- Introduction & Methodology
- Industry Trends
- Respondent Profile
- Defined Benefit Plans
- Portfolio Characteristics
- LDI Usage
- League Tables
- Vendor Ratings
- Number of Responses and Scores
- Average Scores by Categories
- Vendor Details
- BlackRock
- Goldman Sachs Asset Management
- Jennison Associates
- Legal & General Investment Management America
- NISA Investment Advisors
- PIMCO
- Prudential
- Wellington Management
- Western Asset
Industry Trends
Defined Benefit Plan Status
| All | <$1B | >$1B | ||
| Open to new entrants and accruals | 39% | 45% | 38% | |
| Frozen | 28% | 36% | 27% | |
| Closed to new entrants, members still accruing | 33% | 18% | 35% |
Current Funded Ratio
| All | <$1B | >$1B | ||
| PPA/MAP–21 basis (%) | 88% | 77% | 90% | |
| PPA/24–month average segment rates basis (%) | 69% | 65% | 70% | |
| GAAP PBO basis, for funded plans only (%) | 88% | 81% | 89% |
Plan’s “End Game”
| All | <$1B | >$1B | |
| Keep plan open and maintain | 44% | 60% | 42% |
| Continue to manage/de–risk on balance sheet | 45% | 40% | 46% |
| Offer lump sums | 23% | 25% | 22% |
| Buy–out | 20% | 10% | 21% |
| Freeze plan | 13% | 15% | 13% |
| Close plan to new entrants | 7% | 0% | 7% |
| Other | 7% | 5% | 7% |
| Buy–in | 1% | 0% | 1% |