Public Safety Pension Board Independent Custodian

Closed State & local contract opportunity

Solicitation number
RFP26-7
State
Florida
Responses due

Opportunity facts

Jurisdiction
UNSPSC codes
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Point of contact

Updated .

About this opportunity

Written by GovTribe AI ·

The City of Winter Park, Florida, is soliciting proposals from qualified financial institutions to serve as an independent custodian for the Police Officers' and Firefighters' Retirement Boards' pension plan assets. This Request for Proposal (RFP) seeks a Qualified Public Depository (QPD) that can provide comprehensive custodial banking services, including safekeeping of assets, trade settlement, income collection, benefit disbursement, and detailed record maintenance and reporting. The selected institution must be FDIC- or NCUA-insured and demonstrate financial stability. The RFP evaluation will occur in two phases, with a total of 100 possible points distributed across experience (15 points), qualifications (15 points), service cost (25 points), quality of engagement (30 points), company experience (35 points), and workload management (35 points). The proposal submission deadline is January 2, 2026, at 2:00 p.m., with electronic submissions required through the City's procurement portal, and late submissions will not be accepted under any circumstances.

The solicitation does not specify any specific set-aside designations or restrictions for disadvantaged enterprises. Respondents must provide comprehensive documentation including business history, financial systems, accounting capabilities, cash management services, custody procedures, and fee structures. All proposed fees must be guaranteed for a specified period. Proposing institutions must acknowledge their fiduciary status under ERISA and Florida Statutes, accept Florida law as governing, agree to venue in Orange County, and comply with E-Verify employment verification requirements. While no specific budget range is explicitly stated, the comprehensive nature of the services suggests a significant contract value commensurate with managing pension plan assets. The Board reserves the right to reject any or all proposals and select the most advantageous submission without initiating a new competitive process if the initial awardee defaults.

Opportunity text

As posted by the source.

The City of Winter Park, on behalf of the Police Officers' and Firefighters' Retirement Boards, is soliciting proposals from qualified financial institutions to provide custodial banking services for the management and safekeeping of pension plan assets. The selected Custodian will serve as a Qualified Public Depository (QPD) in accordance with Chapter 280, Florida Statutes, and will be responsible for all custody, settlement, and reporting functions related to the Boards' investment portfolios. Services include safekeeping of assets, trade settlement, income collection, disbursement of benefits, record maintenance, and preparation of monthly and annual reports. The Boards seek a financially stable, FDIC- or NCUA-insured institution capable of delivering secure, accurate, and cost-effective custodial services.

Files

File Type Posted
Public_Safety_Pension_Board_Independent_Custodian.pdf PDF

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