Goodyear Tire & Rubber Co.
($ millions)
Total assets 4,848
Defined benefit 2,876
401(k)/457 1,972
Employer DB contributions 57
Benefit payments 126
Total DC contributions 152
The fund uses:
Stock index futures
Defined benefit asset mix:
Stocks 66.1%
Fixed income 26.4%
Cash equivalents 5.1%
Private equity 2.4%
Defined contribution asset mix:
Company stock 29.2%
Other stock 31.4%
Fixed income 1.6%
GICs/BICs 33.4%
Loans 4.4%
AKRON, Ohio - As of Sept. 30, Goodyear Tire & Rubber Co. total employee benefit assets increased 27.3% from a year earlier. Defined benefit assets increased 26.5% during the same period; defined contribution assets increased 28.6%.
Employer contributions to the defined benefit plan decreased 21.9%; benefits paid increased 7.7%.
Defined benefit managers:
Domestic equities: State Street Global; State Street Research; Bank of America; Key Bank; AIM; Oak; Brinson; Nicholas-Applegate; Sanford Bernstein.
International equities: Morgan Stanley; Clay Finlay; Baillie Gifford.
Domestic fixed-income: Loomis Sayles; J.P. Morgan.
Other: Canterbury; J.W. Childs; DLJ; Hicks Muse; Latin America Capital; H&Q Asia; Chancellor; Warburg Pincus.
Defined contribution managers:
Domestic equities: Northern Trust; American Century; Franklin.
International equities: Templeton.
Lifecycle: State Street Global.
Stable value: PRIMCO.
The master trustee/custodian and global custodian is Northern Trust.
Key personnel overseeing the investment management of both funds are Duane H. Smith, director, global benefits financing; and Carrie M. Sawyer, investment analyst.
GTE Corp.
($ millions)
Total assets 20,228
Defined benefit 16,092
401(k)/457 4,136
Employer DB contributions 0
Benefit payments 806
Total DC contributions 271
Internally managed assets:
Defined benefit 4,235
Defined contribution 2,829
The fund uses:
Stock options
Bond options
Stock index futures
Fixed-income futures
Defined benefit asset mix:
Stocks 67%
Fixed income 23%
Cash equivalents 2%
Private equity 6%
Real estate equity 2%
Defined contribution asset mix:
Company stock 42%
Other stock 39%
Fixed income 5%
GICs/BICs 11%
Cash equivalents 3%
STAMFORD, Conn. - As of Sept. 30, GTE Corp.'s total employee benefit assets increased 14% from a year earlier. Defined benefit assets increased 18% during the same period; defined contribution assets increased 1%. Employer contributions to the defined benefit plan remained unchanged at zero; benefits paid increased 10%.
Defined contribution managers:
Domestic equities: Fidelity; Morgan Stanley; Warburg Pincus.
International equities: Fidelity; Templeton; Morgan Stanley.
Domestic fixed-income: Fidelity; Miller Anderson.
The master trustee/custodian and global custodian is Bankers Trust.
The key person overseeing both plans is T. Britton Harris, president of GTE Investment Management Co.
Halliburton Co.
($ millions)
Total assets 3,793
Defined benefit 58
Total defined contribution 3,735
Employer DB contributions 0
Benefit payments 3
Total DC contributions 173
The fund uses:
Bond options
Fixed-income futures
Managed futures
Defined benefit asset mix:
Stocks 61%
Fixed income 34%
Cash equivalents 5%
Defined contribution asset mix:
Company stock 5%
Other stock 43%
Fixed income 26%
GICs/BICs 23%
Cash equivalents 3%
DALLAS - As of Sept. 30, Halliburton Co.'s total employee benefit assets increased 18% from a year earlier. Defined benefit assets increased 176% during the same period; defined contribution assets increased 17%.
Employer contributions to the defined benefit plan were dropped; benefits paid increased 50%.
Defined benefit managers:
Domestic equities: Ark; Emerging Growth; Fayez Sarofim; GAMCO Investors; Husic Capital; Liberty; State Street Research.
International equities: Brinson; Northern Cross; Schroder; Templeton.
Domestic fixed-income: Loomis, Sayles; PIMCO; Sovran.
Global fixed-income: Putnam.
Defined contribution managers:
Domestic equities: Ark; Emerging Growth; Fayez Sarofim; GAMCO Investors; Husic Capital; Liberty; State Street Research.
International equities: Brinson; Northern Cross; Schroder; Templeton.
Domestic fixed-income: BEA; Loomis, Sayles; Neuberger & Berman; PIMCO; Putnam; Sovran; State Street Global; State Street Research; TCW.
International fixed-income: Putnam, State Street Research.
The master trustee/custodian and global custodian is State Street Bank & Trust Co.
Key personnel overseeing the investment management of both funds are Nathaniel H. Duffield, director-trust investments; and Sharon Parkes, manager-trust investments.
State of Hawaii Employees'
Retirement System
($ millions)
Total assets 8,353
Defined benefit 8,353
Employer DB contributions 322
Benefit payments 433
Internally managed assets:
Defined benefit 105
The fund uses:
Bond options
Stock index futures
Fixed-income futures
Swaps
Defined benefit asset mix:
Stocks 60%
Fixed income 31%
Cash equivalents 1%
Real estate equity 3%
Mortgages 1%
Other 4%
HONOLULU - As of Sept. 30, Employees' Retirement System State of Hawaii total employee benefit assets, all of which are defined benefit, increased 21% from a year earlier.
Employer contributions to the defined benefit plan increased 12%; benefits paid decreased 5%.
Defined benefit managers:
Domestic equities: Alliance; Barrow, Hanley; Bidwell & Riddell; Delaware Investment; Denver Investment; Hanson; Pacific Century; Independence Investment; Oppenheimer; TCW; Mellon Capital.
International equities: Bank of Ireland; Daiwa; Nomura; Schroder: UBS Int'l; State Street Global.
Domestic fixed-income: Bradford & Marzec; Brinson; HCM; Pacific Income; PIMCO; Scudder Kemper.
International fixed-income: Oechsle International; PIMCO.
Real estate: Allegis; John Hancock; SSR; PSI; Westmark: Heitman; Jones Lang Wooten; INVESCO.
Emerging market: Capital International; Scudder Kemper.
Alternative: Abbott.
The master trustee/custodian and global custodian is Bankers Trust.
Key person overseeing the investment management of the fund is Stanley Siu, administrator.
The 1199 Healthcare
Employees Pension Fund
($ millions)
Total assets* 4,775
Defined benefit 4,775
*Pensions & Investments estimate
NEW YORK - As of Sept. 30, P&I estimates the employee benefit assets of The 1199 Healthcare Employees Pension Fund totaled $4.7 billion. The estimate is based on the $4 billion the company reported as of Dec. 31, 1996, in The Money Market Directory.
Key personnel overseeing the investment management of the fund are John Norris, investment officer; Jack Marco, president; and Roland Grant, chief financial officer.
