West Springfield (Mass.) Retirement System is searching for a custodian for the defined benefit plan’s $100 million portfolio.
State Street is the current custodian and is invited to rebid, said Tasha Hoye, benefits coordinator. The search is being conducted because the plan’s contract with the bank is set to expire soon and the board wants to explore new options and seek lower fees.
The RFP can be obtained by contacting Ms. Hoye at [email protected].
Proposals are due by 3 p.m. EST on Jan. 25. A selection is expected to be made within 60 days of the deadline.