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January 22, 1996 12:00 AM

SPECIAL REPORT: LARGEST FUNDS (PART 20/41)

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    State Universities

    Retirement System of Illinois

    ($ millions)

    Total assets6,306

    Defined benefit6,306

    Employer DB contributions128

    Benefit payments344

    Hedging devices used:

    Stock options

    Bond options

    Stock index futures

    Fixed-income futures

    Swaps

    Defined benefit asset mix:

    Stocks60%

    Fixed income35%

    Real estate equity5%

    CHAMPAIGN, Ill. - As of Sept. 30, State Universities Retirement System of Illinois' total employee benefit assets increased 19% from a year earlier. All assets are defined benefit.

    Employer contributions to the defined benefit plan decreased 4.5%, and benefits paid increased 13%.

    Defined benefit managers:

    Domestic equities: Ariel Capital; Brinson Partners; Fayez Sarofim;

    Fisher Investments; Holland Capital; Rosenberg Institutional; Smith

    Barney; PIMCO; Wells Fargo Nikko; Zevenbergen Capital.

    International equities: Brinson Partners; Martin Currie; IDS

    International; Wells Fargo Nikko.

    Domestic fixed-income: Bear Stearns; Balckrock Financial; Chicago Title &

    Trust; Kemper Asset; PIMCO; Standish, Ayer & Wood; Wedgewood Capital;

    Wells Fargo Nikko. Real estate: Aetna Realty; Equitable Real Estate; Rosenberg Real

    Estate.

    The master custodian and global custodian is Northern Trust.

    Key personnel overseeing the investment management of the fund are Kenneth E. Codlin, chief investment officer, and James Hacking, executive director.

    Public Employees'

    Retirement Fund of Indiana

    ($ millions)

    Total assets*5,484

    Defined benefit5,484

    Employer DB contributions188

    Benefit payments186

    *as of June 30, 1995

    Defined benefit asset mix:

    Fixed income100%

    INDIANAPOLIS - As of June 30, total employee assets of the Public Employees' Retirement Fund of Indiana increased 12% from Sept. 30, 1994. All assets are defined benefit.

    Employer contributions to the plan decreased 30%; benefits paid decreased 11%.

    Defined benefit managers:

    Domestic fixed-income: Holland; Taplin, Canida; Bank One; NBD; HM Capital; Prime Capital; Conseco; Pacific Income Advisors; J.P. Morgan; Reams; WR Lazard; NCM; Wedgewood; Hughes; Rittenhouse; and Danson & Neuhar.

    The master custodians are National City Bank and NBD.

    The fund's board of trustees oversees investment management of the fund.

    Indiana State Teachers'

    Retirement Fund

    ($ millions)

    Total assets3,078

    Defined benefit3,078

    Employer DB contributions239

    Benefit payments342

    Defined benefit asset mix:

    Fixed income96%

    Cash equivalents4%

    INDIANAPOLIS - As of Sept. 30, the Indiana State Teachers' Retirement Fund's total employee benefit assets increased 13.5% from a year earlier. All assets are defined benefit.

    Employer contributions to the defined benefit plan increased 4%, and benefits paid increased 12.5%.

    Defined benefit managers:

    Domestic fixed-income: Alliance; Bank One; Bank of New York; Baxter; NBD; Todd Investment; Merchants Capital; Alpha; Reams; Taplin Canida.

    The master trustee and master custodian is NBD Bank.

    Key personnel overseeing the investment management of the fund are Mary Petersen, director, and Robert Newland, investment analyst.

    International Paper

    ($ millions)

    Total assets4,419

    Defined benefit2,869

    *401(k)1,550

    Employer DB contributions0

    Benefit payments133

    Total DC contributions111

    Hedging devices used:

    Stock options

    Bond options

    Stock index futures

    Fixed-income futures

    Defined benefit asset mix:

    Stocks56%

    Fixed income34%

    Cash equivalents1%

    Real estate equity4%

    Alternative investments5%

    Defined contribution asset mix:

    Company stock62%

    Other stock6%

    Fixed income28%

    Balanced fund4%

    PURCHASE, N.Y. - As of Sept. 30, International Paper's total employee benefit assets increased 10% from a year earlier. Defined benefit assets increased 9% during the same period; defined contribution assets increased 12%.

    Benefits paid increased 2%.

    Defined benefit managers:

    Domestic equities: Sanford Bernstein; Geewax Terker; Miller, Anderson; Provident Investment Counsel; Wells Fargo; PIMCO; J.P. Morgan; TCW.

    Domestic fixed-income: J.P. Morgan; PIMCO.

    International fixed-income: Morgan Stanley.

    Real estate: AEW; LaSalle; RREEF.

    Other: Blackstone Partners; Corporate Partners; Hellman, Friedman; J.P. Morgan.

    Global assets: Brinson Partners; J.P. Morgan; Cursitor-Eaton.

    Defined contribution managers:

    Domestic equities: Vanguard.

    Domestic fixed-income: Bankers Trust; Sanford Bernstein; PIMCO.

    Balanced: Vanguard.

    The master trustee and global custodian is State Street Bank.

    Key personnel overseeing the investment management of the defined benefit fund are Connie Caperella, manager-trust investments, and Patricia Advaney, manager-trust operations. Ms. Advaney also oversees the defined contribution plan.

    Iowa Public Employees'

    Retirement System

    ($ millions)

    Total assets8,589

    Defined benefit8,589

    Employer DB contributions199

    Benefit payments278

    Hedging devices used:

    Stock options

    Bond options

    Stock index futures

    Fixed-income futures

    Swaps

    Defined benefit asset mix:

    Stocks38%

    Fixed income36%

    Cash equivalents1%

    Real estate equity4%

    Mortgages1%

    TAA10%

    Special equity8%

    Venture capital2%

    DES MOINES, Iowa - As of Sept. 30, the Iowa Public Employees' Retirement System's total employee benefit assets increased 18% from a year earlier. All assets are defined benefit.

    Employer contributions to the defined benefit plan increased 9%; benefits paid increased 13%.

    Defined benefit managers:

    Domestic equities: Capital Guardian; Mellon; RCM; Wellington.

    International equities: Baring; Brandywine; Clay Finlay; Nomura; OSV; Schroder; Wells Fargo.

    Domestic fixed-income: Heitman/JMB; J.P. Morgan; Loomis Sayles; Mellon; Miller Anderson Sherrerd; Wells Fargo.

    Global fixed-income: Morgan Grenfell; TCW.

    Real estate: AEW; Copley; Heitman/JMB.

    TAA: Baring; Mellon.

    Special equity: Fulcrum Fund; Kelso Fund; KKR; Olympus; Rice Partners; TCW Special Placements; Vestar; WCAS.

    Venture capital: Advent; Allsop; Battery Ventures; CH Partners; Domain Partners; Golder Thoma Cressey; HealthCare Ventures; InterVen; InterWest; InvestmentAmerica Iowa Fund; Lawrence Smith & Horey; LTOS; Matrix; Menlo; Prime Ventures; Summit.

    The master custodian and global custodian is Boston Safe Deposit/Mellon.

    Key personnel overseeing the investment management of the fund are Elizabeth Sanders, chief investment officer; Kathy Comito, assistant CIO; and Curt Gerlach, investment officer.

    ITT Corp.

    ($ millions)

    Total assets*4,878

    Defined benefit3,165

    Total defined contribution1,713

    *From Nelson's Directory

    NEW YORK - According to Nelson's Directory, ITT Corp.'s total employee benefit assets totaled $4.878 billion.

    Key personnel overseeing the investment management of the fund are Ann Reese, treasurer, and Paul Mastroianni, director-risk management.

    The ITT fund is being split into three separate funds to correspond to the three companies resulting from ITT Corp.'s division: ITT Industries Inc., ITT Hartford and ITT Corp. The allocations and other considerations had not been determined at press time.

    Johnson & Johnson

    ($ millions)

    Total assets3,159

    Defined benefit1,863

    401(k)1,296

    Employer DB contributions0

    Benefit payments100

    Total DC contributions120

    Defined benefit asset mix:

    Stocks70%

    Fixed income25%

    Cash equivalents5%

    Defined contribution asset mix:

    Company stock28%

    Other stock20%

    Fixed income1%

    GICs/BICs47%

    Cash equivalents1%

    Other3%

    NEW BRUNSWICK, N.J. - As of Sept. 30, Johnson & Johnson's total employee benefit assets increased 21% from a year earlier. Defined benefit assets increased 18% during the same period; defined contribution assets increased 24%.

    Defined benefit managers:

    Domestic equities: J.P. Morgan; Alliance; RCM; Neuberger & Berman; Amerindo; IAI; Nicholas-Applegate.

    International equities: IDS; Capital Guardian; Merrill Lynch.

    Domestic fixed-income: J.P. Morgan; Standish, Ayer.

    Real estate: J.P. Morgan; L&B.

    Other: Alliance.

    Defined contribution managers:

    Domestic equities: Capital Guardian.

    The master trustee is Bankers Trust.

    Key personnel overseeing the investment management of the defined benefit and defined contribution funds are William E. Rauh, director-pension funds, and Lori P. Blutfield, manager-pension funds.

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