Cooper Tire & Rubber Inc., Findlay, Ohio, hired Bank of New York and Banc One Investment Advisors to run $50 million each in Lehman Aggregate index funds for its salaried and hourly defined benefit plans, which together have $550 million in assets, said Charles F. Nagy, assistant treasurer. He would not name the funding source. Merrill Lynch Consulting Services assisted. Plan officials may also conduct an asset-liability study later this year, Mr. Nagy said. Details have not been finalized.
Separately, Cooper Tire may add a Barclays Global Investors Lifestyle portfolio as an investment option in its seven pre-tax 401(k) savings plans, Mr. Nagy said. He would not elaborate on the plan's other investment options. According to the Money Market Directory, the plans have $61.2 million in assets.