New York State Deferred Compensation Plan, Albany, hired Evaluation Associates and Callan Associates to provide consulting services to the $6.5 billion plan's board, according to Julian Regan, executive director. Evaluation was re-hired to provide general services and consult for the plan's stable value fund. Callan's hiring is new; the firm will help the board evaluate the plan's investment structure and will assist in any manager searches and hirings that result from the evaluation.
The board also voted to drop the Putnam International Equity fund from the plan's lineup of 31 investment options. Mr. Regan pointed out that the fund had been closed to new investments since January 2004 because of its involvement in the market-timing scandal.
"We're disappointed in their decision and hope to manage money for them in the future," said Laura McNamara, Putnam spokeswoman.