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Alcatel-Lucent Pensions Tutorial

Alcatel-Lucent provided a Pensions Tutorial (and Benefits) for financial analysts on June 17, 2008. This section will provide downloads from the Alcatel-Lucent web site for interested readers.

The Outline of the Pensions Tutorial
The tutorial was announced on the Web site for analysts. It provided downloadable files and a call in number for those who were not able to attend. Read the original Web page here.

The Slides
About 55 slides, in tutorial fashion, were posted on the Web site for downloading. The chart on page 38 summarizes the financial data of pension and benefit plans. These appear to use international IFRS accounting rules, which differ from the requirements in the US for ERISA filings, which are the controlling regulations for the plan sponsor. Read the slides here.

The Audio Transcript of the Tutorial
The Alcatel-Lucent Website provided dialup access to an audio transcript of the conference, which lasted over two hours. This transcript was recorded and converted into a downloadable, compressed MP3 file. It's a fairly lengthy download (60 mbytes). Shorter excerpts are in the links that follow. You'll need an MP3 player to hear it. On most systems, the player (like RealPlayer) will load automatically. Click here to download and listen to the transcript.

Audio Excerpt: Asset Allocation
The allocation of the pension trust assets has been changed to provide more emphasis on fixed income securities. This direction is often label LDI (Liability Driven Investments). Click for a short, industry-written description. Then, click here and listen to the audio excerpt.

Audio Excerpt: Pension Governance
As part of the Q&A, the Alcatel-Lucent speakers responded to a number of questions, including the description of the compensation for the investment team and whether there had been considering to the corporation retrieving  the surpluses in the pension fund. Cickk here to listen to the audio excerpt.

Audio Excerpt: Other Q&As
There other general questions asked by the analysts in attendance - including merging of different plans and transerring surplus assets from one plan to another. Click here to listen to this excerpt.

 

 

 

 

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