Xcel Energy Inc.
Total assets* 4,697
Defined benefit 3,471
Total defined contribution 1,226
MINNEAPOLIS - As of June 30, Pensions & Investments estimates the employee benefit assets of Xcel Energy Inc. totaled $4.697 billion. Xcel was formed on Aug. 18, 2000, with the merger of New Century Energies Inc. and Northern States Power Co. The estimate is based on the $1.93 billion New Century reported as of June 30, 2000, and the $3.17 billion Northern States Power reported as of March 31, 2000, according to the Money Market Directory.
Total assets 7,400
Defined benefit 4,200
Defined contribution 3,200
* DEFINED BENEFIT PLAN:
Employer contributions n/a
Benefit payments 430
* DEFINED CONTRIBUTION PLAN:
Corporate 401(k) 3,200
Total contributions 240
STAMFORD, Conn. - As of Sept. 30, Xerox Corp.'s total employee benefit assets decreased 23% from a year earlier. Defined benefit assets decreased 25% during the same period; defined contribution assets decreased 19%.
Defined benefit plan benefits paid increased 9%.
In October, the fund outsourced its day-to-day management to General Motors Asset Management. As part of the deal, Myra Drucker, Xerox pension chief, became chief investment officer for General Motors Trust Co., a wholly owned subsidiary of GMAM. She will lead the company's outsourcing business, which includes overseeing investment management, asset allocation and selection, evaluation and monitoring of investment managers for clients.
MANAGER OF MANAGERS FOR BOTH PLANS: GM Asset Management.
Key person overseeing the investment management of both plans is Ms. Drucker.