have a
minimum of five (5) years practical experience in performance evaluation and
consulting. The firm must also have five (5) years practical experience in
preparing RFP's and evaluating custodial and investment manager searches.
2. Each proposal package must be sealed and include fifteen (15) copies of the
completed proposal. All proposals must be received by 5:00 p.m. on August
18, 2004, and should be addressed as follows:
Deputy City Clerk
Attn: Ms. Dana Burks
200 Civic Center
City Hall, Room 109
Tulsa, Oklahoma 74103
3. Late proposals will be returned unopened.
4. Your response must include:
< a copy of your standard contract,
< the latest Financial Report of Your Firm
< the completed Interest Affidavit,
< the completed Bidder Affidavit,
< the completed "MERP" Questionnaire, Attachment #1
< the completed Pricing Page, Attachment #2,
If these items are not included with the returned response, your
proposal will not be accepted for review.
5. All proposals submitted shall be made on behalf of a company licensed to do
business in the State of Oklahoma. An authorized officer or agent of the
organization shall sign all proposals.
6. All terms and conditions within the proposal must remain in effect until at least
January 1, 2005 to allow sufficient review, negotiation and approval time by the
7. In an effort to clarify any issues in this Request for Proposal the MERP will
respond only to questions that are presented in writing via U.S. or electronic
mail or by facsimile. Questions received after July 29, 2004 will not be
answered. These questions will be consolidated into a single Q & A document
and distributed to all proposers. Please submit questions to:
Mailing Address: Patricia Cummings
City of Tulsa
200 Civic Center, Room 802
Tulsa, OK 74103
E-Mail Address firstname.lastname@example.org
8. The agreement will between the MERP Board and the vendor. The term of the
agreement will be January 1, 2005 through December 31, 2005, with four (4)
one-year renewal options.
9. Proposers are required to answer all questions contained within this request for
proposal. Deviations, omissions, or substitutions may invalidate the proposal.
The Board may request clarification of any portion of the proposal. It is each
proposer’s responsibility to verify the proposal before submission, as requests
for amendments to proposals will not be permitted.
10. The proposer agrees to indemnify, defend and save harmless the MERP and
the City of Tulsa, its officers, employees and agents from and against all losses,
costs and expenses, including attorney fees, claims, suits and judgments,
whatsoever, in connection with injury to or death from any person or persons or
loss or damage to property resulting from, any and all operations performed by
the proposer, its officers, employees and agents under any of the terms of any
agreement which may result from acceptance of a proposal.
11. It is understood that the information and any accompanying data in this
proposal are for the purpose of obtaining proposals and do not necessarily
constitute an order for placement for services.
12. All expenses for mailing proposals are to be borne by the proposer. The
proposals will become the property of the Board. Proposers may be asked to
make a presentation before the Board if selected as a finalist and none of the
costs associated with this presentation will be reimbursed by the MERP.
13. The Board reserves the right to make an on-site visit to confirm the proposer’s
responses to this Request for Proposal.
14. All applicable laws and regulations of the United States of America, State of
Oklahoma, and the Charter, Ordinances and Regulations of the City of Tulsa
will apply to any resulting agreement.
The final approval of the selected provider will be subject to the final determination
of the Municipal Employees’ Retirement Plan Board and will be contingent on the
successful completion of a contract between the Board and the successful
proposer. Contracts governed by the laws of the State of Oklahoma are strongly
AWARD OF CONTRACT
1. Authority of the Board. The Board shall have the authority to award
contracts within the purview of this chapter.
2. Contracts shall be awarded to the proposer meeting the specifications. In
addition to price, the following factors shall be considered.
a. the ability, capacity, and skill of the proposer to perform the contract
or provide the service required;
b. whether the proposer can perform the contract or provide the service
promptly or within the time specified, without delay or interference;
c. the character, integrity, reputation, judgement, experience, and
efficiency of the proposer;
d. the quality of performance of previous contracts or services;
e. the previous and existing compliance by the proposer with laws and
ordinances relating to the contract or service;
f. the sufficiency of the financial resources and ability of the proposer to
perform the contract or provide the service;
g. the quality, availability and adaptability of the supplies or contractual
services to the particular use required;
h. the ability of the proposer to provide future maintenance and service
for the use of the subject of the contract; and,
i. the number and scope of conditions attached to the proposal.
3. The Board reserves the right to refuse any and all proposals.
1. The Board is charged with the investment of approximately $310 million in
pension assets. The fund services approximately 2,700 active and 1,189
retired participants. The Fund's authorization is Exhibit "A" TRUST
AGREEMENT FOR THE MUNICIPAL EMPLOYEES' RETIREMENT PLAN
of Title 28 of the Ordinances of the City of Tulsa.
2. The Board is made up of seven (7) members appointed by the Mayor and
meets monthly. The Fund has a staff of 2 which is supervised by the
Manager of Insurance and Retirement Services.
3. The strategic asset allocation as of March 31, 2004 is as follows:
Domestic Fixed Cash Real International
Equity Income Equivalents Estate Equities
33-47% 32-42% 1-3% 6-10% 10-15%
43% 33% 1% 8% 15%
4. The actuarial report as of January 1, 2004 showed that the plan is 102%
funded based on an assumed interest rate of 8%.
5. The Fund currently uses ten investment managers. One manager has both
an international equity and a fixed income fund.
6. The current Performance Evaluation and Consulting Service fee
arrangement is a flat rate of $57,800.00 per year.
7. A copy of the Board's current “Investment Policy Guidelines and Objectives
Statement” is available on request.
SCOPE OF WORK
The Board is seeking the services of an Investment Management Consultant for its
$310 million pension fund to assist it on an on-going basis in the selection,
monitoring and evaluation of its investment managers and programs. Services are
to include, but are not limited to, the following:
1. CONSULTANT'S SERVICES - The continuing and ongoing consulting
services relative to performance evaluation of the investment advisor(s) which
are sought by the Board.
a. Investment Objective and Policy Statements – Review the investment
statement of policy, guidelines and goals for the MERP. This document
details the priorities, investment alternatives and acceptable asset
classes while providing specifications for investment quality, liquidity and
risk. Time horizons and minimum performance objectives should also be
reviewed. The consultant will conduct an annual review of the document
and recommend relevant changes.
b. Asset/Liability Evaluation - Consultant will annually relate the
requirements of the fund (cash flows, contributions and disbursements
based on annual actuarial valuation and assumptions) to the asset
allocation and investment manager selection decisions.
c. Portfolio Construction - Based on the agreed upon investment objectives,
guidelines and policies, provide recommendations on the appropriate
asset mix for the MERP. Some of the factors which will be considered
are cash flow forecasts, estimates of asset class investment returns and
inflation, potential changes in benefit structure and/or actuarial
assumptions, risk and comparison to other similar pension funds.
d. Investment Manager/Custodial Services and other related Searches and
Selections - After expression by the Board of the need to initiate the
search and selection process, Consultant shall develop and recommend
suitable criteria to be utilized in selection of an investment manager. The
criteria will include organizational and investment approach
characteristics plus determination of type of manager needed, i.e. Equity
Specialist, Balanced Manager, etc.. Consultant shall conduct the initial
screening process including individual interviews. Consultant will present
three to six finalists to the Board. Consultant will provide comprehensive
and qualitative evaluation assistance in the final selection process.
e. Training and Development - Consultant will conduct each January a full
day training session for new and current Board members. The training
session will be conducted locally and at the consultant’s expense.
Included will be familiarization with current terms and investment
methodology. Consultant will supply Board members with
supplementary investment informational materials on a selective basis.
Consultant will keep the Board abreast of important economic and
financial developments, to include any financial and/or fiduciary impact to
f. Performance Evaluation and Reporting - In-depth investment monitoring
service which includes quarterly consulting visits focusing on such topics
as defining performance. The consultant shall provide written quarterly
investment reports including but not limited to, an analysis of investment
by manager and asset class/subclass, identifying performance for quarter,
year, three and five year periods, with any attributing factors regarding
investment performance. The consultant shall also provide a narrative
report detailing conclusions and any actions necessary to address any
problems or developments. The reports will compare the investment
performance of the MERP with a universe of public funds of comparable
size with similar investment objectives and restrictions and also to
appropriate national indices. Special reports may be required from time to
time regarding events or developments that could or did materially affect
g. Meetings – The consultant will attend quarterly investment meetings of the
Board and any special meeting as may be requested by the Board and
present required or relevant reports and information. Consultant shall
personally present the quarterly investment reports to the Board.
PERIOD OF CONTRACT
It is vitally important that the Board be able to accurately budget the future costs of
the Retirement Plan. Therefore, the Board is looking for preferably a five (5) year
rate guarantee for Performance Evaluation and Consulting Services.
The Board reserves the right to renew the contract for four (4) additional one-year
periods following the initial contract period, renewable annually on consent of both
parties involved, or to cancel with a thirty (30) day written notice. The initial
contract shall be for the period January 1, 2005 through December 31, 2005.
1. Include as an addendum item a sample of your firm's standard reports. How
soon are quarterly reports available after the end of each quarter?
2. Provide your annual fee schedule for 2005, 2006, 2007, 2008 and 2009 on
the Pricing Page, Attachment #2.
3. All proposals received will be reviewed and evaluated by a committee
appointed by the Board. The committee will recommend to the Board the
proposals which most closely meet the requirements of the RFP and satisfy
the requirements of the MERP. The final evaluation and selection will be
made by the Board. The Board reserves the right to reject all proposals, or
to negotiate separately with competing proposers. Finalists may be asked
to make oral presentations to the Board or the selection committee of the
Board. The consultant servicing the account will need to be present for the
4. The Board is not liable for any cost incurred by proposers prior to execution
of a contract.
MUNICIPAL EMPLOYEES' RETIREMENT PLAN ("MERP")
I. FIRM AND CONSULTANT
1. Provide your Company's address and telephone number and the
name of the primary RFP contact person.
2. Give a brief history of your firm, including year of organization,
current ownership and affiliations. Are ownership changes
anticipated at this time?
3. Provide an organizational chart detailing the organizational
structure as it relates to the parent, any subsidiaries, affiliates
and/or joint ventures.
4. How many years your firm has provided consulting services to
public pension plans?
5. How many public fund clients do you have? What are the total
assets of this client set?
6. Is your firm a registered investment advisor with the SEC under
the Investment Advisor's Act of 1940? If yes, provide a copy of
the latest Form ADV Part II.
7. When was the last time your firm was audited by the SEC?
What was the outcome of that audit?
8. Does your firm have a peer review program for consultants
similar to that of auditors and actuaries? If so, please describe.
9. Please describe the level of coverage for errors and omissions
insurance and any other fiduciary or professional liability
insurance your firm carries.
10.Does your firm manage money or act as a broker dealer? Does
your firm have a brokerage division or subsidiary that executes
trades? Do you receive compensation directly or indirectly?
What is the compensation received by the brokerage division or
subsidiary for clients of the firm for each of the last five years?
How do you prevent conflicts of interest?
11.Detail any financial relationships which exist with affiliated or
other organizations; e.g. brokerage firms, insurance companies,
commercial banks, investment banking firms, money
management firms, transition management firms, mutual fund
companies, and any soft dollar relationships, etc.
12.For the most recent calendar year, provide the percent
breakdown of revenues received from consulting services
versus the different services provided by your firm.
13.Does the firm, its affiliates, or the ultimate parent of the firm
accept soft dollars as a method of payment for services or
referrals? If so, please provide detail. What are the fees? How
do you prevent conflicts of interest?
14.Once a client’s consulting fees are paid in full for a given year,
how are the additional commissions allocated?
15. Has any officer or principal of your organization been involved
in litigation relating to consulting activities? If so, provide a
brief explanation and indicate the current status of the
16.Have there been any complaints filed against your firm with
any State Regulatory Board, the Securities and Exchange
Commission, the National Association of Securities Dealers, or
any other investigating body? If so, provide a brief explanation
and indicate current status.
17.Explain any potential for conflict your firm would have in
servicing the MERP.
18.Describe any and all sources of direct or indirect fees,
commissions or other remuneration for services other than
19.Describe your plans for managing the future growth of your
20. List references for three public pension plans with assets equal
to or over $200 million for whom you have provided primary
consulting services. For each reference listed include name,
address, telephone number and the name of the contact
person. In addition, for each client referenced include the
number of managers being monitored, fund diversification by
asset class and the total number of dollars under management.
The Board may contact the references.
1. List the name and location of primary individual(s) who will
be responsible for our account. Provide brief biographies
including years in the industry and the years with your firm.
Identify and explain the role of backup personnel. Provide a
breakdown of all employees by department and/or function.
How many clients are served by the individual(s) assigned to
2. What policies are in effect to control the workload as it
relates to the number of clients serviced by each manager?
Are there limits on the number of clients assigned to
consultants? If so, please provide the limit.
3. Does your firm act as a fiduciary when serving as a pension
4. Describe the turnover in key professional personnel in each
of the last three years. Indicate the number of people lost
in the Client relationship managers and key technical
5. Submit an organizational chart of your consulting unit.
III. RELATED SERVICES
1. List all the standard services provided in a typical pension
plan consulting and performance evaluation relationship.
List special services that you have provided to meet other
needs of your clients.
2. Briefly summarize your philosophy relating to the
consultant's relationship with Board, staff and money
3. Describe the services of your organization that
distinguishes your firm from other consultants.
4. Indicate the approximate market value of your client's
investments in various asset classes.
5. Describe your method of developing asset/liability
6. How many asset/liability studies did you perform in the
last calendar year? How many asset allocation studies
(no interaction with the liabilities)? Describe the team
that conducts the studies.
7. Describe your portfolio structure analysis.
8. Describe your transaction cost analysis.
9. Describe your investment style analysis.
10. Describe your experience and capabilities in conducting
investment manager searches. How many searches were
for clients with over $200 million in assets? How many
different managers were recommended by you in each of
the last two years in each asset category?
11. Describe your manager search process.
IV. INVESTMENT POLICY
1. Describe your method for developing investment policy
objectives for a diversified pension plan.
2. Comment on your process for analyzing a client's portfolio
structure and for recommending modifications.
3. Describe the manner in which you assist Boards in monitoring
investment policy, strategy and asset mix.
1. Is your manager database proprietary or do you use an outside
2. Are managers assessed a fee to be included in the database?
How do managers participate in the database?
3. Do you sell your investment manager database information?
Do you receive any compensation directly or indirectly? How
do you prevent conflicts of interest?
4. How many managers/advisors are tracked on your database?
How many funds are tracked? How many years of usable data
are in the database? Of the clients listed on the database
please list the number of public fund clients tracked. Please
specify the source of data and if simulated returns are included.
5. Describe the investment manager information you have in your
database. Describe your method of determining the style of
managers. How do you monitor consistency of style? How
often are managers in your database visited by your firm,
reviewed, and the database updated?
6. Describe your approach to due diligence for evaluating money
7. Do you provide a written summary of managers and total
8. What asset categories are tracked in your performance
9. Describe how performance is computed. Describe in detail the
source and the size of the universe? What are the sizes of the
funds which are to be compared? Specify the number of public
funds over $200 million in assets.
10.Describe the flexibility available to customize reports. Does
your system offer your clients on-line access to reports? Are
there any interactive capabilities?
11.Briefly describe how a client would transition to your services.
12.Do you provide transaction cost analysis service? If so,
describe your methodology.
13.Describe the methods and resources used for customizing and
tracking benchmarks used to analyze and evaluate portfolio
14.Does your firm have a website? If so, would the client be able
to access for general investment information and research?
Briefly describe the contents of the website.
1. Provide a list of all reports routinely provided a client. Include
as an addendum item a sample of your firm's standard reports.
2. How soon are quarterly reports available after the end of each
3. Do you normally provide written narrative on managers’
performance, portfolio restructuring, investment guideline
discrepancies, style deviations or other areas?
VII. PERIOD OF CONTRACT AND FEES
It is vitally important that the Board be able to accurately budget
the future costs of the Retirement Plan. Therefore, the Board is
looking for a five year rate guarantee for Performance Evaluation
and Consulting Services.
The Board reserves the right to renew the contract for four (4)
additional one-year periods following the initial contract period,
renewable annually on consent of both parties involved, or to
cancel with a thirty (30) day written notice. The initial contract
shall be for the period January 1, 2005 through December 31,
2005, renewable through December 31, 2009.
1. Describe any and all of the direct or indirect fees,
commissions or other remuneration for services. Note: No
fees will be reimbursed for travel and out-of-pocket
2. Provide your fee schedule on the Pricing Page, Attachment
All proposals received from bidders will be reviewed and evaluated
by a committee appointed by the Board of Trustees. The
committee will recommend to the Board the proposals which most
closely meet the requirements of the RFP and satisfy the
requirements of the MERP. The final evaluation and selection will
be made by the Board of Trustees. The Board reserves the right
to reject all proposals, or to negotiate separately with competing
bidders. Finalists may be asked to make oral presentations to the
Board and/or the selection committee of the Board. The
consultant servicing the account will need to be present for the
MUNICIPAL EMPLOYEES’ RETIREMENT PLAN (MERP)
Performance Evaluation and Consulting Services
Price Sheet Summary
DATE: ____________________________________, 2004
VENDOR NAME: ________________________________
Annual Fee Schedule for:
A. January 1, 2005 _______________
B. January 1, 2006 _______________
C. January 1, 2007 _______________
D. January 1, 2008 _______________
E. January 1, 2009 _______________
TOTAL 5-YEAR FEES: $__________________________