Saugus (Mass.) Contributory Retirement System is searching for a bank or financial institution to provide institutional custodial/master trust services for the $106 million defined benefit plan.
The search is being conducted because the retirement board is taking some of its assets out of the $71.8 billion Massachusetts Pension Reserve Investment Trust, Boston, to manage in-house, said Ann C. Quinlan, board administrator.
A copy of the RFP can be obtained by contacting Ms. Quinlan via email. Proposals are due by noon EST on Dec. 20. Ms. Quinlan said she expects a selection to be made in January.