Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Trustees approve five‑year custodian extension after investment committee review
Summary
The San Jose pension boards approved a five‑year extension of the custodian contract following investment‑committee review and staff recommendation; trustees discussed limited vendor choice, rising fees and choice not to run an RFP.
San Jose pension trustees approved a five‑year extension of the plans’ custodian bank contract after an investment‑committee recommendation and staff presentation.
Staff told trustees the custodial relationship began in 2020 and that portfolio growth and a large increase in the number of accounts had driven an expected fee increase. Staff recommended extending the current agreement rather than issuing a new RFP…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
