PILLAR: Fiscally Sound
AGENDA DATE: June 24, 2026
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Office of Procurement Services
PRIORITY: N/A
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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 3...
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