Delaware Public Employees'
Retirement System
($ millions)
Total assets* 3,249
Defined benefit 3,249
Employer DB contributions 90
Benefit payments 135
*as of June 30
Defined benefit asset mix:
Stocks 54.5%
Fixed income 27.4%
Cash equivalents 5.9%
Real estate equity 1.3%
Other 10.9%
DOVER, Del. - As of June 30, Delaware Public Employees' Retirement System's total employee benefit assets increased 19% from a year earlier. All assets are defined benefit.
Employer contributions to the defined benefit plan increased 7%; benefits paid increased 5%.
Defined benefit managers:
Domestic equities: Brinson; Barclays Global; Cadence; Fidelity; Lincoln; Mellon; T. Rowe Price; Trinity.
International equities: Marvin & Palmer; Rowe Price-Fleming.
Domestic fixed-income: Barclays Global; Lincoln; Mellon; NCM.
International fixed-income: J.P. Morgan.
Real estate: Allegis; Citicorp; J.W. O'Connor.
Convertible securities: Froley Revy; Oaktree; Pecks.
Venture capital: Accel; Advanced Technology; Brentwood; Carlyle; Cherry Tree Ventures; Coller Isnard; Dougery & Wilder; One Liberty; ONSET Enterprise; Spectra; Summit; T. Rowe Price; Weston Presidio.
Private investments: Equity Linked Investors; Pecks; T. Rowe Price; TCW.
Cash & equivalents: T. Rowe Price.
The master custodian is Mercantile Safe-Deposit; the global custodian is State Street Bank & Trust.
Key personnel overseeing the investment management of the fund are A. Dale Stratton, chair-board of trustees; Elva B. Ferrari, chair-investment committee; and James C. Baker, pension administrator.
Delta Air Lines Inc.
($ millions)
Total assets 9,953
Defined benefit 7,453
401(k) 2,500
Internally managed assets:
Defined benefit 800
The fund uses:
Options
Defined benefit asset mix:
Stocks 70%
Fixed income 18%
Real estate equity 4%
Other 8%
Defined contribution asset mix:
Company stock 17.2%
Other stock 50.8%
Fixed income 7.2%
GICs/BICs 24.8%
ATLANTA - As of Sept. 30, Delta Air Lines Inc.'s total employee benefit assets increased 15.6% from a year earlier. Defined benefit assets increased 13.6% during the same period; defined contribution assets increased 22%.
The master trustee, master custodian and global custodian is Citibank.
The key person overseeing the investment management of the funds is Jim Taylor, chief investment officer.
Detroit Retirement Systems
($ millions)
Total assets* 5,181
Defined benefit 5,181
Employer DB contributions 100
Benefit payments 344
*as of June 30
The fund uses:
Managed futures
Defined benefit asset mix:
Stocks 55.2%
Fixed income 24.5%
Cash equivalents 2.4%
Real estate equity 4.6%
Mortgages 6.6%
Other 6.7%
DETROIT - As of June 30, the Detroit Retirement Systems' total employee benefit assets increased 5.6%. All assets, representing the General Retirement System and the Police and Fire system, are defined benefit.
Defined benefit managers for the Police & Fire fund:
Domestic equities: Chancellor; Woodford; Loomis; NCM; Oppenheimer; Putnam; Scudder; Kenwood; Paradigm; Reinhart & Mahoney; Wilmoco; Capital Guardian; Heartland; Kennedy.
International equities: Putnam; CIGNA; Morgan Stanley.
Domestic fixed-income: Income Research; Loomis; Munder; Putnam; Transamerica.
International fixed-income: Putnam; John Hancock; Zurich.
Real estate: MIG; Capozzoli; Carter Primo Chesterton.
Other: Mesirow; Athene Coronado.
The master custodian and global custodian for the Detroit General Retirement System is First Chicago NBD; the master custodian and global custodian for the Detroit Police and Fire is Comerica.
Key personnel overseeing the investment management of the systems are: Thomas Zdrodowski, executive secretary; Nicholas Degel, administrative secretary for the Police and Fire; and Joseph Glanton, assistant administrative supervisor for the Detroit General Retirement system.
District of Columbia
Retirement Board
($ millions)
Total assets 3,751
Defined benefit 3,751
Employer DB contributions 321
Benefit payments 360
The fund uses:
Stock index futures
Fixed-income futures
Defined benefit asset mix:
Stocks 68.0%
Fixed income 25.0%
Cash equivalents 4.0%
Real estate equity 1.6%
Other 1.4%
WASHINGTON - As of Sept. 30, The District of Columbia Retirement Board's total employee benefit assets increased 14% from a year earlier. All assets are defined benefit.
Employer contributions to the defined benefit plan increased 8.4%; benefits paid increased 129%.
Defined benefit managers:
Domestic equities: Alliance; Fidelity; Denver; Sasco; Cowen.
International equities: Templeton; Bank of Ireland; INVESCO.
Domestic fixed-income: PIMCO; Western; Morgan Grenfell.
International fixed-income: Western Global.
Real estate: LaSalle; Heitman/JMB; J.P. Morgan.
The master trustee, global custodian and master custodian is State Street.
Key personnel overseeing the investment management of the fund are Jeanna Cullins, executive director; Sheila Morgan-Johnson, deputy director for finance; and Loretta Myers, investment analyst.
Dow Chemical Co.
($ millions)
Total assets 6,046
Defined benefit 4,150
401(k) 1,896
Employer DB contributions n/a
Benefit payments 380
Total DC contributions 121
Internally managed assets:
Defined benefit 440
Defined contribution 746
Defined benefit asset mix:
Stocks 71%
Fixed income 24%
Real estate equity 5%
Defined contribution asset mix:
Company stock 23%
Other stock 38%
GICs/BICs 39%
MIDLAND, Mich. - As of Sept. 30, Dow Chemical Co.'s total employee benefit assets increased 10.4% from a year earlier. Defined benefit assets increased 9.2% during the same period; defined contribution assets increased 13.2%.
Benefits paid from the defined benefit plan decreased 2.6%
The master trustee for the defined benefit plan is National Bank of Detroit. The master custodian for the defined contribution plan is Bankers Trust.
The key person overseeing the investment management of both funds is W.J. Burroughs, director-portfolio investments.
