Retirement Plans Fiduciary Oversight

The City of Portland, Maine is seeking a qualified firm to provide fiduciary oversight services for its municipal retirement plans. The contractor will monitor plan administration, ensure compliance with fiduciary standards and applicable regulations, and issue recommendations or corrective actions as needed. The work likely includes periodic reviews, reporting to governing bodies, and possibly developing policies to strengthen fiduciary governance. • Monitor and review retirement plan operations for compliance with ERISA and state fiduciary standards. • Prepare and deliver reports and recommendations to the City’s governing officials. • Provide ongoing advisory support to address any identified deficiencies or improvement opportunities. • May be required to develop or update fiduciary policies and procedures for the City’s retirement programs. • Contract duration and compensation details are not disclosed in the excerpt; interested firms must obtain the full RFP packet for specifics.