Four Named
Nationwide Retirement Solutions has promoted four regional vice presidents as part of its effort to support and service the 457 plan public sector market. The quartet will work with support the state directors within their territories and help customize plan design. They are: Louie Watson, regional vice president for the Eastern region (Michigan, Tennessee and Georgia, in addition to Maryland, Pennsylvania, West Virginia, New York, Vermont, New Hampshire, Maine, Massachusetts, Rhode Island, Connecticut, New Jersey, Virginia, Delaware, North Carolina and South Carolina), Rob Bilo for the Western region (California, Oregon, Washington, Idaho, Montana, Nevada, Hawaii and Alaska), Lou Moreno for the Southwest region (Arizona, Texas, New Mexico, Utah, Colorado, Wyoming, Florida, Alabama, Mississippi, Louisiana, Arkansas and Oklahoma) and Mike Studebaker for the Midwestern region (Ohio, Illinois, Kentucky, Indiana, Wisconsin, Minnesota, lowa, Missouri, Kansas, Nebraska, South Dakota and North Dakota).

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Yet Another Round of Enron Bills
Bills continue to pop out of the ground in Washington faster than tulip shoots after an early thaw. Senate Minority Leader Trent Lott (R, MS) and Senator Kay Bailey Hutchison (D, TX) are offering the Pension Plan Protection Act (S.1921). That bill mirrors the proposals floated by President George Bush. It also require plans (except ESOPs) to offer at least four different investment options, three of which do not involve the acquisition or holding of employer securities. That specification is now a voluntary part of section 404c, which most plans already comply with. It would also allow employees to reallocate matches made in company stock after just 90 days and it incorporates the Boehner advice bill. On the administrative side, it would require quarterly statements and impose a $100 per day fine for those failing to do so. It also mandates 30 day notice of blackouts and bars executives from trading employer stock during a blackout period. In a non-sequitor, it also bars accounting firms performing auditing services for a publicly traded company from performing any other service for that company.

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Canada Funds Name Change
CM Investment Management has changed the names of the funds formerly of the Merrill Lynch Canada family. The new family name is Renaissance mutual funds. The name change was required as part of the purchase agreement between the two firms. 

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