Iron Workers, Local 512, St. Paul, Minn., committed a combined $25 million to American Realty Advisors Stable Value fund and another real estate fund, the $175 million plan's first real estate commitments, said Charlie Witt, business manager. Mr. Witt would not name the second fund because a contract with the firm has not been finalized. Plan trustees have not determined how much each fund will receive. Funding will come from reducing the portfolios of some of the plan's lower-performing managers, but those portfolios have not been selected.
The plan's current target asset allocation is 60% equity and 40% fixed income, he said. Consultant Investment Performance Services is assisting.
