Key Takeaways
- • Eastman Kodak Co. is disbanding its in-house team that manages the firm's roughly $4 billion of pension investments, according to people with knowledge of the matter cited by Bloomberg.
- • Kodak has begun notifying its investment managers that oversight of the pension program is shifting to Boston-based NEPC.
- • The move is driven by the pension system's overfunded status, which has grown from just over $100 million, according to the people cited by Bloomberg.
- • Kodak's U.S. pension plan held $3.1 billion in assets against $2.2 billion in liabilities as of Dec. 31, 2024, per a publisher context excerpt; this figure postdates the February 29, 2024 story date and should not be read as current at the time of reporting.
Summary
Eastman Kodak Co. is disbanding the team that manages the company's $4 billion pension investments, according to people with knowledge of the matter, as reported by Bloomberg on February 29, 2024. The people requested anonymity because they were discussing confidential information. Kodak, a former photography giant that now also focuses on manufacturing advanced materials and chemicals, has begun informing its investment managers that oversight of the pension program will move to NEPC, a Boston-based investment consultant.
According to the people cited by Bloomberg, the move is driven by the pension system's overfunded status. That surplus has grown substantially from just over $100 million, though the original report was truncated before giving the later figure. Publisher context from other coverage describes the outsourcing as a response to overfunding, with the in-house team having overseen around US$4 billion in pension fund investments.
For context, a separate publisher excerpt reports that Kodak's global retirement assets totaled $6.5 billion as of June 30, 2023, with a funded status of 145%. Those figures predate the February 2024 announcement and are presented here only as background on the scale of the plan's funded position.
According to the people cited by Bloomberg, the move is driven by the pension system's overfunded status. That surplus has grown substantially from just over $100 million, though the original report was truncated before giving the later figure. Publisher context from other coverage describes the outsourcing as a response to overfunding, with the in-house team having overseen around US$4 billion in pension fund investments.
For context, a separate publisher excerpt reports that Kodak's global retirement assets totaled $6.5 billion as of June 30, 2023, with a funded status of 145%. Those figures predate the February 2024 announcement and are presented here only as background on the scale of the plan's funded position.
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