Lucent Technologies Inc.
($ in millions)
Total 401(k) assets $11,800
No. of 401(k) plans 1
Eligible employees 110,000
Participation rate 75%
Total 401(k) contributions $809
Employee contributions $485
Employer contributions $324
MORRISTOWN, N.J. -- In 1997, Lucent Technologies Inc. matched employee contributions 50% of the first 6% of pay contributed for management employees and 66.4% of the first 6% of pay contributed for nonmanagement workers. The match is cash for management employees and company stock for nonmanagement employees.
The company's plan uses mutual funds and commingled funds.
The five most heavily used investment vehicles are: U.S. fixed income; company stock; AT&T stock; U.S. indexed equity fund; and Lucent Equity Income.
The plan offers daily valuation and daily switching.
401(k) bundled service provider: Fidelity.
Minnesota Mining
& Manufacturing Co.
($ in millions)
Total 401(k) assets $3,650
No. of 401(k) plans 2
Eligible employees 38,500
Participation rate 81%
Total 401(k) contributions $227
Employee contributions $146
Employer contributions $81
ST. PAUL, Minn. -- In 1997, Minnesota Mining & Manufacturing Co. matched employee contributions 35% up to 6% of pay. The match is company stock.
The company's plans use mutual funds, commingled funds and separate account managers.
The five most heavily used investment vehicles are: a stock index fund; a stable value fund; Windsor Stock Fund; a large-cap growth stock fund; and an international stock fund.
The plans offer daily valuation and daily switching.
401(k) plan service providers: Hewitt; Vanguard; Harbor Capital; State Street.
Mobil Oil Corp.
($ in millions)
Total 401(k) assets* $5,855
No. of 401(k) plans 1
* From P&I data
FAIRFAX, Va. -- The 401(k) plan service providers for Mobil Oil Corp., according to Money Market Directory, were Bankers Trust, AIM, Franklin, Jennison, Merrill Lynch, MFS, Templeton.
Monsanto Co.
($ in millions)
Total 401(k) assets* $3,386
No. of 401(k) plans 1
* From P&I data
ST. LOUIS -- The 401(k) plan service providers for Monsanto Co., according to Money Market Directory, were Northern Trust, Delaware, Dodge & Cox, Equinox, Fischer Francis, Jennison, Lincoln Capital, Mellon Capital, NISA, Rowe Price-Fleming, RCM, Standish Ayer, State Street Research and Hewitt.
Motorola Inc.
($ in millions)
Total 401(k) assets $5,409
No. of 401(k) plans 1
Eligible employees 79,215
Participation rate 100%
Total 401(k) contributions $351
Employee contributions $101
Employer contributions $250
SCHAUMBURG, Ill. -- In 1997, Motorola Inc. matched employee contributions up to 2% on the first 3% of pay. The match is cash.
The company's plan uses separate account managers.
The five most heavily used investment vehicles are: balanced fund; an equity fund; company stock fund; and a short-term bond fund.
401(k) plan service providers: Northern Trust; Jennison; Ark; Lincoln Capital; Boston Co.; Independence; Morgan Grenfell; Brinson Partners; Scudder Kemper; Stein Roe; Harris Investment; Weiss, Peck & Greer.
National Automobile Dealers
Association Retirement Trust
($ in millions)
Total 401(k) assets* $3,209
* P&I estimate
MCLEAN, Va. -- The 401(k) plan service provider for the National Automobile Dealers Association Retirement Trust, according to Money Market Directory, was Crestar Bank.
Northrop Grumman Corp.
($ in millions)
Total 401(k) assets* $3,838
No. of 401(k) plans 2
* From P&I data
LOS ANGELES -- The 401(k) plan service providers for Northrop Grumman Corp., according to Money Market Directory, were Bankers Trust; Capital Guardian; Fischer Francis; Forstman-Leff; Jennison; RCM; State Street Research; Coopers & Lybrand; Certus; T. Rowe Price; Frank Russell; and Northern Trust.
Pacific Gas and Electric Co.
($ in millions)
Total 401(k) assets $2,830
No. of 401(k) plans 1
Eligible employees 30,700
Participation rate 88%
Total 401(k) contributions $124
Employee contributions $92
Employer contributions $32
SAN FRANCISCO -- In 1997, Pacific Gas and Electric Co. matched employee contributions up to 75% up to 6% of pay. The match is cash.
The company's plan uses commingled funds and separate account managers.
The five most heavily used investment vehicles are: an S&P 500 index fund; company stock; a stable value fund; a moderate asset allocation fund; and a Russell 2500 index fund.
The plan offers daily valuation and daily switching.
401(k) plan service providers: State Street Global Advisors; PRIMCO.
J.C. Penney Co. Inc.
($ in millions)
Total 401(k) assets* $4,715
No. of 401(k) plans 1
* From P&I data
PLANO, Texas -- The 401(k) plan service providers for J.C. Penney Co. Inc., according to Money Market Directory, were State Street Bank and T. Rowe Price.
Pfizer Inc.
($ in millions)
Total 401(k) assets $3,292
No. of 401(k) plans 1
Eligible employees 16,411
Participation rate 87%
Total 401(k) contributions $148
Employee contributions $107
Employer contributions $41
NEW YORK -- In 1997, Pfizer Inc. matched employee contributions 4% up to 6% of pay. The match is company stock.
The five most heavily used investment vehicles are: company stock; an S&P 500 index fund; a fixed-income fund; and a money market fund.
401(k) plan service providers: Northern Trust; Hewitt Associates.
Philip Morris Cos.
($ in millions)
Total 401(k) assets $7,214
No. of 401(k) plans 7
Eligible employees 55,000
Participation rate 40%
Total 401(k) contributions $202
Employee contributions $46
Employer contributions $156
NEW YORK -- In 1997, Philip Morris Cos. provided no match in its plans.
The plans use commingled funds.
The five most heavily used investment vehicles are: an S&P 500 index fund; GIC fund; company stock; American Century Heritage fund; and a balanced fund.
The plans offer daily valuation and daily switching.
401(k) plan service providers: Bankers Trust; Hewitt; American Century.
