Shelby County Deferred Compensation Plan, Memphis, Tenn., rehired Nationwide as bundled provider of the $60 million 457 plan, said David Pontius, manager of pension investments. Plan officials began a search about 18 months ago, Mr. Pontius said. Officials reduced investment options to 25 from 50, eliminating funds because of performance and "bad press," he said. A brokerage window was added so participants could still access funds that were dropped. Mr. Pontius declined to identify the terminated options. Mercer Investment Consulting assisted.
As of December 2002, the Money Market Directory listed the plan's managers as American Century, Capital Research, Dreyfus, Evergreen, Fidelity, MFS, Morgan Stanley, Nationwide, Neuberger Berman, T. Rowe Price, Putnam, SEI and Franklin Templeton.
