Wednesday, January 26, 2005

Don't try this at Home

don't try this at home!
According to Plansponsor, the Northern Trust Universe, which represents the performance results of over 300 large institutional investment plans that subscribe to Northern Trust performance measurement services, the median ERISA defined benefit plan in the universe was up 12.2% in 2004, while during the same period public funds also gained 12.2%, and foundations and endowments were up 11.8%. Over a three-year period,the median ERISA plan was up 7.6%, and 3.8% over five years, while public funds and foundations and endowments posted 8.6% and 8.1%, respectively, for three years, and both plan types returned 4.1% for the last 5 years.

Now here's something different!
AP/Forbes reports that SBC Communications Inc. is reversing course and bringing back a traditional pension plan for 55,000 of its managers, replacing newfangled retirement plans similar to those that have drawn criticism at a number of other companies. The switch by the telecommunications giant is the rare exception at a time of great uncertainty for both employers and workers with a stake in traditional pension plans.


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