Somerville (Mass.) Retirement System is searching for a custodian.
The $225 million pension fund issued an RFP due to the Massachusetts Public Employee Retirement Administration Commission's requirement that services be put up for bid every seven years, said Michael Pasquariello, executive director, in an email.
Current custodian Comerica Bank is eligible to rebid, Mr. Pasquariello said.
The RFP is available on the pension fund's website. Proposals are due at 2 p.m. EDT on April 20. A selection is expected in June, Mr. Pasquariello said.