Investment Management and Fiduciary Services

Request for Proposals
For
Investment Management and Fiduciary Services

The City of Lake Oswego is seeking proposals from qualified firms to provide investment management and fiduciary services. The City has one 457 Deferred Compensation program that they provide to all regular status employees. Total fund assets are $60,484,450, and the current fund lineup is listed in Exhibit C. The City’s current Investment Management consultant provides all the services as outline in the Request for Proposal (RFP). The City is requesting proposals at this time as the contract with our current provider is set to expire on January 31, 2026. The current consultant is Northwest Capital Management, Inc., and they are eligible to respond to the RFP.

Deadline for Receipt of Proposal:  Thursday, December 18, 2025 at 4:00 p.m.
                                                       Late proposals will not be accepted.

Electronic Submission of Proposal: Submit quote in PDF format to mphelan@lakeoswego.city
                                                        Attn: Megan Phelan, Assistant City Manage                                                                                                                                              Phone: 503-635-0281

     Please note - the submitter is urged to submit the electronic proposal at least 2 business hours prior to the deadline for submission. If a        “reply confirmation” of receipt of quotation is not received by the submitter 1 business hour prior to the deadline for submission, it is             the submitter’s responsibility to telephone the person named above to assure receipt of quotation.

RFP Addenda: The City may issue addenda to this RFP until up to 2 business days prior to the deadline for submission of proposals. Proposers should confirm that they have provided their electronic email contact information at the time of obtaining this Request for Proposal OR check the following web page for any addenda less than 2 business days prior to the submission deadline: http://www.ci.oswego.or.us/bids

Scope of Work: Scope of work is outlined in Exhibit A.

Duration of Services
The term of the awarded Contract will be for five (5) years.

Submittal Requirements
Proposals should be prepared simply, providing a straightforward, concise delineation of the approach and capabilities necessary to satisfy the requirements of the RFP. We ask that proposers provide complete responses to the Proposal Questions in the order provided in Attachment A. We request that proposals be submitted on double sided typed pages, excluding cover, evidence of insurance, and other attachments.

Submission of a proposal will signify the Proposer’s agreement that its proposal and the content thereof are valid for 180 days following the submission deadline unless otherwise extended in writing by both parties.

Ranking of Proposals / Determination of Successful Proposer: Proposals will be reviewed and ranked by the Project Manager and other selected persons, based on the following evaluation criteria:
• Price – 30%
•  Experience of Proposer: in type of project – 20%
•  Experience of Proposer: with governments and specifically local municipalities – 20%
•  Proposal: straightforward, concise responses to requirements of the RFP – 10%
• References –10%
•  COBID – 10%

Subject to the City’s right to cancel this Request for Proposals and to reject any and all proposals, and to the procedure for Objections to Proposed Contract, City will award the contract to the responsible proposer whose proposal the City determines is the most advantageous to the City based on the evaluation process and evaluation factors described in this Request for Proposals, applicable preferences described in ORS 279A.120 and 279A.125 and, the outcome of any negotiations authorized by this Request for Proposals.

Objections to Proposed Contract: The form of Contract that the successful Contractor will be expected to execute if awarded the contract is included as Attachment B. The Proposer should include in the proposal any objections to the form or terms of the Contract. Any objections shall be considered after a determination of the apparent highest ranked responsive, responsible bidder is made, and the terms shall be subject to negotiation. The Project Manager, in consultation with the City Attorney, shall determine if any proposed modifications to the form of Contract are acceptable to the City and that they do not present material risk to the City or increase the City’s costs. If the final negotiated terms are not acceptable to the apparent highest ranked responsive, responsible bidder, that bidder shall be declared not to be responsive, and the next apparent highest ranked responsive, responsible bidder’s proposal and objections to form of Contract, if any, shall be considered, and so forth in order, until a responsive, responsible bidder agreeable to execution of a form of Contract acceptable to the City and to the bidder is ascertained.

Public Contract Rules: Except as modified by the terms of this Request for Proposal, the terms and procedures of the Lake Oswego Public Contract Rules (LOPCRs) shall apply. A copy of the LOPCR may be obtained by contacting the Project Manager or at the Lake Oswego City Attorney’s Office website, www.ci.oswego.or.us/cityattorney, under the Key Documents and Reports tab.

Notice of Intent to Award / Protest: Notice of Intent to Award the contract shall be issued to each Proposer as provided in LOPCR/OAR 137-047-0610. Any protest of the intended award of contract must be submitted in accordance with LOPCR/OAR 137-047-0740.

Ownership / Public Records / Mark Information Not Subject to Disclosure
Material submitted by the Proposer shall become the property of the City unless otherwise specified.

Proposal materials submitted are “public records” pursuant to ORS 192.311 et seq., and are subject to public disclosure following Notice of Intent to Award, award of contract, or rejection of all Proposals, whichever occurs first, except to the extent the material is exempt from disclosure by law.

Information deemed not subject to public disclosure under ORS 192.311 et seq. or other applicable law should be segregated on separate page(s) and each page marked with the basis for non-disclosure. If a request is made for disclosure of the material on the pages marked for non-disclosure, City shall notify the Proposer and provide an opportunity to provide additional information regarding the basis of the exemption from disclosure, subject to the time limitations imposed upon the City for review and response to requests for disclosure.

Cancellation / Rejection of Proposals. The City may cancel this Request for Proposals or reject any or all proposals, in accordance with ORS 279B.100.