NY Life Takes Acquisition View on Eclipse Funds

October 23, 2000 (PLANSPONSOR.com) - The wave of fund acquisitions continues again this week, with New York Life Investment Management acquiring the assets of Towneley Capital Management.

Consummation of the acquisition is subject to approval by Eclipse Funds’ shareholders. Towneley has some $600 million in assets under management, including its Eclipse mutual fund family.

The Eclipse Funds family includes:

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  • Eclipse Ultra Short Term Income Fund
  • Eclipse Small Cap Value Fund
  • Eclipse Mid Cap Value Fund
  • Eclipse Balanced Fund

Wesley McCain will retain investment management oversight over all of the Eclipse Funds, with the Eclipse equity funds continuing to be co-managed by Kathy O’Connor and the Eclipse income and balanced funds continuing to be co-managed by Joan Sabella.

New York Life Investment Management currently has over $117 billion in assets under management.

GM Hooks Up Employees from Home

November 9, 2001 (PLANSPONSOR.com) - General Motors employees can now log in from home to access their 401(k) accounts, electronic pay stubs, e-learning enrollment, and other company services, thanks to the launch of the company's new employee portal.

With mySocrates, an extension of the automaker’s existing Socrates employee information site, which was available primarily on employee workstations, GM’s 180,000 US workers can connect to the site from any computer, via America Online.

Apart from employee benefits, compensation and e-learning information, MySocrates will also include news, weather, and traffic updates.

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The portal is powered by software developed by Workscape, vendor of self-service human resources applications.

GM hooked up the first 1,000 employees to mySocrates last month. The remainder will be hooked up before the end of the year.

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