February 1997

DoL Arrests Pension Administrator

In a dramatic first, the Labor Department arrests a plan administrator for failing to produce records, then uses a search warrant to obtain them.

Denny McLain’s Last Out

Or, how a former baseball star and convicted felon flouted ERISA to become a trustee of a pension fund and remove $3 million of its assets.

James Bayne

Manager of benefits, finance, and investments, Exxon Corporation

Whoops!

Administrative gaffes, glitches, and fumbles are on the rise at pension plans. They cost money and time. At worst, they can result in lengthy litigation or cost a plan its tax-deferred status.

‘Fessing Up Made Easier

The IRS is making it easier for plan sponsor to confess their administrative errors and make amends,without running the risk of tax disqualification, by liberalizing the rules for two of its claims processes.

The 20-Year Gusher

As a means to preserve and enhance the state's vast oil wealth, the Alaska Permanent Fund has succeeded. But what happens when oil revenues run short, and a cash-strapped state government comes knocking?

Long-Short

Using alpha transport strategies to maximize outperformance and control asset mix

Futures Shock

Why some large plans, endowments are giving managed futures a second look

Canadian Cafeteria Plan

FPPs allow defined benefit plan participants to buy extra pension benefits

Getting in Harmony

States hope uniform public fund law proposal will forestall federal interference

Ravenous Rivals

With hungry economies and populations of one billion or more, China and India are commanding investor attention. But is enough capital available to satiate both?

Opening the Oyster

After relaxing some of the restrictions that have kept foreign investors from prying open its stock market, Korea stands poised to dive into the millennium.

Right On Target

Swelling market capitalization, stock exchanges and privatization have slid emerging markets from the fringe to the cutting edge of international mutual fund portfolios.

Panning for Gold

Bankers Trust's emerging market manager Maria-Elena Carrion lays bare her take on Asia, Latin America, and Eastern Europe

Limited Options

Sponsors violate rules by restricting ex-employees' investment choices, IRS says