Allstate Insurance Co.
($ millions)
Total assets* 8,341
Defined benefit 3,600
Total defined contribution 4,741
*P&I estimate
NORTHBROOK, Ill. -- As of June 30, Pensions & Investments estimates the employee benefit assets of Allstate Insurance Co. totaled $8.34 billion. The estimate is based on the $3.6 billion in defined benefit assets reported as of June 1998 and $4.364 billion in defined contribution assets reported as of December 1997 for the company in the Money Market Directory.
During the past year, Edward Liddy, president, chief operating officer and chairman of the profit-sharing plan investment committee was named chairman and chief executive officer of Allstate Corp. as of Jan. 1. Allstate is also in the process of searching for a new chief financial officer, as Thomas Wilson was named president of Allstate Life & Saving.
Key personnel overseeing the investment management of the fund are Mr. Liddy and Joan Crockett, senior vice president-human resources.
Aluminum Co. of America
($ millions)
Total assets 6,581
Defined benefit 4,772
401(k)/457 1,809
Employer DB contributions 96
Benefit payments 280
Total DC contributions 112
The fund uses:
Stock index futures
Fixed-income futures
Defined benefit asset mix:
Domestic stocks 36%
Foreign stocks 4%
Domestic fixed income 49%
Private equity 5%
Real estate equity 6%
Defined contribution asset mix:
Company stock 30%
Other stock 40%
Fixed income 15%
Stable value 15%
PITTSBURGH -- As of Sept. 30, Aluminum Co. of America's total employee benefit assets increased less than 1%from a year earlier. Defined benefit assets increased less than 1%during the same period; defined contribution assets decreased 1%
Employer contributions to the defined benefit plan increased 109% benefits paid increased 8%
Defined benefit managers:
Domestic equities: Mellon Capital; Capital Guardian; Brinson.
International equities: Marathon; Paribas; Mercator; American Express; Capital Guardian.
Domestic fixed-income: Mellon Bond; Prudential; State Street Research.
International fixed-income: TCW Group.
Real estate: Lend Lease; RREEF; Lazard Freres; AEW; Schroder.
Others: Blackstone; Sequoia; RII; Baring; Warburg-Pincus; KKR; Charles River; WR Huff; Hellman & Friedman.
Defined contribution managers:
Domestic equities: American Funds; Putnam.
Domestic fixed-income: Fidelity.
Mellon Trust is master trustee/custodian for both the defined benefit and defined contribution plans; Mellon also is global custodian for the defined benefit plan.
Key personnel overseeing the investment management of the fund are Joseph C. Pellegrino, vice president, pension fund investment and analysis; Vernon W. Gollihugh, manager, trust investments; and Felicia F. Bennett, manager, investment services. Overseeing the defined contribution plan are Mr. Pellegrino, Ms. Bennett and Mary Ellen Lammell, director, benefits.
American Airlines Inc.
($ millions)
Total assets 11,180
Defined benefit 5,474
Total defined contribution 5,706
401(k)/457 3,015
Employer DB contributions 167
Benefit payments 770
Internally managed assets:
Defined contribution 76
The fund uses:
Fixed-income futures
Currency futures
Defined benefit asset mix:
Domestic stocks 22.6%
Foreign stocks 16.0%
Domestic fixed income 54.2%
Foreign fixed income 1.9%
Cash equivalents 0.2%
Private equity 4.1%
Real estate equity 0.9%
Currency overlay 0.1%
Defined contribution asset mix:
Stocks 86.0%
Fixed income 11.3%
Stable value 2.7%
FORT WORTH, Texas -- As of Sept. 30, American Airlines Inc.'s total employee benefit assets increased 2%from a year earlier. Defined benefit assets increased 9%during the same period; defined contribution assets decreased 4%
Employer contributions to the defined benefit plan decreased 54% benefits paid increased 106%
American Airlines decided to add three mutual funds and three pre-mixed lifestyle funds to its 401(k) plan, effective this year. The new funds will be a S&P 500 index fund, a small-cap equity fund and an intermediate-term bond fund. On the defined benefit side, the fund has three money managers running paper portfolios of international equities in its search for a new international equity manager. A final decision on who will run the new $100 million portfolio will come in March.
Defined benefit managers:
Domestic equities: Barrow, Hanley Mewhinney & Strauss; Brandywine; Dewey Square; Dreman Value; GSB; Hotchkis & Wiley; Independence Investment; Southeastern Asset.
International equities: Morgan Grenfell; Rowe Price-Fleming; Morgan Stanley; Templeton; Hotchkis & Wiley; Salomon Brothers; J.P. Morgan; Gulfstream.
Domestic fixed-income: Barrow, Hanley, Mewhinney & Strauss; Goldman Sachs; J.P. Morgan; NISA.
Defined contribution managers:
Domestic equities: Barrow, Hanley, Mewhinney & Strauss; Brandywine; GSB; Hotchkis & Wiley; Independence Investment.
International equities: Morgan Stanley; Templeton; Hotchkis & Wiley.
Domestic fixed-income: Barrow, Hanley, Mewhinney & Strauss.
The master trustee/custodian and global custodian is State Street Bank & Trust Co.
Key personnel overseeing the investment management of the defined benefit and defined contribution plans are Nancy A. Eckl, vice president-trust investments; Kirk L. Brown, manager-international investments; and Adriana R. Posada, manager-domestic investments.
