SEARCHES & HIRINGS
Trustees of the $110 million City of Fall River (Mass.) Contributory Retirement System are searching for the system's first international stock manager, said Florence Pires, executive secretary. The deadline for responses to RFPs is Jan. 31; a manager should be picked by May.
The system anticipates investing more than $1 million in international equities, but trustees have not yet decided on a specific amount. The money probably would come from employer contributions, Ms. Pires said.
NANA Regional Corp., Kotzebue, Alaska, hired Regis Retirement Plan Services to provide fully bundled services for its three 401(k) plans, which have assets of less than $10 million, said CFO Shelby Stastny.
Previously, the fund used Sirach Capital Management, an affiliate of Regis, for investments, and Kibble & Prentice for record keeping and administration.
Regis will provide nine investment options - including NANA's first international equity option and three lifecycle funds. Enhancements to the plan include daily valuation and transfers, and quarterly statements. Those services had been provided semiannually.
CNA Insurance Cos., Chicago, hired Westridge Capital Management and Walsh, Greenwood to manage an enhanced index fund, a new group annuity product.
The Index 500 Plus offers 25 basis points per year over the return for the S&P 500 index, including reinvested dividends. The three-year contract, underwritten by CNA's sister company, Continental Assurance, is aimed at pension funds with $5 million or more to invest in a single deposit.
Hagen Kurth Perman & Co., a Seattle accounting firm, hired Regis Retirement Plan Services to provide fully bundled services for its 401(k) plan, which covers about 40 employees.
The company previously used IPC for administration and record keeping. Investments will remain with Sirach, an affiliate of Regis, but with daily valuation and transfers.