Illinois State Universities Retirement System, Champaign, issued RFPs seeking providers of master custody and/or securities lending services, as well as proxy advisory and voting services.
SURS, which had $22.5 billion in defined benefit plan assets as of March 31, will consider three proposals for the master custody search — master custody and securities lending, master custody without securities lending and separate securities lending — according to an RFP posted on SURS' website.
Responses to the master custody RFP are due by 4:30 p.m. CDT on July 19, and the system's board plans to select a master custodian and/or the securities lending provider on Oct. 21.
The master custody/securities lending five-year contract(s) begin on or after April 1, 2022, said SURS' spokeswoman Beth A. Spencer in an email.
SURS' current master custodian, Northern Trust, and Deutsche Bank, the system's existing securities lending provider, can rebid, Ms. Spencer said.
Responses for the RFP for proxy advisory and voting services are due by 4:30 p.m. CDT on July 14.
The system's board plans to select a proxy firm Sept. 16 for a three-year contract with two one-year extensions, beginning on or before Oct. 1.
Glass, Lewis & Co., SURS' current proxy provider, may rebid, Ms. Spencer said.