Workers Compensation Reinsurance Association, St. Paul, Minn., is conducting an invitation-only search for an active domestic fixed-income manager to run $100 million, said Keith Summers, investment manager of the $1.4 billion investment pool. Funding will come from rebalancing. Invitations have been sent to managers, and proposals have been narrowed down, said Mr. Summers. A decision will be made in June, he said.
The association also changed its domestic equity allocation to 100% benchmarked to the Russell 3000 index, from 70% Russell 1000 index and 30% Russell 2000 index, he said. No managers will be terminated, he added.
Lawrence F. McCullock has been named executive director of the $518 million Oklahoma Law Enforcement Retirement System, Oklahoma City. Mr. McCullock replaces Mary Haning, who retired late last year. He has been assistant executive director since December 1998. Before that, he was comptroller for the Oklahoma Public Employees Retirement System.