Ethyl Corp., Richmond, Va., will shut down its pension plan at the end of the year and set up an identical one next year, because current plans to tap its surplus pension assets will shrink the fund from $546.4 million to $60 million. "We will have enough in the new plan to keep all the existing managers, if we wanted to. We have not decided what we are going to do, said Mary Habel, director of employee benefits.
The current managers will be reviewed, she said. They are: Neuberger Berman, Oppenheimer Capital and Sound Shore Management, domestic value equities; Scudder Kemper, international equities; and Montag & Caldwell and Provident, domestic growth equities.
Evaluation Associates is assisting.