Adams (Mass.) Retirement System is searching for a custodian for its $33 million portfolio.
Fiduciary Investment Advisors, the defined benefit plan's investment consultant, is assisting with the search.
The search is being conducted to comply with state law that requires contracts go out to bid every seven years, said Matthew Fratini, research analyst at Fiduciary Investment Advisors. State Street is the current custodian and is welcome to rebid.
The RFP is available on Fiduciary Investment Advisors' website. Proposals are due by 4 p.m. EDT Aug. 22. A selection is expected to be made in the fall, said Mr. Fratini.