The IRS ruled that Idaho can extend its 401(k) plan to all employees in the $7.3 billion Public Employees’ Retirement System of Idaho Defined Benefit Plan, Boise.
The private-letter ruling, which was directed only to the state, said the plan — which was available only to employees of Idaho’s health and welfare and lands departments — can be extended to employees of local school districts, political subdivisions and other state entities.
Milwaukee Deferred Compen-sation Board named Merrill Lynch, Morley Capital and State Street Global as finalists in its search for a stable-value bond manager to handle $118 million for the $4 billion deferred compensation plan. The firms will be interviewed April 26, said Gary Brazgel, executive director. Incumbent PRIMCO rebid. Mr. Brazgel said the plan undertook the search to see what the stable-value industry had to offer.
