Springfield (Mass.) Retirement System terminated Earnest Partners, which ran $12 million in active domestic large-cap value equities, and Wachovia, which managed $3 million in active domestic small-cap core equities, said Bill Monagle, managing director for CRA RogersCasey, the plan's consultant. The $250 million pension plan terminated the managers for performance, Mr. Monagle said; the assets will be distributed among the plan's existing managers. Its current asset allocation is 65% equity and 35% fixed income.
Paul Viera, CEO of EARNEST Partners, and Christy Phillips, vice president of corporate communications for Wachovia, did not return calls seeking comment by press time.