Bergen Brunswig Corp., Orange, Calif., is considering adding several funds to its $200 million 401(k) plan, said Rob Jacobson, cash manager.
It is looking at adding a domestic or global fixed-income fund and also lifestyle funds that blend stocks and bonds in various risk levels from conservative to aggressive.
The company is talking with consultants to get ideas about which funds to add, Mr. Jacobson said. The plan now has 11 investment choices managed by five managers. It hopes to make a decision in six to 12 months.
State of Wisconsin Investment Board, Madison, released a list of companies that agreed not to reprice stock options. In exchange, SWIB dropped plans to sponsor shareholder resolutions on the issue at the companies.
They are: Autoimmune Inc.; Cephalon Inc.; Cocensys Inc.; Compuware; Electroglas Inc; Exide Corp; IBAH Inc.; Martek Biosciences Corp.; Mesa Air Group; Mexstar Pharmaceuticals Inc.; Ostex International Inc.; Powercerv Corp.; Quickturn Design Systems Inc.; and U.S. Bioscience Inc.
In addition, Matrix Pharmaceutical Inc. amended its bylaws to disallow repricing of options. And Connectics Corp., which is 55% owned by insiders, agreed to contact its largest shareholders before repricing.
A SWIB spokeswoman said the $55 billion fund is still negotiating with two other companies whose filing deadline is later in the year.
St. Joseph Health System, Orange, Calif., may add an S&P 500 index fund and a socially responsible investment fund to its defined contribution plan, said Dave Schinderle, treasurer. Officials are considering Vanguard for the index option and the Domini 400 Fund managed by Mellon Equity. The fund has more than $100 million in assets and five options. A decision is expected later this year.
Steven Wallman, former SEC commissioner, and Howard Newman, former administrator of the Health Care Financing Administration, have been nominated by the Service Employees International Union, Washington, as independent candidates for the board of Columbia/HCA Healthcare.
The SEIU is one of 12 institutional shareholders that has sued Columbia in a derivative lawsuit against present and former Columbia officers and directors. Mr. Wallman is now a fellow at the Brookings Institution, and Mr. Newman is a professor at New York University's Robert F. Wagner Graduate School of Public Service.
IBEW Local #99, Cranston, R.I., will hire a U.S. bond manager for its $60 million trustee-directed defined contribution plan later this year. A timetable for the search has not been established yet.
The search is a result of a recent asset allocation study, said Tom Lynch, business manager and trustee. Portfolio size has yet to be determined. No managers will be terminated. Advest is assisting the union.
