Prudential Insurance Co.
of America
($ in millions)
Total 401(k) assets $3,500
No. of 401(k) plans 1
Eligible employees 44,000
Total 401(k) contributions $182
Employee contributions $142
Employer contributions $40
NEWARK, N.J. -- In 1997, Prudential Insurance Co. of America matched employee contributions 100%, up to 3% of pay. The match is cash.
The company's plan uses mutual funds and separate account managers.
The five most heavily used investment vehicles are: Prudential Fixed Rate Option; Prudential Small Company Stock Account; Prudential Conservative Stock Account; Jennison Growth Fund; Prudential Stock Index Fund.
The plans offers daily valuation and daily switching.
401(k) bundled service provider: Prudential Investments.
Raytheon Co.
($ in millions)
Total 401(k) assets* $8,405
No. of 401(k) plans 4
* P&I estimate
LEXINGTON, Mass. -- The 401(k) plan service providers for Raytheon Co., according to Money Market Directory, were Bankers Trust, Fidelity, MetLife, Prudential, Vanguard and Northern Trust.
The assets include an estimated $4.958 billion in 401(k) assets of Hughes Electronics, Los Angeles, which Raytheon acquired in 1997. The plans have not been merged.
Rockwell International Corp.
($ in millions)
Total 401(k) assets* $4,400
No. of 401(k) plans 6
Eligible employees 38,000
PITTSBURGH -- In 1997, Rockwell International Corp. matched employee contributions 6%, up to 8% of pay in its largest 401(k) plan. The match is in company stock.
The company's plans use mutual funds, commingled funds and separate account managers.
The most heavily used investment vehicle is a diversified, large-cap equity fund.
The plans offer daily valuation.
SBC Communications Inc.
($ in millions)
Total 401(k) assets $6,231
No. of 401(k) plans 4
SAN ANTONIO, Texas -- In 1997, SBC Communications Inc. acquired Pacific Telesis Group. The companies each had two 401(k) plans, with assets of $2.557 billion and $3.674 billion, respectively. The plans have not yet been merged.
The SBC plans have 63,146 eligible employees and a participation rate of 76%. In 1997, 401(k) contributions totaled $207 million; $139 million from employees, $68 million from the employer.
The PacTel plans had 56,067 eligible employees with a 67% participation rate. In 1997, 401(k) contributions to the PacTel plans totaled $239 million; $158 million from the employees, $81 million from the employer.
SBC matched employee contributions 80% up to 6% of pay in one plan, and 66.6% up to 6% in the other plan. Pacific Telesis Group matched employee contributions 66.6% up to 6% of pay. The match for all four plans is company stock.
Both the SBC plans and Pacific Telesis plans use commingled funds.
The five most heavily used vehicles for the SBC plans are company stock; an S&P 500 index fund; a stable value fund; a global equity fund; and a Lehman Government/Corporate index bond fund.
The Pacific Telesis plans most heavily used investment vehicles are company stock; an S&P 500 index fund; Air Touch stock; a balanced fund; and a stable value fund.
The two SBC plans offer daily valuation and daily switching.
401(k) plan service providers: Bankers Trust, MetLife and Barclays Global Investors for the SBC plans; Bankers Trust, Northern Trust and State Street Global Advisors for the Pacific Telesis plans.
Sears Roebuck & Co.
($ in millions)
Total 401(k) assets $5,105
No. of 401(k) plans 1
Eligible employees 159,000
HOFFMAN ESTATES, Ill. -- In 1997, Sears Roebuck & Co. matched employee contributions up to 70% of pay. The match is company stock.
The company's plan uses separate account managers.
The five most heavily used investment vehicles are: company stock; a balanced fund; money market fund; S&P 500 fund; and a Lehman index bond fund.
The plan offers daily valuation and daily switching.
401(k) plan service providers: Sears Investment Management; State Street Bank.
Shell Oil Co.
($ in millions)
Total 401(k) assets $8,700
No. of 401(k) plans 2
Eligible employees 36,000
Participation rate 95%
Total 401(k) contributions $200
Employee contributions $100
Employer contributions $100
HOUSTON, Texas -- In 1997, Shell Oil Co. did not provide a company match. The oil company makes contributions of company stock in a 401(a) with no employee contributions required.
The company's 401(k) plans use mutual funds and separate account managers.
The most heavily used investment vehicles are a money market fund; U.S. equity fund; company stock; and a balanced fund.
The plans offer daily valuation and daily switching.
401(k) bundled service provider: Fidelity.
State Farm Mutual
Automobile Insurance Co.
($ in millions)
Total 401(k) assets $3,141
No. of 401(k) plans 1
Eligible employees 68,683
Participation rate 89%
Total 401(k) contributions $172
Employee contributions $138
Employer contributions $34
BLOOMINGTON, Ill. -- In 1997, State Farm Mutual Automobile Insurance Co. matched employee contributions up to $75 per month, depending on company profits. The match is cash.
The investment vehicles offered are: an equities account; balanced account; and fixed-income account.
The plan offers daily valuation.
Bundled services are provided by in-house staff.
Texaco Inc.
($ in millions)
Total 401(k) assets $3,200
No. of 401(k) plans 2
Participation rate 97%
Total 401(k) contributions $109
Employee contributions $62
Employer contributions $47
WHITE PLAINS, N.Y. -- In 1997, Texaco Inc. contributed 6% of pay for employees who contributed at least 3%. The employer contribution is company stock.
The company's plans use mutual funds..
The most heavily used investment vehicles are company stock; Vanguard Windsor II; and Vanguard S&P 500 Index.
The plans offer daily valuation and daily switching.
401(k) bundled service provider: Vanguard.
