The International Brotherhood of Electrical Workers Local No. 99, Cranston, R.I., completely restructured the operations of its $80 million pension fund, hiring a new plan administrator, consultant, actuary and custodian, said Tom Lynch, business manager. The changes were the result of a new administration at the fund, which reviewed all professional relationships, Mr. Lynch said.
The fund hired Insurance Programmers as its plan administrator and The Hannah Group as its consultant. Those duties previously were handled by LAMCO Corp. Watson Wyatt Worldwide was selected as the fund's actuary, replacing Kimball Akins and Bigwood. State Street Bank was chosen as custodian, replacing Union Bond and Trust.