Gainesville, Ga., is searching for a global custodian for its $69 million defined benefit plan, according to an RFP posted on the city's website.
The pension plan, known as Retirement Plan A, is looking for a firm to provide services including “asset safekeeping, account management, plan accounting, investment accounting and reporting, asset pricing, securities litigation monitoring, foreign exchange services (if necessary), transition services, risk management services, benefit processing and short-term investment management for short-term cash sweeps and transfer of funds,” according to the RFP.
Information on the current custodian could not be learned by press time.
The RFP is available on the city's website. Proposals are due at 2 p.m. EDT July 12. Finalist presentations are scheduled for the week of Sept. 2, with a decision expected by Sept. 20.
Gainesville City Manager Kip Padgett did not return a phone call by press time and Matt Hamby, purchasing agent, was not available by press time.