PhyCor Inc., Nashville, Tenn., revamped its $300 million defined contribution plan.
The GlobeFlex Growth Fund offered by GlobeFlex Capital was replaced by a fund of funds made up of the MFS Research A Fund and the Janus Fund.
The Templeton Foreign Fund was added to PhyCor's foreign equity option and the Franklin Small-Cap Growth Fund was added to PhyCor's aggressive growth fund of funds.
PhyCor cut back fund options to 12 from 14, said John Von Arb, manager of benefits. Dropped were The Vanguard/Wellington Fund, a balanced fund, and a balanced portfolio managed by Thompson Siegel & Walmsley.
Also, Northern Trust will replace Swats and McCallister as record keeper. Northern will handle PhyCor's employee-stock fund and self-directed brokerage option, as well as its stable value, bond and S&P 500 index funds.
Northern Trust Asset Consulting assisted.
Lakeland (Fla.) Employees Retirement System hired Rice, Hall, James & Associates as a small-cap equity manager for a $25 million portfolio, said Gary Clark, pension funds administrator. Funding will come from cash and reallocation; no managers are expected to be terminated. Advest assisted.
K&B Inc., New Orleans, hired Zak Capital to manage a $15 million U.S. midcap growth equity portfolio for K&B's $100 million 401(k) plan, replacing Investment Advisers Inc. Zak was opened last month by former IAI portfolio manager Suzanne Zak. Prudential Securities assisted. No other searches are planned