ST. LOUIS - Officials at CIPSCO Inc., parent of Central Illinois Public Service Co., Springfield, and Union Electric Co., St. Louis, are studying whether their pension and 401(k) funds will be consolidated as a result of merging the two companies.
In defined benefit assets, Union has $925 million and CIPSCO, $290 million. In 401(k) assets, Union has about $500 million and CIPSCO, $100 million.
Officials said it could take a year or more to complete the study and make a decision.
Robert C. Porter was named CIPSCO treasurer, replacing Craig D. Nelson, who was named vice president in the merger transition. Mr. Porter was vice president of the CIPSCO Investment Co. unit, which invests shareholder funds.
Upon the merger, Jere E. Birdsong, Union Electric treasurer, will continue as treasurer of the new merged company, Ameron Corp., while Mr. Porter will become assistant treasurer.