Carpenters' District Council of Greater St. Louis and Vicinity committed $40 million of its $800 million pension fund in General American's Commercial Mortgage/Plus Fund. The fund invests in commercial real estate that is built by unions. The funding is coming from cash, said Dave Bauer, assistant controller.
City of Tallahassee (Fla.) Pension Plan hired Arthur Andersen as an investment consultant. The firm replaces SEI, which was allowed to participate in the $603 million fund's search. Whether the fund will conduct an asset allocation study has not been decided, said Tammy Lavine, investment cash manager.
Tube Processing Corp., Indianapolis, hired T. Rowe Price to provide bundled services for its 401(k) plan.
The firm replaces Charles Schwab as trustee and record keeper for the $12 million plan. The two T. Rowe Price funds that had been part of the plan will be kept, while funds managed by Vanguard, Neuberger & Berman, PIMCO and Morley Capital will be dropped. The number of options will increase to 10 from nine. Oxford assisted.