Project Information

Bid Title

RFP: Defined Contribution Investment-Fiduciary Consultant

Issuing Agency

County of San Mateo

Location

California

Published Date

Aug 3, 2026

Closing Date

Aug 21, 2026

Government Level

State & Local

Status

Closed

Original Source

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Bid Documents

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Project Description

Project ID:

Title: RFP: Defined Contribution Investment-Fiduciary Consultant

Addenda: 0

Release Date: 8/3/2026

Due Date: 8/21/2026

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RFP: Defined Contribution Investment-Fiduciary Consultant

Request for Proposals

Human Resources Department

94656

Project ID: 2026-RFP-00604

Release Date: Monday, August 3, 2026

· Due Date: Friday, August 21, 2026 5:00pm

Posted Monday, August 3, 2026 9:21am

All dates & times in Pacific Time

Draft Response No Bid17 days, 22 hours, 37 minutes

Post Information

Posted At:Mon, Aug 3, 2026 9:21 AM
Sealed Bid Process:Yes (Bids Sealed / Pricing Sealed)
Private Bid:No

Overview

Summary

The County of San Mateo Human Resources Department is conducting a request for proposals (RFP) for an investment and fiduciary consultant for its defined contribution retirement plans.

The County of San Mateo, immediately south of the City and County of San Francisco, serves a diverse population of 750,000 residents. The County government employs 8,400 full- and part-time employees.

Background

The County sponsors a voluntary defined contribution (DC) retirement program alongside its mandatory defined benefit (DB) retirement plan. The DC assets total almost $1 billion as of 3/31/2026 and consists of five plans:

• §457 Voluntary Plan, $929 million
• §401a Mandatory Plan, $23 million
• §457 OBRA Plan, $17 million
• §401a OBRA Plan (closed), $8 million
• §401a Money Purchase Plan, $5 million
• TOTAL, $982 million

The number of participants in each plan are as follows. Note that some participants are eligible and are participating in multiple plans.

• §457 Voluntary Plan, 9,796
• §401a Mandatory Plan, 1,257
• §457 OBRA Plan, 2,040
• §401a OBRA Plan (closed), 2,165
• §401a Money Purchase Plan, 49
• TOTAL, 15,307

The County also offers a retiree health reimbursement arrangement (RHRA) for certain newer employees. That RHRA has assets of $5.5 million and 1,266 participants. The investment consultant assists the County in monitoring and, as needed, updating the RHRA investment options to best coincide with the defined contribution program's investment options.

Timeline

RFP Released:

August 3, 2026

Deadline for Questions and Comments:

August 7, 2026, 5:00pm

Proposal Due Date and Time:

August 21, 2026, 5:00pm

Interviews (tentative):

September 16, 2026

Anticipated Contract Award Date:

December 1, 2026

Commodity Codes

• NAICS 541611Administrative Management and General Management Consulting Services

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