Texaco Inc.
($ millions)
Total assets 5,000
Defined benefit 1,700
Total defined contribution 3,300
Employer DB contributions 75
Total DC contributions 120
The fund uses:
Stock index futures
Defined benefit asset mix:
Stocks 70%
Fixed income 24%
Cash equivalents 1%
Real estate equity 5%
Defined contribution asset mix:
Company stock 52%
Other stock 26%
Fixed income 5%
Cash equivalents 14%
Other 3%
WHITE PLAINS, N.Y. - As of Sept. 30, Texaco Inc.'s total employee benefit assets increased 24% from a year earlier. Defined benefit assets increased 20% during the same period; defined contribution assets increased 26%.
Employer contributions to the defined benefit plan decreased 25%.
Defined contribution manager: Vanguard.
The master trustee/custodian is Chase Manhattan.
Texas County & District
Retirement System
($ millions)
Total assets 5,227
Defined benefit 5,227
Employer DB contributions 312
Benefit payments 296
Internally managed assets 5,227
Defined benefit asset mix:
Fixed income 100%
AUSTIN, Texas - As of Sept. 30, the Texas County & District Retirement System's employee benefit assets increased 8%. All assets are defined benefit.
Employer contributions plan increased 99%.
The master trustee/custodian is Mellon Trust.
The key person overseeing the investment management of the fund is Ron Schultz, investment officer.
Employees Retirement
System of Texas
($ millions)
Total assets 16,432
Defined benefit 15,794
Defined contribution* 638
*P&I estimate
Internally managed assets:
Defined benefit 5,486
The fund uses:
Swaps
Defined benefit asset mix:
Stocks 48.7%
Fixed income 48.7%
Cash equivalents 2.6%
AUSTIN, Texas - As of Sept. 30, the Employees Retirement System of Texas' total employee benefit assets increased an estimated 21% from a year earlier. Defined benefit asset increased 21%.
Defined benefit managers:
Domestic equities: Montag & Caldwell; Sanford C. Bernstein.
International equities: Morgan Stanley.
Domestic fixed-income: Miller Anderson Sherrerd; Brinson.
The master trustee/custodian and global custodian is Chase Manhattan Bank.
Key personnel overseeing the investment management of the fund are Kathy Reissman, interim investments manager; Jim Sherwin, senior investments officer; and Jay Holland, international portfolio manager.
Texas Municipal
Retirement System
($ millions)
Total assets 6,400
Total defined contribution 6,400
Internally managed assets 6,400
Defined contribution asset mix:
Stock 1.5%
Fixed income 95%
Cash equivalents 3.5%
AUSTIN, Texas - As of Sept. 30, the Texas Municipal Retirement System's total employee benefit assets, all defined contribution assets, increased 18.5% from a year earlier.
The master custodian is Chase.
Key personnel overseeing the investment management of the plan are Preston G. Craig, investment officer, and Gary W. Anderson, director.
Teacher Retirement System
of Texas
($ millions)
Total assets 64,221
Defined benefit 64,221
Employer DB contributions 956
Benefit payments 2,209
Internally managed assets 64,221
The fund uses:
Stock options
Bond options
Defined benefit asset mix:
Stocks 63.5%
Fixed income 32.5%
Cash equivalents 2.0%
Real estate equity 0.4%
Mortgages 1.5%
Other 0.1%
AUSTIN, Texas - As of Sept. 30, Teacher Retirement System of Texas's total employee pension assets, which consists solely of a defined benefit fund, increased 24.3% from a year earlier.
Defined benefit managers:
Real estate (advisory only): GE Capital; L.J. Melody; LaSalle Partners.
Partnerships (advisory only): Texas Growth Fund.
The master custodian and global custodian is Northern Trust.
Key personnel overseeing the investment management of the fund are Martin J. Walker, chief investment officer; Bennett Woodward, core investment officer; Michael Brakebill, midcap investment officer; and James Hille, international investment officer.
Textron Inc.
($ millions)
Total assets 5,991
Defined benefit 4,081
Total defined contribution 1,910
*401(k)/457 1,845
Employer DB contributions 5
Benefit payments 212
Total DC contributions 101
Defined benefit asset mix:
Stocks 59.4%
Fixed income 30.5%
Cash equivalents 0.9%
Real estate equity 5.5%
Other 3.7%
Defined contribution asset mix:
Company stock 80.9%
Other stock 8.9%
Fixed income 2.0%
GICs/BICs 7.9%
Other 0.3%
PROVIDENCE, R.I. - As of Sept. 30, Textron Inc.'s total employee benefit assets increased 21% from a year earlier. Defined benefit assets increased 15% during the same period; defined contribution increased 36%.
Employer contributions to the defined benefit plan decreased 50%; benefits paid increased 9%.
Defined benefit managers:
Domestic equities: Fidelity; Delaware Investment; Sanford C. Bernstein; Putnam; BGI; David L. Babson; Loomis Sayles.
International equities: Lazard Freres.
Domestic fixed-income: Phoenix Duff & Phelps; Income Research & Management; Loomis Sayles; TCW; Putnam; BGI.
Real estate: RREEF.
Other managers: Dorrance Street Capital.
Defined contribution managers:
Domestic equities: Delaware Investment; State Street Global; BGI.
Domestic fixed-income: Putnam; Phoenix Duff & Phelps.
Real estate: RREEF.
The master trustee/custodian and global custodian is State Street.
Key personnel overseeing the investment management of the fund are Deborah A. Imondi, assistant treasurer; Louise A. Fortin, director, pension investments; and Edward C. Arditte, treasurer and senior vice president. Overseeing the defined contribution plan are Ronald A. St. Pierre, manager, benefits administration; and Ms. Imondi.
Travelers Insurance
($ millions)
Total assets* 4,214
Defined benefit 2,760
Total defined contribution 1,454
*Pensions & Investments estimate
HARTFORD, Conn. - As of Sept. 30, P&I estimates the employee benefit assets of Travelers Insurance totaled $4.214 billion. The estimate is based on the $3.5 billion estimated as of a year earlier.
TRW Inc.
($ millions)
Total assets 5,599
Defined benefit 3,158
Total defined contribution 2,441
Employer DB contributions 9
Benefit payments 166
Total DC contributions 141
Internally managed assets:
Defined benefit 84
The fund uses:
Stock index futures
Fixed-income futures
Defined benefit asset mix:
Stocks 58.0%
Fixed income 31.6%
Cash equivalents 2.6%
Real estate equity 7.8%
Defined contribution asset mix:
Company stock 47.8%
Other stock 30.7%
Fixed income 1.0%
GICs/BICs 20.5%
CLEVELAND - As of Sept. 30, TRW Inc.'s total employee benefit assets increased 16.6% from a year earlier. Defined benefit assets increased 15% during the same period; defined contribution assets increased 18%.
Employer contributions to the defined benefit plan decreased 31%; benefits paid increased 26%.
Defined benefit managers:
Domestic equities: Sanford C. Bernstein; Boston Co.; Chancellor; Fiduciary Asset; Goldman Sachs; J.P. Morgan; Provident; WestPeak; Investment Counselors of Maryland; Pilgrim Baxter.
International equities: Baring; Bernstein; J.P. Morgan; LSV; Morgan Grenfell; State Street Global.
Domestic fixed-income: Hoisington; PIMCO.
Global fixed-income: J.P. Morgan; Morgan Grenfell.
Real estate: Campbell-Radnor; Cohen & Steers; DRA; Heitman; Schroder.
Cash: Boston Asset.
Defined contribution manager: Bankers Trust.
The master trustee/custodian and global custodian is Boston Safe Deposit.
Key personnel overseeing the investment management of the fund are Robert M Hamje, president and chief investment officer of TRW Investment Management, and Bruce L. Dirks, director, investments. Overseeing the defined contribution plan is Wil Steigerwald, manager.
