MPERS’ Bidding History
MPERS maintains a number of consultant/vendor relationships that are essential to carrying out the responsibilities of the System. Some of those key relationships are listed below along with the previous two times a bid process for those services was completed. Many of these relationships require a review every few years while others are reviewed sporadically due to the transition associated with the service. All relationships require monitoring and oversight to be sure our fiduciary duties to the System are being carried out responsibly.
Please select the service below to learn more.
Actuary
| Current Consultant/Provider |
| GRS |
| Last Bid |
| 2022 |
| 2nd to Last Bid |
| 2015 |
| Comments |
| Typically bid at least every five years. One year extension was applied to current contract to separate timing from audit bid process. |
Compensation Consultant
| Current Consultant/Provider |
| CBIZ |
| Last Bid |
| 2018 |
| 2nd to Last Bid |
| 2014 |
| Comments |
| Historically bid every three years and now every five years in concert with Board approved compensation reviews. |
Custodian
| Current Consultant/Provider |
| Northern Trust |
| Last Bid |
| 2016 |
| 2nd to Last Bid |
| 2003 |
| Comments |
| This commodity type service is subject to bid at any time. As long as costs are competitive and service reasonable, a bid or change is not optimal given the massive transition efforts associated with a change. |
Audit
| Current Consultant/Provider |
| Williams-Keepers |
| Last Bid |
| 2020 |
| 2nd to Last Bid |
| 2015 |
| Comments |
| Typically bid every five years. |
Disability
| Current Consultant/Provider |
| The Standard |
| Last Bid |
| 2003 |
| 2nd to Last Bid |
| NA |
| Comments |
| First and only time this contract was bid occurred when the Board moved from the historical self-insured program to the insured platform. Another relationship that is not normally bid unless cost and/or service issues are apparent. MPERS’ risk consultant reviews this contract annually (June) to assess cost and the benefit design. Important to know the contribution rate for this benefit has been lowered over the course of experience. |
Investment Consultant
| Current Consultant/Provider |
| NEPC |
| Last Bid |
| 2021 |
| 2nd to Last Bid |
| 2011 |
| Comments |
| NEPC continues to retain this contract. This relationship is often longstanding given the importance of long-term perspective for investment policy. |
Internet Service Provider
| Current Consultant/Provider |
| CenturyLink |
| Last Bid |
| 2022 |
| 2nd to Last Bid |
| 2019 |
| Comments |
| Bids are solicited to make sure costs are competitive and services are good. |
IT Advisory
| Current Consultant/Provider |
| Midwest Computech |
| Last Bid |
| 2019 |
| 2nd to Last Bid |
| 2013 |
| Comments |
| Current advisor is Midwest Computech. Past advisor was Huber and Associates. This is an important relationship given the lack of dedicated IT staff on MPERS’ payroll. Relationship is formally reviewed as deemed necessary. |
Operational Bank
| Current Consultant/Provider |
| Central Bank |
| Last Bid |
| 2008 |
| 2nd to Last Bid |
| 1995 |
| Comments |
| This commodity type service is subject to bid at any time. As long as costs are competitive and service reasonable, a bid or change is not optimal given the massive transition efforts associated with a change. Historically, there have not been other local banks capable of handling this relationship. |
Outside Counsel
| Current Consultant/Provider |
| Thompson Coburn |
| Last Bid |
| 2014 |
| 2nd to Last Bid |
| 2008 |
| Comments |
| General counsel cannot be an expert on every legal topic. Subsequently, outside counsel is used for a variety of circumstances. Litigation or potential litigation is an example. |
Risk/Insurance
| Current Consultant/Provider |
| Charlesworth Consulting |
| Last Bid |
| 2021 |
| 2nd to Last Bid |
| 2003 |
| Comments |
| This service is not bid often due to the niche type service provided and the competitiveness of the cost associated with it. |
Telephone
| Current Consultant/Provider |
| CenturyLink |
| Last Bid |
| 2022 |
| 2nd to Last Bid |
| 2019 |
| Comments |
| Bids are solicited to make sure costs are competitive and services are good. |