American Stores Co.
($ millions)
Total assets 4,062
401(k)/457 4,062
Total DC contributions 178
Defined contribution asset mix:
Company stock 15.1%
Other stock 48.4%
Fixed income 35.8%
Cash equivalents 0.5%
Other 0.2%
SALT LAKE CITY -- As of Sept. 30, American Stores Co.'s total employee benefit assets, all defined contribution, increased less than 1%from a year earlier.
During the past year, the fund took top honors among corporate plan sponsors in the 1998 Pensions and Investments Defined Contribution Investment Education Awards. The company's video featured Coyote Pete and Trigger (his shopping cart) in the parking lot of an American Stores supermarket.
Defined contribution managers:
Domestic equities: Brinson; Lazard; ICAP; Sarofim; Dresdner RCM; Babson; Snyder; Wasatch; Duncan-Hurst.
Global equities: Capital Guardian; Janus.
Domestic fixed-income: Harris; Tattersall; PIMCO; Standish; Loomis, Sayles .
Global fixed-income: Brandywine; Goldman.
Real estate: RREEF; LaSalle; Westmark.
Other: Neuberger & Berman.
The master trustee/custodian and global custodian is Fidelity Management Trust Co.
Key personnel overseeing the investment management of the plan are Duane Whitney, director, retirement plans, and Scott Bergeson, senior vice president, human resources.
Ameritech Corp.
($ millions)
Total assets 19,523
Defined benefit 13,424
401(k)/457 6,099
Employer DB contributions 0
Benefit payments 775
Total DC contributions 233
Defined benefit asset mix:
Domestic stocks 48.3%
Foreign stocks 17.7%
Domestic fixed income 20.3%
Foreign fixed income 6.2%
Private equity 5.2%
Real estate equity 2.3%
Defined contribution asset mix:
Company stock 66.0%
Other stock 19.4%
Fixed income 2.0%
Stable value 12.6%
CHICAGO -- As of Sept. 30, Ameritech Corp.'s total employee benefit assets increased 5% from a year earlier. Defined benefit assets decreased 3% during the same period; defined contribution assets increased 28%.
Like the previous year, Ameritech did not contribute to its defined benefit plan; benefits paid decreased 2%.
During the past year, Ameritech named Susan Manske, formerly director-risk management, the chief investment officer. She replaced William Stephens, who joined Husic Capital Management, San Francisco, as executive vice president and chief strategist.
In addition, sweeping changes at the fund are expected following the completion of Ameritech's planned merger with SBC Communications Inc., San Antonio.
In a previous merger with Pacific Telesis Group, SBC made big changes at the pension fund, including staff layoffs and external manager reviews.
The master trustee/custodian and global custodian for the defined benefit and defined contribution plans is State Street Bank.
Key personnel overseeing the investment management of the fund are: Ms. Manske; Robert Crichton, director-equity investments; and James Hayes, director-fixed income investments.
Overseeing the defined contribution plan are Ms. Manske, Mr. Crichton and Jane Western, director-investment administration.
Amoco Corp.
($ millions)
Total assets 7,700
Defined benefit 2,900
Total defined contribution 4,800
401(k)/457 4,600
Employer DB contributions 70
Benefit payments 320
Total DC contributions 160
The fund uses:
Stock options
Bond options
Stock index futures
Fixed-income futures
Short selling
Swaps
Defined benefit asset mix:
Domestic stocks 53%
Foreign stocks 18%
Domestic fixed income 16%
Cash equivalents 6%
Private equity 5%
Real estate equity 2%
Defined contribution asset mix:
Company stock 58%
Other stock 16%
Fixed income 3%
Cash equivalents 18%
Other 5%
CHICAGO -- As of Sept. 30, Amoco Corp.'s total employee benefit assets increased 5.5% from a year earlier.
Defined benefit assets decreased 3% during the same period; defined contribution assets increased 12%.
Employer contributions to the defined benefit plan decreased 30%; benefits paid increased 31%.
The merger of Amoco and British Petroleum was announced in August and approved by the Federal Trade Commission at the end of the year.
The new company BP Amoco Corp. will oversee the combined employee benefit assets of the two firms.
Defined contribution managers:
Domestic equities: State Street Global; Bankers Trust.
International equities: State Street Global.
Domestic fixed-income: Bankers Trust.
Cash: Brinson.
The defined benefit master trustee/custodian and global custodian is Chase; the defined contribution master trustee/custodian and global custodian is State Street Bank.
Key personnel overseeing investment management of both funds are Marvin L. Damsma, director, trust investments; and John S. Ruey, manager, trust investments.
Atlantic Richfield Co.
($ millions)
Total assets 4,341
Defined benefit 2,541
401(k)/457 1,800
Employer DB contributions 0
Benefit payments 250
Total DC contributions n/a
Internally managed assets:
Defined benefit 942
The fund uses:
Stock options
Stock index futures
Defined benefit asset mix:
Domestic stocks 45%
Foreign stocks 13%
Domestic fixed income 34%
Cash equivalents 3%
Private equity 4%
Real estate equity 1%
Defined contribution asset mix:
Company stock 55%
Other stock 25%
Fixed income 4%
Cash equivalents 16%
LOS ANGELES -- As of Sept. 30, Atlantic Richfield Co.'s total employee benefit assets decreased 15% from a year earlier. Defined benefit assets decreased 19% during the same period; defined contribution assets decreased 10%.
Employer contributions to the defined benefit plan dropped to zero from $2 million; benefits paid increased 50%.
During the past year, the fund conducted a search for a bundled provider for its 401(k) plan, which previously was managed internally by ARCO Investment Management. The fund hired State Street Bank & Trust, the master trustee/custodian for its defined benefit plan.
Defined benefit managers:
International equities: Capital Group.
Real estate: AEW.
Defined contribution managers:
Domestic equities: Equinox; Alliance; BGI.
International equities: Capital Group.
Domestic fixed-income: Miller Anderson; PIMCO.
The master trustee/custodian and global custodian for both plans is State Street Bank & Trust.
The key person overseeing the investment management of both plans is Beverly Hamilton, president of ARCO Investment Management Co.
