ALTOONA, Pa. -- Altoona Hospital selected Banc One to manage $20 million in core fixed income for its $120 million funded depreciation account. Banc One replaces Sanford C. Bernstein, which was terminated because of performance. Officials at Bernstein did not comment by press time.
Capital Resource Advisors assisted.
Applied Systems Inc.
UNIVERSITY PARK, Ill. -- Applied Systems Inc. hired MassMutual Retirement Services as bundled provider for its $17.5 million 401(k) plan and revamped its investment options, said Tim Hillenbrand, Applied Systems benefits coordinator.
The new lineup of investment fund options is: OppenheimerFunds high-yield bonds and international equity; David L. Babson core equity, small-cap equity and GIC; MassMutual growth equity; MassMutual midcap growth; MassMutual small-cap growth; MassMutal S&P 500 index; four MassMutual lifestyle asset allocation funds; and a State Street Global Advisors self-directed brokerage account.
First Midwest had been the plan record keeper, and it used the AIM family of mutual funds.
TORONTO -- Clarington Funds hired Arrowstreet Capital to manage the Clarington RSP Select Global Balanced fund, which opened in February. The fund is available as an option in defined contribution plans.
Delaware Motor Group
WILMINGTON, Del. -- Delaware Motor Group, Wilmington, hired Brandywine Benefits as bundled provider for its new $2.4 million 401(k) plan. The plan replaces a previous defined contribution plan in which employees were not allowed to direct their contributions and for which the NADA Retirement Trust was bundled provider.
The plan has 24 fund options.
Hispanic Broadcasting Co.
DALLAS -- The Hispanic Broadcasting Co. selected Diversified Investment Advisors as bundled provider for its $10 million 401(k) plan, replacing Key Corp. It made the change for diversification and because of Diversified's marketing to Spanish-language participants, said Ellen Fox, director of human resources.
Buck Consultants assisted.
ANDOVER, England -- HSA Healthcare hired Rothschild Asset Management to manage 150 million ($238 million) in U.K. equities and bonds.
The assets are part of the group's insurance reserves and had been managed in-house.
Iron Workers Local 17
CLEVELAND -- Iron Workers Local 17 selected Putnam as bundled provider for its new $42 million defined contribution plan.
The plan's 10 options are: Putnam stable value fund, S&P 500 index fund, growth opportunity fund, balanced fund, OTC and emerging growth fund, conservative portfolio, balanced portfolio and growth portfolio; PIMCO Total Return fund; and Federated stock fund.
IRONWOOD, Mich. -- The Ironwood Police and Fire Pension System and Ironwood General Employees Retirement System hired Portfolio Analytics as consultant. The systems, with about $6 million each in assets, have not had outside consultants before, said Julie Frederickson, finance director.
Lockheed Martin Energy
OAK RIDGE, Tenn. -- Lockheed Martin Energy Systems added two new options, Manager Funds special equity fund and American Funds Europacific fund, to its $1 billion 401(k) plan, said Maureen Williams, manager, pension and savings. The funds were added for diversification.
State Street Bank and Trust is bundled provider.
OAKLAND, Calif. -- Mills College hired Artisan Partners and Bank of Ireland to manage $10.3 million each in international equity, said Peter Michell, vice president for finance administration and treasurer. The new managers replace international core manager Grantham Mayo Van Otterloo, which the $175 million endowment terminated for performance-related reasons and to diversify its international portfolio. A GMO spokesman declined to comment on the termination.
Mitchell Williams Selig Gates
LITTLE ROCK, Ark. -- Mitchell Williams Selig Gates and Woodyard hired Diversified Investment Advisors as bundled provider for its 401(k) plan. Mercantile Bank was the $6 million plan's previous bundled provider, said Nancy Collins, director of operations.
Monro Muffler Brake Inc.
ROCHESTER, N.Y. -- Monro Muffler Brake Inc. selected Diversified Investment Advisors as bundled provider for its new 401(k) plan, which has $16 million in assets, said Brad Schramek, vice president of human resources. Ten fund options are being offered.
Mutual of Omaha Insurance
OMAHA, Neb. -- The Mutual of Omaha Insurance Co. selected J.P. Morgan as a domestic midcap to large-cap value manager, replacing KPM Investment Management, which was terminated for performance-related reasons, according to a Mutual of Omaha spokesman. KPM President Rod Cerny declined to comment on the termination. The plan has $375 million in assets, according to the Money Market Directory.
ROCKFORD, Ill. -- NECA-IBEW Local 364 Defined Contribution Plan hired Conseco to manage a $7.5 million fixed-income portfolio. The $90 million multiemployer money purchase plan eventually will increase the portfolio size to $15 million, said Ted Disabato, managing director at consultant Disabato Associates. Funding comes from existing cash.
The plan also added three options: Fidelity Growth Company Fund; Templeton Foreign Fund; and an INVESCO small-cap fund. Fidelity is record keeper and administrator.
Nevada Public Employees
CARSON CITY, Nev. -- The $13.2 billion Public Employees Retirement System of Nevada selected Lincoln Capital Management to manage a $400 million Lehman Aggregate Bond index portfolio. Funding came from cash.
New Orleans City Employees
NEW ORLEANS -- The $380 million New Orleans City Employees' Retirement System hired two international equities managers. Waddell & Reed will run $10 million and US Trust will run an as yet undetermined amount.
Morgan Stanley Dean Witter assisted.
NYC Board of Education
NEW YORK -- The New York City Board of Education, with $1.9 billion in pension assets, hired Merrill Lynch to manage $700 million in a passive Russell 3000 U.S. index strategy, replacing Deutsche Asset Management, said Nicole Lise, spokeswoman for New York City Comptroller Alan Hevesi.
New York State Nurses
ALBANY, N.Y. -- The New York State Nurses' Association hired Northern Trust as custodian and to run a $185 million S&P 500 index portfolio and a $230 million midcap equity portfolio for the $1.4 billion retirement plan. The manager replaces Deutsche Bank in both classes.
North Dakota Public Employees
BISMARCK, N.D. -- North Dakota Public Employees' Retirement System decided to retain Segal Advisors as consultant for its 401(a) and 457 plans, which have $8 million in assets each.
Oakland County Employees
PONTIAC, Mich. -- The $1 billion Oakland County Employees' Retirement System hired Key Asset Management to run $83 million in a large-cap value portfolio and Aeltus Investment Management to run a $41 million growth portfolio, said Doug Williams, chief investment officer. Funding will come from existing managers.
Paul Hastings Janofsky
LOS ANGELES -- Paul Hastings Janofsky & Walker will add the Putnam OTC emerging markets fund as an option in its $110 million 401(k) June 1, said Susan Clarke, retirement and benefits administrator.
City National is the bundled provider.
The Phillips Group
NEW YORK -- The Phillips Group hired MassMutual as bundled provider for its revamped $4 million 401(k) plan, said Judith A. Camlin, head of human resources and administration.
In addition to switching the plan to daily valuation, the company changed all of its investment options.
The new funds, provided by MassMutual or through an alliance partner, are: OppenheimerFunds strategic income global; American Century equity growth; MFS Growth Equity and Investment Equity; Fidelity Equity Income II; MAS Small Cap Growth Equity; MassMutual S&P 500 Index; and four MassMutual lifestyle asset-allocation funds.
Epic Advisors and Economic Group had been third-party administrators for the company's profit-sharing and 401(k) plan, Ms. Camlin said. The investments had been limited to a selection of lifestyle funds.
Puerto Rico Electric
SAN JUAN, Puerto Rico -- The $1.6 billion Employees' Retirement Systems of Puerto Rico Electric Power Authority appointed Edinburgh Fund Managers and Armstrong Shaw Associates each to manage $100 million U.S. equity portfolios. The two managers replace America Re Asset Management, which is closing.
Kalson & Associates advised.
BIRMINGHAM, Ala.-- Samford University hired Commonfund to manage $20 million in alternatives. The $325 million endowment is adding to its alternative investments for diversification reasons. Funding will come from the equity portfolio. Merrill Lynch assisted.
San Antonio Fire and Police
SAN ANTONIO -- The $1.4 billion San Antonio Fire and Police Pension Fund hired MacKay-Shields to manage a $40 million high-yield fixed-income portfolio, said Warren Schott, investment officer. Funding will come from cash.
Salomon Smith Barney assisted.
Sanford Police & Firemen
SANFORD, Fla. -- The Sanford (Fla.) Police & Firemen's Pension Funds selected State Street Global as its first international equity manager, overseeing $3 million for the $31 million plan, said Greg McNeillie, senior consultant at Dahab Associates.
Funding will come from an active domestic equity portfolio formerly managed by SunTrust, which was terminated for performance reasons. Officials at SunTrust did not respond by press time.
Tampa General Employees
TAMPA, Fla. -- The City of Tampa General Employees' Retirement Fund hired Alliance Capital to oversee $100 million in disciplined growth equity, said Andy Hirsch, trustee for the $550 million plan. Mr. Hirsch declined to identify the manager being replaced.
Wyoming Loan and Investment
CHEYENNE -- The State of Wyoming Loan and Investment Board hired Putnam Institutional and Deutsche Asset Management to run $100 million each in international equity. Funding will come from the $3 billion permanent fund's fixed-income portfolio.
R.V. Kuhns assisted