National Railroad Retirement Investment Trust, Washington, plans to select a custodian bank within the next month or so, said Enos T. Throop Jr., CIO. The $20 billion fund has narrowed its list of candidates, but Mr. Throop declined to name the finalists.
Hiring the custodian is one of the key steps in setting up the new trust. Mr. Throop couldn't say when the trust will begin to receive funds from the Treasury Department.
Watson Wyatt is assisting.