Trustee Services

Overview

Financial, Legal, HR & Staffing

Sacramento, California, United StatesPosted 13 days agoDeadline: May 15th, 2026

Fit Score

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SUMMARY

A Sacramento government authority is seeking a trustee to manage a dedicated loss reserve fund, handle claims disbursements, and provide monthly reporting and statements.

KEY REQUIREMENTS

Must be a trust company, corporation, or bank with powers of a trust company
Must have a combined capital and surplus of at least $50,000,000.00
Must be subject to supervision or examination by federal or state authority
Must have an established office with a physical location and key personnel within the State of California
Must be qualified to do business in the State of California
Must have been in operation for a minimum of two years providing the required services
Must not be a publicly traded corporation or subsidiary thereof that is incorporated offshore
Must be free from conflicts of interest
Must be immediately available to provide services

BUDGET

Verified

$49,000

CONTRACT DURATION

36 months

TIMELINE

April 24th, 2026: RFP Advertisement

May 1st, 2026: Written questions due by 12:00 p.m. PT

May 5th, 2026: Responses to questions posted

May 15th, 2026: Proposals due by 12:00 p.m. PT

May 15th-21st, 2026: Evaluation and selection

May 22nd, 2026: Notice of Intent to Award

July 1st, 2026: Anticipated Commencement of Agreement

QUESTION DEADLINE

May 1st, 2026

Issuing Agency

California Alternative Energy And Advanced Transportation Financing Authority

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DESCRIPTION

A government authority in Sacramento, California is seeking a vendor to provide trustee services for the management of a dedicated fund, known as the PACE Loss Reserve Trust Account. The selected trustee will be responsible for establishing, maintaining, and holding this separate fund, into which deposits will be made as determined by the agency's executive director or designee.

Key responsibilities include disbursing claim payments from the program fund, tracking all such activities for reporting purposes, holding and monitoring the fund, performing various account-related activities, and maintaining comprehensive recordkeeping of all transactions and claim activity. Additionally, the trustee is required to provide monthly bank statements to the agency by the 15th day of each following month for the account associated with the loss reserve. The initial contract period is one year. Questions regarding this RFP may be submitted no later than May 1, 2026.

Source attribution

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