Carpenters, Southern Illinois, Belleville, hired Cutler to manage $5 million each in active domestic value equities and active domestic fixed income its the $105 million pension plan, said Thomas K. Eversmann, administrator. Funding came from terminating Merrill Lynch for performance; it managed $3 million in active domestic midcap growth equities. The remainder came from rebalancing. The plans asset allocation is 45% equity, 50% fixed income, 3% real estate and 2% cash. Fiduciary Consultants advised.
Erik Hendrickson, spokesman for Merrill Lynch, did not respond by press time.