Sheet Metal Workers Local 27, Farmingdale, N.J., hired MassMutual...

Sheet Metal Workers Local 27, Farmingdale, N.J., hired MassMutual Retirement Services to provide record keeping, communications, administration and some investment management for its $50 million multiemployer defined contribution plan, said Thomas B. Stapleton, president, business manager and chairman of the fund. These services were provided by Stacey Braun Associates, New York, which had managed all of the investment options, but the investment options were limited to bond and government bond funds, Mr. Stapleton said. Stacey Braun will continue to manage a U.S. government bond fund. MassMutual will run a money market and three lifestyle funds with varied stock and fixed-income mixes, called the Destiny funds. The lifestyle funds are conservative, moderate and aggressive, according to Marty McDonough, a MassMutual spokesman. The remaining options are: a core equity fund by David L. Babson; Total Return, OppenheimerFunds; equity growth, American Century Retirement Plan Services; indexed equity, Barclays Global Fund Advisors; and a midcap growth fund run by T. Rowe Price.