Board of Pensions of the
Presbyterian Church (USA)
($ millions)
Total assets 4,122
Defined benefit 4,072
Defined contribution 50
Employer DB contributions 60
Benefit payments 135
The fund uses:
Bond options
Fixed-income futures
Defined benefit asset mix:
Stocks 62%
Fixed income 35%
Real estate equity 3%
PHILADELPHIA - As of Sept. 30, the Board of Pensions of the Presbyterian Church (USA)'s total employee benefit assets increased 10% from a year earlier. Defined benefit assets increased 10%.
Defined contribution assets increased 11.1%,
Employer contributions to the defined benefit plan increased 20%; benefits paid increased 12.5%.
Defined benefit managers:
Domestic equities: J.P. Morgan; Barrow Hanley; Lazard Freres; Alliance; Lincoln; Barclays Global; GeoCapital; Quest.
International equities: Capital Guardian; Grantham Mayo; Templeton.
Domestic fixed-income: Dodge & Cox; Miller, Anderson; PIMCO; Reams; Standish; Oaktree.
The master custodian and global custodian is Mellon.
The key person overseeing the investment management of the funds is Judith D. Freyer, vice president, investments and treasurer.
Procter & Gamble Co.
($ millions)
Total assets* 11,724
Defined benefit 170
Total defined contribution 11,554
*401(k)/457 145
Employer DB contributions 0
Benefit payments 3
Total DC contributions 270
*as of June 30
Stock index futures
Fixed-income futures
Defined benefit asset mix:
Stocks 43.4%
Fixed income 55.5%
Cash equivalents 1.1%
Defined contribution asset mix:
Company stock 94%
Other stock 1%
Fixed income 1%
GICs/BICs 2%
Cash equivalents 2%
CINCINNATI - As of June 30, Procter & Gamble Co.'s total employee benefit assets increased 16.7% from a year earlier.
Defined benefit assets decreased 2.9%; defined contribution assets increased 17.1%.
The employer contribution to the defined benefit plan remained zero; benefit payments remained the same.
Defined benefit managers:
Domestic equities: Barclays Global; Denver Investment; J.P. Morgan.
International equities: Templeton.
Domestic bonds: J.P. Morgan.
Defined contribution managers:
Domestic and international equities: Barclays Global.
Domestic bonds: Barclays Global; J.P. Morgan.
Key personnel overseeing the investment management of both the defined benefit and defined contribution plans are: C.C. Daley, vice president and treasurer; J.R. Lawhead, assistant treasurer; and J.R. Smith, director-pension investments.
Prudential Insurance Co.
of America
($ millions)
Total assets 10,036
Defined benefit 6,905
Total defined contribution 3,131
*401(k)/457 597
Employer DB contributions 0
Benefit payments 259
Total DC contributions 193
Internally managed assets:
Defined benefit 6,905
Defined contribution 3,131
The fund uses:
Stock index futures
Fixed-income futures
Defined benefit asset mix:
Stocks 57.0%
Fixed income 35.0%
Cash equivalents 0.9%
Real estate equity 6.5%
Mortgages 0.0%
Other 0.6%
Defined contribution asset mix:
Other stock 26.9%
Fixed income 0.8%
GICs/BICs 72.2%
Cash equivalents 0.1%
NEWARK, N.J. - As of Sept. 30, Prudential Insurance Corp. of America's total employee benefit assets increased 7% from a year earlier. Defined benefit assets increased 6.3% during the same period; defined contribution assets increased 8.5%.
There were no employer contributions to the defined benefit plan. Benefits paid increased 44%.
The global custodian is Chase Manhattan Bank.
KEY PERSONNEL OVERSEEING THE INVESTMENT MANAGEMENT OF THE FUNDS ARE MARK STUMPP, CHIEF INVESTMENT OFFICER, AND JIM SCOTT, MANAGING DIRECTOR.
