Norfolk County Retirement System, Canton, Mass., is searching for a bank or financial institution to provide custodial/master trust services for the $950 million defined benefit plan.
The RFP was issued to abide by state procurement regulations, said Kathleen Kiely-Becchetti, executive director of the retirement system. State Street is the incumbent and is invited to rebid.
Although Wainwright Investment Council is the system's investment consultant, this search is being handled in-house.
The RFP is available on the retirement system's website. Proposals are due by 12 p.m. EDT on March 21. The board has until June 30 to make a selection, but one will probably be made sometime in April, Ms. Kiely-Becchetti said.
