District of Columbia Cobblestone Systems #CFOPD-27-C-008

Award to The Northern Trust Company for District of Columbia OPEB Fund custody services

The District of Columbia awarded The Northern Trust Company a contract to provide master trust custody services for its Other Post-Employment Benefits Fund. - Government buyer: Government of the District of Columbia, Office of the Chief Financial Officer (OCFO), Office of Finance and Treasury (OFT). - Awarded provider: The Northern Trust Company. - Services: Custody and safekeeping for approximately $2.626 billion in fund assets across 7 managed accounts and 17 pooled, commingled, or mutual fund accounts. Services include accounting and reporting, daily cash sweeps, vendor payments, global asset servicing and foreign exchange, trade processing and settlement, compliance and performance reporting, risk monitoring, online account access, and transition support. - Contract value: Not to exceed $295,000 per base or option year; the maximum across the one-year base term and four one-year options would be $1,475,000 if all options are exercised. - Term: One-year base term with four one-year options. The options are unexercised.

Description

The contract is for Master Trust Custodian Services for the District of Columbia’s Other Post-Employment Benefits Fund. The contractor is to provide the services for the Fund, administered by the Government of the District of Columbia. The contract is a requirements contract using firm-fixed unit prices and estimated quantities, with a total amount not to exceed $295,000. The current term runs from October 30, 2026, through October 29, 2027, with four one-year option periods.

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