The Pentegra Group, White Plains, N.Y., manager of the $450 million...

The Pentegra Group, White Plains, N.Y., manager of the $450 million Federal Institutions Thrift Plan, will switch investment management of the five options offered within the bundled program to Mellon Bank Jan. 1, said Mike Reynolds, Pentegra president. The plan is a standardized, multiemployer defined contribution plan for home loan banks and other financial services companies. The five asset classes now offered will be maintained. Mellon will assume management of the commingled funds from Bankers Trust and State Street Bank.