Maryland Local Government Investment Pool - RFP# MLGIP -10152025

Background
The Maryland State Treasurer's Office (STO) is soliciting proposals for a financial institution with a strong presence in Maryland to provide investment and administrative services for the Maryland Local Government Investment Pool (MLGIP).

The MLGIP, established under Article 95, Section 22G of the Annotated Code of Maryland, consists of funds from local governments and approved State entities for investment and reinvestment. It is under the administrative control of the Maryland State Treasurer and currently has 260 participants with an average daily aggregate balance of approximately $11.5 billion.

Work Details
The contractor will provide investment management services to maintain a stable net asset value and ensure compliance with SEC guidelines. Services include managing investments to preserve capital value, providing liquidity, and ensuring competitive returns.

The contractor will also manage banking services for participants, including account management, transaction reporting, and maintaining a website for participant access. Additionally, the contractor must conduct annual audits, provide performance reports to an advisory committee, and execute a marketing plan to attract new members.

Period of Performance
The contract will have a three-year base period with two one-year renewal options.

Place of Performance
Annapolis, Maryland.

Bidder Requirements
Offerors must be financial institutions as defined by Maryland law with specific ratings from recognized agencies. They must have disaster recovery plans in place and comply with insurance requirements including cyber security coverage. There are no MBE or VSBE goals associated with this RFP.