SCOTTSDALE, Ariz. -- PCS Health Systems Inc. has hired new managers for its $110 million defined contribution and $24 million defined benefit plans, and added two options to the defined contribution plan.
The Northern Trust Co., Chicago, has been selected semi-bundled provider for the 401(k) plan, and administrator and sole money manager of the defined benefit plan, said Denise Eisen, PCS director of employee benefits and services.
Eli Lilly & Co. Inc. sold PCS to Rite Aid Corp. in a deal that closed in January. Although always separate, PCS plans' investments previously mirrored those of Lilly's plans.
The new options are a long-term bond fund managed by Dodge & Cox, San Francisco, and a Rite Aid stock fund, Ms. Eisen said. The other options are: a stable income fund, a Standard & Poor's 500 stock index fund and a small-cap equities fund, managed by Northern; Janus Overseas, which replaces a similar fund; the Lilly Stock fund, although PCS employees no longer will be allowed to contribute to it; the Select Stock fund, Roxbury Capital Management; and the Brinson Global fund, Brinson Partners. The defined benefit plan will be in Northern Funds equities, international growth, small company index, bond portfolio and short-term and cash funds.
