The City of Newark is soliciting a combined proposal for investment management and custodial services for the employee pension fund and OPEB trust. Proposals must cover both services and will be evaluated based on ability to meet requirements, cost, investment performance, reputation, and additional services. The deadline to submit proposals is November 3, 2026, by 2:00 p. m. The contract term is for 5 years, commencing January 1, 2027. All proposals must be emailed in PDF format.
Proposals must be in the possession of the city by 2 pm this date. November 3, 2026 proposals must be in the possession of the city by 2 pm this date.
The city of newark will not disburse payment to any vendor via paper check. all firms acknowledge that electronic fund transfer eft payments or direct payments from the investment accounts listed here are acceptable.
The city reserves the right to award the contract to the firm that the city believes will offer the best value for the scope of work. the city reserves the right to award the contract to the firm that the city believes will offer the best value for the scope of work.
Offerors must demonstrate direct experience providing investment management and master custody for municipal pension funds and OPEB trusts. Offerors must additionally demonstrate direct experience providing investment management and master custody for municipal pension funds and opeb trusts.
Failure to provide any of the required documentation may be cause for the proposal to be deemed nonresponsive and rejected. failure to provide any of the required documentation may be cause for the proposal to be deemed nonresponsive and rejected.
The selected firm shall furnish all services, materials, systems, reports, and personnel necessary to provide both the investment management and custodial services described in this rfp. the selected firm shall furnish all services, materials, systems, reports, and personnel necessary to provide both the investment management and custodial services described in this rfp in compliance with professional standards established as reasonable and customary by the industry for similar services.