Westinghouse Electric Corp.
($ millions)
Total assets 8,088
Defined benefit 3,464
401(k) 4,624
Employer DB contributions 300
Benefit payments 762
Total DC contributions 183
Internally managed assets:
Defined benefit 108
Defined contribution 2,859
The fund uses:
Stock options
Bond options
Stock index futures
Fixed-income futures
Managed futures
Swaps
Defined benefit asset mix:
Stocks 65%
Fixed income 23%
Cash equivalents 2%
Real estate equity 8%
Mortgages 2%
Defined contribution asset mix:
Company stock 7.0%
Other stock 16.0%
GICs/BICs 74.5%
Other 2.5%
PITTSBURGH - As of Sept. 30, Westinghouse Electric Corp.'s total employee benefit assets increased 12.7% from a year earlier. Defined benefit assets increased 11.5% during the same period; defined contribution assets increased 13.6%.
Employer contributions to the defined benefit plan were unchanged; benefits paid decreased 18.6%.
Defined benefit managers:
Domestic equities: Advanced Investment; Brandywine; Columbus Circle; Equinox; Jennison; Mellon Equity; J.P. Morgan; State Street.
International equities: Advanced Investment; Genesis; J.P. Morgan; State Street.
Fixed-income: Barclays Global; J.P. Morgan; Mellon; Putnam.
Real estate: Citibank; Equitable; Heitman/JMB; LaSalle; AEW/State Street.
Other: Crossroads Capital; Kleiner Perkins; Menlo Ventures; Merrill; Pickard Anderson & Eyre; J.P. Morgan; RCS; Oak Investment Partners; Regional Financial Enterprises; Venad.
Defined contribution managers:
Domestic equities: Bankers Trust; Fidelity; Janus; Twentieth Century.
International equities: J.P. Morgan.
Domestic fixed-income: BlackRock; Goldman, Sachs; J.P. Morgan; PIMCO; Putnam.
Lifecycle: Bankers Trust.
Balanced: J.P. Morgan.
The master trustee and global custodian for the defined benefit plan is Mellon Bank. The trustee for Westinghouse's defined contribution plan is Bankers Trust; for CBS' defined contribution plan, Dreyfus.
Key personnel overseeing the investment management of the funds are Claudia Morf, treasurer; Julie Forsythe, director, pensions; and Mark Brubaker, manager, pensions.
State of Wisconsin
Investment Board
($ millions)
Total assets 39,698
Defined benefit 39,698
Employer DB contributions 965
Benefit payments 1,153
Internally managed assets:
Defined benefit 31,380
Defined benefit asset mix:
Stocks 57%
Fixed income 33%
Cash equivalents 4%
Real estate equity 4%
Other 2%
MADISON - As of Sept. 30, the State of Wisconsin Investment Board's total employee benefit assets, all defined benefit, increased 12% from a year earlier.
Employer contributions increased about 4%; benefit payments were about flat.
Defined benefit managers:
Domestic equities: Barclays Global.
International equities: Capital Guardian; Baillie Gifford; GE; Morgan Stanley.
International fixed-income: Alliance; Nomura, Brinson; Morgan Grenfell.
Emerging markets: Capital Guardian; Genesis. The master custodians are Mellon Trust and Bank of New York. The global custodian is Mellon.
Key personnel overseeing the investment management of the fund are Patricia Lipton, chief executive, and Michael McCowin, chief investment officer.
International Bank
for Reconstruction
and Development
(World Bank)
($ millions)
Total assets 7,149
Defined benefit 7,149
Employer DB contributions 113
Benefit payments 143
The fund uses:
Stock index futures
Fixed-income futures
Short selling
Swaps
Defined benefit asset mix:
Stocks 65.0%
Fixed income 24.9%
Cash equivalents 0.1%
Real estate equity 7.2%
Other 2.8%
WASHINGTON - As of Sept. 30, The International Bank for Reconstruction and Development's total employee benefit assets increased 14.5% from a year earlier. All assets are defined benefit.
Employer contributions to the defined benefit plan decreased 2.4%; benefits paid increased 4.1%
The master custodian is State Street Bank; the global custodians are Northern Trust and State Street Bank.
Key personnel overseeing the investment management of the fund are Afsaneh Mashayekhi Beschloss, director of pension investments, and Arun Muralidhar, senior investment officer.
Xerox Corp.
($ millions)
Total assets 7,291
Defined benefit 4,299
Total defined contribution 2,992
*401(k)/457 2,136
Employer DB contributions 83
Benefit payment 378
Total DC contributions 198
STAMFORD, Conn. - As of Sept. 30, Xerox Corp's total employee benefit assets increased 12.3% from a year earlier. Defined benefit assets increased 8.5% during the same period; defined contribution assets increased 18.4%.
Employer contributions to the defined benefit plan increased 28%; benefits paid increased 51%.
Money managers:
Domestic equities: Barclays Global; First Pacific; Friess; GEM Capital; GeoCapital; Independence Investment; Lincoln Capital; RCM; Sound Shore; Steinberg Asset; TCW; Westpeak Investment.
International equities: Capital Guardian; Grantham Mayo; Jennison; J.P. Morgan.
Domestic fixed-income: GEM Capital; W.R. Huff; J.P. Morgan; RCM; PIMCO.
International fixed-income: J.P. Morgan; PIMCO.
Real estate: Heitman/JMB; RREEF; TCW; GE Investments.
Other managers: Bankers Trust; Horsley Bridge; PanAgora; TCW.
The master trustee and global custodian is State Street Bank.
Key personnel overseeing the investment management of the defined beneit and defined contribution plans are Myra Drucker, assistant treasurer; Mary Cahill, manager-policy and planning; and Chris Campisano, manager-trust investment.
