Kodak’s Pension Windfall Points to $137 Billion Opportunity
- Strong markets, higher rates turn pension plans into cash cows
- Mercer’s Jarboe calls it ‘pension opportunity of a lifetime’
The Kodak Tower at the Eastman Kodak Co. headquarters complex in Rochester, New York.
Photographer: Mike Bradley/BloombergInside Eastman Kodak Co., the once-iconic camera maker, a small pension investment team reaped such large gains in recent years that they windfalled themselves out of a job.
The group, managing a pool of retirement assets for more than 37,000 people, poured money into hedge funds and private equity and, in seven years, turned a $255 million deficit into a $1.1 billion surplus.