($ millions)
Total assets 6,028
Defined benefit 1,919
401(k)/457 4,109
Employer DB contributions 57
Benefit payments 61
Total DC contributions 268
Internally managed assets:
Defined benefit 245
Defined benefit asset mix:
Stocks 73%
Fixed income 27%
Defined contribution asset mix:
Company stock 90%
Other stock 5%
GICs/BICs 5%
ABBOTT PARK, Ill. - As of Sept. 30, Abbott Laboratories' total employee benefit assets increased 24.5% from a year earlier. Defined benefit assets increased 24.3% during the same period; defined contribution assets increased 24.6%.
Employer contributions to the defined benefit plan increased 7.5%; benefits paid increased 10%.
Defined benefit managers:
Domestic equities: Jennison; Sirach; Rosenberg; American Express; Northern Trust.
International equities: Capital Guardian.
Domestic fixed-income: Goldman Sachs; Rosenberg; Putnam.
Defined contribution managers:
Domestic equities and domestic fixed-income: Putnam.
The master trustee/custodian and global custodian is Northern Trust.
The key person overseeing the investment management of both plans is William H.S. Preece Jr., director-retirement funds.
Aetna Inc.
($ millions)
Total assets 5,782
Defined benefit 3,492
401(k)/457 2,290
Employer DB contributions 120
Benefit payments 134
Total DC contributions 106
Internally managed assets:
Defined benefit 2,875
Defined contribution 1,639
The fund uses:
Stock options
Bond options
Stock index futures
Fixed-income futures
Defined benefit asset mix:
Stocks 67%
Fixed income 22%
Cash equivalents 5%
Real estate equity 4%
Mortgages 2%
Defined contribution asset mix:
Company stock 14%
Other stock 33%
GICs/BICs 53%
HARTFORD, Conn. - As of Sept. 30, Aetna Inc.'s total employee benefit assets increased 19% from a year earlier. Defined benefit assets increased 23!! during the same period; defined contribution assets increased 13%.
Employer contributions to the defined benefit plan increased 122%; benefits paid increased 41%.
Defined contribution managers:
Domestic equities: Neuberger & Berman;
American Century.
International equities: Templeton.
Balanced: MFS.
The master trustees/custodians are Fleet Bank, defined benefit, and Mellon Bank, defined contribution.
The key person overseeing the investment management of the defined benefit fund is Russell P. Smith, pension director. Overseeing the defined contribution plan are Mr. Smith and Lawrence Harrington, head of human resources services.
Retirement Systems
of Alabama
($ millions)
Total assets 20,484
Defined benefit 20,484
Employer DB contributions 479
Benefit payments 807
Internally managed assets 20,484
The fund uses:
Stock options
Swaps
Defined benefit asset mix:
Stocks 45.4%
Fixed income 44.4%
Cash equivalents 5.8%
Private equity 0.8%
Real estate equity 3.2%
Mortgages 0.4%
MONTGOMERY, Ala. - As of Sept. 30, Retirement Systems of Alabama's total employee benefit assets increased 31% from a year earlier. All assets are defined benefit.
Employer contributions to the defined benefit plan increased 11%; benefits paid increased 14%.
The safekeeping agent is AmSouth Bank; the global custodian is Morgan Stanley.
David G. Bronner, chief executive officer, oversees investment management of the fund.
Alaska State Pension
Investment Board
($ millions)
Total assets* 10,755
Defined benefit 9,000
401(k)/457 1,755
*Pensions & Investments estimate
Defined benefit asset mix:
Stocks 52%
Fixed income 44%
Real estate equity 2%
Other 2%
JUNEAU, Alaska - As of June 30, P&I estimates the Alaska State Pension Investment Board's employee benefit assets totaled $10.755 billion. The estimate is based on $9 billion in defined benefit assets as of April 30, 1997, and the $1.43 billion in 457 assets as of June 30, 1996, the company reported in the Money Market Directory.
Key personnel overseeing the investment management of the fund are Robert D. Storer, chief investment officer; Chris Phillips, Michael S. Cheung and John R. Jenks, state investment officers; Vernon Voss, cash manager; and Matt Holbert, real estate investment officer.
Allied Signal Inc.
($ millions)
Total assets 13,000
Defined benefit 8,000
401(k)/457 5,000
Internally managed assets:
Defined benefit 1,500
MORRISTOWN, N.J. - As of Sept. 30, Allied Signal Inc.'s total employee benefit assets increased 30% from a year earlier. Defined benefit assets increased 33!! during the same period; defined contribution assets increased 25%
Key personnel overseeing the investment management of the fund are Edward T. Tokar, vice president, investments; Judith Heagstedt, senior portfolio manager, investments and operations; Jay Burden and Roger Matthews, senior portfolio managers, fixed income; and Marc Shapiro and Barbara Schlieber, senior portfolio managers, equities.
Aluminum Company
of America
($ millions)
Total assets 6,563
Defined benefit 4,727
*401(k)/457 1,836
Employer DB contributions 46
Benefit payments 260
The fund uses:
Stock options
Bond options
Stock index futures
Fixed-income futures
Short selling
Managed futures
Defined benefit asset mix:
Stocks 63%
Fixed income 22%
Cash equivalents 2%
Private equity 4%
Real estate equity 6%
Other 3%
Defined contribution asset mix:
Company stock 26%
Other stock 38%
GICs/BICs 36%
PITTSBURGH - As of Sept. 30, Aluminum Company of America's total employee benefit assets increased 21% from a year earlier. Defined benefit assets increased 19% during the same period; defined contribution assets increased 25%.
Employer contributions to the defined benefit plan decreased 74%; benefits paid increased 35%.
Defined benefit managers:
Domestic equities: Mellon Capital; State Street Global; Brinson.
International equities: DFA; Mercator; Capital Guardian; Paribas; American Express; Marathon.
Domestic fixed-income: Mellon; Prudential; State Street Research.
International fixed-income: Strategic; TCW; State Street Global.
Real estate: ERE Yarmouth; RREEF; Schroder; Lazard; Prudential; Hancock.
Other: KKR; Dillon Reed; Advent; Blackstone; Charles River.
Defined contribution managers:
Domestic equities: American Funds; Putnam.
International equities and balanced: American Funds.
Domestic fixed-income: Fidelity.
The master trustee/custodian and global custodian is Boston Safe Deposit & Trust Co.
Key personnel overseeing the investment management of the fund are Joseph C. Pellegrino, vice president, pension fund investment and analysis; Vernon Gollihugh, manager, trust investments; and Felicia F. Bennett, manager, investment services. Key personnel overseeing the investment management of the defined contribution fund are Mary Ellen Lammel, director of benefits; and Mr. Pellegrino.
American Airlines
($ millions)
Total assets 11,009
Defined benefit 5,041
Total defined contribution 5,968
*401(k)/457 2,779
Employer DB contributions 360
Benefit payments 373
Total DC contributions 385
Internally managed assets:
Defined benefit 94
Defined contribution 410
The fund uses:
Fixed-income futures
Defined benefit asset mix:
Stocks 38%
Fixed income 55%
Cash equivalents 3%
Private equity 4%
Defined contribution asset mix:
Other stock 87%
Fixed income 3%
GICs/BICs 3%
Cash equivalents 2%
Other 5%
FORT WORTH, Texas - As of Sept. 30, American Airlines' total employee benefit assets increased 25% from a year earlier. Defined benefit assets increased 20% during the same period; defined contribution assets increased 30%.
Employer contributions to the defined benefit plan increased 39%; benefits paid increased 23%.
Defined benefit managers:
Domestic equities: Barrow Hanley; Brandywine; Dewey Square; GSB; NationsBank; Hotchkis & Wiley; Independence Investment; Southeastern.
International equities: Morgan Grenfell; Morgan Stanley; Rowe Price-Fleming; Templeton; Hotchkis & Wiley.
International fixed-income: Salomon Brothers; J.P. Morgan.
Other Managers: Zell/Merrill; Castle Harlan; Carlyle Partners; Goldman Sachs; Hicks Muse; Equus; GE; Morgan Stanley; Natural Gas Partners; Prentiss Properties; South Street Recovery; Triad Ventures; Whitehall; Zell/Chilmark.
Defined contribution managers:
Domestic equities: Barrow Hanley; Brandywine; GSB; Hotchkis & Wiley; IIA; Dreman; Dewey Square.
International equities: Morgan Stanley; Templeton; Rowe Price-Fleming; Hotchkis & Wiley; J.P. Morgan; Gulfstream Global.
Balanced: Barrow Hanley; Brandywine; GSB; Hotchkis & Wiley; IIA.
The master trustee/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; Kirk Brown, manager-international investments; L'Sheryl Hudson, manager-domestic investments.
American Electric Power
Service Corp.
($ millions)
Total assets 3,886
Defined benefit 2,341
Total defined contribution 1,545
*401(k)/457 584
Employer DB contributions 0
Benefit payments 98
Total DC contributions 80
Internally managed assets:
Defined contribution 506
Defined benefit asset mix:
Stocks 76%
Fixed income 19%
Cash equivalents 3%
Real estate equity 1%
Other 1%
Defined contribution asset mix:
Company stock 28%
Other stock 38%
Fixed income 1%
GICs/BICs 33%
COLUMBUS, Ohio - As of Sept. 30, American Electric Power Service Corp.'s total employee benefit assets increased 21% from a year earlier. Defined benefit assets increased 23!! during the same period; defined contribution assets increased 18%.
Employer contributions to the defined benefit plan remained zero; benefits paid increased 8%.
Defined contribution manager: Fidelity.
The master trustees/custodians are Bank of New York and Fidelity Management Trust Co.
Key personnel overseeing the investment management of the defined benefit and defined contribution plans are Gerald P. Maloney, executive vice president-chief financial officer, and Joseph H. Shepard Jr., manager-corporate benefit trust funds.
