Bakery and Confectionery Union and Industry International Pension Fund
Total assets 4,658
Defined benefit 4,658
Employer DB contributions 150
Benefit payments 262
Defined benefit asset mix:
Domestic stocks 51.7%
Foreign stocks 5.3%
Domestic fixed income 40.0%
Foreign fixed income 0.9%
Cash equivalents 2.1%
KENSINGTON, Md.-- As of Sept. 30, the Bakery and Confectionery Union and Industry International Pension Fund's total employee benefit assets, all defined benefit, increased 1.6% from a year earlier.
Employer contributions increased less than 1%; benefits paid increased 6%.
Defined benefit managers:
Domestic equities: Schroder; Lazard Freres; TCW; Alliance; Systematic Financial; Amalgamated Bank.
International equities: Lazard Freres.
Domestic fixed income: Schroder; Lazard Freres; Loomis, Sayles; Stein Roe; BGI.
International bonds: Schroder Capital; Lazard Freres.
Other managers: AFL-CIO Housing; AFL-CIO Building; MEPT.
The master custodian is Mercantile-Safe Deposit.
Key personnel overseeing the investment management of the fund are Robert J. Bergin, executive director; and Robert D. Martin, manager-administrative services.
Total assets* 13,574
Defined benefit 5,793
Total defined contribution 7,781
CHARLOTTE, N.C. -- As of June 30, Pensions & Investments estimates the employee benefit assets of BankAmerica Corp. totaled $13.57 billion. The estimate is based on the $4.3 billion NationsBank, which acquired BankAmerica, reported as of March 1998 and the $9.17 billion BankAmerica reported in June 1998 in Money Market Directory.
Key personnel overseeing the investment management of the fund are Holly Deem, senior vice president, and Richard Laiderman, executive vice president.
Bell Atlantic Master Trust
Total assets 47,357
Defined benefit 33,887
Total defined contribution 13,470
Employer DB contributions 0
Benefit payments 1,135
Total DC contributions 608
Internally managed assets:
Defined benefit 3,319
Defined contribution 2,456
The fund uses:
Stock index futures
Defined benefit asset mix:
Domestic stocks 40.1%
Foreign stocks 17.7%
Fixed income 28.6%
Cash equivalents 0.4%
Private equity 6.1%
Real estate equity 5.2%
Global balanced 1.9%
Defined contribution asset mix:
Company stock 59%
Other stock 20%
Fixed income 3%
Stable value 15%
NEW YORK -- As of Sept. 30, Bell Atlantic Corp.'s total employee benefit assets decreased 0.5% from the combined assets reported by Bell Atlantic and NYNEX a year earlier. Defined benefit assets decreased 4.7% during the same period, defined contribution assets increased 9.2%. Benefits paid decreased 32.6%.
On Jan. 1, 1998, the assets of the defined benefit plans of NYNEX Corp. and Bell Atlantic were merged into a $36 billion defined benefit plan, following the 1997 merger of the two telecom giants. Part of the assets of the two defined contribution plans were also merged. The new company retained 17 of its defined contribution managers and dropped four, leaving participants with 12 options, which will remain unbundled. There were major management changes as well. Candace Cox, who as president and CIO of Bell Atlantic Management Co. had guided the merger of the two plans, was terminated and replaced by William F. Heitmann on May 1.
Bell Atlantic's pension assets are projected to grow to $79 billion in two years, once the company's takeover of GTE Corp. is completed.
The defined benefit master trustee/custodian and global custodian for both plans is Mellon Bank.
Key personnel overseeing the investment management of the fund are William Heitmann, president; Marie LoGuidice, vice president, internal investment management. Overseeing the defined contribution plan are Mr. Heitmann; Ms. LoGuidice; and Mark Menchin, vice president asset allocation.