Specifications include, but are not limited to: MPS is seeking a trustee/custodian for the Plans and OPEB Trust. The custodian will be responsible for tracking and recording accounting data for all investments within the Plans and Trust and, in effect, will serve as the subsidiary ledger for a majority of MPS’ retirement plan investments. MPS requires a comprehensive set of services from a trust/custody bank, including, but not limited to, core services such as custody safekeeping and asset servicing, investment accounting, US GAAP and GASB reporting support, trade processing and settlements (contractual settlement), corporate actions processing, derivatives processing, proactive investment manager reconciliation, where appropriate for all account vehicle types. MPS would also like to understand your firm’s capabilities with respect to Master Trust Plan Accounting in support of the OPEB Trust. The preferred trustee/custodian should have proven global capabilities in safekeeping (cash movement and control), asset servicing, trade processing, and financial reporting. Daily access to real-time cash, custody and financial reports through a web-enabled, secure platform would be ideal. Income collection and corporate actions are essential in the day-to-day administration of the funds with well-established class action processing/filing, proxy notification capabilities, and related ancillary services. Cash sweep vehicle (short term cash management) use is necessary for frictional cash balances. Derivatives handling and processing is required as derivative instruments can be utilized for liquidity and exposure management purposes. MPS does not currently participate in a securities lending program and does not intend to in the foreseeable future.
