Teamsters Local 445, Newburgh, N.Y., hired Segal Advisors as the first consultant to its $182 million pension fund. Segal will conduct an asset allocation study.
While the Teamsters are not looking to hire money managers, Betty Chomicki, fund administrator, said Segal will review the pension fund and make investment recommendations.
Accurate Attorney Services, Atlanta, hired Sheryl Smith & Associates as its first investment consultant.
The firm will perform an asset allocation study to determine how many and what kind of managers are needed to invest and diversify Accurate's $70 million in assets, including a $50 million 401(k) plan.
Craig J. Robinson, CFO, said Citibank administers Accurate's 401(k) plan.