MERCK & CO. INC. - PUBLIC EMPLOYEES RETIREMENT SYSTEM OF MISSISSIPPI.

Pensions & Investments, January, 1999

Merck & Co. Inc. ($ millions) Total assets 4,485 Defined benefit 1,754 401(k)/457 2,731 Employer DB contributions 143 Benefit payments 135 Total DC contributions 160 The fund uses: Stock index futures Fixed-income futures Short selling Defined benefit asset mix: Domestic stocks 53.7% Foreign stocks 23.2% Fixed income 12.6% Cash equivalents 2.8% Real estate equity 3.0% Other 4.7% Defined contribution asset mix: Company stock 69.0% Other stock 27.4% Fixed income 1.3% Other 2.3% WHITEHOUSE STATION, N.J.

-- As of Sept. 30, Merck & Co. Inc.'s total employee benefit assets increased 8.6% from a year earlier. Defined benefit assets decreased 6.4% during the same period; defined contribution assets increased...

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