Other Post-Employment Benefit Plan Trust Advisory Services
EFC requests proposals from qualified professional firms to provide comprehensive advisory, administrative, and/or investment management services for the establishment and ongoing management of an Other Post-Employment Benefit Section 115 Trust.
Issuance of RFP: August 13, 2026
Deadline for RFP Questions: August 20, 2026
Responses to Questions: August 24, 2026
Proposal Due Date: September 17, 2026, 2 p.m.
Anticipated Contract Start Date: October, 2026
Questions and Answers
Posted August 24, 2026
Question: Why is EFC looking to establish the OPEB Trust?
Answer: The OPEB Trust is intended to pre-fund and secure post-employment health benefits for eligible EFC retirees. Secondarily, it is intended to achieve long-term, risk-adjusted investment returns on Trust assets, to offset and reduce EFC’s future operating expenditures for retiree healthcare.
Question: What type of program(s) did EFC have for employee retirement investments prior to looking to establish the OPEB Trust? What firm(s) currently oversee that program’s investments?
Answer: EFC currently funds retiree health benefits on a “pay-as-you-go" basis. There is no existing external investment program or investment management firm currently overseeing assets dedicated to EFC’s OPEB liability.
Question: What is the estimated size of the trust that the selected firm(s) will manage?
Answer: EFC’s total reported OPEB liability was approximately$35 million as of the most recent actuarial valuation.
Participation Goals & Interested Firms
Bidders are encouraged to include subcontractors as part of their response to this Request for Proposals. EFC has set goals of 30% Minority- and Women-Owned Business Enterprise participation, and 6% for Service Disabled Veteran-Owned Businesses. Searchable databases of New York State-certified firms are available at the link below. Clicking the links will take you off-site.