Total assets* $21,250
Defined benefit $13,907
Defined contribution $7,343
LEXINGTON, Mass. — As of Sept. 30, Pensions & Investments estimates the employee benefit assets of Raytheon Co. totaled $21.25 billion. The estimate is based on the $18 billion P&I estimated the company had as of Sept. 30, 2002.
The key person overseeing the investment management of the funds is Norman Pao, director, pensions and investments.
Employees Retirement System of Rhode Island
Total assets $5,688
Defined benefit $5,561
Defined contribution $127
DEFINED BENEFIT PLAN:
Employer DB contributions $342
Benefit payments $490
Domestic stocks 47.5%
Domestic fixed income 17.9%
International stocks 23.3%
Cash equivalents 0.3%
Private equity 5.3%
Real estate equity 0.3%
Internally managed assets $22
DEFINED CONTRIBUTION PLAN:
Total DC contributions $14
PROVIDENCE, R.I. — As of Sept. 30, the Employees Retirement System of Rhode Island's total employee benefit assets increased 15.5% from a year earlier. Defined benefit assets increased 16% during the same period; defined contribution assets decreased 13%.
Employer contributions to the defined benefit plan increased 79%; benefits paid increased 12%.
During the past year, the fund hired the Townsend Group as its real estate consultant, in line with its plans to boost its allocation to real estate to 5%, from less than 1% as of September 2003. Following the fund's adoption of an asset allocation study that called for a shift to indexed equities from actively managed equities, the system terminated Provident Investment's active large-cap domestic equity mandate and J.P. Morgan Fleming's active large-capital core equity portfolio and transferred those assets to an index mandate run by SSgA. On Oct. 31, the fund terminated Putnam as manager of $651 million in active international equities, after regulators charged the company with civil fraud in the burgeoning mutual fund trading scandal.
DEFINED BENEFIT MANAGERS:
Domestic equities: SSgA, PIMCO, NorthPointe, Wellington, Wasatch, Columbia.
International equities: Bank of Ireland.
Wilshire Associates is investment consultant for the defined benefit plan; Townsend is real estate consultant .
Key personnel overseeing the investment management of the defined benefit plan are Paul J. Tavares, Rhode Island treasurer; Joan M. Caine, deputy treasurer for finance; and Stephen F. Iafrate, fiscal manager-administrative officer. Mr. Tavares and Ms. Caine oversee the investment management of the defined contribution plan.