Recently Completed Projects

IFS Completes its Primary Responsibilities as Independent Fiduciary to the Ford Motor Subaccount of the United Auto Workers Retiree Medical Benefits Trust

Submitted by IFS on Mon, 02/07/2011 - 21:45
in

During the 4th quarter of 2010, IFS completed its primary responsibilities as independent fiduciary to the Ford Motor Subaccount of the United Auto Workers Retiree Medical Benefits Trust, after realizing over $9 billion in cash for the Trust.  IFS achieved that by disposing of 100% of the securities Ford had previously contributed to the Trust, as a way to help fund medical benefits for some 200,000 Ford retirees.     The securities consisted of: ·

IFS Completes Assignment for Alaska Retirement Management Board

Submitted by IFS on Fri, 01/14/2011 - 21:28
in

IFS recently completed its “Report on State Performance Consultants and Evaluation of Investment Policies” for the Alaska Retirement Management Board (“ARMB”).  ARMB is required by Alaska Statute 37.10.220(a)(11) to contract for an independent audit of the state’s performance consultant not less than once every four years and to obtain an external performance review to evaluate the investment policies of each fund entrusted to the Board and report the results to the appropriate fund fiduciary.

IFS Completes Sale of Williams Companies Stock for Williams 401(k) Plan

Submitted by IFS on Mon, 01/03/2011 - 21:00
in

Some companies are responding to the fiduciary and other issues associated with offering company stock as an investment option in their 401(k) plans by amending their plans to eliminate the investment option as of a fixed date.  Winding down a company stock fund requires careful planning and timely, thoughtful communications to plan participants.  The actual process of liquidating the shares held in the company stock fund as the deadline for its elimination app

IFS Completes Independent Fiduciary and Investment Assignment for the Dow Chemical ESOP

Submitted by IFS on Mon, 06/15/2009 - 19:55
in

IFS recently completed an assignment as independent fiduciary and investment manager for a portion of  The Dow Chemical Company Employees'  Savings Plan.  <

IFS Completes Project with Federal Agricultural Mortgage Corporation (Farmer Mac)

Submitted by srand on Mon, 04/06/2009 - 17:39
in

IFS has completed 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.

Wyoming State Auditor

Submitted by srand on Thu, 11/20/2008 - 20:04
in

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.

IFS as Independent Fiduciary for AMR Plans

Submitted by IFS on Thu, 09/25/2008 - 20:40
in

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:  

IFS President Assists the Asian Development Bank

Submitted by IFS on Wed, 06/11/2008 - 19:33
in

In Beijing, in late 2007, Independent Fiduciary Services (IFS) President Samuel (Skip) Halpern assisted the Asian Development Bank (ADP) in presenting a seminar to the Office of Legislative Affairs of the People’s Republic of China, concerning investment of pension assets for governmental retirement systems.

Arizona State Treasurer's Office

Submitted by srand on Thu, 05/29/2008 - 18:12
in

IFS recently completed performing an Operational Review for the Arizona State Treasurer’s Office, which included the $2.36 billion Arizona State Endowment Fund’s investment strategy.  The final report was issued in February 2008.

IFS Projects Completed in 4Q 2007

Submitted by IFS on Tue, 10/02/2007 - 23:05
in

The following three projects were completed by the IFS Operational Review practice in the 4th Quarter of 2007:

Syndicate content