Approval of Deferred Compensation Consulting Contract

Original title: Award RFP-604926-25/LNF - Term Contract for Deferred Compensation Consulting Services to Gallagher Fiduciary Advisors, LLC, Rolling Meadows, IL, in the annual estimated amount of $25,000.00, and authorize the Purchasing and Contracts Division to execute the agreement. Countywide (Stephen Koontz, Administrative Services Deputy Director) Requesting Department - Administrative Services

October 14, 2025

government contracting employee benefits finance county administration

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The Frame

What this does

This action authorizes the expenditure of $25,000 in county funds annually for professional consulting services to manage employee retirement savings programs.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Gallagher Fiduciary Advisors, LLC

The firm is contracted to provide consulting services to the county.

County Employees

Employees participating in deferred compensation plans will have their plans managed by the new consultant.

What changed

Last recorded activity October 14, 2025.

What's next

Next step not available in the current record.

Summary

The Board of County Commissioners has approved a contract with Gallagher Advisors, LLC to provide consulting services for the county's plans. The contract is valued at an estimated $25,000 annually.

Key Facts

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Frequently Asked Questions

What is deferred compensation?

refers to arrangements where a portion of an employee's income is set aside for payment at a later date, typically for retirement savings plans.

How much will this contract cost taxpayers?

The contract is estimated to cost $25,000 per year.

Why It Matters

This action authorizes the expenditure of $25,000 in county funds annually for professional consulting services to manage employee retirement savings programs.