Retirement board approves three-year contract for trading-cost and FX reporting vendor

The Police and Fire Retirement Board voted to authorize staff to hire ACA to provide trading-cost analysis (TCA) and foreign-exchange (FX) reporting under a three-year contract that would run through June 30, 2028.

Board Chief Investment Officer John opened the investment portion of the meeting with portfolio performance figures and then turned to staff recommendations on vendor selection. Christina, a member of investment staff, told the board that staff issued a request for proposals after the prior provider’s contract expired on June 30 and that, based on interviews, reference calls and internal scoring, "staff unanimously chose ACA as a top candidate for TCA and FX reporting." Christina said the bundled ACA service would realize “significant cost savings.”

Staff presented the three‑year price for the pension and health plans as $56,002.50, which Christina said is less than half of the current vendor cost. The board then voted to approve the recommendation and to authorize the CEO to negotiate contract terms.

The action authorizes staff to execute a three‑year contract for trading-cost and FX reporting, with the contract term described in staff materials as expiring 06/30/2028. The board did not adopt detailed contract language during the meeting; staff said final terms will be negotiated and returned under existing procurement procedures.

Board members asked no substantive technical questions on the proposal during the meeting. John and Christina said the procurement followed an RFP and scoring process that included reference checks and finalist interviews.

The board’s vote was recorded as a roll call and the motion carried.