News: 2008 3rd Quarter

New Clients

Recently Completed Projects

  • IFS as Independent Fiduciary for AMR Plans

    Independent Fiduciary Services (IFS) served as independent fiduciary to numerous ERISA plans sponsored by AMR Corporation (parent of American Airlines).  Our role as the “independent third party” on behalf of the Plans is highlighted in the following excerpt of a public announcement from AMR:   FOR RELEASE:  Monday, Sept. 15, 2008 

    AMR CORPORATION COMPLETES SALE OF AMERICAN BEACON ADVISORS, INC. TO LIGHTHOUSE HOLDINGS, INC., AN AFFILIATE OF PHAROS CAPITAL GROUP, LLC AND TPG CAPITAL, L.P.

     

    FORTH WORTH, Texas - AMR Corporation, the parent company of American Airlines, Inc., announced today that it has completed the sale of American Beacon Advisors, Inc., its wholly owned asset-management subsidiary, to Lighthouse Holdings, Inc., which is owned by investment funds affiliated with Pharos Capital Group, LLC and TPG Capital, L.P., two leading private equity firms.  AMR received a total consideration of $480 million.  While primarily a cash transaction, AMR will acquire a small equity stake in the parent company of Lighthouse Holdings.

     

    American Beacon will continue to provide a number of services for AMR and its affiliates, including cash management for AMR and investment advisory services and investment management services for American Airlines pension, 401(k) and other health and welfare plans.  An independent third party reviewed and approved the continuing relationships with American Beacon and American Airlines pension, 401(k) and other health and welfare plans to satisfy the fiduciary duties and other rules that apply to these plans.

      

     

  • Wyoming State Auditor

    In July, 2008 the Wyoming Legislature requested an independent overview of specified operational policies and procedures of the Wyoming Retirement System Plan. The Wyoming State Auditor entered into an agreement with IFS to perform the independent overview. The scope of work conducted by IFS included an analysis of investment and funding policies for the Wyoming Retirement System along with an analysis of the Plan’s operational decision-making processes as it pertains to investments, actuarial valuation and plan funding.  The final report was issued in October 2008.

IFS in the News

  • IFS Work with the BB&T Pension Plan Highlighted in CFO Magazine

    IFS' work with the BB&T Pension Plan was recently highlighted in CFO magazine...

  • RECENT DEVELOPMENTS IN THE CAPITAL MARKETS, September 16

    During the past year, the U.S. credit crisis has intensified into a larger financial crisis...

    White Paper is Attached

  • IFS Market Update - November 2008

    Capital Markets Update for the Month of November 2008