nIt was incorrectly reported in the April 29, page 1 story, “Adjustable plan design begins to gain converts” that the adjustable pension plan was conceived by Richard Hudson of Cheiron Inc. The APP was developed by other Cheiron executives working with David Blitzstein, special assistant for multiemployer funds at the United Food and Commercial Workers International Union; Skip Halpern, area president of Gallagher Fiduciary Advisors LLC; and Barry Slevin, president of Slevin & Hart PC. Mr. Hudson, principal consulting actuary at Cheiron, did, however, conceive the idea to name this retirement plan concept the “APP.”
nBlackRock Inc. managed $3.9 trillion as of March 31. Incorrect information was in the April 29, page 1 story, “Hedge funds zoom in on mutual funds.”
nA question posed to South Carolina State Treasurer Curtis M. Loftis Jr. was attributed to the wrong person in the April 29, page 18 story, “South Carolina panel tussles with state treasurer.” Edward N. Giobbe, vice chairman of the South Carolina Retirement System Investment Commission, asked: “Why don't you start behaving yourself and start acting like a human being?”
In the same story, the word “negatively” was mistakenly included in a statement by Darry Oliver, the commission's chief operating officer. The statement should have read: “This situation is impacting my ability to do my job.”
nElaine Sarsynski is executive vice president and head of the retirement services division at Massachusetts Mutual Life Insurance Co., Springfield, Mass., and chairman, president and CEO of MassMutual International LLC, the MassMutual international insurance division. Her titles were incomplete in the Face to Face interview on page 30 of the April 29 issue.