A major US corporation with a market capitalization in the top half of the S&P500 and its labor unions negotiated to establish a retiree medical plan. The board of trustees of that plan hired IFS in September 2005 as its ongoing investment consultant.
This VEBA was formed through collective bargaining between the Company and the Steelworkers Union to provide retiree medical health benefits. The Company expects to emerge shortly from Chapter 11 and to fund the VEBA with a contribution of newly-issued common stock. The VEBA retained IFS to serve in several interrelated capacities:
Employees' Retirement System of the City of Milwaukee Milwaukee ERS hired IFS to conduct a comprehensive Operational Review of their investment programs and practices. IFS is evaluating many aspects of the investment programs, compared to industry best practices, including, for example, the Fund's investment processes and policies concerning asset allocation, operations and administration, board oversight, staffing and resources and other matters.
IFS recently started a comprehensive fiduciary review of the investment programs and practices of these two funds, with combined assets of approaching $80 billion.
IFS was selected as the on-going retainer investment consultant to the Trustees of the Trucking Employees of North Jersey Pension, Welfare and Annuity Plans and the Teamsters Industrial Employees Pension and Welfare Plans.
United Air Lines Pension Plans Several defined benefit plans of United Airlines hired IFS to act as Independent Fiduciary regarding funding and contribution matters. The U.S. Department of Labor was actively involved in finalizing the terms of our role as Independent Fiduciary.
United Air Lines Pension Plans Several defined benefit plans of United Airlines hired IFS to act as Independent Fiduciary regarding funding and contribution matters. The U.S. Department of Labor was actively involved in finalizing the terms of our role as Independent Fiduciary.
MCI/WorldCom 401k Plan The MCI/WorldCom Plan hired IFS as an Independent Fiduciary to decide whether to participate in a proposed settlement of and ERISA class action regarding losses suffered on company stock.
