Project Information

Bid Title

Retirement Board Advisory Services-457(b) and HRA Plans

Issuing Agency

Larimer County

Location

Colorado

Published Date

Apr 30, 2026

Closing Date

May 14, 2026

Government Level

State & Local

Status

Closed

Ref. #

Q26-02

Original Source

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Bid Documents

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Project Description

Due Date	Number	Title	Documents	Contact
2026-05-14	Q26-02	Retirement Board Advisory Services-457(b) and HRA Plans	Bid Doc	Karen Schaefer, Purchasing Agent schaefka@co.larimer.co.us 970-498-5936

Attachment Preview

REQUEST FOR QUOTATION (RFQ)

RFQ #Q26-02

Retirement Board Advisory Services-457(b) and HRA Plans

RFQ SUMMARY:

Larimer County intends to enter an agreement with a company that will provide Advisory Services for both

the Larimer County Deferred Compensation Plan – 457(b) and the Larimer County Post-Employment Health

Reimbursement Account (VEBA Trust) Plan.

QUESTION DEADLINE: May 6, 2026 @ 10:00 a.m. (MT)

All questions regarding this solicitation must be emailed to the Contact Person identified below. If you do not

receive a confirmation email of receipt, please call the Contact Person to verify receipt of your questions. No

questions will be accepted after the date and time referenced above. All questions received will be answered

via Addendum only.

DEADLINE FOR SUBMITTALS: May 14, 2026 @ 10:00 a.m. (MT)

We will only be accepting quotations submitted via the Rocky Mountain E-Purchasing System (BidNet, BidNet

Direct) portal, up to the date and time referenced above, at which time they will be recorded, but not publicly

opened on behalf of the Human Resources Department.

BIDNET PORTAL / RFQ OFFICIAL WEBSITE:

To view official RFQ documents and addenda only available on the BidNet portal, use the following link:

https://www.bidnetdirect.com/colorado/larimer-county/

CONTACT PERSON:

Purchasing Agent Karen Schaefer, schaefka@co.larimer.co.us, 970-498-5936

NOTE: Unauthorized contact with a County employee other than the Contact Person listed above or

Purchasing Manager regarding this RFQ may result in disqualification of your Quote.

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1. INTENT

On behalf of Larimer County’s Human Resources Department, the Purchasing Division is requesting

quotations with the intention of contracting with a company that will provide Advisory Services for both the

Larimer County Deferred Compensation Plan – 457(b), and the Larimer County Post-Employment Health

Reimbursement Account (VEBA Trust) Plan.

This RFQ is not for the mandatory 401(a) plan; that service is being procured via “Q26-03 Retirement Board

Advisory Services 401(a) Plan”, published separately from this RFQ.

2. QUALIFICATIONS

Qualifications, at a minimum, include the following items which must be documented explicitly in your quote:

2.1. Firm must have provided and performed continuous retirement plan advisory services for a

minimum of five (5) years.

2.2. Responding firms should have provided retirement plan advisory services for a minimum of three

(3) government clients during the previous five (5) years (2021 - 2025).

2.3. Firm must be independent and licensed to practice in the State of Colorado.

2.4. Firm must be a registered advisor with the SEC (Security and Exchange Commission) under the

Investment Advisor Act of 1940 and provide a copy of ADV Parts I and II form that are currently on file

with the SEC.

3. BACKGROUND

Larimer County (“County”) is a general-purpose local government providing the full range of services governed

by State Statute. The County currently employs approximately 2,000 regular staff and 500 temporary and

seasonal employees, and has a fiscal year that is aligned with the calendar year (January 1 through December

31).

The County’s operations are organized into five (5) areas: Human and Economic Health Services, Community

Justice Alternatives, Support Services, Community Planning Infrastructure & Resources, and County Manager,

as well as eight (8) separately elected functions: Board of County Commissioners, Coroner, Clerk and

Recorder, Assessor, Treasurer, Sheriff, District Attorney, and Surveyor.

Larimer County Deferred Compensation Plan 457(b):

Larimer County has an optional deferred compensation plan administered by the Human Resources

Department. The plan includes 457(b) and 457 Roth contributions, as well as loans. The plan was adopted in

1989. Sheriff’s sworn employees qualify for an enhanced plan, which supplements the 401(a) matches. The

County has no future liability for benefits paid to plan participants.

Larimer County Post-Employment Health Reimbursement Account (HRA):

Upon separation, Larimer County provides employees who have accumulated a sick leave balance of $1,000

or more a one-time payout. Employees with five or more years of service a payout of either 35% (for 5–9

years) or 50% (for 10+ years) of their balance. If the value is less than $2,500, it's paid through payroll,

otherwise it is deposited into a post-employment HRA based on the final pay rate.

The Plan's current advisor is Innovest Portfolio Solutions LCC (Innovest). Innovest is actively engaged through

6/30/2026. Employee enrollment in the 401(a) Retirement plan is mandatory. Enrollment in the HRA plan is

conducted only after a qualifying employee has separated from the County. Employee enrollment in the 457(b)

plan is optional.

Current Retirement Program Plan’s 401(a) and 457(b) are administrated by TIAA. Current Post-

Employment Health Reimbursement Account (VEBA Trust) is administered by TASC.

4. SCOPE OF WORK

The following Scope of Work should be considered the minimum that the Consultant will perform or provide.

Advisory services for the following plans and levels of service:

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• The 457(b) Plan at 3(38) level of service

• The Post-Employment HRA (VEBA Trust) Plan at 3(21) level of service

4.1. Attend in-person bi-monthly investment meetings with comprehensive review and recommendations

for prudent changes to maximize performance. (Estimated at four (4) two-hour meetings per year).

4.2. Provide annual comprehensive plan review, including but not limited to; plan documents and fee

structure (firm shall present with 4th quarter results).

4.3. Advise 457(b) Committee/HRA Board on contractual agreement with plan vendor.

4.4. Will perform due diligence on investment review and reporting.

4.5. Advise in the selection and monitoring of investment options under Plans.

4.6. Monitor and negotiating fee structure of Plan platform providers.

4.7. Assistance in refining and monitoring of Investment Policy Statements (IPS).

4.8. Advise, implement, and monitor employee education strategy.

4.9. Provide oversight of Plan services to participants.

4.10. Provide oversight of Plan compliance and reporting.

4.11. Provide annual Fiduciary Training for the 457(b) Committee/HRA Board.

4.12. Review documents and minutes of monthly meetings for fiduciary compliance.

4.13. Participate in monthly meeting either in-person or by conference call, and compile supporting

documentation.

4.14. Provide guidance in determining who will prepare plan financial statements.

4.15. Provide guidance in determining who will perform plan audit.

4.16. Review and monitor Revenue Credit for compliance and accuracy.

4.17. Complete annual administrative benchmarking review.

4.18. In addition, the firm shall give Larimer County written notice of any professional relationships

entered into during the period of this agreement.

4.19. Review and report on the Plan Vendor’s cyber security protocols and insurance coverage annually.

4.20. Provide proactive legislative updates and impact analysis on new federal or state regulations that

may require plan document amendments or operational changes.

5. AWARD AND CONTRACT

This solicitation will be awarded to the vendor with the most responsive, responsible, reasonable quotation

meeting all specifications and deemed the best fit and most advantageous to Larimer County. To assist in the

decision for award: interviews may be held, background checks may be performed, references may be

contacted, and other inquiries may be taken to determine the abilities of the vendor.

A formal agreement will be executed with the award vendor. A Sample of Larimer County’s Agreement is

included with this Request for Quotation as Attachment C - Agreement. State any exceptions or requested

additions to Attachment C and submit with your proposal; these requests may not be accepted after the

Proposal has closed. The County makes no guarantee of any changes or concessions but will review and may

consider requests submitted.

The term of the agreement will be for one (1) year from the date the agreement is executed. The County, at its

sole option, may offer to extend this Contract for up to four (4) additional one-year terms. The extension option

may be exercised providing satisfactory service is given, and must be mutually agreed upon in writing, by and

between the County and the Award Vendor.

Upon Notice of Award, the Award Vendor will be required to submit a valid Certificate of Insurance (COI) that

meets, at a minimum, the Insurance Requirements published in the solicitation. This valid COI must be

received by Larimer County within 10 calendar days of the Notice of Award and must include Larimer County

listed as Additional Insured and Certificate Holder. Work may only begin after the COI has been approved by

Risk Management.

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If it should become necessary for Larimer County 457(b) Committee/HRA Board to request the advisor to render

additional related services to either supplement the services requested in this RFQ or to perform additional work

as a result of the specific recommendations included in any report issued on this engagement, then such

additional work shall be performed only if set forth in an addendum to the contract/agreement between the

Larimer County 457 Committee/HRA Board and the firm. Any such additional work agreed to between the

Larimer County 457 Committee/HRA Board and the firm shall be performed at no more than the rates as

presented in your quote, Attachment B - Pricing.

6. INSURANCE REQUIREMENTS

BEFORE submitting your company quote, confirm with your insurance carrier that your company can meet the

insurance requirements published in the solicitation. Your company insurance coverages should be correctly

noted in the most current EOC. NOTE: All Larimer County contracts require that the Award Vendor possess

appropriate insurance at all times during the contract; these coverages are purchased at the company's

expense. The County’s insurance requirements may necessitate a company adding or increasing

coverage/limits, and those changes may impact pricing for the proposed project. These costs must be included

in your pricing at the time of submission and will not be permitted to be added later.

Prior to commencement of any work, contractor/vendor shall provide a Certificate of Insurance issued to

Larimer County, 200 West Oak St., Suite 4000, Fort Collins, Colorado 80521 as the Certificate Holder. The

insurance required herein shall be procured and maintained in full force and effect for the duration of the

Contract or Agreement and shall be written for not less than the following amounts, or greater if required by

law. Such certificate shall be delivered to InsuranceCert@larimer.org.

I. Workers' Compensation and Employers' Liability

A. Workers’ Compensation:

Statutory

B. Employer's Liability:

$100,000 Each Accident

$500,000 Disease-Policy Limit

$100,000 Disease-Each Employee

C. Waiver of Subrogation in favor of Larimer County

D. If the contractor/vendor is not required to carry Workers’ Compensation coverage per Colorado

Workers’ Compensation Act 8-40-202(2)(b) a signed Workers’ Compensation waiver must be

provided.

II. General Liability on an Occurrence Form with minimum limits as follows:

A. Per Occurrence Limit

$1,000,000

B. General Aggregate Limit

$2,000,000

C. Contractor/Vendor agrees that the insurance afforded the County is primary non-contributory.

III. Automobile Liability Insurance including coverage for all owned, non-owned, & hired autos. Limits to

be as follows:

A. Bodily Injury & Property Damage Combined Single Limit

$1,000,000

B. Lower limits may be accepted if automobiles are not used for transport in relation to

goods/service provided as outlined in agreement (i.e. only commuting to job site).

IV. Professional Liability/Errors & Omissions

$1,000,000

V. Network Security and Privacy Liability (Cyber Liability)

$1,000,000

VI. Minimum required limits set forth herein may be met by utilizing a combination of excess/umbrella

policies in conjunction with primary insurance policies if necessary.

VII. General Liability and Automobile Liability insurance policies shall include Larimer County and

its elected and appointed officials and employees as additional insureds as their interests may

appear.

VIII. The County reserves the right to reject any insurer it deems not financially acceptable by insurance

industry standards. Insurance Companies shall be licensed to do business in the State of Colorado and

shall have an AM Best rating of not less than A- VII.

IX. Notice of Cancellation: Each insurance policy required by the insurance provision of this Contract or

Agreement shall provide the required coverage and shall not be suspended, voided, or

canceled. Should any of the required policies be canceled before the expiration date, notice shall be

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delivered to Larimer County, 200 West Oak St. Suite 4000, Fort Collins, CO 80521 or

InsuranceCert@larimer.org.

X. Subcontractors: If subcontractors are used by contractor/vendor in the performance of contracted

services, all subcontractors are required to carry insurance coverage consistent with the limits as listed

in this document and the subcontractor must include Larimer County an additional insured as described

in section VII.

ANY DEVIATIONS FROM THE STANDARDS GIVEN ABOVE MUST BE APPROVED BY THE

LARIMER COUNTY RISK MANAGEMENT DIVISION.

7. EVALUATION CRITERIA

Quote submittals will be evaluated and scored by a committee selected by the 457(b) committee and HRA

board members. The criteria below will be the basis for review of the written quotes. The rating scale shall be

for available points, receiving the maximum points available per criteria would be considered an outstanding

rating.

CRITERIA

Expertise, and

Experience

Firm’s

Qualifications

Price

STANDARD

• Does the firm meet or exceed the requirements outlined in

the RFQ, including the firm's performance and experience

with comparable government engagements?

• Does the firm’s competence and capacity to perform

advisory services for Larimer County meet or exceed the

needs of the County?

• Does the proposal demonstrate the firm’s commitment to

dedicate professional personnel to this engagement?

• Will the firm's management support personnel be available

for technical consultation as needed?

• Does the proposal submitted indicate adequacy of

analytical procedures and internal control review

methodology?

• Is the firm independent and licensed to practice in the

State of Colorado?

• Has the firm performed continuous services for a minimum

of five (5) years?

• Does the firm’s qualifications meet or exceed the County’s

needs?

• Is the firm a registered advisor with the SEC under the

Investment Advisor Act of 1940 and did they provide a

copy of ADV Parts I and II form that are currently on file

with the SEC?

• Is the firm’s pricing comprehensive, reasonable and

advantageous to Larimer County?

POINTS

AVAILABLE

40

35

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8. GENERAL INSTRUCTIONS TO RESPONDENTS

8.1 Artificial Intelligence (AI) Disclosure:

Portions of this solicitation may have been prepared or modified with the assistance of Artificial Intelligence (AI)

technologies. All such content has been reviewed, verified, and approved for accuracy and compliance by the

Purchasing Agent prior to issuance.

8.2 Cooperative Purchasing:

Other governmental entities may piggyback on the award of this solicitation, assuming the award vendor is

amenable, and should contact Larimer County Purchasing for any necessary procurement documents. The

entity will deal directly with the award vendor concerning the placement of Purchase Orders, freight charges,

contracting and disputes, invoicing, and payment. Larimer County will not be held liable or responsible for any

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Commodity Codes

• NAICS 541611Administrative Management and General Management Consulting Services

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