AT&T Co.
($ millions)
Total assets 30,755
Defined benefit 21,099
Total defined contribution 9,656
401(k)/457 9,359
Employer DB contributions 0
Benefit payments 1,976
Total DC contributions 1,009
Internally managed assets:
Defined benefit 1,873
The fund uses:
Stock options
Stock index futures
Fixed-income futures
Swaps
Defined benefit asset mix:
Stocks 63.2%
Fixed income 19.7%
Cash equivalents 0.1%
Private equity 8.9%
Real estate equity 7.4%
Other (natural resources) 0.7%
Defined contribution asset mix:
Company stock 42%
Other stock 10.3%
Fixed income 8%
GICs/BICs 10.9%
Cash equivalents 3.4%
Other 25.4%
BERKELEY HEIGHTS, N.J. - As of Sept. 30, AT&T's total employee benefit assets increased 17% from a year earlier. Defined benefit assets increased 12% during the same period.
Benefits paid increased 130%.
Defined benefit managers:
Domestic equities: Ariel; Axe-Houghton; Batterymarch; Capital Guardian; Chancellor; Columbus Circle; Denver Investment; Dimensional Fund; Equinox; Franklin; Invesco; Jennison; J.P. Morgan; Kennedy Capital; Lincoln Capital; RCM Capital; State Street Global; State Street Research; United Capital; Wellington.
Domestic fixed-income: Jennison; John Hancock; Lincoln Capital; Mellon Bank; PIMCO; Putnam; Prudential; Standish Ayer & Wood; Western Asset.
International managers: Batterymarch; S.C. Bernstein; Brown Brothers; Capital Guardian; Franklin; J.P. Morgan; Morgan Grenfell; Morgan Stanley; Morgan Stanley-Asia; State Street Global.
Real estate: AEW; Heitman; Morgan Stanley; WestBrook; WestMark.
Natural resources managers: AgriVest; Alliance Capital; UBS Asset; Wachovia.
Private equity managers: Abbott; Galen; Warburg Pincus; Whitney; Allen McGuire; American Ind. Partners; Claton & Dubilier; Frostman Little; Freedman Spogli; Morgan Stanley; PMI Mezzanine; Prudential-Asia; SK Equity.
Defined contribution managers:
Domestic equities: Bankers Trust; Miller Anderson; Dodge & Cox.
International equities: Capital Guardian; Barclays.
Domestic fixed-income: Brown Brothers; Standish Ayer.
International fixed-income: J.P. Morgan.
Lifecycle: Brinson.
The master trustee/custodian is Northern Trust; the global custodian is Chase Manhattan.
Key personnel overseeing the investment management of both the defined benefit and defined contribution plans are S.L. Prendergast, chairman and chief executive officer of AT&T Investment Management Corp.; and Robert Angelica, president and chief investment officer of ATTIMCO.
Bakery and Confectionery
Union and Industry
International Pension Fund
($ millions)
Total assets 4,584
Defined benefit 4,584
Employer DB contributions 149
Benefit payments 247
Defined benefit asset mix:
Stocks 57.3%
Fixed income 35.6%
Cash equivalents 3.1%
Real estate equity 3.2%
Mortgages 0.8%
KENSINGTON, Md. - As of Sept. 30, Bakery and Confectionery Union and Industry International Pension Fund's total employee benefit assets - all defined benefit - increased 22% from a year earlier.
Employer contributions to the defined benefit plan increased 4%; benefits paid increased 6%.
Defined benefit managers:
Domestic equities: Schroder; Lazard Freres; TCW; Alliance; Systematic Financial Management; Amalgamated Bank of New York.
International equities: Lazard Freres.
Domestic fixed-income: Schroder; Lazard Freres; Loomis, Sayles; Stein, Roe & Farnham; BGI.
International fixed-income: Schroder; Lazard Freres.
Real estate: Carey Winston.
Other manager: AFL-CIO Housing Investment Trust; AFL-CIO Building Investment Trust; Multi-Employer Property Trust.
The master custodian is Mercantile Safe Deposit & Trust Co.
Key personnel overseeing the investment management of the fund are Robert J. Bergin, executive director; and Robert D. Martin, manager administrative services.
