BellSouth Corp.
($ millions)
Total assets 24,654
Defined Benefit 16,440
Total defined contribution 8,214
Employer DB contributions 0
Benefit payments 845
Total DC contributions 309
Internally managed assets:
Defined benefit 1,026
The fund uses:
Stock options
Stock index futures
Fixed-income futures
Short selling
Managed futures
Swaps
Defined benefit asset mix:
Domestic stocks 37%
Foreign stocks 19%
Domestic fixed income 16%
Foreign fixed income 6%
Cash equivalents 1%
Private equity 5%
Real estate equity 11%
Market neutral 5%
Defined contribution asset mix:
Company stock 57%
Other stock 23%
Fixed income 2%
Stable value 18%
ATLANTA -- As of Sept. 30, BellSouth Corp.'s total employee benefit assets decreased 0.1% from a year earlier. Defined benefit assets decreased 7.3% during the same period; defined contribution assets increased 18.2%.
Employer contributions to the defined benefit plan decreased to zero; benefits paid decreased 13.4%.
Defined benefit managers: 3i PLC; 3i UK; ABN AMRO Causeway; Acadian; AEW; AgriVest; Alliance; AT&T; Andrew M. Carter; Ark; BGI; Canal Land; Charterhouse Group International; CRA Real Estate; Cravey, Green & Wahlen; Dimensional Fund Advisors; Donaldson, Lufkin & Jenrette; Doughty Hanson; EGI; Equity Financial and Management; ERE Rosen; First Quadrant; Forstmann Little; FX Concepts; GE Investment; Gemini Capital Fund; Heitman; Highland; HSBC; INVESCO; Investment Research; J.& W. Seligman; J.P. Morgan; Jennison; Kohlberg Kravis Roberts; KPS; McKinley; National Asset; Noro-Moseley; PIMCO; Schroder Ventures; SG Interests; Southeast Bank; Southeastern Asset; State Street Global; State Street Research; TCW; Northern Trust Co. of Connecticut; O'Connor Group; Timberland; Wachovia Bank of Georgia; Warburg-Pincus; Westpeak.
Defined contribution managers:
Domestic equities: Bankers Trust; Dimensional Fund Advisors; Fidelity; T. Rowe Price; Vanguard; First Quadrant.
International equities: Dimensional Fund Advisors.
Domestic fixed-income: PIMCO; PRIMCO.
The defined benefit master trustee/custodian and global custodian is State Street Bank. The defined contribution master trustee/custodian is Bankers Trust.
Key personnel overseeing the investment management of both funds are Kincaid Patterson, managing director-trust asset management; Al Gasiorek, director-trust investments; and Tom Harvey, director-public markets group.
Bethlehem Steel Corp.
($ millions)
Total assets 6,337
Defined benefit 5,432
401(k)/457 905
Employer DB contributions 425
Benefit payments 525
Total DC contributions 56
Internally managed assets:
Defined benefit 3,598
Defined benefit asset mix:
Domestic stocks 65%
Foreign stocks 2%
Domestic fixed income 29%
Foreign fixed income 1%
Cash equivalents 3%
Defined contribution asset mix:
Company stock 4%
Other stock 48%
Stable value 48%
BETHLEHEM, Pa. -- As of Sept. 30, Bethlehem Steel Corp.'s total employee benefit assets increased 8.6% from a year earlier. Defined benefit assets increased 10.6% during the same period; defined contribution assets decreased 2.2%.
Employer contributions to the defined benefit plan increased 6.3%; benefits paid increased 5%.
Defined benefit managers:
International equities: Putnam.
International fixed-income: J.P. Morgan.
Defined contribution managers:
Domestic equities: Fidelity.
Domestic fixed-income: State Street; CIGNA.
The global custodian for the defined benefit plan is Bankers Trust. The defined contribution master trustee/custodian and global custodian is State Street Bank.
The key person overseeing the investment management of the defined benefit fund is J. Gerard Mead, pension fund manager. Overseeing the defined contribution plan is Thomas Broderick, manager, employee benefits administration.
