Trustee and Custody Services for Pension and Post-Employment Benefits

RFP issued: February 27th, 2026

Questions due: March 23rd, 2026, 11:00 a.m. local time

Proposals due: March 31st, 2026, 11:00 a.m. local time

Contract base term: 5 years

Option to extend: Up to two additional 3-year terms

Possible total contract duration: 11 years

The government authority in Delaware is seeking a vendor to provide trustee and custody services for pension and other post-employment benefit programs. Services include collecting and receiving principal and income from investments, maintaining comprehensive records, and providing monthly activity reports to the Plan Administrator.

The selected vendor will be responsible for notifying the Plan Administrator of communications requiring action, responding to audit inquiries, and preparing financial statements as well as all state and federal pension forms. Additional duties involve maintaining accurate records of all plan members, issuing monthly payments to retirees, remitting withheld taxes, and providing a range of administrative services such as document management, accounting, asset allocation, and reporting.

Further requirements encompass financial strength and insurance coverage, audit and risk controls, values and culture alignment, client service, custody and safekeeping of assets, management of corporate actions, class actions and proxies, global custody and network management, cash management, and beneficiary payment services.