MAUMEE, Ohio — The Andersons Inc. hired Sky Trust as global custodian for its $24 million pension plan, said Linda Lager, benefits administrator. Sky Trust replaces Key Bank, the plan's longtime custodian, because Sky Trust already handled most of the company's other banking needs, Ms. Lager said. The pension committee may occasionally employ Sky Trust's investment advisers as consultants to the plan, which is internally managed, Ms. Lager said.
AUSTIN, Texas — The $275 million Austin Police Retirement System hired PIMCO to run $15 million in active domestic low-duration fixed income, said Sampson Jordan, pension administrator. Funding came from reducing three active equity portfolios by $5 million each: Brandes now runs $30 million in international value; Nicholas-Applegate, $25 million in domestic large-cap value; and Davis Hamilton Jackson, $15 million in domestic large-cap growth. PIMCO already runs $18 million in active domestic medium-duration bonds for the plan.
HONOLULU — BancWest Corp. added 15 investment options to its $255 million 401(k) plan, effective July 1, raising the total options to 23, said Gerry Keir, executive vice president of corporate communications. The plan will add nine Putnam asset allocation funds, as well as the Dodge & Cox Stock, ICM Small Company Portfolio, PIMCO CCM Capital Appreciation, Eureka Investment Grade Bond and Vanguard Balanced Index and Institutional Index funds.
Putnam is the plan's trustee; Watson Wyatt Investment Consulting assisted.
YARMOUTH PORT, Mass. — Barnstable County Retirement Association hired Segal Advisors as investment consultant to the $295 million pension plan, said Debra Revoir, executive director. The retirement board issued an RFP in April because the contract of longtime consultant Mercer Investment Consulting was expiring; Mercer was a finalist, along with New England Pension Consultants and Dahab Associates.
PHOENIX — Blue Cross Blue Shield of Arizona Inc. hired Fidelity as record keeper and trustee for its 401(k) plan, replacing American Express, said Patsy Rust, benefits specialist. The plan has $46 million in assets, according to the Money Market Directory.
COLUMBUS, Ohio — Bricker & Eckler LLP hired Merrill Lynch as bundled provider of its $40 million 401(k) plan, said Richard Kane, partner and retirement committee chairman. Merrill will offer three investment choices: a self-directed brokerage account; a core group of mutual funds yet to be chosen; and a managed account, in which participants will meet with an Ibbotson Associates representative to determine individual allocations among the core group of mutual funds.
Plan participants now choose between a common investment pool, run by four external managers, and a self-directed brokerage account, Mr. Kane said. He would not name the outside firms. The retirement committee decided the common pool approach did not meet the needs of participants of a variety of ages, Mr. Kane said, and the internal administration for the plan was becoming a burden.
The committee hopes to complete the transition by the beginning of the fourth quarter, he said.
BROCKTON, Mass. — The $181 million Brockton Contributory Retirement System hired Boston Co. Asset Management to run $5 million in an active commingled emerging markets equity fund, said Harold P. Hanna, executive director. Funding will come from the city's annual appropriation, he said. Boston Co. Asset also runs $14 million in active domestic midcap value equities for the plan; it was hired for the emerging markets portfolio because the firm was a "known entity," Mr. Hanna said.
Wainwright Investment Counsel assisted.
SAN JOSE, Calif. — Cadence Design Systems Inc. will add the BNY Hamilton Small Cap Growth fund as an investment option in its $225 million 401(k) plan, replacing the Lord Abbett Developing Growth fund, said Cindy Conway, group director of corporate benefits.
J.P. Morgan is bundled provider, record keeper and trustee. Arnerich, Massena assisted.
PLANO, Texas — Cinemark USA Inc. hired AMVESCAP Retirement as bundled provider of its $15.8 million defined contribution plan, said Bradley S. Smith, director of human resources. Merrill Lynch was the previous bundled provider. Veritas assisted. Further details were not available by press time.
DETROIT — Compuware Corp. added the Nicholas-Applegate high-yield and AXA Rosenberg active small-cap funds as investment options in its $350 million 401(k) plan, said Kathy Igoe, benefits manager. Plan officials also dropped the Strong High Yield Bond fund, bringing the number of investment options to 20, including company stock, Ms. Igoe said.
DENVER — Curian Capital hired CRA RogersCasey as consultant to the firm's investment policy committee. CRA RogersCasey will review money managers and capital markets, consult on manager allocations and conduct performance analysis.
NEW YORK — Deutsche Bank hired Northern Trust as global custodian of $1 billion in U.S. pension assets, replacing State Street Bank, according to industry sources. Deutsche Bank had issued an RFP, the sources said. Further details were not available.
STAMFORD, Conn. — DMG Information Inc. hired MassMutual Retirement Services as the bundled provider for its $13 million 401(k) plan, said Paul Sykes, CFO. The plan was created recently by consolidating six 401(k) plans, each with different providers, Mr. Sykes said. The combined plan now offers 16 investment options, all from MassMutual.
MOLD, Wales — The Flintshire County Council Clwyd Pension Fund hired ABN AMRO Mellon Bank as the %pound;450 million ($747 million) plan's global custodian, according to filings with the European Union. The firm replaces Deutsche Bank, which sold its custody business to State Street Corp. in November.
Philip Latham, principal accountant, declined to comment, citing council policy.
NEW YORK — IBEW, Local 3, Elevator Division Retirement Benefit Plan hired Principal Global Investors to manage $14 million in enhanced fixed income, said Karen Campbell, administrator at the $40 million pension plan. Funding came from terminating Loomis Sayles, which ran the money in active domestic fixed income, because of performance, Ms. Campbell said. Christopher Lazzaro, Loomis Sayles spokesman, did not return calls seeking comment by press time.
Reynolds Securities assisted.
MATTOON, Ill. — The Illinois Consolidated Telephone Co. hired Rothschild Asset to manage $4 million in active domestic small-cap core equities, a new allocation, said Steve Grissom, treasurer. Funding came from taking $3 million from an active domestic large-cap value equity portfolio managed by Pacific Financial Research, leaving it with $10 million, and pulling $1 million from an active domestic fixed-income portfolio run by Northern Trust, which now has $18 million. Plan officials think the current market provides an ideal climate for trying small-cap equities, Mr. Grissom said.
Consultant Robert W. Baird assisted the $48 million pension plan.
SAN DIEGO — Jack In The Box Inc. added the Oakmark Equity and Income Fund as an investment option in its $70 million 401(k) plan, said Nancy Caccese, retirement plans manager.
It also dropped three Dreyfus LifeTime Portfolio funds; Ms. Caccese said plan officials decided to move away from lifestyle funds.
Mellon HR Solutions is bundled provider.
ITASCA, Ill. — Knowles Electronics LLC will add the PIMCO Capital Appreciation fund as an investment option in its $30 million 401(k) plan and drop the Vanguard U.S. Growth fund, said Connie Greve, director of corporate benefits. J.H. Ellwood and Associates assisted.
LIVONIA, Mich. — The $196 million Livonia Employees' Retirement System hired Rodwan & Nichols as actuary, said Charlene Studstill, program supervisor. The plan issued an RFP at the beginning of the year because trustees felt it was their fiduciary duty to consider other firms, Ms. Studstill said. Previous actuary Gabriel, Roeder, Smith was allowed to rebid.
LOS ANGELES — The $5.2 billion Los Angeles Water and Power Employees' Retirement Plan hired MFS and Merrill Lynch to run $212 million each in active domestic large-cap value equities, said Duamel Vellon, retirement plan manager. Funding came from incumbent equity managers Standish Mellon, TCW and Boston Co.; further information was not available.
IRVINE, Calif. — MonierLifetile LLC hired MassMutual Retirement Services as administrator, investment provider and record keeper for its $23 million 401(k) plan and its $13 million defined benefit plan, which is frozen, said Evelyn Nazario, benefits, compensation and systems manager. American Express was the record keeper and investment manager for the 401(k) plan, and CIGNA was the administrator and manager for the defined benefit plan. Company officials wanted a single provider for both plans, she said.
MINEOLA, N.Y. — Nassau County Deferred Compensation Plan hired Segal Advisors on a per-project basis to review the $500 million plan, said Jane Levine, chief deputy comptroller.
RENO, Nev. — Navellier Management hired Integrated Fund Services to provide administration, fund accounting and transfer agency services for the $262 million Navellier Funds, said Janice Rushing, Navellier spokeswoman.
Navellier will replace FBR National Bank and Trust. Ms. Rushing declined to provide further details.
SANTA FE, N.M. — The $6 billion New Mexico Educational Retirement Board hired Fidelity Management Trust to handle $170 million in an enhanced EAFE index portfolio, said Frank Foy, chief investment officer. Funding came from terminating Bank of Ireland, which ran the money in active international equities, Mr. Foy said. Bank of Ireland's four-year contract expired, and state law required an RFP to be issued, he said. Bank of Ireland rebid. Wilshire Associates assisted.
ALBUQUERQUE, N.M. — University of New Mexico hired Northern Trust as master custodian for its $170 million endowment, according to a fund official who declined to be named. Northern Trust replaced State Street Corp., effective July 1.
OKLAHOMA CITY — Oklahoma Public Employees Retirement System hired UBS Global Asset Management to run $40 million in active domestic small-cap growth equities, said Kirk Stebbins, chief investment officer. Funding came from terminating Loomis Sayles, which ran the $40 million portfolio in a similar style; officials at the $5 billion plan wanted a manager with a lower tracking error relative to the Russell 2000 benchmark.
HARRISBURG, Pa. — Pennsylvania Public School Employees' Retirement System approved a commitment of up to $125 million to Platinum Equity Capital Partners, according to Evelyn Tatkovski, spokeswoman for the $38 billion fund. The fund's board also approved a commitment of up to $100 million to Avenue Asia Special Situations Fund III, switching from a previous commitment to the private equity firm's Fund II.
DENVER — Sherman & Howard LLC will add the Dodge & Cox Balanced and Julius Baer International Equity funds as investment options in its $60 million 401(k)/profit-sharing plan, said Jane Brown, retirement plan manager. It will also drop the INVESCO Total Return and Janus Worldwide funds, she said.
In February, the plan added the Vanguard MidCap Growth, Harbor Capital Appreciation and Hotchkis and Wiley Mid-Cap Value funds, and dropped the Chesapeake Growth, Janus Mercury and American Century Value funds, she said.
Milliman USA is the record keeper. Watershed Investment Consultants assisted.
SALEM, N.H. — Standex International Corp. will invest an unspecified amount in a State Street Global Advisors market-neutral hedge fund, the plan's first, according to a Standex official who asked not to be identified. He did not identify the source of funding.
New England Pension Consultants is assisting. The plan has $162 million in assets, according to the Money Market Directory.
MOUNTAIN VIEW, Calif. — Synopsis Inc. will add a Fidelity TIPS investment option in its $150 million 401(k) plan, said Kevin Syvrud, human resources director. The company's 401(k) committee wanted to add the option to compensate for market volatility, Mr. Syvrud said. The plan offers 13 investment options. Fidelity is bundled provider. Investment consultant Schultz Collins assisted.
TAMARAC, Fla. — The $16 million Tamarac City Firefighters' Pension Trust Fund hired Smith Barney as investment consultant, replacing Dahab Associates, said Dan Gatzulis, administrative manager with third-party administrator First Benefit Services.
CLEARWATER, Fla. — Tech Data Corp. hired Fidelity as trustee and record keeper for its 401(k) savings plan, replacing Scudder, according to Lawrence Hamilton, senior vice president of human resources, and Tara Tucker, benefits manager. Plan officials were concerned about Scudder's long-term viability after former parent Deutsche Asset Management sold the record-keeping business to Automatic Data Processing earlier this year, they said. Scudder was allowed to rebid.
PricewaterhouseCoopers assisted. Tech Data has $36 million in retirement assets, according to Money Market Directory.