The newly privatized Transport Research Laboratory in Crowthorne, England, hired Sedgwick Noble Lowndes to provide pension administration, consulting and actuarial services for its new pension plan. Employees previously had been covered by the U.K. government's Principal Civil Service Pension Scheme. Benefits under the new schemes will be comparable.
Assets covering past service of employees who choose to switch to the new scheme will be transferred later this year. The lab, which was acquired by Transport Research Foundation in a management buy-out, has 450 active employees.
