American Airlines
Total assets 8,800
Defined benefit 4,215
Total defined contribution 4,585
*401(k)/457 2,023
Employer DB contributions 259
Benefit payments 304
Total DC contributions 340
Internally managed assets:
Defined benefit 150
Defined contribution 350
The fund uses:
Fixed-income futures
Defined benefit asset mix:
Stocks 26%
Fixed income 66%
Cash equivalents 4%
Alternative investments 4%
Defined contribution asset mix:
Other stock 83%
Fixed income 5%
GICs/BICs 3%
Cash equivalents 3%
Other 6%
FORT WORTH, Texas - As of Sept. 30, American Airlines' total employee benefit assets increased 11% from a year earlier. Defined benefit assets increased 6% during the same period; defined contribution assets increased 16.5%.
Employer contributions to the defined benefit plan decreased 6%; benefits paid increased 6%.
Defined benefit managers:
Domestic equities: IIA; Hotchkis & Wiley; Barrow Hanley; GSB; Boatmen's; Dewey Square; Southeastern; Brandywine.
International equities: Morgan Grenfell; Morgan Stanley; Rowe Price-Fleming; Templeton; J.P. Morgan.
Domestic fixed-income: IIA; Hotchis & Wiley; Barrow Hanley; GSB; Boatmen's; Dewey Square; Southeastern; Brandywine.
International fixed-income: Morgan Grenfell; Morgan Stanley; Rowe Price-Fleming; Templeton; J.P. Morgan; Salomon Brothers.
Other managers: Zell/Merrill; Hicks Muse; Prentiss; Triad; Zell/Chilmark; GE; Castle Harlan; Equus; Goldman Sachs; South Street; Morgan Stanley; Carlyle; Natural Gas; Whitehall.
Defined contribution managers:
Domestic equities: IIA; Hotchkis & Wiley; Barrow Hanley; Brandywine; GSB; Dreman; Dewey Square.
International equities: Morgan Stanley; Templeton; Rowe Price-Fleming; Hotchkis & Wiley; J.P. Morgan; Gulfstream Global.
Balanced: IIA; Hotchkis & Wiley; Barrow Hanley; Brandywine; GSB.
The master trustee and master custodian is NationsBank; the global custodian is Morgan Stanley.
Key personnel overseeing the investment management of both funds are William F. Quinn, president-AMR Investments; Nancy A. Eckl, vice president-AMR Investments; and Kirk L. Brown, senior trust analyst.
American Electric Power
Service Corp.
($ millions)
Total assets 3,204
Defined benefit 1,899
Total defined contribution 1,305
401(k) 472
Employer DB contributions 0
Benefit payments 91
Total DC contributions 77
Internally managed assets:
Defined contribution 499
Defined benefit asset mix:
Stocks 72%
Fixed income 15%
Cash equivalents 7%
Real estate equity 1%
Mortgages 3%
Other 2%
Defined contribution asset mix:
Company stock 31%
Other stock 28%
Fixed income 3%
GICs/BICs 36%
Cash equivalents 2%
COLUMBUS, Ohio - As of Sept. 30, American Electric Power Service Corp.'s total employee benefit assets increased 10% from a year earlier. Defined benefit assets increased 9% during the same period; defined contribution assets increased 10%.
Employer contributions to the defined benefit plan remained zero; benefits paid increased 6%.
Defined contribution managers:
Domestic equities: Fidelity.
International equities: Fidelity.
Domestic fixed-income: Fidelity.
Life cycle: Fidelity.
Balanced: Fidelity.
The master trustees/custodians are Bank of New York and Fidelity Management Trust Co.
Key personnel overseeing both funds are Gerald P. Maloney, executive vice president-chief financial officer, and Joseph H. Shepard Jr., manager-corporate benefit trust funds.
American Home Products
($ millions)
Total assets 3,383
Defined benefit 2,071
401(k)/457 1,312
Employer DB contributions 31
Benefit payments 230
Total DC contributions 125
Defined benefit asset mix:
Stocks 60%
Fixed income 37%
Cash equivalents 1%
Real estate equity 1%
Other 1%
Defined contribution asset mix:
Company stock 28%
Other stock 26%
Fixed income 3%
GICs/BICs 43%
MADISON, N.J. - As of Sept. 30, American Home Products Corp.'s total employee benefit assets increased 4% from a year earlier. Defined benefit assets were unchanged during the same period; defined contribution assets increased 11%.
Defined benefit managers:
Domestic equities: Sanford Bernstein; J.P. Morgan; Putnam; Fidelity; Target; Wedge Capital.
International equities: Putnam; J.P. Morgan; Walter Scott.
Domestic fixed-income: PIMCO, J.P. Morgan; State Street Research.
Real estate: Equitable; J.P. Morgan.
Venture capital managers: Hancock; T. Rowe Price.
Defined contribution managers: Fidelity; John K. Dwight (GICs).
The master trustee and global custodian for the defined benefit plan is Northern Trust; for the defined contribution plan, Fidelity.
Key personnel overseeing the investment management of the fund are Richard Fichtel, director, benefit plan investments, and Jack O'Connor, treasurer. Overseeing the defined contribution plan are Ralph Mondare, director, and John Sandi, manager.
American Stores Co.
($ millions)
Total assets 3,374
401(k) 3,374
Total DC contributions 158
Defined contribution asset mix:
Company stock 8.8%
Other stock 49.6%
Fixed income 40.4%
Cash equivalents 0.5%
Other 0.7%
SALT LAKE CITY, Utah - As of Sept. 30, American Stores Co.'s total employee benefit assets increased 13% from a year earlier. All assets are defined contribution.
Defined contribution managers:
Domestic equities: ICAP; Lazard Freres; Fayez Sarofim; Brinson; RCM; Babson; Snyder; Wasatch; Duncan Hurst.
International equities: Baring; Rowe Price-Fleming; Templeton.
Domestic fixed-income: PIMCO; LB&T; Standish, Ayer; Harris; Loomis Sayles; Neuberger.
International fixed-income: Putnam; Morgan Grenfell; Mercury.
Real estate: RREEF, LaSalle.
The master trustee and global custodian is Fidelity Management Trust Co.
Key personnel overseeing the investment management of the fund are Duane Whitney, director-retirement plans, and Scott Bergeson, senior vice president-human resources.
Ameritech
($ millions)
Total assets* 16,183
Defined benefit* 12,005
Total defined contribution* 4,178
Employer DB contributions 0
*Pensions & Investments estimate
CHICAGO - As of Sept. 30, P&I estimates Ameritech's total employee benefit assets increased 10% from a year earlier. Defined benefit assets and defined contribution assets increased 10% during the same period, according to the P&I estimate.
Employer contributions to the defined benefit plan remained unchanged at zero, according to its 1995 annual report.
Key personnel overseeing the investment management of the fund are William Stephens, chief investment officer; Susan Manske, director-capital markets; and Jane Western, director-investment operations. Overseeing the defined contribution plan are Mr. Stephens, Ms. Western and Michael Chard, manager-savings plan.
Amoco Corp.
($ millions)
Total assets 5,800
Defined benefit 2,400
401(k) 3,400
Employer DB contributions 100
Benefit payments 231
Total DC contributions 195
The fund uses:
Stock options
Bond options
Stock index futures
Fixed-income futures
Short selling
Swaps
Defined benefit asset mix:
Stocks 78%
Fixed income 14%
Cash equivalents 1%
Real estate equity 2%
Other 5%
Defined contribution asset mix:
Company stock 65%
Other stock 12%
Fixed income 2%
Cash equivalents 21%
CHICAGO - As of Sept. 30, Amoco Corp.'s total employee benefit assets increased 11.5% from a year earlier. Defined benefit assets increased 9% during the same period; defined contribution assets increased 13%.
Employer contributions to the defined benefit plan increased 54%; benefits paid decreased 22%.
Defined benefit managers:
Domestic equities: Franklin Portfolio; Nicholas-Applegate; Travelers (TIMCO); Dimensional Fund; First Quadrant; Martingale; Numeric; Standish Ayer; Statistical Science.
International equities: State Street Global; APT Investment; WorldInvest.
Domestic fixed-income: PIMCO; Fischer Francis; Lazard Freres.
Real estate: Equitable Real Estate.
Defined contribution managers:
Domestic equities: Bankers Trust.
Domestic fixed-income: Bankers Trust; Brinson Partners.
Balanced: State Street Global.
The master trustee and global custodian is Chase Manhattan.
Key personnel overseeing the investment management of the defined benefit and defined contribution plans are Marvin L. Damsma, director-trust investments, and John S. Ruey, manager-trust investments.
Arizona Retirement System
($ millions)
Total assets 14,409
Defined benefit 14,409
Employer DB contributions 151
Benefit payments 494
Internally managed assets:
Defined benefit 1,000
Defined benefit asset mix:
Stocks 60.7%
Fixed income 35.6%
Cash equivalents 2.0%
Real estate equity 0.3%
Mortgages 1.4%
PHOENIX, Ariz. - As of Sept. 30, Arizona Retirement System's total employee benefit assets increased 13.7% from a year earlier. All assets are defined benefit.
Employer contributions to the defined benefit plan decreased 4%; benefits paid increased 13%.
Defined benefit managers:
Domestic equities: Axe-Houghton; Barclays Global; IDS; INVESCO; J.P. Morgan; Valley Ventures.
International equities: Axe-Houghton; Barclays Global; Capital Guardian; Mellon Capital.
Domestic fixed-income: Axe-Houghton; Duff & Phelps; IDS; J.P. Morgan.
Real estate: Bank One.
The master custodian is Mellon Trust.
Key personnel overseeing the investment management of the fund are LeRoy Gilbertson, director; Paul Matson, senior investment manager; and Oliver Campbell, trader.
Arkansas Teacher
Retirement System
($ millions)
Total assets 4,826
Defined benefit 4,826
Employer DB contributions 140
Benefit payments 170
Internally managed assets:
Defined benefit 175
Defined benefit asset mix:
Stocks 66.5%
Fixed income 25.4%
Cash equivalents 2.0%
Real estate equity 0.3%
Mortgages 3.3%
Other 2.5%
LITTLE ROCK, Ark. - As of Sept. 30, the Arkansas Teacher Retirement System's total employee benefit assets -all defined benefit - increased 14.3% from a year earlier.
Employer contributions to the plan held steady; benefits paid increased 9%.
Defined benefit managers:
Domestic equities: Munder; Oppenheimer; ICC; Alliance; Bjurman; INVESCO; Kennedy Capital.
International equities: Scudder, Stevens; Brinson; Govett.
Domestic fixed-income: First Capital.
Other: Heartland Capital.
The domestic custodian is First Commercial Trust; the global custodian is Northern Trust.
Key personnel overseeing the investment management of the fund are Bill Shirron, executive director, and G. Wayne Greathouse, associate director.
Atlantic Richfield Co.
($ millions)
Total assets 4,330
Defined benefit 2,820
401(k)/457 1,510
Employer DB contributions 105
Benefit payments 257
Total DC contributions 130
Internally managed assets:
Defined benefit 2,323
The fund uses:
Stock options
Bond options
Fixed-income futures
Short selling
Managed futures
Defined benefit asset mix:
Stocks 68.0%
Fixed income 19.7%
Cash equivalents 4.5%
Real estate equity 4.6%
Other 3.2%
Defined contribution asset mix:
Company stock 57%
Other stock 20%
Fixed income 4%
Cash equivalents 19%
LOS ANGELES - As of Sept. 30, Atlantic Richfield Co.'s total employee benefit assets increased 9% from a year earlier. Defined benefit assets increased 9% during the same period, as did defined contribution assets.
Employer contributions to the defined benefit plan increased 144%; benefits paid decreased 21%.
Defined benefit managers:
International equities: LGT; Capital Guardian; Rowe Price-Fleming; TCW; Emerging Markets Growth.
Domestic fixed-income: W.R. Huff.
Real estate: Lehndorff; AEW; Metric.
Defined contribution managers:
Domestic equities: Eagle; Equinox.
International equities: Capital Guardian.
Domestic fixed-income: Miller Anderson; PIMCO.
Money market: Payden & Rygel; Western Asset.
The master trustee, master custodian and global custodian is State Street Bank & Trust.
Key personnel overseeing the investment management of the fund are Beverly L. Hamilton, president/chief investment officer; Richard W. Steenken, director of domestic equity; and Richard Miller, director of fixed income. Ms. Hamilton oversees the defined contribution plan as well.
AT&T Co.
($ millions)
Total assets 26,233
Defined benefit 18,811
Total defined contribution* 7,422
Employer DB contributions 0
Benefit payments 861
Total DC contributions* 475
*ATTIMCO estimate
Internally managed assets:
Defined benefit 1,355
The fund uses:
Stock options
Stock index futures
Fixed income futures
Swaps
Defined benefit asset mix:
Stocks 69.5%
Fixed income 19.3%
Real estate equity 9.3%
Mortgages 1.0%
Other 0.9%
Defined contribution asset mix:
Company stock 37%
Other stock 27%
Fixed income 17%
GICs/BICs 5%
Cash equivalents 1%
Other 13%
NEW YORK - AT&T Co.'s total employee benefit assets declined 54% since June 30, 1995. The decline is due to the break-up of the telecommunications giant.
Defined benefit assets declined 56% and defined contribution assets, 49%.
Employer contributions to the defined benefit plan remained at zero; benefits paid decreased 59%.
Defined benefit managers:
Domestic equities: Ariel Capital; Axe Houghton; Batterymarch Financial; Barclays Global; Capital Guardian Trust; Chancellor Trust; Columbus Circle; Denver Investment Advisors; Dimensional Fund Advisors; Equinox Capital; Franklin Portfolio Associates; INVESCO; Jennison Associates; Kennedy Capital; J.P. Morgan; RCM Capital; State Street Global; State Street Research; United Capital Management; Wellington Asset.
International equities: Batterymarch Financial; Capital Guardian; Franklin Portfolio; Morgan Grenfell; Morgan Stanley; J.P. Morgan; RhumbLine Advisors; State Street Global.
Fixed income: Jennison Associates; John Hancock Mutual Life; Lincoln Capital; Mellon Bank; J.P. Morgan; PIMCO; Prudential Asset Management; Putnam; Standish Ayer & Wood; Western Asset.
Real estate: Alliance Capital; Allegis; AEW; Corporate Property Investors; O'Connor; Natural Resources; Batterymarch Financial; Cabot; Copley; First Reserve Energy; GE Capital; Goldman Sachs; Heitman; Jones Lang Wootton; Koll Investment; Morgan Stanley Asset; RREEF; Sentinel; Tiger Real Estate; UBS; Wachovia Bank of Georgia; Westmark; Yarmouth.
Private equity: Abbott; BlackRock; Butler Capital; Warburg, Pincus.
Global asset allocation: TCW.
Cash: J.P. Morgan.
Defined contribution managers:
Domestic equity: Bankers Trust; Miller, Anderson; Dodge & Cox.
International equity: Barclays Global; Capital Guardian.
Domestic fixed income: Brown Brothers; Standish Ayer.
International fixed income: J.P. Morgan.
Lifecycle: Brinson.
The master trustee is Northern; the global custodian is Chase Manhattan.
Key personnel overseeing the investment management of both the defined benefit and defined contribution plans are David P. Feldman, chairman and chief executive officer, AT&T Investment Management Co.; and Robert E. Angelica, president, ATTIMCO.
