Kodak Pension Office Shut Down
Posted on 03/01/2024
Eastman Kodak’s US$ 4 billion pension office is being scrapped. Boston’s NEPC will take over to direct the account. NEPC works with governments, institutions, families, and individuals. It has 360 employees and US$ 1.6 trillion under advisement. NEPC is an employee-owned company. Kodak’s pension was known for investing with hedge funds and in private equity. The office generated US$ 1.1 billion over three years, surpassing expectations.
The measure was taken as the pension fund is overfunded and grew from just over $100 million at the end of 2019 to about $1.2 billion at the end of 2022, an amount that represents more than half of Kodak’s assets. The plans had about $4.2 billion in assets at the end of 2022, the latest year that the company has disclosed.
