City of Milwaukee Employes' Retirement System rehired Northern Trust for custodian and securities lending services, said David M. Silber, chief investment officer for the pension fund, in an e-mail.
The CMERS board approved a five-year contract.
CMERS didn't undertake a custodian search, Mr. Silber said. The pension fund had extended Northern's contract beyond its expiration Dec. 31 to allow for completion of negotiations.
CMERS oversees $5 billion in assets.