Cincinnati Bell Inc. is studying how to split its more than $1 billion in pension assets when it spins off its nontelephone businesses later this year to newly formed Convergys Corp.
Mercer is assisting the company in the asset study and Actuarial Sciences Associates in the actuarial study, said Christopher C. Stenger, pension fund manager. He said it is too early to determine how the pension assets will be divided between the two companies.
CinBell has $700 million in defined benefit and $300 million in 401(k) assets. Its defined benefit fund has 10 equity and fixed-income managers, eight venture capital and seven real estate managers, according to published reports. Its 401(k) plan uses T. Rowe Price.
CinBell plans to register later this month with the SEC to sell up to 20% of Convergys this summer. CinBell expects to spin off to its shareholders the rest of Convergys by the end of the year.
