One who intends to leave others better off for his having existed.


Galliard, owned by Wells Fargo, North Carolina Stable Value Fund Transition Update; May 16, 2013

December 2010 - Galliard assumes oversight, daily valuations, and administration of stable value funds

- Transitioned custody of the 457 Plan Payden & Rygel portfolio to Wells Fargo 

January 2011 - Changed 401(k) Plan’s Prudential benchmark from Broad Market to Intermediate Aggregate

- Transitioned PIMCO to intermediate duration strategy wrapped by MetLife and increase
allocation to 15% of assets

- Funded Galliard short duration strategy with United of Omaha wrap

February 2011 - Began termination of State Street securities lending program in the 401(k) Plan

- Transitioned 457 Plan’s Prudential intermediate duration strategy to Galliard collective trust

- Liquidation of GWL trading account and funding of the Wells Fargo STIF and Wells Fargo SRF liquidity buffer

- Transitioned custody of the 401(k) Payden & Rygel portfolio to Wells Fargo

- New guidelines established for Payden short duration strategy

March 2011 - Transition 401(k) Plan’s Prudential investment to intermediate duration collective trust

July 2011 - Moved from declared rate to actual portfolio returns

2012 - Changed STIF to Wells Fargo Government Money Market

- Finalize portfolio strategy recommendations

2013 - Implementation of strategy recommendation changes

- Secure wrap coverage for Payden & Rygal

- Manager on-site compliance reviews

Prudential has the record keeping contract with North Carolina.

Wells Fargo owns Galliard.

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