Sears Roebuck and Co.
($ millions)
Total assets 11,896
Defined benefit 1,981
401 (k)/457 9,915
Benefit payments 181
Internally managed assets:
Defined benefit 566
Defined contribution 9,9915
The fund uses:
Stock index futures
Fixed-income futures
Defined benefit asset mix:
Stocks 66.7%
Fixed income 25.1%
Cash equivalents 0.5%
Private equity 4.0%
Real estate equity 3.1%
Other 0.6%
Defined contribution asset mix:
Company stock 56.5%
Other stock 20.2%
Fixed income 14.5%
Cash equivalents 8.8%
HOFFMAN ESTATES, Ill. - As of Sept. 30, Sears Roebuck and Co.'s total employee benefit assets, including Allstate's fund, were $11.9 billion. Defined benefit assets increased 12.5% over a year earlier.
Defined benefit managers:
Domestic equities: Dimensional Fund Advisors; Lincoln; Jurika & Voyles; Edgar Lomax; Dreihaus; Janus; Crabbe Huson; MFS; DePrince; Chicago Corp.
International equities: State Street; Acadian; Capital Guardian; Walter Scott; Lazard Freres; Wellington; RCB Global; Pictet; J.P. Morgan; Nicolas Applegate.
Real estate: AEW.
Venture Capital: The Chicago Corp.
The master trustee and global custodian for the defined benefit plan is Chase Manhattan. The master trustee for the defined contribution plan is Northern Trust.
Key personnel overseeing the investment management of both funds are Stanley H. Wright, president of Sears Investment Management Co.; Michael F. Norton, vice president fixed-income; and Jonathan Leight, director of portfolio strategy.
Sheet Metal Workers
National Pension Fund
($ millions)
Total assets* 4,177
Defined benefit 4,161
Total defined contribution 16
*Pensions & Investments estimate
ALEXANDRIA, Va. - As of Sept. 30, P&I estimates the employee benefit assets of Sheet Metal Workers National Pension Fund totaled $4.18 billion. The estimate is based on the $3.7 billion in defined benefit assets and $13.8 million in defined contribution assets, the union reported as of Dec. 31, 1996, and March 31, 1997.
Key personnel overseeing the investment management of the fund are Andy Rubin, controller; and Marc LeBlanc, administrator.
Shell Oil Co.
($ millions)
Total assets 14,873
Defined benefit 6,146
Total defined contribution 8,727
*401(k)/457 1,448
Employer DB contributions 0
Benefit payments 287
Total DC contributions 192
Internally managed assets:
Defined benefit 1,539
The fund uses:
Stock index futures
Fixed-income futures
Managed futures
Defined benefit asset mix:
Stocks 69.7%
Fixed income 19.6%
Cash equivalents 2.9%
Private equity 4.2%
Real estate equity 1.8%
Other 1.8%
Defined contribution asset mix:
Company stock 24%
Other stock 38%
GICs/BICs 38%
HOUSTON - As of Sept. 30, Shell Oil Co.'s total employee benefit assets increased 19% from a year earlier. Defined benefit assets increased 22% during the same period; defined contribution assets increased 18%.
Defined benefit managers:
Domestic equities: Independence Investments; Fayez Sarofim; Alliance; Dodge & Cox; Sanford Bernstein; BGI; Goldman Sachs; Investment Research; Westpeak Investment Advisors; Turner Investment Advisors.
International equities: Morgan Stanley; Daiwa; Goldman Sachs; BGI; Genesis; HSBC-HK.
Domestic fixed-income: BEA; Smith Graham; Seix; Goldman Sachs.
Real estate: RREEF; Equitable; CAREW.
Other managers: BECap; T.H. Lee; Landmark; Equitable Capital; TCW; American Industrial; GE Ltd. Partnership; Warburg Pincus; Zell/Chillmark; O'Donnell & Masur; Philadelphia Ventures; Prudential; Triad; AM Technology Fund.
Defined contribution managers:
Domestic equities: Fidelity.
International equities: Fidelity.
Domestic fixed-income: Fidelity.
Balanced: J.P. Morgan, Fidelity.
The master trustee/custodian and global custodian for the defined benefit plan is Mellon Trust; Fidelity handles those duties for the defined contribution plan.
Key person overseeing the investment management of both funds is Pervis Thomas, chief investment officer.
Siemens Corp.
($ millions)
Total assets* 3,971
Defined benefit 1,935
Total defined contribution 2,036
*Pensions & Investments estimate
NEW YORK - As of Sept. 30, P&I estimates the employee benefit assets of Siemens Corp. totaled $3.971 billion. The estimate is based on the $3.79 billion the company reported in the Money Market Directory.
Key personnel overseeing the investment management of the fund are Harry Zike, vice president and controller; Lawrence Cavanaugh, director-corporate benefits; Wade Kent, director-benefits administration; and Angelika Loerke-Touroff manager-benefits administration.
South Carolina
Retirement System
($ millions)
Total assets 17,721
Defined benefit 16,629
401(k)/457 1,092
Employer DB contributions 443
Benefit payments 751
Total DC contributions 91
Internally managed assets:
Defined benefit 16,629
Defined benefit asset mix:
Fixed income 95%
Cash equivalents 5%
Defined contribution asset mix:
Stock 20%
GICs/BICs 80%
COLUMBIA, S.C. - As of Sept. 30, the South Carolina Retirement System's total employee benefit assets increased 6.7% from a year earlier. Defined benefit assets increased 10.1% during the same period; defined contribution assets increased 14.6%.
Employer contributions to the defined benefit plan increased 5.2%; benefits paid increased 7.7%.
Defined contribution managers:
Domestic equities: Vanguard; Vista; American Century; John Hancock.
Balanced: American Century.
The master custodian is Bank of New York.
