10 largest DC plan sponsors have different investment vehicle mixes

The 10 largest defined contribution plan sponsors, excluding the Federal Retirement Thrift Investment Board, used various investment vehicles, based on available responses to Pensions & Investments’ annual top 1,000 retirement plan sponsor survey.

Intel had 97% of its DC assets in collective investment trusts, while the State University of New York had the same portion invested in mutual funds. The California State Saving Plus Program had 91.5% placed in separate accounts.

Plan assets ranged from $24.5 billion to $59.2 billion as of Sept. 30.

The 10 largest public DC plans also had varied mixes, primarily among collective investment trusts, mutual funds and separate accounts. The Florida State Board of Administration and Michigan State Retirement System had 82.5% and 75% of their DC assets invested in CITs, respectively. California State Savings Plus Program and Teachers' Retirement System of the City of New York plans each had over 90% of their assets in separate accounts.

Seven out of 10 of the corporate DC plans had the majority of their assets invested in CITs. Delta Air Lines and RTX primarily utilized separate accounts. Virtually all of Southwest Airlines’ DC assets were in mutual funds.