X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

GOLD RETIREMENT WINNER………By most measures, Lucent Technologies Inc.’s 401(k) retirement plan was a very good one: an employee participation rate of almost 90%–well above the industry norm of 66%; an array of cost-effective, professionally managed, institutional-quality investment options; and an award-winning participant education effort–”401(k) cafes”–where employees could gather and learn about Lucent’s 401(k) plan.

But for Lucent, “very good” was just not good enough. Lucent Asset Management Corporation (LAMCO) felt it could do better with the company’s $7.1 billion voluntary 401(k) plan, which LAMCO oversees along with the company’s $34 billion defined benefit (DB) plan that covers the company’s retirees. “The 401(k) plan was–and remains–an excellent one,” says Bradford Wakeman, LAMCO’s director of public market investments. “At the crux of this initiative was a conviction in continuous improvement and trying to better align the defined contribution plan to the defined benefit plan.” Adds Mark Gibbens, Lucent vice president and treasurer, “It was a matter of the team taking [the 401(k)] to the next level.”

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

 

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.