Local Authorities Pension Plan, with C$7.8 billion (U.S.$5.2 billion)...

Local Authorities Pension Plan, with C$7.8 billion (U.S.$5.2 billion) in assets, and the C$1.5 billion Universities Academic Pension Plan are in the process of withdrawing from the control of the Alberta Treasury, which makes all investment management decisions for the Edmonton-based funds. The move to independence for two defined benefit plans could be completed by next summer, said Ron Liteplo, CEO of Local Authorities. Alberta Treasury currently manages C$13 billion in pension assets, he added. If the two plans leave the treasury, the boards would have the authority to hire and fire managers and set investment policy.