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Archive for November 30th, 2008

FYE 9/30/2008 Pension Investment Return

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For S&P 500 companies with fiscal years ending September 30, the aggregate actual rate of return on assets for global defined benefit pension plans as of the end of the 2008 fiscal year was approximately -7.90%, a year of negative pension investment return after five consecutive years of positive return. Since these companies’ fiscal years ended before the worst investment losses of 2008, experienced during October and November (see, for example, the APM), the 2008 rate of return for the majority of S&P 500 companies, for which the fiscal year will end on December 31, will be even worse unless the investment markets recover significantly during December. Recent historical experience for the FYE 9/30 subset –

  Fiscal Year Ending   Actual Rate of Return
  9/30/2008   -7.90%
  9/30/2007   13.97%
  9/30/2006   9.13%
  9/30/2005   11.69%
  9/30/2004   12.90%
  9/30/2003   6.14%
  9/30/2002   -6.38%

Among the subset of S&P 500 companies with fiscal years ending September 30, every single company had a negative rate of return on pension assets for the year ending in 2008. The company with the worst pension investment return was Franklin Resources, with an estimated -18.99% rate of return, while Rockwell Collins was close behind at an estimated -18.53% rate. The company with the best pension investment return was Walt Disney, with an estimated -0.77% rate, with all other companies worse than an estimated -3% rate.

For this summary, rates of return are calculated via the formula used for the Form 5500 (although of course technically a pension plan’s Form 5500 and the corporation’s 10-k financial report are separate and independent).

(Remember, as I’ve previously disclaimed, posts such as this represent efforts of my favorite pastime. My formal work does not involve any of this, and none of it represents any position or comment that should in any way be attributed to my employer. Likewise, as always, it represents general personal impressions and should not be treated or used as formal professional advice.)

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Written by macheide

30 November 2008 at 2:40 pm

Posted in άctuary


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Keeping all three of my babies busy this morning.

That’s Harry on the left, getting a few things together for the coming workweek. Being a secure government computer, the work I’m doing on Harry isn’t allowed to come over to either of the other two; nor are any of the personal computing activities being done on either of the other two permitted to come over to Harry.

To the right is Susan‘s Sony. Since I don’t have a good, up-to-date version of Office operating on the ancient workhorse that shoulders most of my own personal computing activities, I’ve booted the Sony up for doing a requested review of a powerpoint presentation Nat has prepared. If I didn’t hate the Sony’s keyboard so much, I’d have other personal computing going on in other windows on that machine.

And then there’s Sheeba daring me to throw her off my lap onto the floor again. She’s been having another rough morning. Another crash or two, and instead of using her for today’s blogging and whatnot, I’ll haul out the spare keyboard and run all non-work traffic through the Sony.

So, why all three within reach simultaneously? Why not just one at a time? Well, for one thing, I don’t even need to get that all-too-common we-did-it-again WordPress failscreen to know that I can get a hell of a lot done on either or both of the other two ‘puters simply while waiting around for WordPress to store and load up any new or revised post or page. One of these days, I’ll record a video of one of these sessions, and you can stop laughing.

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Written by macheide

30 November 2008 at 11:52 am

Posted in golem

Not As We Did

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Did the poster flow and was free from grammar/stylistic errors?

one of the grading guidelines
for a poster project for a UH class

Teaching by counter-example.

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Written by macheide

30 November 2008 at 9:24 am

Posted in vagblanc