Title
Contract Award Recommendation and Payment Authority for Investment Consulting Services for 401(A)/457 Plans and Post Employment Health Plans (PEHP) - Fiduciary Consulting Group (Ordinance S-52415) - Citywide
Description
This report requests City Council approval in payment authority for a new contract with Morgan Stanley Institutional Investment Advisors, LLC, (dba Fiduciary Consulting Group), a wholly owned subsidiary of Morgan Stanley Capital Management, LLC ("Fiduciary Consulting Group").
Report
Summary
Fiduciary Consulting Group has been awarded a contract to provide consulting services to the 401(A)/457 ("Deferred Compensation Plan", "DCP") and PEHP Plans following a recent competitive procurement. The total contract value is not to exceed $600,000. Funds to be paid from the Deferred Compensation Program Trust. No General Funds are used for this request. The Boards approved the agreement on November 13, 2025.
Contract Term
The contract term is for five years to be entered on or about December 1, 2025, through December 31, 2030.
Financial Impact
The Agreement will have a cost of $120,000 annually and will not exceed $600,000 over the life of the contract. The consulting service fees are paid from the City of Phoenix Employees' Deferred Compensation Program Trust. The Trust's funding source is retained revenue from the DCP investment earnings and are restricted.
Department
Responsible Department
This item is submitted by Deputy City Manager David Mathews and the Retirement Office.