Pension Benefit Guaranty Corp. issued an RFP for a custodian for its $60 billion in trust fund investment assets.
Services sought include securities lending, risk analytics, performance measurement and compliance reporting, according to the RFP.
“These assets will be transferred into separate commingled accounts or non-commingled holding accounts for accounting and management purposes,” according to a posting on the Federal Business Opportunities website.
The custodian will work under a one-year contract expiring Sept. 30, 2015, with the option for four one-year extensions.
Current custodian State Street Corp. may rebid, said Marc Hopkins, PBGC spokesman.
The RFP is on the Federal Business Opportunities website. Proposals are due at 10 a.m. EDT April 21. A selection is expected by Aug. 1.
The PBGC had $83 billion in assets as of Sept. 30, according to its fiscal 2013 annual report.