BUILDING PORTFOLIOS: P&G debuts new, improved DC plan; Diversifying beyond company stock is goal of the revamp.(Procter and Gamble improves employee stock ownership plan)(Brief Article)(Statistical Data Included)

Pensions & Investments, July, 2001 by Jacobius, Arleen

CINCINNATI - Procter & Gamble's $11.8 billion profit-sharing, 401(k) and employee stock ownership combination plan has become ``better, cheaper and faster,'' company executives said. Employees now may invest in international equity and small-cap commingled funds managed by Morgan Guaranteed Trust, a division of J.P.

Morgan Chase & Co. that had been available only as part of three asset allocation portfolios, said Thomas J. Mess, director of global business services-employee services at Procter & Gamble Co. Participants can invest individually in all of the investment options contained in the pre-mixed portfolios. To assist, P&G hired J.P. Morgan/American Century to be the plan's first record keeper, he said. P&G has been its own record keeper since the...

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