Tennessee Consolidated
Retirement System
($ millions)
Total assets15,077
Defined benefit14,878
Total defined contribution*199
*401(k)109
*45790
Employer DB contributions334
Benefit payments368
Total DC contributions19
*as of June 30
Internally managed assets:
Defined benefit14,878
Hedging devices used:
Stock options
Stock index futures
Defined benefit asset mix:
Stocks41.4%
Fixed income52.8%
Cash equivalents1.8%
International fixed income4.0%
Defined contribution asset mix:
Stock60%
Fixed income38%
Cash equivalents2%
NASHVILLE, Tenn. - As of Sept. 30, the Tennessee Consolidated Retirement System's total employee benefit assets increased 16.2% from a year earlier. Defined benefit assets increased 16.2% during the same period; defined contribution assets increased 18.4% through June 30.
Employer contributions to the defined benefit plan increased to $334 million from zero last year, and benefits paid decreased 11.5%.
Defined contribution managers:
Domestic equities: Fidelity.
International equities: Fidelity.
Domestic fixed-income: Calvert.
Other: Aetna; Union Planters Bank; Great-West.
The master custodian and global custodian is Mellon Trust.
Key personnel overseeing the investment management of the fund are Chuck Webb, chief investment officer; Frank Puryear, senior portfolio manager; and Mike Keeler, senior analyst. Overseeing the defined contribution plan is Deana Reed, director of deferred compensation.
Tennessee Valley Authority
Retirement System
($ millions)
Total assets5,057
Defined benefit4,626
401(k)431
Employer DB contributions49
Benefit payments242
Total DC contributions34
Hedging devices used:
Bond options
Stock index futures
Fixed-income futures
Defined benefit asset mix:
Stocks60%
Fixed income40%
Defined contribution asset mix:
Other stock56%
GICs/BICs44%
KNOXVILLE, Tenn. - As of Sept. 30, the Tennessee Valley Authority Retirement System's total employee benefit assets increased 18.3% from a year earlier. Defined benefit assets increased 18.5% during the same period; defined contribution assets increased 16.2%
Employer contributions to the defined benefit plan increased 2%, and benefits paid increased 59%.
Defined benefit managers:
Domestic equities: Mellon Capital; Geewax Terker; NCM Capital; Newbold's; J.P. Morgan; Nicholas-Applegate; Brinson Partners; Equitable Asset; Fidelity Management Trust.
Domestic fixed-income: PIMCO; BlackRock; TCW; Putnam; Bradford & Marzec; Western Asset.
Defined contribution managers:
Domestic equities: Fidelity Investments.
Domestic fixed-income: Fidelity Investments.
The master custodian is Mellon Bank.
Key personnel overseeing the investment management of the benefit funds are Randy Snyder, executive secretary, and Patrick Brackett, investment officer.
Texaco Inc.
($ millions)
Total assets3,339
Defined benefit1,249
Total defined contribution2,090
*Thrift/savings1,639
*ESOP451
Employer DB contributions64
Benefit payments434
Total DC contributions112
Internally managed assets:
Defined benefit170
Hedging devices used:
Stock options
Stock index futures
Defined benefit asset mix:
Stocks70%
Fixed income15%
Cash equivalents10%
Real estate equity5%
Defined contribution asset mix:
Company stock47%
Other stock17%
Fixed income6%
Cash equivalents24%
Other6%
WHITE PLAINS, N.Y. - As of Sept. 30, Texaco Inc.'s total employee benefit assets increased 9.2% from a year earlier. Defined benefit assets increased 7.5% during the same period; defined contribution assets increased 10.2%.
Defined benefit managers:
Domestic equities: Alliance, Mellon Capital; J.P. Morgan; State Street Bank.
International equities: Rowe Price-Fleming.
Domestic fixed-income: Aetna; Equitable; WR Lazard; J.P. Morgan; Travelers.
Real estate: Aetna; Equitable; J.P. Morgan; Prudential.
Defined contribution manager: Vanguard.
The master trustee is Chase Manhattan Bank,
Shelby Faber, assistant treasurer, oversees investment management of the funds.
Texas County and District
Retirement System
($ millions)
Total assets4,721
Defined benefit4,721
Employer DB contributions138
Benefit payments165
Internally managed assets4,721
Defined benefit asset mix:
Fixed income100%
AUSTIN, Texas - As of Sept. 30, Texas County and District Retirement System had $4.721 billion in assets. This multiemployer plan is a hybrid, but since it most closely resembles a cash balance plan, fund officials consider it to be more a defined benefit plan than a defined contribution plan.
Employer contributions to the defined benefit plan increased 8%.
The global custodian is Boston Safe Deposit.
Key personnel overseeing the investment management of the fund are Ron Schultz, investment officer, and Alan Adams, investment coordinator.
Employees Retirement
System of Texas
($ millions)
Total assets12,257
Defined benefit11,822
Total defined contribution435
*401(k)192
*Other243
Employer DB contributions234
Benefit payments395
Total DC contributions57
Internally managed assets:
Defined benefit11,822
Defined benefit asset mix:
Stocks47%
Fixed income52%
Cash equivalents1%
Defined contribution asset mix:
Other stock41%
Fixed income57%
Cash equivalents1%
Other1%
AUSTIN, Texas - As of Sept. 30, Employees Retirement System of Texas total employee benefit assets increased 16.3% from a year earlier. Defined benefit assets increased 16.2% during the same period; defined contribution assets increased 21.2%.
Employer contributions to the defined benefit plan decreased 2.5%, and benefits paid decreased 14.3%.
Defined benefit advisers:
Domestic equities: INVESCO; Montag & Caldwell.
International equities: Citibank Global Asset Management.
Domestic fixed-income: Duff & Phelps.
The master custodian and global custodian is NationsBank of Texas.
Key personnel overseeing the investment management of the defined benefit fund are Charles D. Travis, executive director; James A. Adkins, deputy executive director; Nancy G. Goerdel, deputy director for investments; and Russell Niemie, chief investment officer. Overseeing the defined contribution plan is Marianne Woods, director of deferred compensation.
Texas Municipal Retirement
System
($ millions)
Total assets5,024
Total defined contribution5,024
Internally managed assets5,024
Defined contribution asset mix:
Fixed income96%
Cash equivalents4%
AUSTIN, Texas - As of Sept. 30, Texas Municipal Retirement Fund's total employee benefit assets increased 25.7% from a year earlier. All assets are defined contribution.
The master custodian is Texas Commerce Bank.
Key personnel overseeing the investment management of the defined contribution plan are Gary W. Anderson, director, and Preston G. Craig, investment officer.
Teacher Retirement System
of Texas
($ millions)
Total assets46,054
Defined benefit46,054
Employer DB contributions1,030
Benefit payments1,726
Internally managed assets46,054
Defined benefit asset mix:
Stocks55.2%
Fixed income39.2%
Cash equivalents2.4%
Real estate equity1.0%
Mortgages2.1%
Alternative investments0.1%
AUSTIN, Texas - As of Sept. 30, Teacher Retirement System of Texas total employee benefit assets increased 26.4% from June 30, 1994. All assets are defined benefit and managed internally.
Employer contributions to the defined benefit plan increased 4.7%; benefits paid increased 9.9%.
The master custodian is Bank of New York; the global custodian is Northern Trust.
Key personnel overseeing the investment management of the fund are John E. Young, chief investment officer; John Carl, director of equities; Jack Cooper, director of fixed income; and Laurie Dotter, director of real estate.
Textron Inc.
($ millions)
Total assets4,679
Defined benefit3,376
Total defined contribution1,303
*Profit-sharing52
ESOP1,251
Employer DB contributions13
Benefit payments180
Defined benefit asset mix:
Stocks51%
Fixed income34%
Cash equivalents5%
Real estate equity6%
Private placements4%
PROVIDENCE, R.I. - As of Sept. 30, Textron Inc.'s total employee benefit assets increased 16% from a year earlier. Defined benefit assets increased 12.6% during the same period; defined contribution assets increased 26%.
Employer contributions to the defined benefit plan increased 8%; benefits paid increased 5.3%.
Defined benefit managers:
Domestic equities: Chancellor; Babson; Delaware; Fidelity; Husic; Loomis Sayles; Putnam; Sanford Bernstein; Wellington.
Domestic fixed-income: Duff & Phelps; Income Research; Loomis Sayles; Putnam; TCW.
Real estate: RREEF; Sentinel; Schroder; Lodging Opportunities.
Other: Paul Revere.
Defined contribution managers:
Domestic equities: Bankers Trust.
The master trustee and global custodian is Bankers Trust.
Key personnel overseeing the investment management of the funds are Deborah A. Imondi, assistant treasurer, and Louise A. Fortin, director-pension investments.
Travelers Insurance
($ millions)
Total assets*3,074
Defined benefit1,984
Total defined contribution1,090
*P&I estimate
HARTFORD, Conn. - P&I estimates Travelers Insurance's employee benefit assets totaled $3.074 billion as of Sept. 30. The estimate is based on the $2.587 billion the company reported as of Sept. 30, 1994.
