Sarasota (Fla.) Police Officers’ Pension Fund will conduct a search for a custodian, said Thomas D. Kelley, the city’s pension plans administrator.
The $204 million pension fund’s board approved a draft request for proposals at its May 22 meeting; current custodian Salem Trust will be invited to rebid.
The timing for the issuing of the RFP has yet to be determined and depends on reviewing the draft RFP with the city’s purchasing department, Mr. Kelley said. He did not know the overall reason for the search.
The RFP will be posted on the city’s purchasing department website.