Municipal Advisory Services: Section 115 Pension Trust Evaluation, Strategy, and Provider Selection

Description

The City of South San Francisco (the “City”) is seeking proposals from qualified firms to provide municipal advisory services related to the evaluation, design, funding strategy, and establishment of a Section 115 pension trust. On September 9, 2026, the City Council authorized staff to move forward with establishing a Section 115 trust and has directed staff to obtain independent advisory assistance regarding trust structure, reserve sizing, funding methodology, and the comparative risks and potential returns of single-employer and multiple-employer trust options.The selected consultant will assist the City in developing a practical pension reserve strategy, including a recommended target funding range, an objective methodology for initial and ongoing contributions, a framework for use of trust assets to improve budget predictability, and a competitive procurement for a Section 115 trust provider.The City is seeking independent advice free from actual or perceived conflicts of interest. Where any portion of the proposed scope constitutes municipal advisory activity under applicable federal law, the proposing firm, or the team member responsible for that work, must be appropriately registered with the Securities and Exchange Commission (SEC) and Municipal Securities Rulemaking Board (MSRB) and remain in compliance with applicable requirements.