Pension and OPEB Investment Management Services

Delta County, Michigan, is seeking an investment management firm, registered investment advisor, or institutional trust company to structure and manage a County-controlled trust and investment portfolio for unfunded defined-benefit pension and OPEB liabilities under a three-year contract.

Delta County


General
Open
Sep 14, 2026 12:00 PM
3 years
Request for Proposal (RFP)
Local
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Original Solicitation Links
Contact
edesalvo@deltacountymi.gov
+19067895100
310 Ludington Street, Escanaba, MI, USA
Submission Instructions
Email

or

Mail
Delta County, Attn: Administration, 310 Ludington Street, Escanaba, MI 49829
Description

Delta County is soliciting proposals from qualified investment management firms, registered investment advisors, or institutional trust companies to establish and manage an investment portfolio addressing the County’s unfunded defined-benefit pension and other post-employment benefit liabilities. The selected firm must assist with establishing an IRS Section 115 trust or appropriate statutory trust, develop a customized liability-driven investment strategy, and comply with Michigan Public Act 20 of 1943 and Public Act 314 of 1965. The engagement requires a non-discretionary or guided advisory model in which the County retains authority over funding, asset allocation, portfolio changes, transactions, and disbursements. Services include access to open-architecture institutional investments, independent custody and liquidity support, actuarial and accounting coordination, monthly and quarterly reporting, annual fiduciary reviews, and attendance at up to four County Board meetings annually. Proposers must demonstrate at least five years of relevant public-sector, defined-benefit pension, or OPEB investment experience and provide a transparent, fully unbundled fee proposal, at least three public-sector references, SEC Form ADV materials, and details regarding E&O and cyber liability/fidelity bond coverage.

Classification Codes
NAICS523940Portfolio Management and Investment Advice
PSCR799Other Management Support Services
Smart Codes
investment management servicespension portfolio managementtrust administration services
Specifications
Service Only
Timeline
Sep 14, 2026-Proposal Due Date
Sep 14, 2026-Bid Opening
Sep 15, 2026-Expected County Board Award Action
Requirements
Required
  • Errors & Omissions
  • Cyber Liability/Fidelity Bond
Required
  • Minimum 3 references
Documents
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