Idaho Public Employees Retirement System, Boise, imposed a one-day transfer restriction on the international equity fund options in its $126.5 million defined contribution plan, said Alan H. Winkle, executive director of the system.
The international funds are Brandes International Equity and Mellon International EAFE Index, said Gay Lynn Bath, defined contribution plan specialist. Fund officials are working with the plan's record keeper, Mellon, to implement the policy. It was imposed because plan participants were moving money between the international funds and the stable value fund, causing the record keeper to increase its costs and the plan to underperform by 156 basis points, Ms. Bath said.
