The Boston Retirement System (the “System”) is accepting proposals for custody services for the investments of the System’s $6.6 billion defined benefit, pension fund. All firms submitting proposals for this mandate, at a minimum, must:

  • have familiarity with and agree to comply (in writing) with Massachusetts G.L. Chapter 32 and Chapter 176 of the Acts of 2011. Additionally, candidates must have familiarity and agree to comply with the reporting and investment guidelines administered by PERAC. Guidelines can be found in the links provided below.

  • have total assets under trust and/or custody for institutional clients in excess of $1 trillion as of June 30, 2023.
  • have at least five U.S. based institutional public fund clients with U.S. aggregate assets in excess of $20 billion as of June 30, 2023.
  • have at least $50 billion in lendable assets within the securities lending program for each of the last five calendar years (2018-2022).

NEPC is running the search through an RFP portal (InHub). Please contact Kristina Tomasik ([email protected]) to confirm your intent to bid and to request access to the portal.

All questions should be communication through the portal (no phone calls please).

Proposals must be submitted through the portal by 5:00 pm EDT, on October 18, 2023. Proposals received after the deadline will not be considered.

The following documents must be included in your proposal:

  • A cover letter indicating your firm’s interest
  • Completion of NEPC’s annual trust/custody RFI
  • Completion of the PERAC disclosure and verification forms (4)
  • Completion of Attachment A_Custody Pricing Worksheet

Search Contact:

Kristina Tomasik


[email protected]


Attachment: Search Notice

Attachments: PERAC Forms

Placement Agent Form

Vendor Certification Form

Vendor Contact Information

Vendor Disclosures