O'Neal Steel Inc., Birmingham, Ala., hired New York Life Benefit...

O’Neal Steel Inc., Birmingham, Ala., hired New York Life Benefit Services to manage the fund’s entire $50 million in assets in a balanced portfolio. Funding comes from terminating Weiss Peck & Greer, which managed the money in active domestic large-cap equities. New York Life is also trustee, administrator and record keeper; officials for the plan wanted to save money by having one provider for all services, said Jackie Breazeale, benefits manager for the fund.