SGR » Topics » THE U.S. PLANS

These excerpts taken from the SGR 10-K filed Oct 31, 2008.
THE U.S. PLANS
 
The Westinghouse Pension Trust Investment Committee (Committee) has been appointed to review the investment performance and other matters of the U.S. Plans, including development of investment policies and strategies.
 
The asset allocation decision reflects the plans’ return requirements, as well as the Committee’s tolerance for return variability (risk). The assets are invested in long-term strategies and evaluated within the context of a long-term investment horizon. Investments will generally be restricted to marketable securities. Leveraged and high-risk derivative strategies will not be employed.
 
Investment objectives are designed to provide quantitative standards against which to measure and evaluate the progress of the plans, their major asset class composites, and each individual investment manager. The overall objective for the Trust is to generate a rate of return, net of all fees and expenses, in excess of a policy index that is comprised of a weighted average of the market benchmarks for each asset class. The Policy Indices are as follows:
 
         
Policy Index Weight  
Asset Category
 
Market Benchmark Index
 
50%
  U.S. Equity   Wilshire 5000
20%
  International Equity   MSCI ACWI ex-U.S.
30%
  Fixed Income   Lehman Aggregate Bond Index
  Cash Equivalents   U.S. Treasury Bills
 
The assumed long-term rate of return on U.S. Plan assets was determined by taking a weighted average of the expected rates of return on the asset classes. The weights are equal to the portion of the portfolio invested in each class.
 
THE
U.S. PLANS



 



The Westinghouse Pension Trust Investment Committee (Committee)
has been appointed to review the investment performance and
other matters of the U.S. Plans, including development of
investment policies and strategies.


 



The asset allocation decision reflects the plans’ return
requirements, as well as the Committee’s tolerance for
return variability (risk). The assets are invested in long-term
strategies and evaluated within the context of a long-term
investment horizon. Investments will generally be restricted to
marketable securities. Leveraged and high-risk derivative
strategies will not be employed.


 



Investment objectives are designed to provide quantitative
standards against which to measure and evaluate the progress of
the plans, their major asset class composites, and each
individual investment manager. The overall objective for the
Trust is to generate a rate of return, net of all fees and
expenses, in excess of a policy index that is comprised of a
weighted average of the market benchmarks for each asset class.
The Policy Indices are as follows:


 


















































         

Policy Index Weight

 


Asset Category


 


Market Benchmark Index

 


50%


 

U.S. Equity

 

Wilshire 5000


20%


 

International Equity

 

MSCI ACWI ex-U.S.


30%


 

Fixed Income

 

Lehman Aggregate Bond Index





 

Cash Equivalents

 

U.S. Treasury Bills






 



The assumed long-term rate of return on U.S. Plan assets
was determined by taking a weighted average of the expected
rates of return on the asset classes. The weights are equal to
the portion of the portfolio invested in each class.


 




EXCERPTS ON THIS PAGE:

10-K (2 sections)
Oct 31, 2008
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