Plano (Texas) Retirement Security Plan plans to issue an RFP for a custodian/trustee in the next few weeks, said Andrea Cockrell, administrative services manager for the city.
The search is being conducted due to the upcoming contract expiration of incumbent custodian Frost Bank, which will be invited to rebid.
The defined benefit plan has approximately $91 million in assets.
The RFP will be posted on purchasing website BidSync. Frost Bank’s contract expires at the end of December. A hiring decision will likely be made before then.