Bay County Employees’ Retirement System, Bay City, Mich., is searching for a custodian for its $312 million pension fund and the $46 million Bay County Voluntary Employees’ Beneficiary Association.
Northern Trust is the current custodian. It could not be learned by press time if it can rebid.
The RFP is available on the county’s website. Proposals are due by 11 a.m. EDT April 13 and the successful applicant will be awarded a five-year contract.
Jan Histed, secretary of the board of trustees of the retirement system and director of the county’s finance department, did not return a call seeking more information about the search, including the reason for the search and the time frame for a hiring decision.