Investment Advisory Services for City Portfolio and Section 115 Trust

The City of Milpitas is seeking investment advisory services for its city investment portfolio and Section 115 retirement trust, with each package evaluated and awarded separately under five-year contracts with two one-year options.

City of Milpitas > Purchasing Division


General
Open
26-262
Sep 24, 2026 12:00 PM
Aug 20, 2026 03:19 PM
5 years base + 2 × 1 year options
Request for Proposal (RFP)
Local
Ask AI about this solicitation
Contact
jcheng@milpitas.gov
455 East Calaveras Boulevard, Milpitas, CA, USA
Submission Instructions
Description

The City of Milpitas is soliciting proposals for two separately awarded investment advisory services packages. Package A covers comprehensive review, analysis, reporting, and portfolio management of the City's investment portfolio in accordance with its adopted investment policy. Package B covers investment and administrative services for an Internal Revenue Code Section 115 retirement trust serving California local government agencies. Proposers may respond to either or both packages, and must submit the applicable package-specific vendor questionnaire and responses. The initial contract term for each package is five years, with two optional one-year extensions. Required main-RFP submissions include proposer contact and package information, acknowledgments, a current W-9, prior-contract-failure disclosure, completed certifications and declarations, insurance and workers' compensation certifications, exceptions or deviations, and three similar-work references. Proposals must be submitted electronically through OpenGov as separate Microsoft Word, Excel, or Adobe PDF files.

Classification Codes
NAICS523940Portfolio Management and Investment Advice
PSCR547STUDY/ACCOUNTING/FINANCIAL MGT
Smart Codes
investment portfolio managementinvestment advisory servicesretirement trust administration
Specifications
Service Only
Timeline
Aug 20, 2026-Release Date
Sep 3, 2026-Question Submission Deadline
Sep 24, 2026-Proposal Submission Deadline
Requirements
Required
  • Commercial General Liability — $1,000,000.00
  • Automobile Liability — $1,000,000.00
  • Professional Liability (Errors and Omissions) — $2,000,000.00
  • Workers' Compensation
  • Employer's Liability — $1,000,000.00
Required
  • Minimum 3 references
  • Within the last 3 years
  • Client point of contact required for each reference
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