Iron Workers of Western Pennsylvania, Pittsburgh, will add three separately managed equity accounts to its 401(a) plan, effective Oct. 1. The funds are all managed by Strong, said Boe Gillespie, administrative manager for the $160 million plan. The new accounts will give the plan 10 investment options.
The plan also will phase out three separate balanced accounts managed by Strong at the end of March. These funds are no longer necessary with the addition of the equity funds, Mr. Gillespie said.
Administration, record-keeping and trustee duties are handled in-house.