Monthly Archives: August 2014

City of Baltimore Takes a Bold Step Toward Pension Reform

An article Gregg wrote on exemplary pension reform efforts at the City of Baltimore was published Friday,  August 8, 2014 by Plan Sponsor.  Standard & Poor’s recently upgraded City of Baltimore Bonds to AA, citing improved financial conditions for the City.

You may view the article by pasting this link into your web browser:

Sample Annotated Request for Proposal (RFP) Available

Plan sponsors who follow “best practice” guidelines conduct formal bids on a regular basis to ensure that their plan participants have the most attractive program available.  A bid process is normally referred to as a Request for Proposals (RFP).  A prudent plan sponsor will generally issue an RFP at least every five years.  Some state or local ordinances may require formal bids on a more frequent basis.

One of the most common requests we receive is for some guidance on what should be in an RFP, and how to score the proposals you receive.  One of the best ways to develop your own RFP and scoring methodology is to request samples from other public plan sponsors with plans of similar size and characteristics to yours.  Or, if you hire a consultant to assist you with a public bid process, they will likely have a RFP and scoring format that they use.  You should evaluate several RFP’s and scoring mechanisms before concluding upon which is best for you.  It is generally advisable that your criteria and scoring be consistent for various bids, if possible.  This makes it easier to score and evaluate proposals on a consistent and unbiased basis.

A sample Annotated RFP is available from our firm, which contains a listing of the most commonly asked questions in an RFP.  There is also a sample scoring and evaluation criteria, with scoring ranges that are most commonly used by plan sponsors for public employee defined contribution plans.  Both documents are available to you free of charge.  Please simply send your mailing or email address to and we will be pleased to send you the documents in hard copy or electronic format.

The sample Annotated RFP and Scoring Suggestions are for information and educational purposes only, and are not legal or tax advice.