Thirteen pension funds - four corporate, six public and three Taft-Hartley plans - joined the Council of Institutional Investors as the newest full members.
The new corporate members are: Compaq Computer Corp., Marriott International, Morgan Guaranty Trust Co.'s own pension fund, and Navistar Corp.
The new public members are: the Indiana Public Employees Retirement Fund, which received authority to invest in equities only last year, Hartford City Municipal Employees Retirement Fund, Massachusetts Pension Reserves Investment Management Board, Milwaukee City Employees' Retirement System, Montana State Board of Investments, and the Virginia Retirement System.
Two pension funds dropped out: Consolidated Freightways Inc. and the Detroit City General Retirement System.
As a result of the changes, 108 pension funds belong as full members, made up of 55 public, 28 corporate and 25 Taft-Hartley funds.
In the endowment category, the Navy-Marine Corps Relief Society joined, while the Texas Permanent School Fund dropped out. The changes kept the endowment membership at two funds. The Jessie Smith Noyes Foundation is the continuing endowment member.