New Clients

The Arizona State Treasurer’s Office hired IFS to conduct an Operational Review including the $2.36 billion Arizona State Endowment Fund’s investment strategy.

IFS has been selected to serve as independent fiduciary for the company stock fund in the Federal Home Loan Mortgage Corporation (Freddie Mac) Thrift 401(k) Savings Plan. The Freddie Mac Plan joins the 401k plans sponsored by Dominion Resources, Inc., ADC Telecommunications and Tower Automotive, as those where IFS is acting as independent fiduciary regarding sponsor/employer stock.

IFS is assisting PBGC with cataloguing the risks PBGC faces in identifying and valuing a wide range of plan assets in connection with the termination and trusteeship of large complex plans.

IFS is assisting the World Bank in advising a government in Southeast Asia regarding management and governance of various public funds, in terms of global best practices, tailored to that country’s specific circumstances.

IFS was engaged to evaluate and make decisions regarding the proposed settlements in the ERISA class action arising out of the Southern Company’s 401k plan’s acquisition and holding of stock of Mirant Corporation and the ERISA class action arising out of the investment by 401k plans sponsored by New York Life Insurance Company in mutual funds sponsored by New York Life and its affiliates.

IFS is now acting as the independent fiduciary with respect to the employer stock accounts of several 401k plans sponsored by major corporations. IFS has assumed decision-making responsibility regarding company stock in the plans sponsored by Freddie Mac, ADC Telecommunications, and Tower Automotive. IFS is also serving as a fiduciary advisor to the Dominion Resources Asset Management Committee with respect to the Company Stock Funds in nine of that company’s 401k plans.

The board of trustees of the employee benefit plans of this firm hired IFS to assist them in evaluating the plans’ multi billion dollar 401k investment program. The investment program is sophisticated, including a variety of “alternative investments” as options available to plan participants.

The board of trustees for the Los Angeles City Employees’ Retirement System (LACERS) and the Los Angeles Fire and Police Pension System hired IFS to conduct an Operational Review.

The SEIU National Master Trust (Washington, D.C.) retained IFS on an ongoing basis to assist the Board of Trustees in monitoring and evaluating the investment performance of the Trust's discretionary manager-of-managers.

The Board of Trustees of the Ironworkers Local 25 Benefit Funds in Novi, MI (a suburb of Detroit) hired IFS as its ongoing investment consultant, to advise on a wide range of investment subjects including asset allocation, investment structure, investment manager search and risk controls.