State Farm Mutual
Automobile Insurance Co.
($ millions)
Total assets 9,200
Defined benefit 6,600
401(k)/457 2,600
BLOOMINGTON, Ill. - As of Sept. 30, State Farm Mutual Automobile Insurance Co. had $9.2 billion in total employee benefit assets.
Key personnel overseeing the investment management of the defined benefit and defined contribution plans are Kurt Moser, vice president-investments; Charles Jordon, superintendent-retirement benefits; and Tom Spicer, manager-benefits and services.
Teamsters, Central States,
Southeast and Southwest
Areas Pension Fund
($ millions)
Total assets 18,718
Defined benefit 18,718
Employer DB contributions 909
Benefit payments 1,488
The fund uses:
Stock index futures
Fixed-income futures
Managed futures
Defined benefit asset mix:
Stocks 51.6%
Fixed income 22.9%
Cash equivalents 11.9%
Real estate equity 9.1%
Other 4.5%
ROSEMONT, Ill. - As of Sept. 30, the Teamsters, Central States, Southeast and Southwest Areas Pension Fund's total employee benefit assets - all defined benefit - were $18.718 billion.
Defined benefit managers:
Domestic equities: BGI; Brinson; Cramer Rosenthal; Frontier; Hellman Jordan; John Levin; MFS Asset; Neuberger & Berman; Nicholas-Applegate; Oak Associates; Provident Investment; Putnam; Rothschild; TCW.
International equities: BGI; Brinson; Genesis; Independence; Lazard Freres; LGT Capital; Marvin & Palmer; Nicholas-Applegate; Oechsle; Pareto; Putnam; Record Treasury; Rowe Price-Fleming; Schroder; Scudder.
Domestic fixed-income: Mellon; Putnam; W.R. Huff.
International fixed-income: Alliance; Brinson; Fiduciary Trust; Fischer Francis Trees & Watts; Lincoln Capital; Morgan Grenfell; PIMCO; Scudder; TCW.
Other domestic: Cohen & Steers; Karsten; LaSalle Advisors; Westmark.
Other international: BGI; Mercury; Putnam.
The master trustee/custodian and global custodian is Mellon Bank.
The key person overseeing the investment management of the fund is Mark F. Angerame, director-finance. The fund operates under the direction of a named fiduciary, Morgan Stanley.
Western Conference
of Teamsters Pension Trust
($ millions)
Total assets* 18,900
Defined benefit 18,900
Employer DB contributions 720
Benefit payments 950
*as of July 31, 1997
The fund uses:
Stock options
Bond options
Stock index futures
Fixed-income futures
Defined benefit asset mix:
Stocks 41.8%
Fixed income 53.2%
Cash equivalents 0.4%
Real estate equity 3.3%
Mortgages 1.3%
SEATTLE - As of July 31, the Western Conference of Teamsters Pension Trust's total employee benefit assets, which consists solely of defined benefit assets, increased 16% from Sept. 30, 1996.
Employer contributions to the defined benefit plan and benefits paid remained at the same level as the previous year.
Defined benefit managers:
Domestic equities: Mellon Capital; BGI; ANB; Goldman Sachs; PIMCO; Pacific Life; J.P. Morgan; Camden Asset; Commonwealth Life.
Domestic fixed-income: Prudential; Goldman Sachs; PIMCO.
Real estate: Prudential; State Street.
Mortgages: Prudential.
Key personnel overseeing the investment management of the fund are Tony Lock, chairman; Owen Bennett, co-chairman; Bill Lubersky, co-chair-investment committee; Mark Endresen, co-chair-investment committee; and Alan Biller, investment adviser.
Tenneco Inc.
($ millions)
Total assets 4,462
Defined benefit 3,967
401(k)/457 495
Employer DB contributions 0
The fund uses:
Stock index futures
Defined benefit asset mix:
Stocks 74%
Fixed income 21%
Cash equivalents 5%
Defined contribution asset mix:
Company stock 31%
Other stock 42%
Fixed income 2%
Cash equivalents 25%
GREENWICH, Conn. - As of Sept. 30, Tenneco Inc.'s total employee benefit assets decreased 5% from a year earlier. Defined benefit assets increased 8% during the same period; defined contribution assets decreased 53%.
Defined benefit managers:
Domestic equities: Fayez Sarofim; American Express; Hotchkis & Wiley; Delaware; Glickenhaus; Nicholas-Applegate; Morgan Stanley; John McStay; Essex; Putnam; Friess; ABN AMRO; J.P. Morgan; Capstone; Weiss Peck & Greer.
International equities: Morgan Stanley; Lloyd George; Schroder.
Domestic fixed-income: State Street Research; STW; J.P. Morgan; W.R. Huff; Capstone; Fischer, Francis.
Other: Menlo Ventures; Healthcare Capital.
Defined contribution managers:
Domestic equities: Fidelity; BGI; Putnam.
International equities: Templeton.
Domestic fixed-income: BGI.
Balanced: Invesco.
The master trustee/custodian and global custodian is Bankers Trust.
The key person overseeing the investment management of the fund is Richard A. Robinson, executive director-investments. Overseeing the defined contribution plan are Kim Bacon, director, and Mr. Robinson.
Tennessee Consolidated
Retirement System
($ millions)
Total assets 19,300
Defined benefit 19,300
Internally managed assets 18,000
The fund uses:
Stock options
Stock index futures
Defined benefit asset mix:
Stocks 36.7%
Fixed income 55.8%
Cash equivalents 7.5%
NASHVILLE, Tenn. - As of Sept. 30, the Tennessee Consolidated Retirement System's total employee benefit assets, all defined benefit, increased 17.6% from a year earlier.
Defined benefit managers:
International equities: LGT; Marathon; J.P. Morgan; Putnam; Newgate; Walter Scott; Yamaichi.
The master trustee/custodian and global custodian is State Street.
Key personnel overseeing the investment management of the fund are Thomas G. Milne, chief investment officer; Jeff Bronnenberg, director of fixed income; and Mike Keeler, director of equities.
Tennessee Valley Authority
Retirement System
($ millions)
Total assets 6,980
Defined benefit 6,000
Total defined contribution 980
*401(k)/457 600
Employer DB contributions 0
Benefit payments 230
Total DC contributions 50
The fund uses:
Bond options
Stock index futures
Fixed-income futures
Defined benefit asset mix:
Stocks 65%
Fixed income 35%
Defined contribution asset mix:
Stock 67%
GICs/BICs 30%
Cash equivalents 3%
KNOXVILLE, Tenn. - As of Sept. 30, the Tennessee Valley Authority Retirement System's total employee benefit assets increased 24% from a year earlier. Defined benefit assets increased 24% during the same period; defined contribution assets increased 24%.
Employer contributions to the defined benefit plan decreased to zero from $49 million; benefits paid increased 10%.
Defined benefit managers:
Domestic equities: Brinson; Wellington; Goldman, Sachs; Equitable Asset; Mellon Capital; Geewax Terker; J.P. Morgan; PIMCO; and Nicholas-Applegate.
International equities: Rowe Price-Fleming and State Street Global.
Domestic fixed-income: Mellon Bond; W.R. Huff; PIMCO; BlackRock; TCW; Putnam; Bradford & Marzec; Western Asset; Taplin, Canida & Habacht.
Defined contribution manager: Fidelity.
The master trustee/custodian and global custodian is Mellon Bank.
Key personnel overseeing the investment management of the defined benefit and the defined contribution plans are Randy Snyder, executive secretary; and Patrick Brackett, investment officer.
