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PFRS Recommends Five-Year Northern Trust Renewal

City of Oakland logoCity of Oakland
Disclosed value
Not to exceed $137,000 per year; proposed annual fee stated as $136,500 in the Meketa memorandum
From agendapacket
Document date
Oct 28, 2026
Renews
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The 30-second brief

What it covers

PFRS recommended renewing The Northern Trust Company’s master custody and securities lending agreement for five years. The proposed annual flat custody fee is $137,000 or less, effective October 1, 2026, through September 30, 2031.

Who holds it

Northern Trust Company holds this financial services contract with City of Oakland. Its other public contracts on record include work for Lansing Board Of Water And Light Pension Fund (Closed 1996).

What happens next

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Contract details

Contract type
Financial Services
Amount
Not to exceed $137,000 per year; proposed annual fee stated as $136,500 in the Meketa memorandum
Document date
October 28, 2026
Term
Five-year term effective October 1, 2026, through September 30, 2031
Renews
On record
Vendor
Northern Trust Company
Agency
City of Oakland
Source document
Oakland Police and Fire Retirement System AgendaPacket Investment & Financial Matters Committee Meeting 2026-10-28 (AgendaPacket)

Northern Trust Company's other public contracts

Lansing Board Of Water And Light Pension Fund (Closed 1996), MichiganNorthern Trust Continues Custody Services for BWL Plans · Nov 10, 2026UndisclosedCity of Oakland, CaliforniaPFRS Approves Five-Year Northern Trust Amendment · Oct 28, 2026UndisclosedCity of Oakland, CaliforniaPFRS Extends Northern Trust Custody Agreement · Oct 28, 2026UndisclosedCity of Oakland, CaliforniaPFRS Amends Northern Trust Custody Agreement · Oct 28, 2026UndisclosedCity of Oakland, CaliforniaPFRS Reviews Northern Trust Custodian Bank Relationship · Oct 28, 2026UndisclosedAll Northern Trust Company contractsVendor profile

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Questions about this contract

Who was awarded the financial services contract by City of Oakland?

Northern Trust Company was awarded this financial services contract by City of Oakland, as recorded on October 28, 2026. The contract value is Not to exceed $137,000 per year; proposed annual fee stated as $136,500 in the Meketa memorandum.

How much is the Northern Trust Company contract with City of Oakland worth?

The Northern Trust Company contract with City of Oakland is valued at Not to exceed $137,000 per year; proposed annual fee stated as $136,500 in the Meketa memorandum, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in Oakland Police and Fire Retirement System AgendaPacket Investment & Financial Matters Committee Meeting 2026-10-28 (AgendaPacket), dated October 28, 2026 from City of Oakland. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Northern Trust Company hold?

Northern Trust Company may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

What is City of Oakland currently buying?

Explore City of Oakland's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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