New York State United Teachers Employees' Retirement Fund, Albany...

New York State United Teachers Employees' Retirement Fund, Albany, allocated money to the Amalgamated Long View Collective Fund and BEA Associates to replace Neuberger & Berman, which had managed a $55 million S&P 500 index portfolio. The Amalgamated fund, an S&P 500 index fund that is a unit of Amalgamated Bank, will receive $38 million. BEA will manage a $17 million enhanced index stock portfolio. Tim Wyld, plan administrator, said Neuberger was replaced for performance reasons. Neuberger officials did not respond to numerous phone calls. Segal Advisors is the consultant to the $175 million defined contribution fund.