Texas Teacher Retirement System, Austin, rehired State Street Bank for custodial and securities lending services.
Trustees of the $130 billion defined benefit plan approved the move at the July 11 board meeting, said Juliana Fernandez Helton, a TRS spokeswoman, in an e-mail.
The new five-year contract starts Jan. 1, 2015, with possible extensions of up to two years.
Ms. Helton said State Street Bank was rehired “based on a combination of factors, including service levels, experience and cost.” She said RFPs had been sent to the four largest U.S. custodians.
