HIRINGS
Trustees of the $2.1 billion Philadelphia Municipal Pension Fund hired Pension Consulting Alliance as real estate consultant, said David Volpe, the city controller's representative to the board of trustees. PCA replaces The Townsend Group, which resigned. Crown Crafts Inc., Calhoun, Ga., will introduce a new, unbundled 401(k) plan Jan. 1 for its 2,500 employees, said Bonnie Wasdin, director of human resources. Investment management will be provided by Reiser, Builder & Douglas, which will run a stable value and an aggressive growth fund. The firm also will construct and manage four lifecycle funds that will invest in the mutual funds available through the fund alliance of the plan's record keeper, Buck Consultants. Crown Crafts company stock also will be available within the plan, which will be valued quarterly. Consultant Taylor & Co. assisted. The $3.8 billion Louisiana State Employees' Retirement System, Baton Rouge, hired JMC Capital Management to run a $60 million small-cap growth portfolio, said James O. Wood, executive director. The fund also added $65 million to an existing small-cap growth equity portfolio run by TCW, bringing its total to $140 million. Funding for both managers came from the $125 million equity portfolio formerly managed by Investment Advisers Inc. New England Pension Consultants assisted.
