REQUEST FOR PROPOSAL ("RFP") for
Custodian Bank Services for
Montgomery County Public Schools (MCPS) Retirement System Trust
RELEASE DATE:
January 31, 2022
On behalf of the Board of Education of Montgomery County, Maryland, Montgomery County Public Schools (MCPS) is seeking proposals from qualified master trustee/custodian providers in five different capacities: custody services (stand-alone); benefit payment management (stand-alone); custody services and benefit payment management; custody services and portfolio analytics; lastly, custody services, benefit payment management, and portfolio analytics. The respondents will be evaluated in each capacity separately, with a final determination made after the proposals are received and evaluated. The contract is anticipated to begin in July 2022. MCPS currently utilizes BNY Mellon as master custodian provider for custody services and Aetna Life Insurance Company for benefit payment management.
NEPC, LLC (NEPC) has been retained by MCPS to assist in the process of conducting an evaluation of qualified applicants (Firms, and each a Firm). Representatives from NEPC may contact responders that submit proposals in relation to this Request for Proposal (RFP).
As of October 31, 2021, the MCPS Retirement System Trust (Trust) had assets of approximately $2.4 billion.
RFP inquiries and submissions are due by the deadlines above. Inquiries must be directed to procurement at Angela_S_Mcintosh-Davis@mcpsmd.org. Proposals submitted will require a two-step process. Firms must submit one original and one electronic version on a flash drive, and one redacted copy of the full proposal must be sent by mail, courier, or hand-delivery. Firms will also be required to submit proposals via InHub (www.theinhub.com) to NEPC. See 7.0 Mandatory Submissions in the RFP for full detail. Proposals are to be received, as well as submitted via InHub, no later than 2:00 p.m. eastern on February 28, 2022.
To request access to the online RFP submission platform, please fill out the Request Access form (right). Additional details, including a copy of the RFP can be found on the MCPS website.
Questionnaires must be submitted via InHub's online RFP management platform
Fill out the form below to request online access.
DEADLINE FOR INQUIRIES:
February 7, 2022 (by 4:00 pm eastern)
DEADLINE FOR SUBMISSION:
February 21, 2022 (by 2:00 pm eastern)
Powered by:
RFP MANAGEMENT PLATFORM:
InHub (Request access right)
Asset Size: $2.4 billion