Montgomery County Public Schools, Rockville, Md., has issued an RFP seeking a master custodian for the $2.4 billion MCPS Retirement System Trust.
MCPS currently utilizes BNY Mellon as master custodian for custody services and Aetna Life Insurance Co. for benefit payment management, according to the RFP posted on InHub.
The MCPS RFP, on behalf of the Montgomery County Board of Education, is seeking proposals in five different capacities: stand-alone custody services; stand-alone benefit payment management; custody services and benefit payment management; custody services and portfolio analytics; and custody services, benefit payment management and portfolio analytics.
MCPS has retained NEPC LLC to assist in the search.
Proposals are due Feb 28. The contract is expected to begin in July.
An MCPS representative could not immediately be reached to provide additional information.
