- 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
- Dodge & Cox
- Fidelity Investments
- Goldman Sachs Asset Management
- Jennison Associates
- Legal & General Investment Management America
- NISA Investment Advisors
- PIMCO
- Prudential Investments
- Wellington
- Western Asset Management
Past Surveys
Industry Trends
Investable Asset Types
| All | <$5B | >$5B | ||
| Open to new entrants and accruals | 22% | 17% | 28% | |
| Frozen | 36% | 45% | 27% | |
| Closed to new entrants, members still accruing | 34% | 30% | 38% | |
| Other | 8% | 8% | 8% |
Current Funded Ratio
| All | <$5B | >$5B | ||
| PPA/MAP–21 basis (%) | 103% | 101% | 106% | |
| PPA/24–month average segment rates basis (%) | 94% | 93% | 95% | |
| GAAP PBO basis, for funded plans only (%) | 92% | 90% | 94% |
Plan’s “End Game”
| All | <$5B | >$5B | |
| Keep plan open and maintain | 19% | 12% | 27% |
| Continue to manage/de–risk on balance sheet | 50% | 52% | 47% |
| Offer lump sums | 5% | 9% | 1% |
| Buy–out | 13% | 16% | 10% |
| Freeze plan | 4% | 1% | 7% |
| Close plan to new entrants | 3% | 1% | 4% |
| Other | 5% | 7% | 3% |
| Buy–in | 1% | 1% | 0% |