Defined Benefit Plan Investment Advisory Consultant Services

Background
The Philadelphia Housing Authority (PHA) is the largest housing agency in Pennsylvania and the fourth largest in the United States. It is responsible for developing, acquiring, leasing, and operating low-rent housing programs. The PHA Pension Board seeks qualified Consultant(s) to provide comprehensive investment consulting services for the Philadelphia Housing Authority Retirement Income Plan (DB Plan), which serves current and former employees of PHA. The DB Plan manages approximately $215 million in assets and is governed by a Pension Board composed of appointed trustees. The goal of this contract is to ensure effective management and growth of the retirement fund through expert investment advice.

Work Details
The selected Consultant(s) will provide independent investment consulting services including:
- Assisting in the selection of the Plan's portfolio of investments.
- Providing advice on portfolio analysis, investment planning, asset allocation, and investment advisor selections.
- Conducting annual reviews of investment policies and recommending changes as necessary.
- Performing asset/liability studies annually in collaboration with the Plan’s actuary.
- Monitoring investment performance against benchmarks and providing quarterly evaluations.
- Conducting due diligence on public and private market managers, ensuring compliance with laws and regulations.
- Attending up to twelve regular monthly meetings of the Board and preparing quarterly reports on investment performance.
- Providing education to Board members on investment issues at least once a year.

Period of Performance
The contract will have a base term of two years with options to extend for three additional one-year terms.

Place of Performance
Services will be performed primarily in Philadelphia, Pennsylvania.

Bidder Requirements
Consultants must demonstrate experience with defined benefit plans comparable in size to the PHA DB Plan. They must also comply with Section 3 requirements aimed at maximizing employment opportunities for low-income residents through their contracts.