# Newark Civicplus #26-03

Combined Investment Management and Custodial Services for Pension and OPEB Assets

**Posted:** September 18, 2026
**Respond By:** November 03, 2026
**Identifier:** 26-03
**NAICS:** 523991, 523920

The City of Newark, Delaware is seeking proposals for a combined investment management and custodial services contract for its Employee Pension Fund and Other Post-Employment Benefits (OPEB) Trust.
- Government Buyer:
  - City of Newark, Delaware
  - Administration and Finance Department, Purchasing Division
- Services Requested:
  - Investment management for pension and OPEB assets
    - Includes portfolio management, compliance monitoring, performance reporting, asset allocation recommendations, and investment transaction execution
    - Requires attendance at semi-annual Pension Committee meetings
  - Master custody services for pension and OPEB accounts
    - Includes safekeeping, clearing, securities processing, cash management, accounting, tailored reporting, audit procedures, insurance coverage, and transition planning
    - Must demonstrate experience with master trusts and confidentiality policies
- Proposal Requirements:
  - Firms must submit proposals covering both investment management and custodial services; partial proposals will be rejected
  - Proposals must be submitted via email in PDF format (max 25 MB)
  - Non-binding Notice of Intent to Propose requested
  - All questions to be submitted in bulk via email
- Notable Requirements:
  - Firms must have demonstrated governmental experience and adhere to fiduciary standards
  - Competitive pricing and tailored reporting are emphasized
  - Transition planning and insurance coverage are required
- No specific OEMs or vendors are named; opportunity is open to qualified financial service providers

### Description

The City of Newark is soliciting proposals for combined investment management and custodial services for the Employee Pension Fund and Other Post-Employment Benefits (OPEB) Trust. Proposals must cover both service areas; submissions for only one will not be considered. Proposals should be emailed in PDF format to the City Purchasing Division by 2:00 p.m. on November 3, 2026. Prospective respondents are requested to submit a non-binding Notice of Intent by September 30, 2026, and all questions must be submitted by October 23, 2026.

[View original listing](https://newarkde.gov/bids.aspx?bidID=221)