SS-26-00255 - 457b Consulting Services

Hillsborough County intends to recommend the award of a sole source procurement to OneDigital Investment Advisors LLC for consulting services consisting of comprehensive retirement plan advisory and fiduciary support services to assist Hillsborough County in the oversight, management, and optimization of its deferred compensation plans for 5 years at an estimated cost of $237,500.00. OneDigital Investment Advisors LLC offers a unique combination of investment advisory services, fiduciary support, participant financial education, and proprietary engagement tools delivered through a single, coordinated service model. These services are used to ensure the County’s retirement plans are prudently managed, compliant with applicable laws and fiduciary standards, and structured to support employees in achieving long-term retirement readiness. Key features and capabilities include investment advisory and management services, development and maintenance of an Investment Policy Statement (IPS), ongoing performance monitoring and reporting of plan investments, benchmarking and fee analysis, and guidance on plan design and governance. Additionally, OneDigital Investment Advisors LLC provides fiduciary education to County staff and plan committees, as well as participant-focused services such as financial education, enrollment support, and retirement readiness counseling through its proprietary Financial Education and Guidance FE&G) program. The service is compatible with the County’s existing multi-recordkeeper environment and supports large-scale plans with diverse participant demographics. It also offers the capability to act in a discretionary or non-discretionary fiduciary role, enhancing operational efficiency and reducing administrative burden. This procurement is being made in accordance with Section 3-205(2)(h) of the County’s Procurement Policy as OneDigital Investment Advisors LLC, is a professional service that is unique, requires special skills or training, and securing competition is neither practical nor practicable, including insurance consultants. The County reserves the right to extend the time period further, adjust the scope of services in response to changing conditions and updated requirements, and increase the resulting award accordingly.This notice of intent is not a request for competitive proposals/bids.Contractors who are able and interested in providing all the identified services must submit clear and convincing information to support a challenge to the intended award. Challenges to this procurement must be received no later than the specified Close Date of this Sole Source notice and must be submitted using the “submission” section in EUNA Procurement for this particular procurement. Absent any challenges, an award will likely be made after the Close Date.The County will review properly submitted challenges (responses) to determine whether bona fide competition exists. Any such responses received by the deadline will be evaluated solely for the purpose of determining whether to conduct this procurement as a competitive solicitation.

Commodity Codes

• Commodity Codes: NIGP 918 Consulting Services NIGP 946 Financial Services NIGP 953 Insurance And Insurance Services, (All Types) NIGP 91849 Finance and Economics Consulting NIGP 94656 Investment Management Services

Events & Timeline

Requested Information

Note: Template files for the items below (BidTables, Questionnaires) are available in the Attachments section of this opportunity.

Attachments

• 457b_Agreement.pdf
• 457b_Sole_Source_Letter.pdf