DATE: December 9, 2025
TO: Board of Supervisors
SUBMITTED BY: Hollis Magill, Director of Human Resources
SUBJECT: Agreement for consulting services to the County of Fresno 457(b) Deferred Compensation Plan and the County of Fresno 401(a) Defined Contribution Plan
RECOMMENDED ACTION(S):
TITLE
Approve and authorize the Chairman to execute an Agreement with Northwest Capital Management, Inc., to provide consulting services to the County of Fresno 457(b) Deferred Compensation Plan and the County of Fresno 401(a) Defined Contribution Plan, effective January 1, 2026, not to exceed five consecutive years, total not to exceed $285,000.
REPORT
There is no Net County Cost associated with the recommended action. Approval of the recommended action will allow Northwest Capital Management, Inc. ("Northwest Capital") to continue providing consulting services to the County of Fresno 457(b) Deferred Compensation Plan and the County of Fresno 401(a) Defined Contribution Plan (collectively, the "Plans") at a cost of $50,000 per year. Northwest Capital will also provide assistance with a Request for Proposal (RFP) process for the Record-keeper to the Plans (the current Record-keeper is Nationwide Retirement Solutions, pursuant to Agreement No. 24-670), upon the County's request, at a one-time fee of $25,000. The County may also request Northwest Capital to attend in-person Deferred Compensation Management Council (the "Council") meetings, in addition to the four (4) quarterly meetings per calendar year, not to exceed a total of $10,000 during the five-year term.
The Council is recommending a five-year agreement instead of a three-year agreement with two (2) one-year renewals, as the fee structure for the five-year term will result in a savings of $25,000 to participants in the Plans. This item is countywide.
ALTERNATIVE ACTION(S):
Your Board may direct staff to consider other proposals received during the RFP process. In addition, your Board may approve a three (3) year a...
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