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Pension Funds

San Bernardino County puts custodian State Street under review

San Bernardino County (Calif.) Employees' Retirement Association's investment committee agreed to conduct a six-month review of its custodian, State Street Bank and Trust Co., confirmed Adam Sands, spokesman for the $9.7 billion pension fund.

The review and a recommendation from staff as to whether to continue its relationship with State Street are scheduled to be completed and brought before the board in the fall. Mr. Sands declined to comment on why the committee came to the decision.

State Street spokesman Andrew Hopkins could not be immediately reached for comment.