County of Saginaw, Saginaw, Mich., is moving to a defined contribution plan for all new employees and will offer its 600 current employees a chance to convert defined benefit plan account values to the new plan.
Conversion will be staggered, beginning in October, said Cathy Snyder, administrative director. Educational Technologies will provide education and assistance to county employees, she said. Because the county has not yet told all employees about the changes, Ms. Snyder declined to provide more details.
Austin (Texas) Police Retirement Fund trustees will interview four consulting firms to in a search for a firm to conduct reviews of the fund.
Holbein Associates, DeMarche Associates, Monroe Vos Consulting Group and Investment Management Consulting will make presentations to the $200 million fund's investment committee in August. The new firm will complete an asset liability study, asset allocation study, an investment policy review and a custodial services review.