June 2003

Sidebar: Rabble-Rousers

A sampling of activist groups that have sprung up across the US to fight for retirement benefits-and what they have accomplished so far

Sidebar: FDNY Calculated

How New York City Fire Department Pension Fund participants' and survivors' benefits are calculated

MaXXed Out?

A mid-year reminder that there is savings room beyond the match

Bad Timing

Why the furor over American Airlines' disclosure of its executive pension plans?

Upfront Articles

PLANSPONSOR.com news articles that also appeared in the Upfront section of the June issue

Damage Done

Study says impact of options expensing already reflected

War Stories

We all have them: those front-line experiences...

Sidebar: VWAP: Benchmark Or Millstone?

Stephen Berkowitz, Dennis Logue, and Gene Noser wrote their seminal paper on transactions costs back in the late 1980s proposing that the Trade Date Volume Weighted Average Price (VWAP) should be used as a "benchmark" against which to measure trade execution. Ever since, money managers, brokers, and pension funds have argued about the usefulness and appropriateness of VWAP. In its favor are its simplicity and the statistical basis that underpins it. Against it are the fact that it is too simple (if applied to individual trades) and that managers and brokers can "game it" (i.e., assure that they beat it) but, in doing so, they may well disadvantage the funds for which they are responsible.

Reining in Costs

With costs still rising, employers are finding creative ways to achieve long-run control of their health-care bills

Suspension Bridge

Schwab temporarily cuts its 401(k) match, but makes other moves in hopes of keeping up morale

Taking Stock

Managing the risks of company stock

Money Talk

Five, and only five, ways to make money

Largest US funds for 401(k) plans, 1994

Defined Contribution PlansLARGEST US FUNDS FOR 401(K) PLANS, 1994Five top funds in 10 categories most often included in defined contribution plans, ranked by the fund’s assets as of 2/28/94....