Sacramento (Calif.) Regional Transit District is searching for a custodian for its two defined benefit pension funds, confirmed Colleen Trant, procurement analyst.
The transit district issued an RFP because it is the district's policy to put the services up for bid every five years. Current custodian State Street Bank is invited to rebid.
The RFP can be obtained by contacting Ms. Trant at 916-556-0155 or [email protected]. Proposals are due at 2 p.m. PDT on April 8. A timetable for a decision has yet to be determined.
The two pension funds are the Amalgamated Transit Union Local 256 and International Brotherhood of Electrical Workers Local 1245 Member Retirement Plan Fund and the Salaried Employees Retirement Plan Fund.
The pension funds had combined assets of $82 million as of June 30, according to the district's most recent comprehensive annual financial report.