Independent Fiduciary Services, Inc (IFS) has been engaged by the UAW Retiree Medical Benefits Trust to manage Ford Motor Company securities which Ford recently contributed (and in the future may contribute) to the Trust. Under a settlement agreement among Ford, the United Auto Workers union and a class of current or former UAW-represented employees these Ford securities, along with other assets of the Trust, are expected to fund health ins
IFS has been selected to serve as the independent fiduciary regarding employer stock in the defined benefit and 401k plans of numerous New York Stock Exchange-listed companies, including members of the Fortune 100 and Fortune 500.
IFS has been retained as the on-going investment consultant on behalf of the Retirees of Continental Tire North America (CTNA) VEBA Health Care Trust. The Trust was established in 2008 pursuant to a settlement agreement between the United Steelworkers (USW) and Continental Tire North America and provides health care and related benefits covering approximately 2,500 USW represented retirees and surviving spouses as well as a limited number of future retirees.
IFS is currently advising the Federal Agricultural Mortgage Corporation (“Farmer Mac”) on its “Liquidity Portfolio.” Farmer Mac is comparable to other federally-chartered corporations that facilitate mortgage financing, such as Fannie Mae and Freddie Mac (residential mortgages) and Sallie Mae (student loans); Farmer is active in agricultural loans and mortgage securitization.
IFS was recently hired by the California Joint Powers Insurance Authority (JPIA) to perform an independent investment program review, to assist the California JPIA in adopting and implementing industry best practices. This project will be carried out by the IFS Operational Review department. IFS was officially engaged on October 29, 2008.
In May, 2008, the Bear Stearns Board of Directors engaged IFS to act as named fiduciary and investment manager of The Bear Stearns Companies Inc. Employee Stock Ownership Plan to direct the Plan’s trustee with respect to the voting of the ESOP’s shares with respect to the proposed merger with JPMorgan Chase.
The Board of Trustees of the Sheet Metal Workers Local 292 Pension and Annuity Fund in Troy, MI hired IFS to provide ongoing investment advisory services. Among other things, IFS will advise the Board of Trustees regarding overall asset allocation and investment structure, investment manager selection, performance evaluation and monitoring.
The $26 billion South Carolina Retirement Systems hired Independent Fiduciary Services ("IFS") to evaluate the System’s investment operations and accounting infrastructure. This project will be carried out by the IFS Operational Review practice. IFS was officially engaged on December 19, 2007.
