Alcoa (Tenn.) City Retirement System may conduct shortlist searches this fall for firms to handle its $18 million defined benefit plan and $10 million 401(k) thrift plan, said Ray Richesin, director of finance and administration. No changes have been made in several years, and board members decided the time is right for a search. First Tennessee Bank is investment manager for the pension plan; AmSouth is trustee for the 401(k) plan, which has SEI as investment manager and PFPC as record keeper, Mr. Richesin said. The board is considering hiring one firm to run both plans, but the existing firms may be retained instead, he said.
Bryan, Pendleton, Swats & McAllister is actuary for the DB plan and has served as consultant, but Mr. Richesin said it is too soon to tell whether the firm will assist in the shortlist searches.
