PILLAR: Fiscally Sound
AGENDA DATE: June 24, 2026
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Office of Procurement Services
PRIORITY: N/A
______________________________________________________________________
SUBJECT
Title
Authorize a one-year service contract in the amount of $157,000 for the period June 24, 2026 through June 23, 2027, with three one-year renewal options in the amount of $471,000, as detailed in the Fiscal Information section, for investment monitoring and advisory services in relation to the City’s pensions for the City Controller's Office - Callan Holdings Inc. dba Callan LLC, most advantageous proposer of seven - Total not to exceed $628,000 - Financing: General Fund (subject to annual appropriations)
Body
BACKGROUND
This action does not encumber funds; the purpose of a service contract is to establish firm pricing for services, for a specific term, which are ordered on an as needed basis.
This service contract will provide for investment monitoring and advisory services in relation to the City’s pensions for the City Controller's Office. The City is sponsor of two defined-benefit pension plans including the Dallas Police and Fire Pension System (DPFP) and the Employee Retirement Fund (ERF). Each plan provides retirement, disability, and death benefits for permanent city employees.
DPFP was established in 1916 and is governed by Texas Civil Statue, Article 6243a-1. This system is overseen by an eleven-member board of trustees including six mayoral appointees and five member-elected representatives. DPFP has approximately 5250 current retirees and beneficiaries, and approximately 5350 active uniform employees. This system is funded by city contributions, employee contributions, and return on investments. As of January 1, 2026, the market value of assets of DPFP was $ 2.25 billion. DPFP is currently operating under a city-board joint funding agreement that has been accepted by the Texas Pension Review Board and will be fully funded within 30-years.
ERF was established in 1944 and is governed by Chapter 40-A of the Dallas City Code. This system is overseen by a seven-member board including three mayoral appointees, three member-elected representatives, and the city auditor. ERF has approximately 8050 current retirees and beneficiaries, and approximately 8075 active non-uniform or civilian employees. This system is funded by city contributions, employee contributions, and return on investments. As of December 31, 2025, the market value of assets of ERF was $3.97 billion. ERF is currently operating under a city-board joint funding agreement that was approved by Dallas voters and has been accepted by the Texas Pension Review Board and will be fully funded within 30-years.
As part of the FY 2025-26 annual operating budget, City Council approved an amendment to fund an independent investment advisory contract to review and make recommendations regarding the investments of each pension system. This agenda item will approve a contract for the investment advisory and monitoring contract.
A seven-member committee from the following departments reviewed and evaluated the qualifications:
• Budget and Management Services (1)
• City Controller's Office (1)
• Dallas Police Department (1)
• Dallas Water Utilities Department (1)
• Office of Economic Development (1)
• Office of Procurement Services (2)*
*The Office of Procurement Services evaluated cost and the Dallas Regional and Inclusive Vendor Enterprises (DRIVE) Policy.
The committee selected the successful respondents on the basis of demonstrated competence and qualifications under the following criteria:
• Capability and expertise 25 points
• Cost 25 points
• Qualifications, time commitments and
availability/accessibility of assigned staff 15 points
• References 15 points
• DRIVE Policy 20 points
As part of the solicitation process and in an effort to increase competition, the Office of Procurement Services used its procurement system to send out email notifications to vendors registered under relevant commodity codes. To further increase competition, the Office of Procurement Services uses historical solicitation information, the Internet, and vendor contact information obtained from user departments to contact additional vendors.
On November 10, 2015, the City Council authorized a living wage policy that requires contractors to pay their employees a “living wage” rate as established annually by the Massachusetts Institute of Technology Living Wage Calculator for Dallas County by Resolution No. 15-2141. The calculated living wage during the solicitation process of this contract is $23.06; the selected vendor meets this requirement.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
The Committee on Finance was briefed by memorandum regarding this matter on June 23, 2026. <https://dallascityhall.com/government/citymanager/Documents/Council%20Materials/June%2024,%202026,%20Upcoming%20Agenda%20Item%20%2326-1927A.pdf>
FISCAL INFORMATION
|
Fund |
FY 2026 |
FY 2027 |
Future Years |
|
General Fund |
$157,000.00 |
$157,000.00 |
$314,000.00 |
Initial Term: $157,000
Renewal Option Year 1: $157,000.00
Renewal Option Year 2: $157,000.00
Renewal Option Year 3: $157,000.00
Total $628,000.00
LOCAL PARTICIPATION
|
Prime |
Status |
Workforce % |
|
Callan Holdings Inc. dba Callan LLC |
Non-local |
0.00% |
PROCUREMENT INFORMATION
Method of Evaluation for Award Type:
|
Request for |
• Utilized for professional, personal, revenue, and planning services |
|
Proposal |
• Recommended offeror is the responsible offeror whose proposal most closely meets established criteria for the services advertised, based on demonstrated competence and qualifications at a fair and reasonable price |
|
|
• Always involves the evaluation by committee |
|
|
• Allows for negotiation on contract terms, including price |
The Office of Procurement Services received the following proposals from solicitation number BEZ26-00029974. We opened them on May 1, 2026. We recommend the City Council award this service contract in its entirety to the most advantageous proposer.
*Denotes successful proposer
Proposers Address Score
*Callan Holdings Inc. One Bush St. 65.30
dba Callan LLC Suite 700
San Francisco, CA 94104
Cerity Partners Institutional 800 Fifth Ave. 64.84
Consulting Suite 3900
Seattle, WA 98104
The Hackett Group, LLC 2021 Lakeshore Dr. 62.43
Suite 200
New Orleans, LA 70122
Marquette Associates, Inc. 180 North LaSalle St. 57.37
Suite 3500
Chicago, IL 60601
Ensemble Financial, Inc. 5301 Alpha Rd. 51.40
Suite 80-219
Dallas, TX 75240
Commerce Street Investment 1445 Ross Ave. 49.72
Management Suite 2700
Dallas, TX 75202
R.V. Kuhns & Associates, 222 Southwest Columbia St. Non-responsive
Inc. dba RVK, Inc. Suite 600
Portland, OR 97201
OWNER/EXECUTIVE
Callan Holdings Inc. dba Callan LLC
Ron Peyton, Executive Chairman