PELLA, Iowa - Pella Corp. introduced to participants last month a restructured $200 million profit-sharing plan, changing some managers and doubling investment choices to eight funds, run by three managers, said William J. Anderson, assistant secretary.
It hired State Street to manage six funds: three life-style-type balanced funds, a conservative, moderate and more aggressive risk orientation; an S&P 500 index fund; a small-cap equity fund; and a stable-value fund.
It hired American Funds, through a State Street alliance, to manage an European-Pacific fund. It retained Sanford Bernstein and an active equity fund it had already been managing for the plan.
State Street will be record keeper; previously it was done in-house.
The plan, which had offered four investment options, dropped a money market fund, run by Vanguard, and a balanced fund, run by ANB Investment Management. The plan will turn over to State Street for the stable value fund GICs the plan had managed in-house.
Mercer Asset Management consulted on the changes