240026-CONTRACT.PDF

CONTRACT INVESTMENT ADVISORY SERVICES
240026-RFP
This contract is entered into this 7th day of February, 2024 by and between Maricopa County (“County”), a
political subdivision of the State of Arizona, and SageView Advisory Group, LLC, a California corporation,
(“Contractor”) for the purchase of investment advisory services similar to an ERISA 3(21) advisor in support
of the County’s Smart Savings (deferred compensation; section 457b governmental plan) and Post-
Retirement Health Plan (HRA arrangement). Services required include plan sponsor fiduciary services, plan
sponsor investment advisory services including investment alternative evaluation, rating, and
recommendation, legislative and regulatory updates that may impact Smart Savings, plan design
consulting, vendor selection, fee benchmarking, fee equity and transparency guidance, and participant
education.
1.0 CONTRACT TERM
This contract is for a term of three years, beginning on the 1st of February, 2024 and ending the
31st of January, 2027.
2.0 OPTION TO RENEW
The County may, at its option and with the concurrence of the Contractor, renew the term of this
contract up to a maximum of five additional years, (or at the County’s sole discretion, extend the
contract on a month-to-month basis for a maximum of six months after expiration). The Contractor
shall be notified in writing by the Office of Procurement Services of the County’s intention to renew
the contract term at least 60 calendar days prior to the expiration of the original contract term.
3.0 CONTRACT COMPLETION
In preparation for contract completion, the Contractor shall make all reasonable efforts for an
orderly transition of its duties and responsibilities to another provider and/or to the County. This
may include, but is not limited to, preparation of a transition plan and cooperation with the County
or other providers in the transition. The transition includes the transfer of all records and other data
in the possession, custody, or control of the Contractor that are required to be provided to the
County either by the terms of this agreement or as a matter of law. The provisions of this clause
shall survive the expiration or termination of this agreement.
4.0 PRICE ADJUSTMENTS
Any requests for reasonable price adjustments must be submitted 60 calendar days prior to
contract expiration. Requests for adjustment in cost of labor and/or materials must be supported
by appropriate documentation. The reasonableness of the request will be determined by comparing
the request with the Consumer Price Index or by performing a market survey. If County agrees to
the adjusted price terms, County shall issue written approval of the change and provide an updated
version of the contract. The new change shall not be in effect until the date stipulated on the
updated version of the contract.

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5.0 PAYMENTS
5.1 As consideration for performance of the duties described herein, County shall pay
Contractor the sum(s) stated in Exhibit A – Vendor Information & Pricing Sheet [this
information is from the RFP response Attachment A-Vendor Information & Attachment D-
Pricing Sheet].
5.2 Payment shall be made upon the County’s receipt of a properly completed invoice.
5.3 INVOICES
5.3.1 The Contractor shall submit one legible copy of their detailed invoice before
payment(s) will be made. Incomplete invoices will not be processed. At a
minimum, the invoice must provide the following information:
• Company name, address, and contact information
• County bill-to name and contact information
• Contract serial number
• County purchase order number
• Project name and/or number
• Invoice number and date
• Payment terms
• Date of service or delivery
• Description of purchase (product or services)
• Total amount due
5.3.2 Problems regarding billing or invoicing shall be directed to the department as listed
on the purchase order.
5.3.3 Payment shall only be made to the Contractor by Accounts Payable through the
Maricopa County Vendor Express Payment Program. This is an electronic funds
transfer (EFT) process. After contract award, the Contractor shall complete the
Vendor Registration Form accessible from the County Department of Finance
Vendor Registration Web Site https://www.maricopa.gov/5169/Vendor-
Information.
5.3.4 Discounts offered in the contract shall be calculated based on the date a properly
completed invoice is received by the County.
5.3.5 EFT payments to the routing and account numbers designated by the Contractor
shall include the details on the specific invoices that the payment covers. The
Contractor is required to discuss remittance delivery capabilities with their
designated financial institution for access to those details.
5.4 APPLICABLE TAXES
5.4.1 It is the responsibility of the Contractor to determine any and all applicable taxes
and include those taxes in their proposal. The legal liability to remit the tax is on
the entity conducting business in Arizona. Tax is not a determining factor in
contract award.
5.4.2 The County will look at the price or offer submitted and will not deduct, add, or alter
pricing based on speculation or application of any taxes, nor will the County
provide Contractor any advice or guidance regarding taxes. If you have questions
regarding your tax liability, seek advice from a tax professional prior to submitting
your bid. You may also find information at https://www.azdor.gov/Business.aspx.
Once your bid is submitted, the offer is valid for the time specified in this solicitation,
regardless of mistake or omission of tax liability. If the County finds overpayment
of a project due to tax consideration that was not due, the Contractor will be liable

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to the County for that amount, and by contracting with the County agrees to remit
any overpayments back to the County for miscalculations on taxes included in a
bid price.
5.4.3 Tax Indemnification: Contractor and all subcontractors shall pay all Federal, State,
and local taxes applicable to their operation and any persons employed by the
Contractor. Contractor shall, and require all subcontractors to, hold Maricopa
County harmless from any responsibility for taxes, damages, and interest, if
applicable, contributions required under Federal and/or State and local laws and
regulations, and any other costs including: transaction privilege taxes,
unemployment compensation insurance, Social Security, and workers’
compensation. Contractor may be required to establish, to the satisfaction of
County, that any and all fees and taxes due to a municipality, the County, or the
State of Arizona for any license or transaction privilege taxes, use taxes, or similar
excise taxes are currently paid (except for matters under legal protest).
6.0 AVAILABILITY OF FUNDS
6.1 The provisions of this contract relating to payment for services shall become effective when
funds assigned for the purpose of compensating the Contractor as herein provided are
actually available to County for disbursement. The County shall be the sole judge and
authority in determining the availability of funds under this contract. County shall keep the
Contractor fully informed as to the availability of funds.
6.2 If any action is taken by, any State agency, Federal department, or any other agency or
instrumentality to suspend, decrease, or terminate its fiscal obligations under, or in
connection with, this contract, County may amend, suspend, decrease, or terminate its
obligations under, or in connection with, this contract. In the event of termination, County
shall be liable for payment only for services rendered prior to the effective date of the
termination, provided that such services are performed in accordance with the provisions
of this contract. County shall give written notice of the effective date of any suspension,
amendment, or termination under this section, at least 10 days in advance.
7.0 STRATEGIC ALLIANCE for VOLUME EXPENDITURES (SAVE)
The County is a member of the SAVE cooperative purchasing group. SAVE includes the State of
Arizona, many Phoenix metropolitan area municipalities, and many K-12 unified school districts.
Under the SAVE Cooperative Purchasing Agreement, and with the concurrence of the successful
respondent under this solicitation, a member of SAVE may access a contract resulting from a
solicitation issued by the County. If contractor does not want to grant such access to a member of
SAVE, state so in contractor’s bid. In the absence of a statement to the contrary, the County will
assume that contractor does wish to grant access to any contract that may result from this bid. The
County assumes no responsibility for any purchases by using entities.
8.0 INTERGOVERNMENTAL COOPERATIVE PURCHASING AGREEMENTS (ICPAs)
County currently holds ICPAs with numerous governmental entities. These agreements allow those
entities, with the approval of the Contractor, to purchase their requirements under the terms and
conditions of the County contract. It is the responsibility of the non-County government entity to
perform its own due diligence on the acceptability of the contract under its applicable procurement
rules, processes, and procedures. Certain governmental agencies may not require an ICPA and
may utilize this contract if it meets their individual requirements. Other governmental agencies may
enter into a separate Statement of Work with the Contractor to meet their own requirements. The
County is not a party to any uses of this contract by other governmental entities.
9.0 DUTIES
9.1 The Contractor shall perform all duties stated in Exhibit B – Scope of Work, or as otherwise
directed in writing by the procurement officer.

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9.2 Contractor shall furnish all necessary labor, materials, equipment, and space needed to
provide investment advice on the selection of appropriate asset classes, recommending
managers or mutual fund investment options appropriate for such asset classes, and
monitoring funds and replacing them as appropriate and prudent. Additionally, contractor
shall monitor and report on fund performance and recommend replacement funds as
appropriate and prudent and shall follow the investment policy statement to guide these
recommendations.
9.3 Contractor shall, at a minimum, provide the following services:
9.3.1 Provide investment research and analysis of current investment funds and
recommendations to maintain a best in class, diversified lineup across all asset
classes with a minimum number of funds and most favorable expenses/fees. Any
recommended changes in investment shall include a proposed investment option
mapping from deleted funds.
9.3.2 Ensure the County has access to investment managers and products.
9.3.3 Monitor market trends.
9.3.4 Provide an annual review of the Investment Policy Statement including the
selection of appropriate asset categories and policy criteria for selecting,
monitoring, and releasing Fund Managers.
9.3.5 Assist the County in obtaining favorable fee arrangements, including participation
in fee negotiations, if necessary.
9.3.6 Benchmark fees, and provide consultation on fee equity and transparency, as
needed.
9.3.7 Measure, monitor, and report quarterly performance of investments against
industry benchmarks and peer group indices. Prepare and provide quarterly
performance reports to the County in a timely manner. Attend quarterly committee
meetings, virtually, to present the reports in collaboration with the recordkeeper.
Explain any significant fund over- or under-performance, changes in fund
managers and management, risk, and standard deviation characteristics, style and
cycle analysis, and recommendations. Conduct regular portfolio-level reviews to
assess the primary factors affecting returns.
9.3.8 Recommend termination and/or replacement alternatives of funds, as necessary.
9.3.9 Monitor investment philosophy and process so that fund managers are remaining
true to their discipline.
9.3.10 Provide fiduciary advice and assistance to the Maricopa County Deferred
Compensation Committee (“Committee”) on a variety of topics including market
overviews, current market trends, legislative changes and processes,
recordkeeper searches.
9.3.11 Provide fiduciary training and orientation to new and existing committee members.
9.3.12 Monthly review the book-to-market ratio and market-value-liability of the Stable
Value Fund (Guaranteed Separate Account). Provide consultation on the future of
this fund.
9.3.13 Provide plan design consultation.
9.3.14 Develop and maintain excellent working relationships with the County.

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9.3.15 Provide assistance with vendor management and vendor searches for plan
recordkeeping and GSA manager, as needed.
9.4 CONTRACTOR QUALIFICATIONS
9.4.1 Contractor’s primary source of revenue (i.e., at least 50%) shall be from investment
advisory and consultation services.
9.4.2 Contractor shall:
9.4.2.1 Be an SEC-registered investment advisor or exempt from registration.
9.4.2.2 Have positive net worth and shall maintain a positive net worth for the
duration of any contract with the County.
9.5 CONTRACTOR WARRANTIES
9.5.1 Contractor shall be registered as an investment advisor under the Investment
Advisors Act of 1940 and shall always maintain such registration throughout the
term of the contract (unless exempt and an explanation of exemption is attached).
9.5.2 During the term of the contract, contractor shall meet the bonding requirement
provided by Section 412 of the Employment Retirement Income Security Act of
1974 (ERISA) or shall carry at least an equivalent fidelity bond applicable to
contractor’s actions under the contract (unless exempt and an explanation of
exemption is attached).
9.5.3 Contractor shall have completed, obtained, and performed, and shall maintain all
registrations, filings, approvals, authorizations, consents, and examinations,
required by a government or governmental authority, including the State of
Arizona, to perform all duties specified by the contract.
9.5.4 Contractor shall act solely in a fiduciary capacity and shall not receive any fee or
compensation based upon the purchase or sale of securities but, rather, the
contractor will be compensated pursuant to the provision of its contract with
County.
10.0 TERMS AND CONDITIONS
10.1 INDEMNIFICATION
10.1.1 To the fullest extent permitted by law, and to the extent that claims, damages,
losses, or expenses are not covered and paid by insurance purchased by the
contractor, the contractor shall defend, indemnify, and hold harmless the County
(as Owner), its agents, representatives, officers, directors, officials, and employees
from and against all claims, damages, losses, and expenses (including, but not
limited to attorneys' fees, court costs, expert witness fees, and the costs and
attorneys' fees for appellate proceedings) arising out of, or alleged to have resulted
from, the negligent acts, errors, omissions, or mistakes of the contractor, a
subcontractor, anyone directly or indirectly employed by them, or anyone for
whose acts they may be liable relating to the performance of this contract.
10.1.2 Contractor's duty to defend, indemnify, and hold harmless the County, its agents,
representatives, officers, directors, officials, and employees shall arise in
connection with any claim, damage, loss, or expense that is attributable to bodily
injury, sickness, disease, death, or injury to, impairment of, or destruction of
tangible property, including loss of use resulting therefrom, caused by negligent
acts, errors, omissions, or mistakes in the performance of this contract, but only to

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the extent caused by the negligent acts or omissions of the contractor, a
subcontractor, anyone directly or indirectly employed by them, or anyone for
whose acts they may be liable, regardless of whether or not such claim, damage,
loss, or expense is caused in part by a party indemnified hereunder.
10.1.3 The amount and type of insurance coverage requirements set forth herein will in
no way be construed as limiting the scope of the indemnity in this section.
10.1.4 The scope of this indemnification does not extend to the sole negligence of County.
10.2 INSURANCE
10.2.1 Contractor, at Contractor’s own expense, shall purchase and maintain, at a
minimum, the herein stipulated insurance from a company or companies duly
licensed by the State of Arizona and possessing an AM Best, Inc. category rating
of B++. In lieu of State of Arizona licensing, the stipulated insurance may be
purchased from a company or companies, which are authorized to do business in
the State of Arizona, provided that said insurance companies meet the approval of
County. The form of any insurance policies and forms must be acceptable to
County.
10.2.2 All insurance required herein shall be maintained in full force and effect until all
work or service required to be performed under the terms of the contract is
satisfactorily completed and formally accepted. Failure to do so may, at the sole
discretion of County, constitute a material breach of this contract.
10.2.3 In the event that the insurance required is written on a claims-made basis,
Contractor warrants that any retroactive date under the policy shall precede the
effective date of this contract and either continuous coverage will be maintained,
or an extended discovery period will be exercised for a period of two years
beginning at the time work under this contract is completed.
10.2.4 Contractor’s insurance shall be primary insurance as respects County, and any
insurance or self-insurance maintained by County shall not contribute to it.
10.2.5 Any failure to comply with the claim reporting provisions of the insurance policies
or any breach of an insurance policy warranty shall not affect the County’s right to
coverage afforded under the insurance policies.
10.2.6 The insurance policies may provide coverage that contains deductibles or self-
insured retentions. Such deductible and/or self-insured retentions shall not be
applicable with respect to the coverage provided to County under such policies.
Contractor shall be solely responsible for the deductible and/or self-insured
retention and County, at its option, may require Contractor to secure payment of
such deductibles or self-insured retentions by a surety bond or an irrevocable and
unconditional letter of credit.
10.2.7 The insurance policies required by this contract, except Workers’ Compensation
and Errors and Omissions, shall name County, its agents, representatives, officers,
directors, officials, and employees as additional insureds.
10.2.8 The policies required hereunder, except Workers’ Compensation and Errors and
Omissions, shall contain a waiver of transfer of rights of recovery (subrogation)
against County, its agents, representatives, officers, directors, officials, and
employees for any claims arising out of Contractor’s work or service.

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10.2.9 If available, the insurance policies required by this contract may be combined with
Commercial Umbrella Insurance policies to meet the minimum limit requirements.
If a Commercial Umbrella insurance policy is utilized to meet insurance
requirements, the Certificate of Insurance shall indicate which lines the
Commercial Umbrella Insurance covers.
10.2.9.1 Commercial General Liability
Commercial General Liability (CGL) insurance and, if necessary,
Commercial Umbrella insurance with a limit of not less than $2,000,000
for each occurrence, $4,000,000 Products/Completed Operations
Aggregate, and $4,000,000 General Aggregate Limit. The policy shall
include coverage for premises liability, bodily injury, broad form property
damage, personal injury, products and completed operations and
blanket contractual coverage, and shall not contain any provisions which
would serve to limit third party action over claims. There shall be no
endorsement or modifications of the CGL limiting the scope of coverage
for liability arising from explosion, collapse, or underground property
damage.
10.2.9.2 Workers’ Compensation
10.2.9.2.1 Workers’ compensation insurance to cover obligations
imposed by Federal and State statutes having jurisdiction of
Contractor’s employees engaged in the performance of the
work or services under this contract; and Employer’s Liability
insurance of not less than $1,000,000 for each accident,
$1,000,000 disease for each employee, and $1,000,000
disease policy limit.
10.2.9.2.2 Contractor, its subcontractors, and sub-subcontractors
waive all rights against this contract and its agents, officers,
directors, and employees for recovery of damages to the
extent these damages are covered by the workers’
compensation and Employer’s Liability or Commercial
Umbrella Liability insurance obtained by Contractor, its
subcontractors, and its sub-subcontractors pursuant to this
contract.
10.2.9.3 Errors and Omissions/Professional Liability Insurance
Contractor shall maintain Professional Liability insurance which will
provide coverage for any and all acts arising out of the work or services
performed by the contractor under the terms of this contract, with a limit
of not less than $2,000,000 for each claim, and $4,000,000 aggregate
claims.
10.2.10 Certificates of Insurance
10.2.10.1 Prior to contract award, Contractor shall furnish the County with valid
and complete Certificates of Insurance, or formal endorsements as
required by the contract in the form provided by the County, issued by
Contractor’s insurer(s), as evidence that policies providing the required
coverage, conditions and limits required by this contract are in full force
and effect. Such certificates shall identify this contract number and title.
10.2.10.2 In the event any insurance policy(ies) required by this contract is (are)
written on a claims-made basis, coverage shall extend for two years past

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completion and acceptance of Contractor’s work or services and as
evidenced by annual certificates of insurance.
10.2.10.3 If a policy does expire during the life of the Contract, a renewal certificate
must be sent to County 15 calendar days prior to the expiration date.
10.2.10.4 Certificates of Insurance shall identify Maricopa County as the certificate
holder as follows:
Maricopa County
c/o Risk Management
301 W Jefferson St, Suite 910
Phoenix, AZ 85003
10.2.11 Cancellation and Expiration Notice
Applicable to all insurance policies required within the insurance requirements of
this contract, Contractor’s insurance shall not be permitted to expire, be
suspended, be canceled, or be materially changed for any reason without 30 days
prior written notice to Maricopa County. Contractor must provide to Maricopa
County, within two business days of receipt, if they receive notice of a policy that
has been or will be suspended, canceled, materially changed for any reason, has
expired, or will be expiring. Such notice shall be sent directly to Maricopa County
Office of Procurement Services and shall be mailed, or hand delivered to
301 W. Jefferson St. Suite 700, Phoenix, AZ 85003, or emailed to the procurement
officer noted in the solicitation.
10.3 POST AWARD MEETING
The contractor may be required to attend a post-award meeting with the department to discuss
the terms and conditions of this contract. This meeting will be coordinated by the procurement
officer of the contract.
10.4 FORCE MAJEURE
10.4.1 Neither party shall be liable for failure of performance, nor incur any liability to the
other party on account of any loss or damage resulting from any delay or failure to
perform all or any part of this contract, if such delay or failure is caused by events,
occurrences, or causes beyond the reasonable control and without negligence of
the parties. Such events, occurrences, or causes include, but are not limited to,
acts of God/nature (including fire, flood, earthquake, storm, hurricane, or other
natural disaster), war, invasion, act of foreign enemies, hostilities (whether war is
declared or not), civil war, riots, rebellion, revolution, insurrection, military or
usurped power or confiscation, terrorist activities, nationalization, government
sanction, lockout, blockage, embargo, labor dispute, strike, and interruption or
failure of electricity or telecommunication service, and pandemic.
10.4.2 Each party, as applicable, shall give the other party notice of its inability to perform
and particulars in reasonable detail of the cause of the inability. Each party must
use best efforts to remedy the situation and remove, as soon as practicable, the
cause of its inability to perform or comply.
10.4.3 The party asserting Force Majeure as a cause for non-performance shall have the
burden of proving that reasonable steps were taken to minimize delay or damages
caused by foreseeable events, that all non-excused obligations were substantially
fulfilled, and that the other party was timely notified of the likelihood or actual
occurrence which would justify such an assertion, so that other prudent
precautions could be contemplated.

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10.5 ORDERING AUTHORITY
Any request for purchase shall be accompanied by a valid purchase order issued by a
County department or directed by a Certified Agency Procurement Aid (CAPA) with a
purchase card for payment.
10.6 PROCUREMENT CARD ORDERING CAPABILITY
County may opt to use a procurement card (Visa or Master Card) to make payment for
orders under this contract.
10.7 INTERNET ORDERING CAPABILITY
It is the intent of Maricopa County to use the Internet to communicate and to place orders
under this contract.
10.8 NO MINIMUM OR MAXIMUM PURCHASE OBLIGATION
This contract does not guarantee any minimum or maximum purchases will be made.
Orders will only be placed under this contract when the County identifies a need and proper
authorization and documentation have been approved.
10.9 PURCHASE ORDERS
10.9.1 County reserves the right to cancel purchase orders within a reasonable period of
time after issuance. Should a purchase order be canceled, the County agrees to
reimburse the Contractor for actual and documentable costs incurred by the
Contractor in response to the purchase order. The County will not reimburse the
Contractor for any costs incurred after receipt of County notice of cancellation, or
for lost profits, or for shipment of product prior to issuance of purchase order.
10.9.2 Contractor agrees to accept verbal notification of cancellation of purchase orders
from the County procurement officer with written notification to follow. Contractor
specifically acknowledges to be bound by this cancellation policy.
10.10 BACKGROUND CHECK
Respondents may be required to pass multiple background checks (e.g. Sheriff’s Office,
County Attorney's Office, Courts, as well as Maricopa County general government) to
determine if the respondent is acceptable to do business with the County. This applies to,
but is not limited to, the company, subcontractors, and employees, and the failure to pass
these checks shall deem the respondent non-responsible.
10.11 SUSPENSION OF WORK
The procurement officer may order the Contractor, in writing, to suspend, delay, or interrupt
all or any part of the work of this contract for the period of time that the procurement officer
determines appropriate for the convenience of the County. No adjustment shall be made
under this clause for any suspension, delay, or interruption to the extent that performance
would have been so suspended, delayed, or interrupted by any other cause, including the
fault or negligence of the Contractor. No request for adjustment under this clause shall be
granted unless the claim, in an amount stated, is asserted in writing as soon as practicable
after the termination of the suspension, delay, or interruption, but not later than the date of
final payment under the contract.

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10.12 STOP WORK ORDER
10.12.1 The procurement officer may, at any time, by written order to the Contractor,
require the Contractor to stop all, or any part, of the work called for by this contract
for a period of 90 calendar days after the order is delivered to the Contractor, and
for any further period to which the parties may agree. The order shall be specifically
identified as a stop work order issued under this clause. Upon receipt of the order,
the Contractor shall immediately comply with its terms and take all reasonable
steps to minimize the incurrence of costs allocable to the work covered by the order
during the period of work stoppage. Within a period of 90 calendar days after a
stop work order is delivered to the Contractor, or within any extension of that period
to which the parties shall have agreed, the procurement officer shall either:
10.12.1.1 cancel the stop work order; or
10.12.1.2 terminate the work covered by the order as provided in the Termination
for Default or the Termination for Convenience clause of this contract.
10.12.1.3 The procurement officer may make an equitable adjustment in the
delivery schedule and/or contract price, and the contract shall be
modified, in writing, accordingly, if the Contractor demonstrates that the
stop work order resulted in an increase in costs to the Contractor
10.13 TERMINATION FOR CONVENIENCE
Maricopa County may terminate the resultant contract for convenience by providing 60
calendar days advance notice to the Contractor.
10.14 TERMINATION FOR DEFAULT
10.14.1 The County may, by written Notice of Default to the Contractor, terminate this
contract in whole or in part if the Contractor fails to:
10.14.1.1 deliver the supplies or to perform the services within the time specified
in this contract or any extension;
10.14.1.2 make progress, so as to endanger performance of this contract; or
10.14.1.3 perform any of the other provisions of this contract.
10.14.2 The County’s right to terminate this contract under these subparagraphs may be
exercised if the Contractor does not cure such failure within 10 business days (or
more if authorized in writing by the County) after receipt of a Notice to Cure from
the procurement officer specifying the failure.
10.15 PERFORMANCE
It shall be the Contractor’s responsibility to meet the proposed performance requirements.
Maricopa County reserves the right to obtain services on the open market in the event the
Contractor fails to perform, and any price differential will be charged against the Contractor.
10.16 CONTRACTOR EMPLOYEE MANAGEMENT
County reserves the right to request the replacement of any Contractor personnel at any
time, for any reason.

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10.17 WARRANTY OF SERVICES
10.17.1 The Contractor warrants that all services provided hereunder will conform to the
requirements of the contract, including all descriptions, specifications, and
attachments made a part of this contract. County’s acceptance of services or
goods provided by the Contractor shall not relieve the Contractor from its
obligations under this warranty.
10.17.2 In addition to its other remedies, County may, at the Contractor's expense, require
prompt correction of any services failing to meet the Contractor's warranty herein.
Services corrected by the Contractor shall be subject to all the provisions of this
contract in the manner and to the same extent as services originally furnished
hereunder.
10.18 INSPECTION OF SERVICES
10.18.1 The Contractor shall provide and maintain an inspection system acceptable to
County covering the services under this contract. Complete records of all
inspection work performed by the Contractor shall be maintained and made
available to County during contract performance and for as long afterwards as the
contract requires.
10.18.2 County has the right to inspect and test all services called for by the contract, to
the extent practicable at all times and places during the term of the contract.
County shall perform inspections and tests in a manner that will not unduly delay
the work.
10.18.3 If any of the services do not conform to contract requirements, County may require
the Contractor to perform the services again in conformity with contract
requirements, at no cost to the County. When the defects in services cannot be
corrected by re-performance, County may:
10.18.3.1 require the Contractor to take necessary action to ensure that future
performance conforms to contract requirements; and
10.18.3.2 reduce the contract price to reflect the reduced value of the services
performed.
10.18.4 If the Contractor fails to promptly perform the services again or to take the
necessary action to ensure future performance in conformity with contract
requirements, County may:
10.18.4.1 by contract or otherwise, perform the services and charge to the
Contractor, through direct billing or through payment reduction, any cost
incurred by County that is directly related to the performance of such
service; or
10.18.4.2 terminate the contract for default.
10.19 USAGE REPORT
The Contractor shall furnish the County a usage report, upon request, delineating the
acquisition activity governed by the contract. The format of the report shall be approved by
the County and shall disclose the quantity and dollar value of each contract item by
individual unit of measure.

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10.20 STATUTORY RIGHT OF CANCELLATION FOR CONFLICT OF INTEREST
Notice is given that, pursuant to A.R.S. § 38-511, the County may cancel any contract
without penalty or further obligation within three years after execution of the contract, if any
person significantly involved in initiating, negotiating, securing, drafting, or creating the
contract on behalf of the County is at any time, while the contract or any extension of the
contract is in effect, an employee or agent of any other party to the contract in any capacity
or consultant to any other party of the contract with respect to the subject matter of the
contract. Additionally, pursuant to A.R.S. § 38-511, the County may recoup any fee or
commission paid or due to any person significantly involved in initiating, negotiating,
securing, drafting, or creating the contract on behalf of the County from any other party to
the contract arising as the result of the contract.
10.21 OFFSET FOR DAMAGES
In addition to all other remedies at Law or Equity, the County may offset from any money
due to the Contractor any amounts Contractor owes to the County for damages resulting
from breach or deficiencies in performance of the contract.
10.22 SUBCONTRACTING
10.22.1 The Contractor may not assign to another Contractor or subcontract to another
party for performance of the terms and conditions hereof without the written
consent of the County. All correspondence authorizing subcontracting must
reference the bid serial number and identify the job or project.
10.22.2 The subcontractor’s rate for the job shall not exceed that of the prime Contractor’s
rate, as bid in the pricing section, unless the prime Contractor is willing to absorb
any higher rates. The subcontractor’s invoice shall be invoiced directly to the prime
Contractor, who in turn shall pass-through the costs to the County, without mark-
up. A copy of the subcontractor’s invoice must accompany the prime Contractor’s
invoice.
10.23 AMENDMENTS
All amendments to this contract shall be in writing and approved/signed by both parties.
Maricopa County Office of Procurement Services shall be responsible for approving all
amendments for Maricopa County.
10.24 ADDITIONS/DELETIONS OF REQUIREMENTS
The County reserves the right to add and/or delete materials and services to a contract. If
a service requirement is deleted, payment to the Contractor will be reduced proportionately
to the amount of service reduced in accordance with the bid price. If additional materials
or services are required from a contract, prices for such additions will be negotiated
between the Contractor and the County.
10.25 RIGHTS IN DATA
10.25.1 The County shall have the use of data and reports resulting from a contract without
additional cost or other restriction except as may be established by law or
applicable regulation. Each party shall supply to the other party, upon request, any
available information that is relevant to a contract and to the performance
thereunder.
10.25.2 Data, records, reports, and all other information generated for the County by a third
party as the result of a contract are the property of the County and shall be provided
in a format designated by the County or shall be and remain accessible to the
County into perpetuity.

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10.26 ACCESS TO AND RETENTION OF RECORDS FOR THE PURPOSE OF AUDIT AND/OR
OTHER REVIEW
10.26.1 In accordance with Section MC1-372 of the Maricopa County Procurement Code,
the Contractor agrees to retain (physical or digital copies of) all books, records,
accounts, statements, reports, files, and other records and back-up documentation
relevant to this contract for six years after final payment or until after the resolution
of any audit questions, which could be more than six years, whichever is longest.
The County, Federal or State auditors and any other persons duly authorized by
the department shall have full access to and the right to examine, copy, and make
use of, any and all said materials.
10.26.2 If the Contractor’s books, records, accounts, statements, reports, files, and other
records and back-up documentation relevant to this contract are not sufficient to
support and document that requested services were provided, the Contractor shall
reimburse Maricopa County for the services not so adequately supported and
documented.
10.27 AUDIT DISALLOWANCES
If at any time it is determined by the County that a cost for which payment has been made
is a disallowed cost, the County shall notify the Contractor in writing of the disallowance.
The course of action to address the disallowance shall be at sole discretion of the County,
and may include either an adjustment to future invoices, request for credit, request for a
check, or a deduction from current invoices submitted by the Contractor equal to the
amount of the disallowance, or to require reimbursement forthwith of the disallowed amount
by the Contractor by issuing a check payable to Maricopa County.
10.28 STRICT COMPLIANCE
Acceptance by County of a performance that is not in strict compliance with the terms of
the contract shall not be deemed to be a waiver of strict compliance with respect to all other
terms of the contract.
10.29 VALIDITY
The invalidity, in whole or in part, of any provision of this contract shall not void or affect
the validity of any other provision of the contract.
10.30 SEVERABILITY
The removal, in whole or in part, of any provision of this contract shall not void or affect the
validity of any other provision of this contract.
10.31 RELATIONSHIPS
10.31.1 In the performance of the services described herein, the Contractor shall act solely
as an independent Contractor, and nothing herein or implied herein shall at any
time be construed as to create the relationship of employer and employee, co-
employee, partnership, principal and agent, or joint venture between the County
and the Contractor.
10.31.2 The County reserves the right of final approval on proposed staff. Also, upon
request by the County, the Contractor will be required to remove any employees
working on County projects and substitute personnel based on the discretion of
the County within two business days, unless previously approved by the County.

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10.32 NON-DISCRIMINATION
Contractor agrees to comply with all provisions and requirements of Arizona Executive
Order 2009-09, including flow down of all provisions and requirements to any
subcontractors. Executive Order 2009-09 supersedes Executive Order 99-4 and amends
Executive Order 75-5 and is hereby incorporated into this contract as if set forth in full
herein. During the performance of this contract, Contractor shall not discriminate against
any employee, client, or any other individual in any way because of that person’s age, race,
creed, color, religion, sex, disability, or national origin.
(Arizona Executive Order 2009-09 can be viewed at
https://apps.azsos.gov/public_services/register/2009/46/governor.pdf)
10.33 WRITTEN CERTIFICATION PURSUANT to A.R.S. § 35-393.01
If vendor engages in for-profit activity and has 10 or more employees, and if this agreement
has a value of $100,000 or more, vendor certifies it is not currently engaged in, and agrees
for the duration of this agreement to not engage in, a boycott of goods or services from
Israel. This certification does not apply to a boycott prohibited by 50 U.S.C. § 4842 or a
regulation issued pursuant to 50 U.S.C. § 4842.
10.34 CERTIFICATION REGARDING DEBARMENT AND SUSPENSION
10.34.1 The undersigned (authorized official signing on behalf of the Contractor) certifies
to the best of his or her knowledge and belief that the Contractor, its current
officers, and directors:
10.34.1.1 are not presently debarred, suspended, proposed for debarment,
declared ineligible, or voluntarily excluded from being awarded any
contract or grant by any United States department or agency or any
state, or local jurisdiction;
10.34.1.2 have not within a three-year period preceding this contract:
10.34.1.2.1 been convicted of fraud or any criminal offense in
connection with obtaining, attempting to obtain, or as the
result of performing a government entity (Federal, State or
local) transaction or contract; or
10.34.1.2.2 been convicted of violation of any Federal or State antitrust
statutes or conviction for embezzlement, theft, forgery,
bribery, falsification or destruction of records, making false
statements, or receiving stolen property regarding a
government entity transaction or contract;
10.34.1.3 are not presently indicted or criminally charged by a government entity
(Federal, State or local) with commission of any criminal offenses in
connection with obtaining, attempting to obtain, or as the result of
performing a government entity public (Federal, State or local)
transaction or contract;
10.34.1.4 are not presently facing any civil charges from any governmental entity
regarding obtaining, attempting to obtain, or from performing any
governmental entity contract or other transaction; and
10.34.1.5 have not within a three-year period preceding this contract had any
public transaction (Federal, State or local) terminated for cause or
default.

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10.34.2 If any of the above circumstances described in the paragraph are applicable to the
entity submitting a bid for this requirement, include with your bid an explanation of
the matter including any final resolution.
10.34.3 The Contractor shall include, without modification, this clause in all lower tier
covered transactions (i.e. transactions with subcontractors or sub-subcontractors)
and in all solicitations for lower tier covered transactions related to this contract. If
this clause is applicable to a subcontractor or sub-subcontractor, the Contractor
shall include the information required by this clause with their bid.
10.35 VERIFICATION REGARDING COMPLIANCE WITH A.R.S. § 41-4401 AND FEDERAL
IMMIGRATION LAWS AND REGULATIONS
10.35.1 By entering into the contract, the Contractor warrants compliance with the
Immigration and Nationality Act (INA using E-Verify) and all other Federal
immigration laws and regulations related to the immigration status of its employees
and A.R.S. § 23-214(A). The Contractor shall obtain statements from its
subcontractors certifying compliance and shall furnish the statements to the
procurement officer upon request. These warranties shall remain in effect through
the term of the contract. The Contractor and its subcontractors shall also maintain
Employment Eligibility Verification forms (I-9) as required by the Immigration Reform
and Control Act of 1986, as amended from time to time, for all employees performing
work under the contract and verify employee compliance using the E-Verify system
and shall keep a record of the verification for the duration of the employee’s
employment or at least three years, whichever is longer. I-9 forms are available for
download at www.uscis.gov.
10.35.2 The County retains the legal right to inspect documents of Contractor and
subcontractor employees performing work under this contract to verify compliance
with paragraph 10.35.1 of this section. Contractor and subcontractor shall be given
reasonable notice of the County’s intent to inspect and shall make the documents
available at the time and date specified. Should the County suspect or find that the
Contractor or any of its subcontractors are not in compliance, the County will
consider this a material breach of the contract and may pursue any and all remedies
allowed by law, including, but not limited to: suspension of work, termination of the
contract for default, and suspension and/or debarment of the Contractor. All costs
necessary to verify compliance are the responsibility of the Contractor.
10.36 Contractor EMPLOYEE WHISTLEBLOWER RIGHTS AND REQUIREMENT TO INFORM
EMPLOYEES OF WHISTLEBLOWER RIGHTS
10.36.1 The parties agree that this contract and employees working on this contract will be
subject to the Contractor employee whistleblower protections established by Title
41 U.S.C. § 4712 and Section 3.908 of the Federal Acquisition Regulation.
10.36.2 Contractor shall inform its employees in writing, in the predominant language of
the workforce, of employee whistleblower rights and protections under 41 U.S.C.
§ 4712, as described in Section 3.908 of the Federal Acquisition Regulation.
Documentation of such employee notification must be kept on file by Contractor
and copies provided to County upon request.
10.36.3 Contractor shall insert the substance of this clause, including this paragraph, in all
subcontracts over the simplified acquisition threshold ($250,000 as of fiscal year
2018).

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10.37 CONTRACTOR LICENSE REQUIREMENT
The Contractor shall procure all permits, insurance, and licenses, and pay the charges and
fees necessary and incidental to the lawful conduct of his/her business, and as necessary
complete any requirements, by any and all governmental or non-governmental entities as
mandated to maintain compliance with and remain in good standing. The Contractor shall
keep fully informed of existing and future trade or industry requirements, and Federal,
State, and local laws, ordinances, and regulations which in any manner affect the fulfillment
of a contract and shall comply with the same. Contractor shall immediately notify both
Office of Procurement Services and the department of any and all changes concerning
permits, insurance, or licenses.
10.38 INFLUENCE
10.38.1 As prescribed in MC1-1203 of the Maricopa County Procurement Code, any effort
to influence an employee or agent to breach the Maricopa County Ethical Code of
Conduct or any ethical conduct, may be grounds for disbarment or suspension
under MC1-902.
10.38.2 An attempt to influence includes, but is not limited to:
10.38.2.1 A person offering or providing a gratuity, gift, tip, present, donation,
money, entertainment or educational passes or tickets, or any type of
valuable contribution or subsidy that is offered or given with the intent to
influence a decision, obtain a contract, garner favorable treatment, or
gain favorable consideration of any kind.
10.38.3 If a person attempts to influence any employee or agent of Maricopa County, the
chief procurement officer, or his designee, reserves the right to seek any remedy
provided by the Maricopa County Procurement Code, any remedy in equity or in
the law, or any remedy provided by this contract.
10.39 CONFIDENTIAL INFORMATION
10.39.1 Any information obtained in the course of performing this contract may include
information that is proprietary or confidential to the County. This provision
establishes the Contractor’s obligation regarding such information.
10.39.2 The Contractor shall establish and maintain procedures and controls that are
adequate to assure that no information contained in its records and/or obtained
from the County or from others in carrying out its functions (services) under the
contract shall be used by or disclosed by it, its agents, officers, or employees,
except as required to efficiently perform duties under the contract. The Contractor’s
procedures and controls, at a minimum, must be the same procedures and controls
it uses to protect its own proprietary or confidential information. If, at any time
during the duration of the contract, the County determines that the procedures and
controls in place are not adequate, the Contractor shall institute any new and/or
additional measures requested by the County within 15 business days of the
written request to do so.
10.39.3 Any requests to the Contractor for County proprietary or confidential information
shall be referred to the County for review and approval, prior to any dissemination.
10.40 PUBLIC RECORDS
Under Arizona law, all offers submitted and opened are public records and must be
retained by the County at the Maricopa County Office of Procurement Services. Offers shall
be open to public inspection and copying after contract award and execution, except for
such offers or sections thereof determined to contain proprietary or confidential information

SERIAL 240026-RFP
by the Office of Procurement Services. If an offeror believes that information in its offer or
any resulting contract should not be released in response to a public record request, under
Arizona law, the offeror shall indicate the specific information deemed confidential or
proprietary and submit a statement with its offer detailing the reasons that the information
should not be disclosed. Such reasons shall include the specific harm or prejudice which
may arise from disclosure. The records manager of the Office of Procurement Services
shall determine whether the identified information is confidential pursuant to the Maricopa
County Procurement Code.
10.41 INTEGRATION
This contract represents the entire and integrated agreement between the parties and
supersedes all prior negotiations, proposals, communications, understandings,
representations, or agreements, whether oral or written, expressed, or implied.
10.42 UNIFORM ADMINISTRATIVE REQUIREMENTS
By entering into this contract, the Contractor agrees to comply with all applicable provisions
of Title 2, Subtitle A, Chapter II, Part 200—UNIFORM ADMINISTRATIVE
REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL
AWARDS contained in Title 2 C.F.R. § 200 et seq.
10.43 GOVERNING LAW
This contract shall be governed by the laws of the State of Arizona. Venue for any actions
or lawsuits involving this contract will be in Maricopa County Superior Court, Phoenix,
Arizona.
10.44 FORCED LABOR
10.44.1 By submitting a bid for this solicitation and/or entering into a contract as a result of
this solicitation, contractor agrees to comply with all applicable portions of Arizona
Revised Statutes Section 35-394. Contracting; procurement; prohibition; written
certification; remedy; termination; exception; definitions.
10.44.2 Contractor certifies that it does not currently, and agrees for the duration of the
contract, that it will not use:
10.44.2.1 The forced labor of ethnic Uyghurs in the People’s Republic of China.
10.44.2.2 Any goods or services produced by the forced labor of ethnic Uyghurs
in the People’s Republic of China.
10.44.2.3 Any contractors, subcontractors or suppliers that use the forced labor or
any good or services produced by the forced labor of ethnic Uyghurs in
the People’s Republic of China.
10.44.3 If contractor becomes aware during the term of the agreement that contractor is
not in compliance with this paragraph, the contractor shall notify the County within
five business days after becoming aware of the noncompliance. If the contractor
fails to provide a written certification to the County that the contractor has remedied
the noncompliance within 180 days after notifying the County of its noncompliance,
then the agreement terminates, except that if the agreement termination date
occurs before the end the 180 day period, the agreement terminates on the
agreement termination date.

SERIAL 240026-RFP
10.45 PRICES
Contractor warrants that prices extended to County under this contract are no higher than
those paid by any other customer for these or similar services.
10.46 ORDER OF PRECEDENCE
In the event of a conflict in the provisions of this contract and Contractor’s license
agreement, if applicable, the terms of this contract shall prevail.
10.47 UNIQUE ENTITY IDENTIFIER (UEI) AND SYSTEM FOR AWARD MANAGEMENT
REGISTRATION
All contractors that receive funding must have a UEI number through
https://sam.gov/content/entity-registration. Contractor must also remain current with the
System for Award Management www.sam.gov throughout the term of the contract.
10.48 POLITICAL ACTIVITY PROHIBITED
None of the funds, materials, property, or services contributed by the County or the
contractor under the agreement shall be used in the performance of this agreement for any
partisan political activity, or to further the election or defeat of any candidate for public
office.
10.49 CERTIFICATION REGARDING LOBBYING
10.49.1 Contractor certifies, to the best of their knowledge and belief, that:
10.49.1.1 No federal appropriated funds have been paid or will be paid, by or on
behalf of the contractor, to any person for influencing or attempting to
influence an officer or employee of any agency. This applies to a
Member of Congress, an officer or employee of Congress, or an
employee of a Member of Congress in connection with the awarding of
any federal contract, the making of any federal grant. Including the
making of any federal, loan the entering into of any cooperative
agreement, and the extension, continuation, renewal, amendment, or
modification of any federal contract, grant, loan, or cooperative
agreement.
10.49.2 If any funds other than federal appropriated funds, have been paid or will be paid
to any person for influencing or attempting to influence an officer or employee of
any agency, member of Congress, an officer or employee of Congress, or an
employee of a member of Congress in connection with this federal contract, grant,
loan, or cooperative agreement, the undersigned shall complete and submit
Standard Form-LLL, “Disclosure Form to Report Lobbying,” in accordance with its
instructions.
10.49.3 Contractor shall include Lobbying Certification language in the award documents
for all subcontractors (including sub-grants, and contract under grants, loans, and
cooperative agreements) and that all sub-recipients shall certify and disclose
accordingly.
10.49.3.1 The Lobbying Certification is a material representation of fact upon
which reliance was placed when this transaction is made or entered into.
Submission of this certification is prerequisite for making or entering into
this transaction imposed by section 1352, Title 31, U.S. Code. Any
successful proposer(s) who fail to file the required certification shall be
subject to a civil penalty of not less than $10,000.00 and not more than
$100,000.00 for each such failure.

SERIAL 240026-RFP
10.50 INCORPORATION OF DOCUMENTS
10.50.1 The following are to be attached to and made part of this Contract:
10.50.1.1 Exhibit A - Vendor Information and Pricing
10.50.1.2 Exhibit B - Scope of Work
10.50.1.3 Exhibit B(a): Scope of Work for PersonalSAGE Financial
Education Platform Overview
10.50.1.4 Exhibit C – Service Level Agreement with Performance Guarantees
10.50.1.5 Exhibit D - Respondent Questionnaire and Responses to Clarifying
Questions
10.50.1.6 Exhibit E - Certification of Incorporation of Warranties
10.50.1.7 Exhibit F – Lobbying Packet
10.51 NOTICES
All notices given pursuant to the terms of this contract shall be addressed to:
For County:
Maricopa County
Office of Procurement Services
301 W. Jefferson St. Suite 700
Phoenix, Arizona 85003-1647
For Contractor:
SageView Advisory Group, LLC
522 SW 5th Avenue, Suite 1225
Portland, OR 97204
10.52 INQUIRIES
10.52.1 Administrative telephone/email inquiries shall be addressed to:
ELIZABETH KUTTNER, PROCUREMENT OFFICER
TELEPHONE: (602) 506-0099
elizabeth.kuttner@maricopa.gov
10.52.2 Inquiries may be submitted by telephone but must be followed up in writing. No
oral communication is binding on Maricopa County.

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IN WITNESS WHEREOF, this contract is executed on the date set forth above.
CONTRACTOR
AUTHORIZED SIGNATURE
PRINTED NAME AND TITLE
ADDRESS
DATE
MARICOPA COUNTY
CHAIRMAN, BOARD OF SUPERVISORS DATE
ATTESTED:
CLERK OF THE BOARD DATE
APPROVED AS TO FORM:
DEPUTY COUNTY ATTORNEY DATE

SERIAL 240026-RFP
EXHIBIT A: VENDOR INFORMATION AND PRICING
COMPANY NAME: SageView Advisory Group, LLC
DOING BUSINESS AS (dba):
MAILING ADDRESS: 522 SW 5th Avenue, Suite 1225, Portland, OR 97204
REMIT TO ADDRESS:
TELEPHONE NUMBER: (949) 955-1395
FAX NUMBER: (949) 988-3215
WWW ADDRESS: www.sageviewadvisory.com
REPRESENTATIVE NAME: Jake O'Shaughnessy
REPRESENTATIVE TELEPHONE NUMBER: (503) 841-5255
REPRESENTATIVE EMAIL ADDRESS joshaughnessy@sageviewadvisory.com
UNIQUE ENTITY ID (UEI) FROM SAM.GOV CXBUL83389B9
YES NO REBATE
WILL ALLOW OTHER GOVERNMENTAL ENTITIES TO PURCHASE
FROM THIS CONTRACT:
WILL ACCEPT PROCUREMENT CARD FOR PAYMENT:
NET 30 DAYS
1.0 PRICING:
1.1 Investment Advisory Service as described in Scope of Work Not to Exceed
1.1.1 February 1, 2024 through January 31, 2025 $ 75,000.00
1.1.2 February 1, 2025 through January 31, 2026 $ 78,000.00
1.1.3 February 1, 2026 through January 31, 2027 $ 81,000.00

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EXHIBIT B - SCOPE OF WORK
Jonathan Upham is authorized to bind the firm to all commitments made in the proposal and contractually.
Jake O’Shaughnessy is the main point of contact for the Plan and for this RFP. If you have any questions,
please do not hesitate to contact Jonathan or Jake at the contact information listed below:
Jonathan Upham, AIF® Jake O’Shaughnessy, CFA
President and Head of Institutional Retirement 4000 Managing Director
MacArthur Boulevard, Suite 1050 522 SW 5th Avenue, Suite 1225
Newport Beach, CA 92660 Portland, OR 97204
(949) 955-1395 (503) 688-3535
jupham@sageviewadvisory.com joshaughnessy@sageviewadvisory.com
5.6.1.1. Proposal – This section shall contain an executive summary (an outline of the general approach
utilized in the proposal) and a statement of all of the programs and services proposed, including
conclusions and generalized recommendations. Proposals should be all-inclusive, detailing
respondent’s best offer.
SageView has read Maricopa’s Request for Proposals (RFP) for 457 plan and investment consulting
services and certify that we have adequate personnel, equipment, and facilities to provide the requested
services in the RFP to provide Plan Sponsor Fiduciary and Plan Sponsor Investment Advisory Services.
The following contains an overview of the service team for Maricopa County, led by Jake O’Shaughnessy.
Please note that the proposed service team is broken into “Core” and “Supplemental” personnel. Core
Service Team members will be the day-to-day contacts and the individuals attending Committee meetings.
Additional dedicated experts make up the Supplemental Service Team that will be engaged should
specialized services / projects be required. We have provided the Core Service Team biographies later in
our response. Should additional information regarding each individual be needed, we would be more than
happy to provide it at a later time.
CORE TEAM:
Team Lead (Jake O’Shaughnessy)
Account Management
Practice Management Support
SUPPLEMENTAL TEAM
Vendor RFP and Benchmarking
Director of Compliance
Compliance Consultant
The SageView Core team will continue to provide the following ongoing investment advisory services and
fiduciary due diligence for Maricopa County (note that all meetings with the County shall be held virtually):
• Monitor, evaluate and rate all of the Plan investments and provide recommendations regarding all
funds.
• Meet with the Committee on a quarterly basis, as decided by the Committee, and prepare all
materials in advance.
• Document Committee meetings and ongoing investment decisions through meeting minutes.
• Consult with the Committee on an as-needed basis between meetings to keep them apprised of any
changes in regulations or industry trends that impact the decision making of the Committee or
investment-related issues that need immediate attention.
• Serve as a liaison between all service providers to monitor value being provided to the plans and
ensure timely responses to issues/concerns of the Committee and participants.
• Review the Investment Policy Statement and Committee Charter on an annual basis as well as all
plan costs, education campaigns, plan milestones and goals of the plan.
• Provide ongoing compliance monitoring and fiduciary training for all Committee members.
• Provide services to conduct a recordkeeping RFP curing the course of this Consulting Contract

SERIAL 240026-RFP
These services are included in our annual fixed fee (See Exhibit A: Vendor Information and Pricing).
SageView Advisory Group, LLC (“SageView”) is a SEC Registered Investment Advisory (“RIA”) firm
founded in 1989 to provide fiduciary and investment consulting services to retirement plans. As of June 30,
2023, we provide consulting services to 2,236 retirement plans with $183.5 billion in assets under
advisement. SageView currently has 275 employees across 33 offices nationwide.
Our current clients include a diverse array of states, counties, cities, and other governmental agencies
throughout the nation. As a result of the large number of public plan provider bids we manage, we have
extensive experience in working with investment managers, custodians, auditors, and other service
providers that serve governmental/public entities. Our goal is to leverage our experience and insight to
deliver superior service experience and value to our clients.
SageView has been working with public sector plan sponsors since our earliest years and we see a
tremendous opportunity to help governmental plan sponsors to continue optimizing their retirement
programs into the future. The frequent existence of a defined benefit plan or hybrid plan, in some cases the
ability to extend the plan to multiple municipalities, the public nature of procurement and decision making,
the non-ERISA regulatory environment, and a unique set of administrative providers which focus on this
arena are some of the reasons that the public employer deferred compensation industry demands an
advisor that is familiar with these aspects. Our focus and experience in this area has resulted in several
public entities selecting SageView to be their unbiased advisory partner.
SageView is committed to understanding and advocating for the unique needs of public sector retirement
plan sponsors and employees. To further demonstrate our commitment to the governmental deferred
compensation industry, SageView is a sponsor at the National Association of Government Defined
Contribution Administrators (“NAGDCA”) conference each year and sends several employees to attend and
contribute to the conference. In addition, Jake spoke at the 2023 regarding recordkeeping RFP Best
Practices and has previously served as the NAGDCA Industry Committee President. SageView is also a
frequent attendee and supporter of several state public sector associations.
SageView has no conflicts of interest in providing 457 plan and investment consulting services for Maricopa
County. We have not directly nor indirectly induced or solicited any person to submit a false proposal or to
refrain from proposing, nor have we in any manner sought by collusion to secure an advantage over any
other proposer. We have not retained or been retained to solicit or secure a state contract or an agreement
or understanding for a commission, percentage, brokerage, or contingent fee. We have thoroughly
examined the RFP requirements and our proposed fees cover all services that we have indicated we can
meet. We acknowledge and accept all terms and conditions included in the RFP.
5.6.1.2. Respondent shall include with their proposal drafts of the following documents which the County
may negotiate and/or may be incorporated into the contact:
5.6.1.4 Service Level Agreement
• See Exhibit C: Service Level Agreement with Performance Guarantees
5.6.1.3.2. Submit at least two samples of participant investment education pieces*
PARTICIPANT EDUCATION
SageView shall provide the following Participant Education at no fee to the County:
• Monthly Financial Wellness Workshop Webinars
• Virtual Pre-Retiree Bootcamps and national webinars
• Pre-retiree and asset allocation email campaigns
• Two days of on-site education -Specific content/presentations to be mutually agreed upon
by client.

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SageView shall provide PersonalSage to the County should the County wish to activate this option
and as described below:
• SageView shall provide PersonalSage unlimited coaching to the County should the County
decide to turn on/activate this option for 12-months of service starting on a mutually agreed
upon future effective date for an annual fee of $27,500.00 that will be due when/if the
service is activated.
• SageView shall pass through to the County, with no mark-up, any implementation charges
from our 3rd party vendor.
• The County is under no obligation to exercise the option to accept PersonalSage education
and shall not incur any expenses related to PersonalSage unless the County exercises the
option to activate the services.
See Exhibit B(a): Scope of Work for PersonalSage Financial Education Platform Overview for
additional information about PersonalSage.
QUALIFICATIONS
This section shall describe the respondent’s ability and experience related to the programs and services
proposed. All project personnel, as applicable, shall be listed, including a description of assignments and
responsibilities, a resume of professional experience, an estimate of the time each would devote to this
program, and other pertinent information.
Please see below for the estimated time we anticipate each proposed service team member to devote to the
Maricopa County retirement program. Please note that we work on a fixed fee for service basis and will
devote as much time as necessary to provide the services outlined in the Scope of Work.
Role Personnel Name Estimated Hours
Lead Advisor Jake O’Shaughnessy 6 hours
Supporting Advisor 4 hours/quarter
Practice Management Support 2 hours/quarter
Performance Measurement Team Corporate Resources 2 hours/quarter
Investment Committee Corporate Resources 2 hours/annually
Review/Support
Roles on Service Team
Team Lead
The Team Lead, Jake O’Shaughnessy, is responsible for the overall relationship between SageView and the
County. He will continue to advise the Board on plan design, recordkeeper oversight, and fiduciary best
practices to analyze your retirement program to determine the most effective way for your employees to
maximize their benefit.
Account Management
The Account Manager supports the day-to-day delivery of services such as preparing performance reports
and investment manager searches, when necessary, as well as acting as a liaison between the County and
all other service providers. He will leverage his experience in working with your retirement plan to continue
to analyze the current plan design structure and recommend changes that may benefit your participants or
make your plan easier to administer. He will also work closely with the Team Lead to benchmark all fees
currently being paid by the Plan and its participants to determine their reasonableness. Furthermore, he is
a member SageView’s Investment Committee and can share the insights gained from this role directly with
the County.

SERIAL 240026-RFP
Practice Management Support
Account Management Support plays an integral role in servicing the County’s relationship by facilitating the
investment performance reporting process and communicating with County staff regarding meeting
deliverables and scheduling. By providing a constant and prompt point of contact for County, you can rest
assured that a member of the SageView team will be available to meet your needs at all times. Account
Management Support provides administrative support for the Team Lead’s book of business.

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EXHIBIT B(a) - SCOPE OF WORK FOR PERSONALSAGE FINANCIAL
EDUCATION PLATFORM OVERVIEW
TABLE OF CONTENTS:
I. PersonalSAGE Financial Education Platform Overview
II. PersonalSAGE Core Services
III. PersonalSAGE Additional Features
IV. Implementation Timeline & Pricing
I. PERSONAL SAGE FINANCIAL EDUCATION PLATFORM OVERVIEW
PersonalSAGE represents SageView’s desire to help employees feel confident about their finances, be
prepared for retirement, and our commitment to providing the resources necessary to achieve that goal.
Providing customized communication that is easy for individuals to understand, as well as webinars and
personal consultations, is essential in helping employees meet their financial goals and helps them be more
engaged and productive in the workplace.
PersonalSAGE is a comprehensive financial wellness platform providing personalized solutions aimed at
encouraging participants to engage with our team of financial coaches, thus, each program element
provides an opportunity to make a connection with participants. Our coaches serve as a point-in-time
fiduciary for the advice provided and will be available to answer general Participant questions about their
retirement plan and investments.
Please see below for the services we offer under this model, which are all provided by our PersonalSAGE
technology and/or a financial coach:

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II. PERSONALSAGE CORE SERVICES
Monthly Financial Wellness Workshop Webinars
Our team hosts monthly employee webinars on various financial wellness topics. These Wellness
Workshops provide a base layer of education for participants. The following is the annual schedule of
upcoming webinars in 2024:
On-Site Education
SageView will provide education, in either a group and/or one-on-one setting upon the County’s preference.
The education provided will be curated to meet the specific needs of your participants, and we will look to
coordinate with you to build out the curriculum. The number of education days can be coordinated as an
ad hoc service.
Pre-Retiree Education – Retirement Success Program
The Retirement Success Program is a multi-channel offering that includes emails, mailers, flyers, webinars,
and one-on-one meetings for participants. This program is offered to employees over the age of 50. The
Program entails bi-weekly email campaign for the first 2 months, followed by a monthly email campaign or
the following 6 months. SageView’s team of PersonalSAGE Financial Coaches will host national Pre-
Retiree Bootcamp webinars for employees to educate them on navigating their financial futures, which
includes topics such as Social Security, Medicare, understanding Tax essentials, appropriate asset
allocation, and making money last in retirement.
Following the conclusion of the program, we will review the results with the Plan Sponsor and reassess our
education plan based on the success and engagement of this program. Program participants will continue
to receive a quarterly pre-retirement newsletter following completion of the program.
Please note that this program can only be implemented upon receipt of a census file from the County,
which should include a list of employees and the following information on each individual: e-mail
addresses, phone numbers, mailing addresses, age, and retirement plan account balances. As an
alternative, the Plan Sponsor can also separately identify the group of participants for us to include in
this program.
Participant Website and Call Center
Employees are provided access to an online resource center at https://mypersonalsage.com/. Through this
website, participants can view our library of educational materials, sign up for webinars, and connect with
a financial coach for financial advice (either on-demand or via scheduling tool). Our one-on-one

SERIAL 240026-RFP
consultations can be held/scheduled by phone or via zoom. The financial coaches can provide point-in-
time recommendations to assist the Participant with the following:
• Making informed investment choices,
• help to develop a plan to draw down debt, or
• ways to build up an emergency savings plan.
Our goal is to look at the participants’ entire financial situation, as opposed to only looking at their retirement
account balance. Coaches are trained on the nuances of Governmental retirement plan provisions,
including the unique Maricopa County Defined Benefit Plan provisions for those that may be eligible.
Employee Transition Solutions
Entering a new place of employment and leaving an existing employer can be an overwhelming experience
with the large number of choices available. With the SageView’s Employee Transitions Solutions program,
a financial coach is available to guide new participants through transferring money from the previous
employer’s retirement plan, show them how to log in to the new recordkeeper website, discuss new
investment options, and provide them with savings advice. For participants who are leaving, we can help
them understand their options of either taking a distribution, keeping money in the plan, considering a
rollover to an IRA, or transferring to a new employer’s plan. Each option has pros, cons, and important tax
considerations that our Financial Coaches can walk through with them to make the best-informed decision.
Financial Snapshot
Employees receive a personalized snapshot of their financial standing after completing a brief, web-based
intake questionnaire. This snapshot serves as a base for an introductory, high-level financial plan and will
be accessible on a point-in-time basis. After completing the initial intake questionnaire, Employees can
access additional web-based questionnaires regarding financial habits and mindset to further personalize
their experience. There are multiple stages/levels of these questionnaires. In addition, there are over 150
resources in the form of worksheets, videos, articles, and links to helpful resources.
III. PERSONALSAGE ADDITIONAL FEATURES
Monthly Email Newsletters for Employees
Within the PersonalSAGE Financial Education Platform, we will communicate directly with employees. This
will require a periodic census file upload via SFTP site which is unique to Maricopa County. Monthly
newsletters include the delivery of a piece of education, reminders of upcoming Wellness Workshops,
information on accessing the Financial Coaches, and prompted to access the Financial Snapshot
experience.

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Plan Sponsor Utilization Reporting
We will provide Plan Sponsors with a quarterly utilization report for PersonalSAGE, which includes statistics
on how many employees are utilizing our call center, attending each of our monthly webinars, have
completed a Financial Snapshot intake questionnaire, and have met with a Financial Coach. These reports
are extremely useful to identify any trends within the County’s Participant base, or where we should focus
our education time.
IV. IMPLEMENTATION TIMELINE & PRICING
Our PersonalSAGE launch to our clients typically takes 2-4 weeks. Please see below for a sample timeline
of our initial PersonalSAGE engagement:
Timeframe* Content Involved
Parties
Pre-Launch Contract discussion County and
SageView
Kick-off conversation
Week 1 Ideal timeline for launch County and
SageView
Connectivity groundwork - technology
Additional questions and marketing
Weeks 2 & 3 communication Assignment of unique login County and
code SageView
Preview and delivery of marketing materials
Census File with complete employee details
uploaded to SFTP Site by the County
Launch
SageView provides sample email language for
Week 4 participants, sample marketing materials that we County and
will be sending directly to participants, and any SageView
additional resources requested
SageView is offering the PersonalSAGE Employee Education platform to Maricopa County and their
employees for an annual fee of $27,500 for a 12 month period.
*Additional time may be needed for special services or requests.

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EXHIBIT C – SERVICE LEVEL AGREEMENT WITH PERFORMANCE GUARANTEES
SAGEVIEW – PERFORMANCE GUARANTEES
SageView Performance Guarantee Fee at risk if guarantee is not met
Emails/phone calls replied within 1 business day $1,000 per occurrence
Meeting minutes provided 10 calendar days prior to $1,000 per occurrence
next scheduled meeting
Agenda review completed and returned no later than $1,000 per occurrence
10 calendar days prior to meeting date
Performance Reports delivered no later than 10 $1,000 per occurrence
calendar days prior to meeting date**
1. How will the non-performance be triggered? How will fees be paid?
Non-performance will be triggered by Maricopa County when a performance guarantee is not met.
SageView shall deduct any potential fee from our quarterly invoice in the quarter following when a
guarantee not being met.
** Performance Reports shall be provided to the County no later than 10 calendar days prior to County
executive meetings, assuming the due date is later than 35 days after quarter end, unless a different
delivery date of performance reports is negotiated with and approved in writing by the County.

SERIAL 240026-RFP
EXHIBIT D - RESPONDENT QUESTIONNAIRE AND RESPONSES TO
CLARIFYING QUESTIONS
RESPONSES TO CLARIFYING QUESTIONS received from SageView 12/14/23
1. How will the non-performance [re: SageView Performance Guarantee] be triggered? How
paid?
Non-performance will be triggered by Maricopa County when a performance guarantee is not met. We
would prefer to deduct any potential fee from our quarterly invoice in the quarter following when a
guarantee not being met.
SageView Performance Guarantee Fee at risk if guarantee is not met
Emails/phone calls replied within 1 business day $1,000 per occurrence
Meeting minutes provided 10 days prior to next $1,000 per occurrence
scheduled meeting
Agenda review completed and returned 10 days prior $1,000 per occurrence
to meeting date
Performance Reports delivered 7 days prior to $1,000 per occurrence
meeting date
2. Is the coaching unlimited? If not, how many coaching calls are available per employee per
year?
We do not currently limit the number of coaching calls available per employee. If the financial needs
of the participant are outside of the scope of the PersonalSAGE service, they would be eligible to
have a conversation with a Wealth Advisor. This type of arrangement would be outside of the scope
of the PersonalSAGE agreement, and the individual employee would be made aware of any potential
cost associated with these services. While PersonalSAGE is meant to improve financial confidence,
provide point-in-time advice, and enhance the education of the employees, it is not considered an all-
in financial advice solution that would be as robust as hiring a personal advisor for an individual
financial plan, or investment management solutions. If the County would like to limit the number of
calls, we are open to discussing that type of arrangement, but we have not had the need to this point.
3. The County requires a data file with participant ID and date of coaching call for awarding an
incentive. Can SageView provide the report according to the County’s 3rd party provider? On
what schedule? Bi-weekly is desired. Monthly is required.
For many of the components, this would be a manual process, and for others. we would be
responsible for building the data feed. There might be a cost associated with building the data feed,
however, we would request further discussion before determination. Additional information that we
would request would be to indicate the County’s 3rd party provider and whether they require SSO
capabilities. Currently, our systems are set up to provide reporting back to Plan Sponsors in
aggregate and do not provide individual data. We can, however, provide individual information on
usage rates of these components.
4. How many and what other clients offer PersonalSage?
Currently, we have 34 clients on the PersonalSAGE platform, which was launched in January of this
year. There are an additional 23 clients in the contracting phase of implementation. In the interest of
our clients, we are not at liberty to share the names of adopting employers.

SERIAL 240026-RFP
RESPONDENT QUESTIONNAIRE (Submitted as Attachment E in response to request for proposal
240026-RFP)
MARICOPA COUNTY 240026-RFP INVESTMENT ADVISORY SERVICES
ATTACHMENT E-RESPONDENT QUESTIONNAIRE
RESPONDENT NAME: SageView Advisory Group
Q# Question Response
C1 Describe the history of your firm. SageView Advisory Group, LLC (“SageView”) is a
Include: SEC Registered Investment Advisory (“RIA”) firm
- the month and year of SEC 1940 Act founded in April 1989 to provide fiduciary and
registration investment consulting services to retirement plans
- the month and year the firm began sponsored by corporate and tax-exempt clients.
offering investment consulting services We became registered with the SEC 1940 Act in
to tax-exempt clients. April 1998.
Our core deliverable is to provide investment
advisory services, including investment
management, fiduciary governance, vendor/fee
benchmarking, plan design consulting, plan
compliance operations, managing vendor
relationships, and employee education.
Please see below for a general timeline of our
history:
• 1989 – Firm founded in Irvine, CA (now in
Newport Beach, CA)
• 2003 – Opened second office in Los Angeles, CA
• 2004 – Acquired Willis Insurance Retirement
Practice
• 2008 – Established DB/Actuarial Group and
began offering 3(38) services
• 2009 – Retirement plan assets to which we
consult surpassed $10 billion
• 2010 – Number of retirement plans to which we
consult surpassed 500
• 2011 – SageView Foundation launched to share
a portion of SageView’s success with those in need
• 2012 – Retirement plan assets to which we
consult surpassed $25 billion
• 2013 – CEO, Randy Long received Lifetime
Achievement Award from PLANADVISER Magazine
• 2014 – Named Multi-Office Retirement Plan
Adviser of the Year by PLANSPONSOR Magazine
• 2015 – Number of retirement plans to which we
consult surpassed 1,000
• 2016 – Acquired advisors and public plan

SERIAL 240026-RFP
retirement plan business from Arnerich Massena
• 2018 – Cumulative SageView Foundation
charitable donations exceeded $1 million
• 2019 – Opened 25th office
• 2020 – Partnership with Aquiline Capital
Partners
• 2021 – Acquired MJM401k and Arnerich
Massena’s remaining retirement plan business
• 2022 – Acquired Channel Financial, Capital One
Investing, and kPlans, Summit Financial
Consultants, Lakeview Financial Services,
Horsetooth Financial; opened 32nd office
• 2023 – Acquired Retirement Benefits Group; Our
firm founder, Randy Long transitions from the role
of CEO to the role of Chairman of the Board, and
John Longley is appointed new CEO
C2 Describe the ownership of your firm. SageView is a privately held organization owned
Include: by its employees along with an interest from
- Ownership structure private equity firm Aquiline Capital Partners. Our
- Affiliated companies or joint ventures structure includes oversight by our Aquiline Board,
- If an affiliate, provide % of parent in addition to the SageView Executive Committee
firm’s total revenue generated by your consisting of:
organization
- If the firm is a joint venture partner, • John Longley – Chief Executive Officer
identify the % ownership and • Jon Upham, AIF – Principal
revenues recognized by each partner to • Tony Notermann – Chief Financial Officer
the combined association. • Natasha Pfieffer– General Counsel
• Jorge Bernal – Chief Operating Officer
• Tara Egan – Chief Human Resources Director
We do not have any affiliated companies or joint
ventures.
C3 Have there been any organizational No. In December 2020, SageView entered a
changes in the last five years that may strategic partnership with Aquiline Capital
impact your ability to provide services Partners to facilitate growth through acquisition
listed in the scope of services? and to enhance service and technology
deliverables for our clients. SageView has been
providing fiduciary services to institutional
retirement plans since 1989, and this partnership
does not impact our ability to provide services
listed in the scope of services.
C4 Does your firm, its employees and/or No.
any of its affiliates or related entities
own any interest in or are a part of a
broker/dealer, money management
firm, third party administrator,
recordkeeper, insurance company or
other organization that sells
investments, administration, auditing,
legal or related services to retirements

SERIAL 240026-RFP
plans?
If so, describe all in detail.
C5 Describe your firm's policies and SageView’s conflict of interest information for
procedures to prevent possible conflicts managing and/or preventing conflicts from
of interest which may result from other occurring is embedded in our Code of Ethics
services or products provided by or to Policy, which is enforced by our Chief Compliance
your firm or affiliated organizations. Officer (CCO). As a condition of employment, all
new employees are required to acknowledge, in
writing, that they have reviewed and will abide by
the Code of Ethics Policy. In addition, our internal
compliance team conducts annual reviews of
organizational conformance with all corporate
policies and reports to senior management on any
noted variances. At the heart of our policy is doing
what is in the best interest of our clients. To that
end, we do not and will not accept any outside
compensation from any third party. While it
should be noted that violations of the Code of
Ethics Policy will result in termination of
employment, the County should take solace in
learning we have never terminated an employee
for this reason. If a potential conflict of interest
should arise at any time during our contract, we
will notify the County immediately, as well as
discuss appropriate actions to resolve the
situation.
C6 Does your firm have any No. We do not have any conflicts of interest with
conflicts of interest with the County's any recordkeepers and can work with any in the
457(b) plan’s recordkeeper? (i.e., industry.
Nationwide Retirement Services)
C7 Does your firm, its employees and/or No.
any of its affiliates or related entities
receive any remuneration or other
economic benefit from any
broker/dealer, money management
firm, third party administrator,
insurance company or other
organization that sells investments, or
any other firm providing audit,
administration, investments,
recordkeeping, legal or related services
to retirement plans?
If so, describe all in detail.
C8 List the total number of persons SageView has 38 employees who serve in
employed by function (i.e., technology, corporate operations resources (Accounting,
HR, in investment consulting services) Finance, Operations), 150 in investment consulting
services, and in 87 private wealth management.

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C9 Provide the location and function of Arizona – Phoenix; Retirement Plan Consulting; 9
each of your firm’s offices:Location employees
Function No. of Professionals
California – Culver City;
Retirement Plan Consulting; 1 employee
California – Manhattan Beach; Retirement Plan
Consulting; 1 employee
California – Newport Beach (HQ); Corporate Operations
Resources, Retirement Plan Consulting and Private
Wealth Management; 84 employees
California – San Diego; Retirement Plan Consulting; 5
employees
California – San Jose; Retirement Plan Consulting and
Private Wealth Management; 5 employees
California – Valencia; Retirement Plan Consulting; 5
employees
California – Westlake Village; Retirement Plan
Consulting; 6 employees
California – Woodside; Retirement Plan Consulting; 10
employees
Colorado – Denver; Retirement Plan Consulting and
Private Wealth Management; 8 employees
Connecticut – West Hartford; Retirement Plan
Consulting; 1 employee
District of Columbia, Washington; Retirement Plan
Consulting; 4 employees
Florida – West Palm Beach; Retirement Plan Consulting;
6 employees
Georgia – Atlanta; Retirement Plan Consulting; 3
employees
Hawaii – Honolulu; Retirement Plan Consulting; 2
employees
Illinois – Chicago; Retirement Plan Consulting; 5
employees
Massachusetts – Boston; Retirement Plan Consulting; 8
employees
Massachusetts – Northampton; Private Wealth
Management; 4 employees
Michigan – Bloomfield Hills; Private Wealth
Management; 26 employees

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Michigan – Grosse Pointe Farms; Private Wealth
Management; 2 employees
Minnesota – Minneapolis; Retirement Plan Consulting;
14 employees
Missouri – Kansas City; Retirement Plan Consulting; 1
employee
Nebraska – Omaha; Retirement Plan Consulting; 1
employee
Ohio – Cleveland; Retirement Plan Consulting; 1
employee
Oregon – Portland; Retirement Plan Consulting; 4
employees
Texas – Austin; Retirement Plan Consulting; 2
employees
Texas – Dallas; Corporate Operations Resources,
Retirement Plan Consulting and Private Wealth
Management; 17 employees
Texas – Fort Worth; Retirement Plan Consulting; 3
employees
Texas – Houston; Retirement Plan Consulting; 1
employee
Tennessee – Knoxville; Retirement Plan Consulting and
Private Wealth Management; 18 employees
Virginia – Richmond; Retirement Plan Consulting; 14
employees
Washington – Seattle; Retirement Plan Consulting; 3
employees
Wisconsin – Milwaukee; Retirement Plan
Consulting; 1 employee

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C10 What services would specifically be The full scope of work is going to be performed by
provided by which office location for this Jake O’Shaughnessy, one of our National Practice
account? Leaders for Government Markets. Jake is based in
our Portland, OR office.Addition dedicated experts
are available to the County, should specialized
services / projects be required. We have national
resources in various specialties (non-qualified
plans, fiduciary process, vendor benchmarking,
compliance, etc.). We have the following
resources available to our clients:• National
Investment Committee• Actuarial
practice/expertise• PersonalSAGE Financial
Coaches for employee and participant education•
Executive Financial Planning • Advisory Services
Team – expertise in deliverables such as
IntegrityIRA and SageView Personalized Portfolios
(“Advisor Managed Accounts”)• Vendor RFP Team
– maintains relations with all vendors and
conducts vendor benchmarking projects for the
firm• Compliance Consulting Team• Practice
Management Team – Responsible for business
operations such as pulling together data and
running plan design and fee benchmarking
reportsSageView has a comradery and synergy
among all offices that is not often found in our
industry. Insights and information are shared daily
among our professionals, so when you hire
SageView, in some respects, you enlist the
collective wisdom and technical experience of our
entire firm. Additionally, we’ve learned from client
feedback surveys that one of the key reasons why
we’re initially hired, and why clients stay with us,
is the personality fit of our service team members.
Our clients truly enjoy working with us and we
enjoy working with them.
C11 What is your firm's fiduciary SageView is registered as an RIA with the SEC
classification (bank, insurance company, under the Investment Advisers Act of 1940. We
Registered Investment Advisor have provided our Form ADV Parts I & IIA as
(Investment Advisors Act of 1940), Exhibit E.
affiliate of fiduciary (provide name and
classification), other - explain)
C12 Describe any current, pending, settled, None.
or threatened litigation or
administrative actions against your firm.
C13 Provide the levels (U.S. dollar amounts) SageView currently carries a per claim and
of coverage for fidelity bonds, errors and aggregate limit of $10 million in E&O coverage,
omissions coverage, and any other held with Wesco Insurance Company and Crum &
fiduciary coverage which your firm Forster Specialty Insurance Co. We also carry an
carries. List the insurance carriers aggregate of $25 million in an ERISA Bond, held
supplying the coverages. with Hartford Fire Insurance.

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C14 Have there been any material changes No.
to the firm’s fidelity bond or fiduciary
insurance in the last five years?
C15 Disclose your firm's sources of revenue. 62% of our firm’s revenue is derived from
Include the percent of revenue from retirement plan investment advisory services, and
investment advisory and consultation the remaining 38% is derived from individual
services compared to all other sources private wealth management.
of revenue.
C16 Provide a description of your firm’s SageView’s professional staff are W-2 salaried
compensation arrangements for senior employees. Compensation is aligned with the
management including incentives, profit goals of our clients, and determined based on a
sharing, and other bonuses. host of metrics, the most important being client
retention, client satisfaction and job performance.
C17 What was your firm's client turnover in 2022
terms of number and percent of clients 360 Clients and 23% Gained
each year for the past three (3) years? 13 Clients and <1% Lost
___________Number and _____%
Gained 2021
___________Number and _____% Lost 235 Clients and 20% Gained
14 Clients and 1% Lost
2020
71 Clients and 7% Gained
8 Clients and <1% Lost
Please note that we acquired several books of
business in 2021 and 2022, which contributed to
our accelerated growth. The above number of
clients lost nationally choose to work with another
advisory firm. As you might expect, there were
additional clients that chose to terminate their
plan or who were purchased by another
organization and merged their plan into the
acquiring company’s program, however those
decisions are out of our control.
C18 Provide total number of clients and As of June 30, 2023, we provide consulting
assets under care from clients similar to services to 137 Governmental 457(b) plans with
Maricopa County (i.e., Governmental $6.9 billion in assets under advisement (“AUA”) ,
457b, $660m in assets, 12,000 active 56 plans with $500 million - $1 billion in assets
employees) at your firm. totaling $37.4 billion in AUA, and 30 plans with
10,000 – 20,000 active employees.
I1 Describe your investment consulting Since our inception over 30 years ago, SageView
philosophy as it applies to defined has been focused on providing independent and
contribution plans, particularly plans of unbiased investment advisory and consulting
public sector sponsors. services to governmental retirement plan
sponsors as a partner to both their fiduciary
responsibilities and serving the needs of plan
participants. In working with over 1,600
retirement Plan Sponsors across the United States,
our expertise is not limited to investments; but we

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are true retirement plan experts and fiduciary
partners. We enjoy partnering to accomplish client
objectives in retirement plan operations, cost
benchmarking, plan design, employee
education/advice, investment due-diligence and
overall fiduciary plan governance and risk
management. Furthermore, our knowledge and
experience with the recordkeepers which tend to
serve governmental Plan Sponsors, including your
incumbent Nationwide Financial, are
unmatched.Our mission is to be known as the
advisor of choice for plan sponsors who desire to
engage with their associates to ensure a
comfortable retirement. Our vision is helping our
clients “see where they are going” by synthesizing
the complexities of plan sponsorship in order to
ensure fiduciary duties and participant needs are
met to the highest standard because SageView
CARES:• Clarity – Operating, communicating and
delivering transparent solutions• Authenticity –
Earning trust through empathy, humility and
loyalty• Resourcefulness – Bringing the right
people, processes and capabilities to every
situation• Excellence – surpassing expectations
while building purposeful, lasting relationships•
Service – Who we are and what we doInvestment
Manager Research is a core focus at SageView,
especially since it is all done in-house. The breadth
and size of our client base requires that we stay
educated and knowledgeable about all asset
classes. Our philosophy is based on finding
managers who can execute their investment
strategy consistently and thereby minimize style
drift within their portfolio. We favor managers
with stable, long-term track records rather than
those who hit occasional home runs. In our
research, we want to learn why an investment
manager performed well and whether they have a
repeatable investment strategy that gives them a
competitive advantage. When appropriate, we try
to find those “diamond in the rough” managers
who may have been overlooked by the investment
community. As our skill and experience continue
to evolve, we re-evaluate our processes and
enhance our philosophy to ensure that both
remain dynamic and consistently improving.
I2 How would you implement this In order to help our clients not only meet their
investment consulting philosophy at fiduciary responsibilities, but also create best-in-
Maricopa County? class Deferred Compensation Plans, SageView will
continue to take a comprehensive investment
consulting approach with Maricopa County. We

SERIAL 240026-RFP
want to know what the County’s priorities are and
see those implemented and reflected where
appropriate in the Plan. This Plan is a tremendous
benefit which the County offers to employees, and
we aim to have all parties appreciate the value of
the Plan to them. In the future, SageView will help
to reduce fees and maintain a prudent set of
investment options. However, increasingly aspects
such as employee wellness, cybersecurity, and
employee retention/attraction may require some
elements of the deferred compensation plan.
These types of innovative and effective ‘outside
the box’ plan solutions are challenges which
SageView welcomes.
More specific to our focus on Investment Manager
Research, we employ 37 investment professionals
who contribute to investment research across four
main disciplines: (1) manager research, (2) asset
allocation, (3) asset/liability modeling, (4)
discretionary portfolio management, and (5) cash
balance. Each of these disciplines correspond to a
standing sub-committee to the SageView National
Investment Committee (“IC”). The National IC
comprises 21 investment professionals and
presently includes six CFA Charterholders and five
CIMA certificants. To facilitate effective and timely
decision making, seven members of the IC are
designated as voting Board Members at any given
point in time. We have provided the organizational
chart for our National IC as Exhibit F.
SageView’s Manager Research Team consists of 19
investment analysts who divide research coverage
assignments along investment category lines. The
lead analyst in each category is responsible for
performing ongoing due diligence for covered
investment strategies in that space. Lead analysts
are also responsible for coordinating with the sub-
committee Chairman to periodically conduct new
manager searches and ensure that all requisite
due diligence steps are followed in the manager
evaluation process.
Our internal Investment Committee has
established an annual rotation to perform onsite
visits of many investment managers at their home
office. The goal is to visit each of the investment
managers on our select list at least once every two
years. Also, based on the size and the national
presence of our firm, we do meet with many

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portfolio managers more frequently. Information
from each of these meetings is documented and
circulated to all service teams nationally, who then
disseminate the information to Committees /
Boards at meetings.
I3 Describe any services your firm provides SageView is one of the only firms in the industry
that might not be offered by other that is truly independent with a business model
investment advisory firms. structured to serve the distinct needs of
retirement plan committees and employees.
Below are several examples of how we’ve
continued to innovate and focused our investment
to increase capabilities and resources for
retirement plan participants over the last five
years:
• Fiduciary Training Program to enhance
Committee understanding of fiduciary
responsibilities
• Dedicated RFP and Plan Benchmarking Practice
Team that oversees over 100 vendor RFPs
annually, giving us unique insight into market
trends and pricing
• Exclusive Investment Manager Relationship
Pricing – negotiating lower investment fees for our
clients than are otherwise available in the
marketplace
• Personalized Portfolios Technology (Advisor
Managed Accounts, “AMA”) as we continue to see
the trend of using data to create more refined and
tailored allocations by participant to improve
retirement readiness
• PersonalSAGE Wellness Program – provides
meaningful and personal engagement to
employees working with a financial coach to
provide independent advice without any
proprietary product push branded and offered by
the employer as an integrated service under the
retirement benefit program
• De minimus Account Risk Mitigation –
IntegrityIRA, shifting the responsibility of
accounting for “lost participants”
In addition, the investment and development of
proprietary analytics technology at SageView is
driven by our National Investment Committee. As
members of the Committee interact and work
directly with clients in offices around the country,
we believe such client knowledge coupled with
investment expertise offers a more robust and
objective development framework, free of
conflicts often inherent when acting as the

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investment platform and advisory firm.
Our approach results in innovative tools that meet
the real-world needs of clients facing a
continuously evolving fiduciary landscape. Some
examples include:
• Best Fit Target Date Selection Tool (uses plan
design and demographics to forecast retirement
readiness)
• Stable Value Tool (follows a due diligence
process that is consistent in nature but also
recognizes the unique differences between the
different stable value product structures)
• Online Fiduciary Training Modules
I4 Describe your firm's fund performance To evaluate investment funds and managers,
measurement and analytics process. we’ve developed a proprietary scoring
methodology used exclusively for retirement plan
clients. The SageView Scoring Methodology is
comprised of a detailed quantitative analysis
consisting of performance, ratio, style and
expense metrics. In determining the success of a
fund, it is crucial that all data is viewed in context
to the other funds within a category, as various
asset classes can perform differently at any given
time. For that reason, a fund is given a peer group
ranking in each quantitative metric, shown as a
percentage from 1% to 100%. As an example, a
ranking of 10% indicates a fund is in the top 10%
of its peer group for said quantitative metric.
The rankings for all criteria are then weighted to
give a fund its average ranking score, the lower
the average ranking score, the better. If a fund
scores 50% or higher, it is placed on the watch-list,
and after 4 consecutive quarters on the watch-list,
it is subject to replacement. While the scoring
methodology is solely based on quantitative
metrics, a fund may be placed on the watch-list
due to qualitative factors as well.
We use the quantitative screen and past
performance as a guide to help us identify
managers who are worthy of additional qualitative
analysis. Several qualitative criteria and possible
warning signs are monitored that highlight a
fund’s potential exposure to risk that may make it
unsuitable as a retirement plan investment option.

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I5 What publicly available databases do To the greatest extent possible, SageView uses
you use when measuring performance? well-vetted public sources (such as Morningstar
Direct, FactSet and Envestnet) to gather data on
managers’ investment performance, and compiles
this performance data in a centralized, national
database.
SageView never bases our investment
recommendations solely on quantitative factors;
we consider both quantitative and qualitative
elements. Our qualitative manager reviews
typically include review of written proposals,
teleconferences with the portfolio manager or
management team, and, often, an on-site
interview with the manager. While this qualitative
review can’t insulate clients perfectly from the risk
of misstated performance, our process of relying
first on public sources for performance, then on
GIPS verified performance, always overlaid with a
qualitative review means that the chance one of
our clients makes an investment decision based on
invalid performance reporting is exceptionally low.
I6 What type of custom performance A typical quarterly report contains the following
analytics reporting capabilities can you information:
provide?
• Market Commentary - Provides an analysis of
the overall economy and examination of various
equity and fixed income markets.
• Industry Update - An update on significant
legislative, regulatory, and litigation developments
that affect the retirement plan industry.
• Investment Summary - Includes fund returns
against benchmarks and our quantitative
assessment scores, qualitative comments,
watchlist, and recommendations.
• Portfolio Summary - Summarizes the plan
against weighted average passive index
benchmarks and weighted average category
benchmarks. The weighted average fund expense
is compared to the custom category weighted
average expense and averages for the plan’s size
cohort.
• Detailed Fund Analytics – Provides supporting
quantitative detail for each investment option
against peers including risk and return
characteristics.

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• Fund Comparison – Side-by-side analytics for
any fund replacement recommendations.
• Appendix – IPS analysis criteria and investment
glossary.
The performance reports are prepared quarterly
and are typically available 30 days after the end of
the quarter online through our fiduciary portal.
We have provided the County’s most recent
investment review as Exhibit G.
I7 Describe the performance attribution We utilize quantitative criteria outlined in our
services you offer. SageView Scoring Methodology and qualitative
criteria to review funds. SageView’s performance
reports are prepared by our administrative staff in
conjunction with the service team that will
support the Committee. We have provided more
details on our SageView scoring criteria in
response to question M6.All reports are created
utilizing our customized proprietary reporting
software, which allows us to customize our reports
to meet our clients’ needs (within reason). Some
examples include altering benchmarks, executive
summaries, manager cash flows, and plan cash
flows.
I8 Are your performance attribution Our SageView Scoring Methodology is a
services based on internally captured proprietary performance attribution solution
information, or do you subscribe to an which has been internally created and used by
outside vendor’s service? SageView.
P1 Describe your experience and approach As a Co-Fiduciary, helping our Plan Sponsors
in developing investment policy and create their Investment Policy Statement (“IPS”) is
objectives for a defined contribution a foundational element to prudent 457 Plan
plan. oversight. SageView’s extensive industry
experience and our collaboration with some of the
country’s top legal resources have led to the
development of a very robust Investment Policy
Statement (“IPS”) template that is reviewed on an
annual basis as part of SageView’s audit for the
CEFEX certification. The guidance and limitations
set forth our IPS are designed to protect the
County by clearly defining the plan objectives and
processes followed by the Committee, as well as
outlining the broad criteria used to make decisions
related to removing or replacing investment
options, and the addition of appropriate asset
classes if needed. The IPS provides a framework
for investment selection but is not overly
restrictive given the changing economic, business,
and capital market conditions. Its objectives
should be both sufficiently specific to be
meaningful, and flexible enough to be practical. In

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customizing the model IPS for a client, we also
believe there needs to be a firm understanding of
specific client nuances, such as employee
demographics and the employees’ varying levels
of sophistication. Although we’ve developed the
template discussed above, we have worked closely
with Maricopa County and your counsel to jointly
develop and update the Maricopa County IPS as
we did in 2021. By periodically working with you to
review and modify your current IPS, we will help
to ensure that the Committee and the Plan(s) are
following what is currently deemed as appropriate
fiduciary guidelines for 457 and PEHP Plans such as
those overseen by Maricopa County.
P2 Describe your process for analyzing a SageView adds values in several ways: 1)
plan’s investment structure and for encouraging a diversified portfolio that maximizes
recommending modifications to the risk adjusted returns and benefits from higher
investment policy. return asset classes such as equities, 2)
recommending low-cost index funds that minimize
costs, 3) our investment research process that,
when appropriate, allows us to recommend low-
cost active fund managers that have
demonstrated the ability to outperform. SageView
explicitly recommends against strategies that are
proven to be counterproductive such as market-
timing or investments in complicated, expensive,
or illiquid investments such as hedge funds,
derivatives, or commodities funds.
Our process for selecting a fund manager starts
with a search at the national level through our
internal Investment Committee, who regularly
interviews managers for potential inclusion on the
list of strategies that are approved for use with
SageView clients (the “Select List”). The Select List
encompasses a variety of investment disciplines in
any given asset class as not become overly
concentrated toward a single investment style. For
typical searches, we use a series of quantitative
and qualitative screens (which include SageView
rankings, fund expenses, asset bases,
concentration levels, manager tenures, and
others) to develop a broad list of strategies and
ultimately narrow down the list to 10-15 viable
candidates.
The next step is to analyze the investment styles of
the remaining candidates and use the findings to
filter the group further to 8-9 managers. The sub-
committee will send RFIs to this group of
managers, and based on the quality of the

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responses, interviews are conducted with the 6-7
managers selected as finalists. In the end, the
subcommittee makes a recommendation of 4-5
strategies for approval by SageView’s national
Investment Committee, concerning the funds that
should be approved for client use. Over the past
three years, SageView’s Research Team has
completed manager searches for 14 investment
categories on the firm’s approved list.
Manager selection is dependent upon a number of
factors. Some of the more important factors
include:
• Above average performance versus benchmark
index/peers over an extended period of time
• Below average risk levels versus benchmark
index/peers over an extended period of time
• Above average Sharpe Ratio, Alpha, Information
Ratio versus benchmark index/peers over an
extended period of time
• Above average Upside Capture Ratio and below
average Downside Capture Ratio versus
benchmark index/peers
• Avoidance of high concentrations in sectors or
small number of individual holdings
• Consistence style
• Strong research team supporting manager
• Below average fees versus peers
• No material SEC or DOL regulatory issues with
manager’s firm
P3 Describe the way you assist defined Performance of investments is monitored on a
contribution plans in monitoring daily basis and typically reviewed with the
investment policy, strategy, and asset Committee on a quarterly basis. Our internal
mix. investment Committee reviews all of our client
lineups and SageView will make recommendations
to the Committee regarding replacements if
necessary, based on the criteria set in the IPS.
Investment policy guidelines, as documented in
your IPS, will be reviewed, monitored, and
updated on an annual basis. We recommend each
Committee member sign the IPS to acknowledge
their adoption of the policies and procedures
spelled out in the IPS.
P4 What does your firm consider to be the A well-crafted Investment Policy Statement should
most critical items in an investment include the following elements:
policy for a defined contribution plan?
1. Description of the purpose and general
investment objectives of the plan.
2. Identification and allocation of responsibilities
among the fiduciaries and other parties

SERIAL 240026-RFP
responsible for selecting, monitoring, and
managing plan investments.
3. Description of the asset classes of investment
options to be offered, and specific factors and
criteria for selecting investment options, such as
risk and return characteristics, expenses, and
benchmark comparisons.
4. Description of standards for investment
performance and criteria for measuring
performance.
5. For plans with participant directed investments
that intend to comply with Section 404(c):
Statement that the plan intends to comply: list of
the investment options offered under the plan and
the asset classes for each option, description of
the methods and criteria for selecting options,
including fees, and for monitoring and replacing
funds, if necessary, investment education and
other information offered to participants in
connection with investment options, any
restrictions on particular options, and the process
and standards for selecting a qualified default
investment arrangement.
6. Description of the methods and criteria for
selecting, monitoring, and if necessary, replacing
plan investment service providers.
7. Description of standards for accounting for and
managing investment expenses.
8. Description of how often investment
performance will be reviewed and the review
process (including the use of outside investment
consultants)
M1 Describe your experience and From a national research perspective, SageView’s
capabilities in conducting searches for Investment Committee includes 20 individuals
mutual fund managers as well as a who are charged with sourcing and conducting
stable value fund manager. ongoing due diligence on investment managers.
The culmination of these efforts is the production
and maintenance of a list of recommended
investments strategies that we refer to as
SageView’s Select List. The Select List currently
comprises roughly 130 strategies across various
investment categories and asset classes. Select List
strategies must meet rigorous qualitative and
quantitative requirements and represent
strategies that we believe are best positioned to
deliver compelling risk-adjusted returns for clients
in the future.
When our clients conduct individual manager
searches, our advisors will normally present
several options that span various investment

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styles and risk appetites. Our advisors’ objective is
to provide clarity to plan sponsors, so they are
sufficiently well-informed to make investment
selection decisions and to help set ongoing
performance expectations for any selected
strategies.
We evaluate/benchmark guaranteed
income/stable value products on a quarterly basis
in our performance reports. Similar to other
investment strategies, we review the stable value
fund performance, risk, and expenses on a
quarterly basis, and we will note market to book
value, bond duration and any notable changes in
the underlying portfolio annually. However, when
examining a stable value fund, we also analyze
several additional factors beyond more common
equity/bond funds, including the number of
insurance providers, duration of the income
portfolio, ratings and liquidity restrictions.
Furthermore, the Sageview team is extremely
familiar with current nature of your Stable Value
portfolio and the Committee’s stated interest in
considering alternative strategies in this space. We
look forward using SageView’s expertise in the
Stable Value arena to assist the County with the
evaluation and decision-making for your Stable
Value Fund in the future.
SageView follows a due diligence process in the
stable value category, which is consistent in
nature, but also recognizes the unique differences
among the major stable value product structures
(e.g. Stable Value Fund vs. Fixed Account). If we
encounter any points of concern as we undergo
our due diligence process, we will present these
concerns to the sponsor at the next investment
review meeting along with a recommended action
for the Committee (i.e., place on the Watch List,
replace with another option, etc.). We are always
respectful of the fact that plan pricing
arrangements are oftentimes contingent upon
stable value selection. In the event that we find it
necessary to recommend a fund replacement due
to quantitative or qualitative concerns, we always
accompany our recommendation with a thorough
cost-benefit analysis of the change.
We have provided an overview of our stable value
process as Exhibit H.

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M2 Describe your experience and We believe that alternative investments have the
capabilities in conducting searches for ability to provide diversification benefits to an
alternative assets in deferred investment portfolio that is anchored in traditional
compensation plans. financial assets. When evaluating alternative
strategies, Committees and their consultants
should measure the risks, benefits and costs of
inclusion within a portfolio. Furthermore, the
underlying components of the non-traditional
asset class should also be evaluated in order to
understand the extent to which they overlap with
the existing investments. SageView typically
performs due diligence on each asset class and
possible investment managers to review overlap.
SageView also evaluates the underlying
components to ensure that there are no
undesirable liquidity constraints placed on the
portfolio that would inhibit its ability to meet
liability obligations.
SageView initially evaluates alternative investment
options in a similar fashion to that of a traditional
asset class. We use our proprietary quantitative
scoring criteria to develop an initial screen, then
perform qualitative due diligence on the
investment manager to determine our comfort
level with the investment process, procedure, risk
controls, and execution of the investment
philosophy. Alternative asset classes require
additional due diligence on such factors as
transparency, liquidity constraints, concentrations
in a few investment ideas, independent audits,
and personnel review. On-site visits to an
alternative investment manager are critical to this
process. Only after these factors have been fully
vetted and meet IPS guidelines will an alternative
strategy be considered for possible addition. After
this is accomplished, we will model the portfolio
before and after the inclusion of an alternative
strategy to ensure that a benefit is gained.
M3 How many searches for alternative N/A. We do not formally track this information.
assets have been conducted for clients
with more than $500 million in assets
during 2021 and 2022?
M4 Do you maintain your own database of While SageView’s research and reporting tool is
funds/managers? proprietary, SageView utilizes outside sources
such as Morningstar to maintain our database of
funds/managers. Like the majority (if not all) of
other consulting firms in the retirement market,
SageView does not maintain its own investment
manager database. Performing this task internally
would be incredibly expensive and would not add

SERIAL 240026-RFP
any value to our practice, nor to our clients. Our
added value and is in evaluating managers, rather
than trying to figure a better mouse trap to keep
track of them. Instead, SageView relies on
Morningstar to provide us with various data points
on investment managers. In certain instances, we
may create custom peer groups, but for the most
part we rely on Morningstar’s investment manager
database.
M5 How many funds/managers do you SageView’s research and reporting tool is
track? proprietary and was developed in-house
exclusively for SageView. We feed our database
with information from Morningstar to enable us to
review more than 1,800 managers and over
35,000 individual strategies including mutual
funds, separate accounts, and CITs covering all
assets classes, from money market to hedge
funds. This data includes performance, holdings
and current fund operations statistics, such as
manager tenure and expense ratios.
M6 What criteria do you use in evaluating To evaluate investment funds and managers,
funds and managers? we’ve developed a proprietary scoring
methodology used exclusively for our retirement
plan clients, known as our ‘SageView Scoring
Methodology’. Please see below for the criteria we
hold our funds to through this methodology:
Quantitative Screening
Utilizing our scoring system, we are able to rank all
mutual funds and separate accounts (with a
minimum 3-year track record) in the Morningstar
database. Each manager is compared to its
respective category peer group. Our scoring
system is based on nine metrics:
• Trailing 1, 3, 5 and 10-year returns – Total return
is the most basic measure of a fund’s
performance, and investors tend to focus more on
total return than any other measure of a fund’s
success or failure. The formula for these criteria is
based on a 15% weighting of the 1-year return,
25% weighting of the 3-year return, 45% weighting
of the 5-year return and 15% weighting of the 10-
year return. Should the fund lack a 10-year track
record, the weighting is adjusted to
15%/30%/50%, respectively, for the 1-year/3-
year/5-year returns.
• Rolling 12-month returns (60 months) – The use
of 12-month rolling returns serves to minimize the
problem of end-point sensitivity. In order to score

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well, a manager must consistently outperform his
peers in a variety of market cycles, not just the
most recent one.
• Batting Average (120 months) – Batting average
communicates the frequency with which a
manager outperforms his/her peer group. It is
complementary to the rolling return statistic in
measuring performance consistency. Unlike rolling
returns, which measure overlapping periods and
which account for the magnitude of any under- or
outperformance, batting average considers
discreet monthly periods and is only concerned
with whether a manager underperforms or
outperforms in each period.
• Sharpe Ratio (36 months) – Sharpe Ratio is the
measure of a fund’s risk-adjusted performance. It
is used to determine how much additional return
an investor would have received for the extra risk
the portfolio manager took to achieve that return.
The Sharpe Ratio is calculated by dividing the
annualized return in excess of the risk-free
Treasury bill by the standard deviation for that
same time frame. The Sharpe Ratio is an excellent
measure in determining if an investor is rewarded
for taking on additional risk.
• Alpha (60 months) – Alpha is used to determine
how much extra return is being received from the
skills of the fund manager. Alpha compares the
extra return being generated by a fund over and
above the expected return of a fund based on the
fund’s sensitivity to an index’s movement. For
example, if an appropriate benchmark for a fund
increased 10%, we would reasonably expect the
fund to increase a certain percentage based on the
sensitivity of the fund to the index (beta). If the
index return was 11% and the fund increased 12%,
the extra 1% would be considered the alpha
generated by the manager.
• Up Capture Ratio (120 months) – The Up Capture
Ratio measures the percentage of return of an
index a fund will capture during up market cycles.
It is important to know whether funds are
matching or exceeding the appropriate index
when the market is going up.
• Down Capture Ratio (120 months) – The Down
Capture Ratio measures the percentage of return

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of an index a fund will capture during down
market cycles. Funds that have good downside risk
capture will tend to reduce losses for investors
during bear markets. Down capture is a critical
factor in the performance of a fund. For example,
if a fund went down 10% in one year, it would take
a return of over 11% in the following year to get
back to even. This would compare favorably
versus a fund that lost 25% during the same
period, as this fund would then have to gain 33%
to simply get back to even. The ability to reduce
the downside risk can help the overall
performance of a fund over the long term.
• Style Consistency to the appropriate index – It is
important that a fund’s style is consistent with its
investment goals and expectations. The style
purity of a diversified portfolio is dependent on
the securities within that portfolio staying
reasonably close to their expected styles. We
don’t want to have large cap value funds investing
in, and behaving like, mid cap growth funds. R-
squared measures how closely a fund’s
performance mirrors that of its target benchmark.
After each fund is ranked against its peer group
based on the metrics mentioned above, the
rankings from each metric are weighted and
combined to achieve the SageView Score. Every
fund in a category receives a score. It is then
determined in which quartile a fund falls against
its peers for that category.
We use the quantitative screen and past
performance as a guide to help us identify
managers who are worthy of additional qualitative
analysis. These firms are then asked to complete
our investment manager questionnaire, formally
known as the Request for Information (RFI), for
additional evaluation.
Qualitative Analysis
To maintain consistency in our evaluation process,
we developed questionnaires for each one of the
major asset classes. At this point in our process,
we ask our candidate manager to fill out our
questionnaire, which gathers more detailed
information about them. The questionnaire
focuses on things like investment team,
philosophy, and process, as well as operations,
compliance, and risk controls.

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Qualitative factors are often more opaque than a
SageView Score, but may still serve as a warning
sign of an investments potential for risk exposure.
The factors that SageView monitors, include, but
are not limited to:
• Portfolio concentration among individual
holdings
• Portfolio concentration among economic factors
• Above-average volatility
• Above-average portfolio turnover
• Significant positive or negative cash flows
• Poor public perception/headline risk
• Changes or concerns with firm
structure/ownership
• Changes to corporate management or key
investment personnel
• Changes to investment strategy/process
After we have received the completed
questionnaire and reviewed it along with other
research we have performed, we analyze this
information for any red flags that may stand out
and eliminate the manager from our
consideration, if necessary. If we find no major
concerns during our analysis, we schedule an
interview with the manager or a fund professional
who is knowledgeable about the strategy.
M7 Does your firm use a 'watch list' or other Yes. SageView has a very distinct and well defined
device and what steps are taken to ‘watch list’ process.
trigger that designation, and what steps
are taken following that designation? Investment Watch List Process
At SageView, each fund is given a quartile ranking
in our proprietary quantitative evaluation process.
We recommend any fund that scores in the third
or fourth quartile be put on the Watch List. In
addition, funds may be put on the Watch List at
any time based on any one of several qualitative
criteria, including manager change, analyst
turnover, cash flow, style drift, and philosophy
changes. The Meeting Minutes will note the fund
has been put on the Watch List and SageView will
update the Committee on the fund at the next
meeting. Each subsequent quarter, we will discuss
the findings to decide on keeping or replacing a
fund.
If a fund is placed on the Watch List for
quantitative (objective) reasons, it would be
removed from the Watch List after its score

SERIAL 240026-RFP
improves to the 2nd quartile or better for a
minimum of four quarters in a row. SageView will
maintain a fund on the Watch List, even if the fund
score improves that quarter, in order to prevent
moving a fund onto and off of the Watch List in
consecutive quarters. For funds that are placed on
the Watch List for qualitative (subjective) reasons,
SageView’s internal Investment Committee will
review the issue each quarter to determine if any
disruption has occurred due to the issue, and to
ensure we are confident that no further disruption
will occur going forward. Once this is established,
SageView will recommend removing a fund from
the Watch List.
Termination Recommendation Process
If a fund remains on the Watch List for four
consecutive quarters, or if the fund’s SageView
Score falls into the fourth quartile at any time, and
it’s determined that firing the manager is the
prudent solution, SageView will provide the
Committee with an analysis comparing the current
fund to alternative options and make a
recommendation if acting as a non-discretionary
fiduciary advisor. If acting as a discretionary
investment manager, SageView will make the fund
replacement and notify the Committee of the
decision and process followed at the Committee
meeting.
In addition to the quantitative reasons to which a
manager may be terminated, there are also
qualitative factors that are taken into
consideration. If we are made aware of any
portfolio manager changes, fund company
reorganizations, philosophy/strategy changes, or
extreme fund outflows, we will also conduct a
thorough review at that point as well. If the
Committee determines that the strategy has
meaningfully changed or is no longer filling the
mandate that it was intended to, we will provide
alternate fund options for review.
Once a decision is made, SageView will work with
the plan provider to ensure all necessary steps,
including employee notification, are done in the
proper time frame. During the replacement
process, all assets in the fund to be removed
would be automatically mapped over to the new
investment option as of a specific date. To stay in
compliance with industry and legal standards, all

SERIAL 240026-RFP
employees of the plans will receive a notice
explaining their alternatives at least 30 days
before this transaction takes place.
M8 How do you verify information used to To the greatest extent possible, SageView uses
evaluate funds/managers? well-vetted public sources (such as Morningstar
Direct, FactSet and Envestnet) to gather data on
managers’ investment performance, and compiles
this performance data in a centralized, national
database.
Your team will ultimately select investments from
our Select List, which is vetted by our National
Investment Committee.
M9 How often are funds/managers in your All Morningstar data is updated monthly.
database visited, reviewed, or their data
updated? SageView’s Manager Research team leads all
qualitative and quantitative research that is
disseminated to our clients as part of our quarterly
investment reviews. The category lead for the
asset class is charged with monitoring the
investment team, philosophy, and process, as well
as operations, compliance, and risk controls for
investment fund managers in their category. The
category lead is charged with setting up calls with
relevant investment personnel from all strategies
where our clients have exposure and provide
updates to both our internal Investment
Committee and our clients as there are qualitative
or quantitative concerns. If a fund is flagged
qualitatively, we will draft a memo that will be
reviewed with all clients utilizing the fund.
M10 What fees or other considerations do SageView has no limits on inclusion of a manager
you receive from managers who wish to in our database and there is no fee to be included
be maintained in your database? in our database. SageView does not sell our
database to any other parties.
S1 Describe your methodology for SageView follows a due diligence process in the
analyzing and monitoring the Stable Value category which is consistent in nature
diversification or allocation of assets in a to that we follow for other asset classes, but also
stable value fund. recognizes the unique differences and nuances
amongst the major stable value product
structures. We are very familiar with the key
differences among Traditional Guaranteed
Investment Contracts (GICs), Separate Account
GICs, as well as pooled stable value funds, which
are typically composed predominantly of Synthetic
GICs. Depending upon the specific client situation,
we may also review more customized solutions.
During this exercise, SageView reviews the
potential benefits and drawbacks of each
approach including which will typically offer the

SERIAL 240026-RFP
most compelling crediting rate and which entails
the least amount of insurer credit risk. We will
work with Maricopa County to pragmatically help
establish the priorities for your Plan’s stable value
investment (security of principal, creditworthiness
of wrap issuers, competitive yield, etc.), and this
will inform our decision as to which approach or
combination of approaches is most well-suited to
the needs of the Maricopa County Plan and
Participants. We will then document this exercise
with supporting materials and in the meeting
minutes. Our Stable Value Fund due diligence
process generally consists of four key steps:1.
Performance and Fee Review: We review fund
performance and fees in order to assess whether
participants are being adequately compensated
given the fund’s inherent level of risk.2. Market-
to-Book Value Assessment: A fund’s market-to-
book ratio tells us how many dollars of assets are
actually backing every dollar of participant
guarantees at the portfolio level. In today’s rising
interest rate environment, most if not all stable
value funds market-to-book ratios are below
100%. While the absolute number is helpful, it is
also important to track this figure over time in
order to develop a sense of the fund’s risk (i.e.
volatility) relative to its liabilities.3. Portfolio
Review: Since the portfolio itself serves as the first
line of defense for most stable value funds in
meeting participant redemptions, we spend the
bulk of our research efforts reviewing various
aspects of the bond portfolio. A portfolio’s
duration is helpful in assessing a fund’s sensitivity
to rising interest rates, while a breakdown of its
credit quality and sector exposures can help alert
us to unintended risks. 4. Insurer/Wrap Contract
Review: Insurance companies and/or wrap
providers are the ultimate guarantors of stable
value funds in the event that portfolio assets are
exhausted. As such, we continually monitor the
weighted average quality of stable value fund
wrap contracts apart from the credit quality of the
portfolio. Furthermore, also assess the fund’s
single-insurer risk and monitor this trend over
time.If we encounter any points of concern as we
undergo our due diligence process, we will present
these concerns to the sponsor at the next
investment review meeting along with a
recommended action for the Committee (i.e.,
place on the Watch List, replace with another
option, etc.). We are always respectful of the fact

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that plan pricing arrangements are oftentimes
contingent upon stable value selection. In the
event that we find it necessary to recommend a
fund replacement due to quantitative or
qualitative concerns, we always discuss this
decision in detail with the Committee and
accompany our recommendation with a thorough
cost-benefit analysis to the Plan of any potential
change to the Plan’s Stable Value option.
S2 Describe the approach and benchmarks In determining investment benchmarks such as
used to compare and evaluate stable the ICE BofA US 3m Treasury Bill, SageView
value fund performance. considers several factors. First, we will utilize R-
squared measures as well as a correlation to the
benchmark to appropriately classify the fund along
with the category assigned by Morningstar.
Additionally, each fund will indicate within its
prospectus which benchmark(s) it will be using
internally. The leadership of the fund will be
focused on this stated benchmark, and often will
be compensated based on the fund’s performance
versus this benchmark. In addition to the
prospectus benchmark, we also use industry
standard benchmarks from Russell, S&P, MSCI,
and others to accurately benchmark the plan
options.
SageView also builds custom benchmarks for
Stable Value funds, typically based on unique
investments. We can do this utilizing debt to
equity ratios, asset-class allocation, or a
combination of both. Also, we can employ a
returns-based regression analysis to determine a
benchmark that most closely resembles the results
of the fund. SageView typically builds custom
benchmarks for our clients’ investment portfolios
in order to measure performance more accurately.
SageView recognizes that style or peer group
benchmarks can be either chosen from outside
sources or developed internally. We tend to
benchmark the performance of a fund to both an
index and the category average of a fund’s peer
(or style) group.
As noted above we have a specific process that we
follow when creating custom Stable Value
benchmarks but are open to discussing any
specific solutions that the County may request.
Each quarter, we will benchmark all investments in
the plan against investments in the same asset
class (also scored in our analysis) along with

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calculating the weighted average expense ratio of
all investments in the plan and benchmarking that
against the weighted average in each category.
Annually, we will perform an in-depth fee review
and analysis of the funds, including a share class
analysis.
S3 Describe your approach for Capital preservation funds such as stable value
selecting/recommending other stable funds, money market funds, or other cash
value fund options such as money equivalents are generally considered the
market funds, cash equivalents, and/or conservative, or least risky investment option for a
other comparable products. Plan’s participants, exhibiting lower return and
volatility than the other investment options in the
lineup. Despite this categorization, evaluation of
the available Capital Preservation options for a
Plan to choose from may be quite complex. A
number of factors must be considered when
selecting a capital preservation fund for inclusion
in an investment line-up. These factors include but
are not limited to net participant crediting rate,
liquidity restrictions (for both Plan Sponsor and
Plan Participants), market-to-book ratios, portfolio
credit quality amongst others. In addition,
recordkeeper platform availability and plan pricing
may also factor into the selection process.
Consistent with our process described herein,
SageView conducts quantitative and qualitative
due diligence, including manager interviews when
evaluating these categories. Our Research Team
and national IC review Stable Value products,
approving or rejecting each for inclusion within
our client’s portfolios. Further, as public
information is generally more difficult to obtain on
stable value and fixed accounts, SageView
requests additional quarterly quantitative and
qualitative data from our approved managers,
which is utilized to generate proprietary “fact
sheets” that are included within our periodic
investment reviews. This information is typically
available 30 to 60 days following quarter end,
depending on the investment provider.
SageView maintains a select list of our preferred
stable value products, many of which include a 12-
month book value out provision in the event that a
change is needed in the future. Within this Select
List we have many options to consider and actively
seek to enter relationship pricing arrangements to
gain access to favorable share classes with lower
participant fees. Given SageView’s size, we have
exposure to and perform extensive research on

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many of the top stable value providers available in
the marketplace. Whether using a stable value
fund from our select list or if a more customized
approach is best, we will lean on SageView’s broad
experience with stable value products to find a
best fit solution and to manage the transition for
smooth handoff. This is especially important in the
current rising interest rate environment given that
most, if not all, market to book value ratios are
below 100%. Considering where market to book
value ratios is, the timing of making a change can
have a significant impact to participant accounts if
not overseen properly.
Ultimately, our job is to present this information in
a manner that seeks to take opaque and complex
vehicles such as Stable Value Funds and make
them easier to understand and presents their true
“costs.” Armed with this information, our clients
are able to make informed decisions.
D1 Who will be the main client service The main client service contact/consultant for
contact / consultant for Maricopa Maricopa County is Jake O’Shaughnessy.
County?
D2 How often will the main client service The service team will meet with you in-person
contact / consultant for Maricopa and/or via video conference on a quarterly basis
County be available for client meetings and is available for ad hoc meetings as needed if
with Maricopa County? there are projects in progress, or time-sensitive
matters that arise. Throughout the quarters, there
is no limit on conference calls, and we encourage
clients to reach out as often as they need to.
For all clients where we serve as a consultant
supporting Plan fiduciaries in their governance and
oversight, we take on as much of the
administrative work as possible. Preparation for
the upcoming meeting typically begins 3 - 4 weeks
in advance by hosting a conference call with pre-
determined contacts at the client level, as well as
the incumbent recordkeeper to review the
previous meeting minutes, ensure all follow-up
items from the previous meeting have been
completed and review the proposed agenda. Once
finalized, SageView will distribute all materials
electronically to the Committee 5–7 business days
in advance of the meeting. Materials include
SageView documents, as well as those to be
presented by other parties who may attend the
meeting (i.e., recordkeepers, attorneys, and
auditors). We would also be responsible for
reviewing, editing, or drafting the meeting

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minutes for each meeting.
During the Committee meeting, the SageView
team will present capital markets, legislative and
industry updates, relevant fiduciary
documentation updates that require the
Committee’s attention, as well as any
administrative issues/items. Following this
discussion, a full review of the plan’ investments
will take place. This review includes a review of
each investment’s performance against the
relevant benchmark and peer group, expenses,
the SageView scoring methodology, and the plan’s
investment policy statement (“IPS”) to ensure the
funds are still meeting criteria set forth in that
document.
D3 Provide the total number of clients and Jake O’Shaughnessy currently serves 20 clients
assets under care for the main client with $6.5 billion in assets under advisement,
service contact who will serve Maricopa including Maricopa County as one of his clients.
County at your firm.
D4 Describe your firm’s backup procedures Our service team structure is set up in such a way
in the event the key consultant that if a key member of your service team were to
professional assigned to this account leave the firm unexpectedly, regional offices have
should leave the firm or be transferred investment specialists and lead consultants ready
to other accounts or duties. to step in so that our clients continue to receive
the service they expect. Our teams are also set up
so that behind each client-facing team is a regional
support staff and a national corporate staff that
both provide information and services to our
clients. Through our Client Relationship
Management (CRM) Tool, all core, supplemental
and support team members can see the same plan
information, documents, notes, etc. so they are
able to step in immediately to provide a
temporary solution until a permanent one is
found.
With that said, we do not anticipate any changes
in key personnel. Jake and Stuart have been
servicing Maricopa County for more than 10 years
and do not anticipate any change in their duties at
the firm.
D5 How soon after the end of the quarter The performance reports are prepared quarterly
are performance reports available? and are typically available 30 days after the end of
the quarter online through our fiduciary portal.
D6 Can quarterly performance reports be Yes. All reports are created utilizing our
customized? customized proprietary reporting software, which
allows us to customize our reports to meet our
clients’ needs (within reason). Some examples
include altering benchmarks, executive

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summaries, manager cash flows, and plan cash
flows.
D7 What are the three best features of your Please see below for our three best features we
firm's quarterly performance reports? consider of our firm’s quarterly performance
reports:
1. SageView has developed a very concise
Performance Report which delivers
comprehensive information regarding Plan
investments in a concise and decision-oriented
manner.
2. The performance metrics in our Investment
Performance Reports are strategically aligned with
the Investment Policy Statement fund monitoring
language that Maricopa County uses.
3. Increasingly our performance reports contain
information regarding Participant Wellness,
Education, and Outcomes. This focus will grow in
the future for all SageView clients. We are excited
to support our PersonalSAGE Participant Wellness
resources.
D8 Describe how your firm brings expertise At each meeting, SageView presents an update
and knowledge of what is current in the that includes an in-depth discussion of capital
industry to clients. Include the relevant markets, current and pending legislation, new
technological and legal changes. regulations, and current litigation. Many of the
items discussed in these meetings are
subsequently addressed with the plan
recordkeeper(s) to ensure compliance. In addition
to the above, we also regularly provide
educational opportunities to client Committees in-
between meetings:
• Fiduciary Training for Committee Members
SageView has a fiduciary training presentation that
is recommended for all Committee members,
especially those new to the Committee, and is
updated as new legislation is introduced. The
fiduciary training presentation can be delivered in-
person, as a webinar, or via our online training
portal. Many of our clients have preferred to break
down the training into various “modules” to help
facilitate a greater understanding of the duties as
it relates to their plan as well as to allow for more
timely updates. We have provided the following
link to the web-based version of our fiduciary
training program:
http://sageviewfiduciarytraining.com/. Once we
set up a client with login credentials, they can
access the fiduciary training modules here. An

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assessment testing what you’ve learned is given
and a certification of completion is provided. The
training is also approved for certain continuing
education credits.
• Periodic Newsletters
SageView regularly publishes two informative
newsletters: VIEWPoint and Market Commentary.
In addition, SageView creates and distributes a
regular compliance calendar for all clients.
VIEWPoint is our quarterly newsletter that
contains articles on various topics within the
retirement plan services industry. Market
Commentary is our monthly review of economic
trends and events influencing the markets which is
participant approved. The compliance calendar is
published semi-annually and reviewed quarterly
with the fiduciaries.
• White Papers
We author white papers on various topics. Some
of those topics include fee policies and share class
decisions, money market funds, alternatives in a
low yield environment, market volatility for
participants, and our target date fund
questionnaire and selection guide. These white
papers are available on our website
(http://www.sageviewadvisory.com/white-
papers).
• Legislative and Regulatory Updates
SageView provides timely client alerts on all
important legislative updates, such as DOL
announcements, the SECURE Act, and the CARES
Act, including hosting live webinars with leading
ERISA counsel to discuss the impacts and next
steps for sponsors.
In the case of the SECURE Act in 2019 and CARES
Act in March 2020, we worked with our clients and
their plan document partners (most of our clients
use the recordkeeper’s sample documents) to
schedule the adoption of the appropriate
amendments by the deadlines of December 31,
2020, and December 31, 2021, respectively. To
support our clients in taking the actions necessary
for the SECURE Act, we discussed it during the
regular reviews in February and March. For the
CARES Act, we held conference calls with each
client, taking them through a decision-making
process to reach the appropriate selections for in-

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plan withdrawals and loans that were best for
each client’s populace.
Regarding SECURE Act 2.0, we will work with our
clients to take any actions necessary during review
sessions and through notices. Since the legislation
passed late last year, SageView has focused on
educating and helping our clients evaluate the
provisions. Most recently, in May 2023, SageView
hosted a webinar with ERISA attorneys to address
many of the questions we’ve received from
clients. A link to the replay is available on our
website
(https://www.sageviewadvisory.com/summer-
speaker-series) We have also provided a timeline
of our SECURE Act 2.0 Provisions as Exhibit I.
Another topic that is relevant to all Plan Sponsors
is the recent Department of Labor (DOL) guidance
on Cybersecurity. SageView distributed a due
diligence checklist to each service provider that we
work with on our plans, modelling guidance by the
DOL, detailing what should be implemented to
mitigate exposure to cybersecurity risks. We also
released a due diligence questionnaire that will be
used in our vendor comparative analyses. Lastly,
we hosted national webinars with each top
recordkeeper over the next two months and their
IT teams to allow them to address the DOL
guidance related to cybersecurity/data security
topics. These are posted for our clients to
reference.
D9 Will your firm accept co-fiduciary Yes. Our Firm acknowledges and agrees that in
responsibility? You may respond with: providing these services, it will act as a co-fiduciary
"Our Firm acknowledges and agrees that to provide investment advice to the Client based
in providing these services, it will act as on the particular needs of the Plan and its
a co-fiduciary to provide investment participants and beneficiaries and such services
advice to the Client based on the will serve as a primary basis for investment
particular needs of the Plan and its decisions with respect to Plan assets.
participants and beneficiaries and such
services will serve as a primary basis for Please note that SageView serves as a fiduciary for
investment decisions with respect to 100% of our clients, including Maricopa County
Plan assets." currently.

SERIAL 240026-RFP
D10 What guidance would you give Maricopa The Maricopa County 457 Plan Design is
County about the current plan design? contemporary with many low-cost funds, which
cover most of the widely accepted investment
categories. Participants can use these investments
(or the target date funds) to create a wide array of
portfolios with a diverse range of investment risk
scenarios. However, in the future participants may
demand outcome-oriented solutions. We are
seeing clients focus on aspects for generating
guarantee payouts or income.SageView believes
that defined contribution (DC) plans should offer
participants the investment choices they need to
build well-diversified portfolios that will satisfy a
range of risk appetites. Paired with the knowledge
that participants have different propensities for
proactively managing their investments, plan
sponsors can achieve this goal by offering certain
investments that are hands-off and adapt to
participants’ changing needs as they age and other
investments that cater to the do-it-yourselfers.
The concept of “tiering” a retirement plan’s
investment menu is well-established in the plan
sponsor and consulting communities and forms
the basis of thoughtful menu construction.
D11 What guidance would you give Maricopa After conducting the recent recordkeeping RFP,
County about the current fee Plan Fees are currently low. Our responsibility will
methodology? be monitoring Nationwide and requesting fee
reduction reviews frequently (annually or bi-
annually). SageView’s breadth of industry
information via our clients and recordkeeping RFP
work uniquely positions us to help our clients to
continually benchmark their Plan fees.
We would also continue to oversee the excess
revenue sharing account process. Furthermore,
the fee policy may be reviewed and updated as
necessary. We could also possibly consider a
hybrid participant pricing model where large
account balances do not pay significantly more
than smaller balances.
Please see Exhibit J for Maricopa’s most recent fee
review.
D12 How many recordkeeper RFPs did your In 2022, we conducted 7 projects for clients in the
firm conduct for clients like Maricopa governmental space. Three of the seven projects
County in 2022? Provide a breakdown of resulted in a change in recordkeepers, with the
awards by recordkeeper? selected recordkeepers being Empower, Lincoln
and MissionSquare. Nationwide (Maricopa’s
incumbent) was the incumbent recordkeeper for
four projects (not including Maricopa’s), and one
of those projects resulted in a change.

SERIAL 240026-RFP
D13 The current investment line up is Considering the prevalence of defined benefit
included in Exhibit 6. What changes plans for many employees, Deferred
would your firm suggest that we Compensation Plan participants are increasingly
consider in this plan in the next year and showing interest in providing more ‘outcome’
longer term? focused participant solutions, such as target date
funds or managed accounts. Traditionally, Plan
Sponsors have focused on creating a diverse menu
of low-cost, well performing funds. However, by
empowering participants to understand their
unique situational factors (e.g. assets outside of
the Plan, contribution rates, intended age or
retirement, etc.) we can help them to best create
the optimal retirement solution based on their
situation. SageView has developed our
PersonalSAGE employee education deliverable for
Plans that wish to offer this service to their
employees.
PersonalSAGE is a comprehensive financial
wellness platform providing personalized solutions
aimed at transforming participants' financial lives.
The key to program success is encouraging
participants to engage with our team of financial
coaches, thus, each program element provides an
opportunity to make a connection with
participants.
Over the past several years, in addition to the
group/town hall meetings conducted in person
along with our 1:1 meetings, we’ve seen much
greater use of virtual meetings, supported by our
online scheduling tool. We will designate days for
the County when your employees can sign up for
one-on-one virtual meetings with our financial
coaches. Our coaches are all fully licensed
professionals, most either hold the Certified
Financial Professional (CFP®) certification or are
working towards their CFP® designation. Through
our PersonalSAGE portal, your employees can
select a time that’s convenient for them and
upload any documents or statements they would
like us to review. Meetings can be scheduled for
Zoom or Teams, or by phone. Note that during
these meetings, we are not selling any services or
products to the participants; instead, we are
providing fiduciary advisory services.
We offer over 40 educational topics, and our
resources continue to grow. We have the ability to
deliver topics in the format of your choice via in
person, or virtual webinars. We can also record

SERIAL 240026-RFP
the sessions for future use. Our strategy involves
meeting the County’s population where they are,
which means offering options and multiple
opportunities to engage with the educational
resources available. The web portal gives the
County’s population the opportunity to answer
questions and receive a point-in-time snapshot of
their financial status with actionable steps to
improve.
Employees will receive a personalized snapshot of
their financial standing after completing a brief,
web-based intake questionnaire. This snapshot
serves as a base for an introductory, high-level
financial plan.
Please see Exhibit K for sample PersonalSAGE
materials, including a Plan Sponsor Flyer, Plan
Sponsor Utilization Report on participant usage,
and a Financial Snapshot Statement available for
individual participants.

SERIAL 240026-RFP
EXHIBIT E – CERTIFICATION OF WARRANTIES FOR INVESTMENT
CONSULTATION SERVICES
(Form identified in the Request for Proposals as “Attachment F”)

SERIAL 240026-RFP
EXHIBIT F – LOBBYING PACKET
Public Law 101-121 (31 U.S.C. 1352)
For Reference see Federal Register, dated 2/26/90, Vol. 55, No 18
Dear Bidder, Offeror, Contractor, Subcontractor,
Please review the attached forms and respond as appropriate.
Attachment I
In order to enter into an agreement with the Maricopa County for the provision of contract services or to amend a
current agreement you are required to sign the Certification Regarding Lobbying. Please submit it to this sender with
your Proposal, Contract, or Amendment.
Attachment II
If paragraph 2 of Attachment I applies, then complete this Disclosure of Lobbying Activities form and submit it with
the certification.
Instructions
There is a distinction between lobbying and advocacy. As long as "advocacy" does not involve influencing the obtaining
of a specific grant or contract, but is merely advocacy for the general benefit of the target population served, it is not
lobbying and there may be no need for certification or disclosure. Each case must be reviewed individually by the recipient
as the recipient is responsible for compliance and sanctions.
Each person shall file a disclosure form at the end of each calendar quarter in which there occurs any event that
materially affects the accuracy of information contained in any disclosure form previously filed.

SERIAL 240026-RFP

SERIAL 240026-RFP
DISCLOSURE OF LOBBYING ACTIVITIES
Approved by OMB
0348-0046
Complete this form to disclose lobbying activities pursuant to 31 U.S.C. 1352
(See reverse for public burden disclosure)
1. Type of Federal Action: 2. Status of Federal Action: 3. Report Type:
a. contract a. bid/offer/application a. initial filing
b. grant b. initial award b. material change
c. cooperative agreement c. post-award
d. loan For Material Change Only:
e. loan guarantee year quarter
f. loan insurance date of last report
4. Name and Address of Reporting Entity: 5. If reporting Entity in No. 4 is Sub-awardee,
 Prime  Sub-awardee Enter Name and Address of Prime:
Tier , if known:
Congressional District, if known: Congressional District, if known:
6. Federal Department/Agency: 7. Federal Program Name/Description:
ALN Number, if applicable:
8. Federal Action Number, if known: 9. Award Amount, if known:
$
10. a. Name and Address of Lobbying Entity b. Individuals Performing Services (including address if
(if individual, last name, first name, Mi): different from No. 10a)
(last name, first name, Mi):
11. Amount of Payment (check all that apply): 13. Type of Payment (check all that apply):
$  actual  planned
12. Amount of Payment (check all that apply):
 a. cash
 b. in-kind; specify: nature/value
14. Brief Description of Services Performed or to be Performed and Date(s) of Service, including officer(s)
employee(s), or Member(s) contacted, for Payment Indicated in Item 11:
(attach Continuation Sheet(s) SF-LLL-A, if necessary)
15. Continuation Sheet(s) SF-LLL-A attached:  Yes  No
16. Information requested through this form is Signature:
authorized by title 31 U.S.C. section 1352. This
disclosure of lobbying activities is a material Print Name:
representation of fact upon which reliance was
placed by the tier above when this transaction was Title:
made or entered into. This disclosure is required Telephone No:
pursuant to 31 U.S.C. 1352. This information will
be reported to the Congress semi-annually and will
be available for public inspection. Any person who
fails to file the required disclosure shall be subject
to a civil penalty of not less than $10,000 and not
more than $100,000 for each such failure.
Federal Use Only: Authorized for Local Reproduction
Standard Form – LLL

SERIAL 240026-RFP
INSTRUCTIONS FOR COMPLETION OF SF-LLL,
DISCLOSURE OF LOBBYING ACTIVITIES
This disclosure form shall be completed by the reporting entity, whether sub-awardee or prime Federal recipient, at the
initiation or receipt of a covered Federal action, or a material change to a previous filing, pursuant to title 31 U.S.C.
section 1352. The filing of a form is required for each payment or agreement to make payment to any lobbying entity for
influencing or attempting to influence an officer or employee of any agency, a Member of Congress, an officer or
employee of Congress, or an employee of a Member of Congress in connection with a covered Federal action. Use the
SF-LLL-A Continuation Sheet for additional information if the space on the form is inadequate. Complete all items that
apply for both the initial filing and material change report. Refer to the implementing guidance published by the Office
of Management and Budget for additional information.
1. Identify the type of covered Federal action for which lobbying activity is and/or has been secured to
influence the outcome of a covered Federal action.
2. Identify the status of the covered Federal action.
3. Identify the appropriate classification of this report. If this is a follow-up report caused by a material
change to the information previously reported, enter the year and quarter in which the change
occurred. Enter the date of the last previously submitted report by this reporting entity for this covered
Federal action.
4. Enter the full name, address, city, state and zip code of the reporting entity. Include Congressional
District, if known. Check the appropriate classification of the reporting entity that designates if it is,
or expects to be, a prime or sub-award recipient. Identify the tier of the sub-awardee, e.g., the first
sub-awardee of the prime is the last tier. Sub-awards include but are not limited to subcontracts, sub-
grants and contract awards under grants.
5. If the organization filing the report in item 4 checks "Sub-awardee", then enter the full name, address,
city, state and zip code of the prime Federal recipient. Include Congressional District, if known.
6. Enter the name of the Federal agency making the award or loan commitment. Include at least one
organizational level below agency name, if known. For example, Department of Transportation,
United States Coast Guard.
7. Enter the Federal program name or description for the covered Federal action (item 1.)
8. Enter the most appropriate Federal identifying number available for the Federal action identified in
item 1 (e.g., Request for Proposal (RFP) number; Invitation for Bid (IFB) number; grant
announcement number; the contract, grant, or loan award number; the application/proposal control
number assigned by the Federal agency). Include prefixes, e.g., "RFP-DE-90-001."
9. For a covered Federal action where there has been an award or loan commitment by the Federal
agency, enter the Federal amount of the award/loan commitment for the prime entity identified in
item 4 or 5.
10. (a) Enter the full name, address, city, state and zip code of the lobbying entity engaged by the reporting
entity identified in item 4 to influence the covered Federal action.
(b) Enter the full names of the individual(s) performing services, and include full address if different
from 10 (a). Enter Last Name, First Name, and Middle Initial (MI).
11. Enter the amount of compensation paid or reasonably expected to be paid by the reporting entity (item
4) to the lobbying entity (item 10). Indicate whether the payment has been made (actual) or will be

SERIAL 240026-RFP
made (planned). Check all boxes that apply. If this is a material change report, enter the cumulative
amount of payment made or planned to be made.
12. Check the appropriate box (es). Check all boxes that apply. If payment is made through an in-kind
contribution, specify the nature and value of the in-kind payment.
13. Check the appropriate box (es). Check all boxes that apply. If other, specify nature.
14. Provide a specific and detailed description of the services that the lobbyist has performed, or will be
expected to perform, and the date(s) of any services rendered. Include all preparatory and related
activity, not just time spent in actual contact with Federal officials. Identify the Federal official(s) or
employee(s) contacted or the officer(s), employee(s) or Member(s) of Congress that were contacted.
15. Check whether or not a SF-LLL-A Continuation Sheet(s) is attached.
16. The certifying official shall sign and date the form, print his/her name, title, and telephone number.
Public reporting burden for this collection of information is estimated to average 30 minutes per
response, including time for reviewing instructions, searching existing data sources, gathering and
maintaining the data needed, and completing and reviewing the collection of information. Send
comments regarding the burden estimate or any other aspect of this collection of information,
including suggestions for reducing this burden, to the Office of Management and Budget, Paperwork
Reduction Project (0348-0046), Washington, D.C. 20503.