Master Trust Custodian Services

Overview

Financial, Legal, HR & Staffing

Washington, District of Columbia, United StatesPosted 23 days agoDeadline: May 5th, 2026

Fit Score

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SUMMARY

Washington, DC seeks a provider for master trust custodian services for its retiree benefits trust, including asset custody, reporting, global asset servicing, and client support.

KEY REQUIREMENTS

Must provide master trust custodian services for the District's OPEB Fund
Must have experience with U.S.-based public plans with assets in the $500 million to $3 billion range
Must comply with the First Source Employment Agreement Act of 1984
Must maintain required insurance coverage including CGL, Automobile, Workers' Compensation, Crime, Cyber Liability, and Professional Liability
Must pass annual OCFO/OCIO Cybersecurity Awareness Training
Must pass annual OCFO/OIO Integrity and Ethics Training
Must be authorized to do business in the District of Columbia
Must have an A.M. Best Company rating of A- / VII or higher for insurance providers

BUDGET

Estimate

$2,147,483,647

CONTRACT DURATION

12 months

TIMELINE

Solicitation issued: April 14, 2026

Inquiry deadline: April 21st, 2026

Proposal submission deadline: May 5th, 2026

QUESTION DEADLINE

April 21st, 2026

Issuing Agency

Office of the Chief Financial Officer

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DESCRIPTION

The government authority based in Washington, DC seeks a qualified vendor to provide master trust custodian services for the district’s Other Post-Employment Benefits (OPEB) trust fund for retirees. The selected vendor will maintain custody of the trust’s assets, ensuring accurate and timely delivery of monthly transaction statements and asset listings. Services must include the daily sweep of available cash into a money market fund and provision of online access to account information.

Additional responsibilities comprise global asset servicing—including foreign exchange transactions—and preparation of all annual auditor, compliance, and regulatory reports. The provider should deliver compliance reports aligned with the fund’s investment policy and support a wide range of asset classes and investment strategies as part of comprehensive global custody services. Ongoing client service will encompass accounting, administration, manager contact, cash and trade settlement, performance measurement, continuity of services, and regular client education. Cash management and short-term investment services are also required. The contract will be for a one-year period.

All questions regarding this RFP must be submitted by April 21, 2026.

Source attribution

This Settle analysis is based on the issuing organization’s public RFP listing.