Marquette University, Milwaukee, is conducting an asset allocation study of its $210 million endowment, said John H. Hansen, director-treasury services and assistant vice president-finance. The study should be completed in the fourth quarter, and manager changes are possible, Mr. Hansen said. Prime Buchholz is assisting.
Wisconsin Department of Employee Trust Funds, Madison, is searching for a manager to provide a lifecycle fund option for its $1 billion 457 plan. The search is being handled internally. The plan's investment committee is expected to present finalists at a May 2004 board meeting, according to Shelly Schueller, deferred compensation director.
Menomonee Falls (Wis.) Medical Associates will likely issue an RFP for a new bundled provider for its $40 million 401(k)/profit-sharing plan, said Bob Swanson, director of human resources. The search is in response to an investigation by the New York attorney general of incumbent bundled provider Strong, which will be allowed to rebid, Mr. Swanson said. The RFP will be issued after the plan hires a new investment consultant from a list of finalists, which is expected by year's end, he said. That search began in July. Drew Wineland, spokesman for Strong, did not return a call seeking comment by press time.
Plexus Corp., Neenah, Wis., will search next year for a bundled provider for its $60 million 401(k) plan, said Jaye Ciontea, retirement plan administrator. Plan officials, who last searched for a bundled provider about three years ago, will conduct the search as part of their due-diligence process, and incumbent MFS will be allowed to rebid, she said. A selection will likely be made by the end of the second quarter.
Baltimore City Employees' Retirement System will likely begin a search for an actuary next year, said Roselyn H. Spencer, executive director. The $1.2 billion system's five-year contract with incumbent Mercer Human Resource Consulting will expire in 2005, she said. Details of the search have not been finalized.
Oklahoma Teachers' Retirement System, Oklahoma City, next spring will likely issue an RFP for a firm to handle its global custody and securities lending operation, said Tommy C. Beavers, executive secretary. Incumbent Northern Trust's one-year contract was renewed for the fifth time beginning Nov. 1, and the search might be canceled if the firm agrees to keep its existing fee structure, Mr. Beavers said. The $6.1 billion system "owes it to taxpayers and participants to see if we can get a better deal," he said. The search will likely be handled internally.
Evanston (Ill.) Firefighters' Pension Fund will review its asset allocation early next year and might increase growth equities, said William Stafford, city finance director. The $35 million plan has $3 million in growth, but plan officials want to add $1 million currently in value equities, Mr. Stafford said; the move would leave the plan with a $6.5 million value portfolio. The plan's asset allocation is 70% fixed income and 30% equity. Smith Barney will assist.
Springfield (Mass.) Retirement System might add a new real estate allocation, pending the results of an asset allocation study that should be completed by January, said Joe O'Reilly, managing director at CRA RogersCasey, the $230 million plan's consultant. Any manager searches would not begin before the end of the first quarter. Board members have also been holding discussions about hedge funds, but Mr. O'Reilly said those talks are in the early stages.
Kuhlman Electric Corp., Versailles, Ky., in January might reopen its search for a bundled provider for its three 401(k) plans, said Betty Spaulding, payroll and benefits manager. The search, begun last year, was halted because of internal company issues, she said. If the search is reopened, Kuhlman might also seek new investment options. Mellon HR Solutions is the current bundled provider. The plans have the same six investment options and have combined assets of $11 million, according to the Money Market Directory.
Save Mart Supermarkets, Modesto, Calif., might add a real estate fund as an investment option in its $185 million 401(k) plan, said Vickie DelRe, benefits supervisor. Plan officials began reviewing the asset class earlier this year, she said, but will wait until after Jan. 1 before making any changes.
Arapahoe County, Littleton, Colo., might add a new small-cap to midcap equity allocation next year, said Bernie Ciazza, pension board chairman and county treasurer. Officials for the $145 million pension fund will decide after a manager review and asset allocation study planned for January. Watershed Investment Consultants will assist.
