Searches and Hires

Metropolitan Washington Airports Authority seeks custodial services for retirement plans

Metropolitan Washington Airports Authority, Washington, is searching for a firm to provide trust and custodial services for its pension plans and VEBA trust.

The retirement plan for general employees has $179 million in assets, while the plan for police officers and firefighters has $107.5 million. The VEBA trust has $125.9 million.

The search is being conducted because the authority's contract with the current custodian, Bank of New York Mellon (BK), is set to expire soon, said authority spokeswoman Christina Saull. The bank is welcome to rebid.

The RFP is available on the authority's website. Proposals are due by 2 p.m. EDT April 30. Ms. Saull said she expects a selection to be made 90 to 120 days after the deadline.