The $6 billion Nevada Public Employees Retirement System is trying to redeem all of its 18 units, worth an estimated $7.9 million, in Heitman Real Estate Fund II. PMRealty Advisors is handling the deal.
The decision follows changes in Nevada's strategic real estate plan.
The fund now will invest in separate accounts, said Jim McWalters, managing director of PMRealty.
Sandra Parker was hired as the new chief investment officer of the $2.2 billion Philadelphia Municipal Pension Fund.
Ms. Parker, who starts in January, is replacing Tina Poitevien, who left the fund earlier this year.
Ms. Parker currently is vice president and director of marketing for the Institute of Fiduciary Education.
The federal government is going to lose more money through tax breaks for employer contributions to pension plans and on pension plan investment income than any other item during the next five years, according to a report released last week by the Joint Committee on Taxation.
The pension tax breaks are projected to cost the government even more in lost revenue than its giveaway on more mortgage interest payments.
They will cost the government $391.6 billion, a 26% increase from the committee's earlier estimate of $311.1 billion.
In contrast, the government's giveaway on home mortgage interest payments is expected to total $302.1 billion.
Collins Associates, a manager of managers, hired Daniel Wingerd as executive vice president for endowments and foundations to launch the firm's first serious marketing thrust in that area. He had been vice president, Western region, for The Common Fund.
Executives for Kohl Department Stores hired three managers for its $28 million in retirement assets, said Donald Kuglitsch, director of benefits.
For the company's $18 million defined contribution plan it hired: William Blair for a stock option; Bank of America Illinois for a bond option; and Wells Fargo for a balanced mutual fund option, Mr. Kuglitsch said. The company also added a company stock option.
For its $10 million defined benefit plan, Kohl hired Bank of America Illinois to manage all of the assets, and to act as its trust provider, he said.
Marshall & Ilsley was Kohl's sole previous manager and trust provider.
Hewitt assisted in the changes.
The $30 million Onondaga County Laborers Pension Fund, East Syracuse, N.Y., hired Trust Fund Advisors to manage a $10 million balanced portfolio, said Jan Moro, plan administrator. No other details were available.