Overview

San Mateo County Employees’ Retirement Association (SamCERA), a public pension system, administers a defined benefit pension plan with net assets of $6 billion. SamCERA issues this Request for Proposal (RFP) to solicit proposals from qualified independent certified public accounting firms to (1) audit and render an opinion on its annual financial statements and other information and (2) issue a report on compliance and internal controls. A detailed description of services is in Section V. The anticipated initial term of the contract will be for five years, with a start date of May 1, 2024.

SamCERA is seeking proposals from organizations that can meet or exceed the following qualifications:

• The firm must meet all minimum qualifications set forth in the State Controller Guidelines.

• The firm must be an independent public accounting firm licensed by the State of California under the Accountancy Act, Article 4, Section 5070.

• The firm must have conducted, within the last five years, at least two audits of defined benefit pension plans of public agencies falling under California’s County Employees Retirement Law (CERL) of 1937 (California Government Code Section 31450 et seq., “the CERL”) with assets exceeding $1 billion.

• The firm must have experience in auditing different types of investments including the following: equity securities (domestic, global & international), public market commingled funds, fixed income securities/bonds, real assets, private real assets including private real estate, alternative investments (private equity, private credit funds, hedge funds), and securities lending.

• The Engagement Partner responsible for the SamCERA audit, and the partner who signs the audit report (if different), must have at least ten years of experience in public accounting. Such experience must include audits of defined benefit pension plans. This person must be a Certified Public Accountant licensed by and in good standing with the California Board of Accountancy.

• The Engagement Audit Manager responsible for the SamCERA audit must have at least five years of experience in public accounting. Such experience must include audits of defined benefit pension plans. This person must be a Certified Public Accountant licensed by and in good standing with the State of California.

• The Engagement On-Site Audit Supervisor responsible for the SamCERA audit must have at least three years of experience in public accounting. Such experience must include audits of defined benefit pension plans. This person must be a Certified Public Accountant licensed by and in good standing with the State of California.

• The Engagement Audit Manager and On-Site Audit Supervisor must be available for consultations throughout the year.

• The firm must have all necessary permits and licenses.

• The firm must provide its own work facilities, equipment, supplies, and support staff to perform the required services.

Proposal Submission Process

Proposals must be received no later than 12:00 p.m. (PST) on March 7, 2024.

Proposals must be submitted electronically to: proposals@samcera.org and three hard copies mailed/delivered to:

SamCERA
Attn: Tat-Ling Chow, Finance Officer
100 Marine Parkway, Suite 125
Redwood City, CA 94065

Schedule of RFP Events is set forth in the chart below and may be subject to change:

More Information

The following information can be found under “Related Links” on the right side of this webpage:

• For more information and details about this request for proposal, please read the full RFP, attached as a PDF.
• The Proposer Questionnaire, attached as Word file.