DFX Intelligence

Allocator Intelligence

The capital-owner graph behind private markets. Who owns the capital, who decides, how much, under what policy, on whose advice, to which managers, and what changed, with a source and a date behind every row. A target is never an actual, a disclosed holding is never an approval, and an estimate says so.

Corporate pension

BD Retirement Plan

Corporate pensionFranklin Lakes, NJ
Assets
$1.6B
Total assets, Sep 30, 2025 reported
Funded
80.4%
Oct 1, 2024
Private markets target
n/a
policy Sep 30, 2025
Commitments
34
2 managers on Schedule C
Plan sponsor: Becton Dickinson and Company
Allocation policy
Form 5500, as of Sep 30, 2025
Actual allocation lines without a target (as filed)
  • Non-interest-bearing cash 1.8%
  • Corporate debt instruments (other) 9.4%
  • U.S. Government securities 10.9%
  • Other investments 0.1%
  • Partnership/joint venture interests 3.7%
  • 103-12 investment entities 1.0%
  • Common/collective trusts 60.2%
  • Pooled separate accounts 4.3%
  • Common stock 1.4%
Consultants and advisers
3 firms
People
No investment staff or executives have been read for this allocator yet.
Manager roster
10 managers on the commitment tape
From the plan’s own commitment disclosures
From Schedule C (investment management, code 28)
Commitments
34 rows, 0 dated closings
Disclosed holdings (from the plan’s performance or holdings report, as of the report date)
DateFundManagerBucketAmountVintageStatusSource
as of Sep 30, 2025GS Ct Inter Duration Credit Fundcollective trustGoldman Sachs Trust CompanyPrivate credit$146M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2025Robeco Global Emerging Mkt Equitycollective trustBoston Partners Trust CompanyPublic equity$36.2M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2025Pinebridge Citcollective trustPinebridge Collective Investment TrustPooled vehicles$59.2M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2025Voya Private Credit Trust Fundcollective trustVoya Investment Trust Co.Private credit$30.6M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2025Privest Accountseparate accountPrudential Insurance Company of AmePooled vehicles$67.6M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2025Axiom Investors Collective Investmecollective trustSEI Trust CompanyPooled vehicles$24.3M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2025Tactical Exposure Fund Instcollective trustGoldman Sachs Trust CompanyHedge / diversifiers$30.9M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2025Hedge Fund Opportunities Inst Ltdcollective trustGoldman Sachs Trust Company, N.AHedge / diversifiers$24.5M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2025Tactical Trading Managers (mf) Ltd103 12 ieGoldman Sachs Trust Company, N.AHedge / diversifiers$15.5M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2025DWS Gbl Infra Fd 277 Gicit acollective trustDWS Trust CompanyInfrastructure$22.4M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2025State Street Msci Eafe Index Non-Lecollective trustState Street - Russell 2000Pooled vehicles$122M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2025Russell 1000 Index Nl Fundcollective trustState Street Global Advisors TrustPooled vehicles$290M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2025Wtc-Ctf Emerging Local Debtcollective trustWellington Em Local Debt FundPrivate credit$43.6M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2025Wtc-Cif II Opp Emerging Mrk Dt S1 Pcollective trustWellington FdPooled vehicles$10.8M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2025NT Collective Short Term Investmentcollective trustNorthern Trust Collective Eafe IndeCash$106M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2024State Street Msci Eafe Index Non-Lecollective trustState Street - Russell 2000Pooled vehicles$177M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2024Russell 1000 Index Nl Fundcollective trustState Street Global Advisors TrustPooled vehicles$254M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2024Wtc-Ctf Emerging Local Debtcollective trustWellington Em Local Debt FundPrivate credit$21.1M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2024Wtc-Cif II Opp Emerging Mrk Dt S1 Pcollective trustWellington FdPooled vehicles$24.6M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2024NT Collective Short Term Investmentcollective trustNorthern Trust Collective Eafe IndeCash$145M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2024GS Ct Inter Duration Credit Fundcollective trustGoldman Sachs Trust CompanyPrivate credit$247M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2024Robeco Global Emerging Mkt Equitycollective trustBoston Partners Trust CompanyPublic equity$36.0M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2024Pinebridge Citcollective trustPinebridge Collective Investment TrustPooled vehicles$49.1M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2024Emerging Markets Equity Trustcollective trustT. Rowe Price Trust CompanyPublic equity$34.6M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2023State Street Msci Eafe Index Non-Lecollective trustState Street - Russell 2000Pooled vehicles$142M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2023Russell 1000 Index Nl Fundcollective trustState Street Global Advisors TrustPooled vehicles$207M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2023Wtc-Ctf Emerging Local Debtcollective trustWellington Em Local Debt FundPrivate credit$10.7M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2023Wtc-Cif II Opportunistic Emdcollective trustWellington FdHedge / diversifiers$16.0M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2023NT Collective Short Term Investmentcollective trustNorthern Trust Collective Eafe IndeCash$120M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2023GS Collective Trust Int Duration Crcollective trustGoldman Sachs Trust CompanyPooled vehicles$220M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2023Robeco Global Emerging Mkt Equitycollective trustBoston Partners Trust CompanyPublic equity$33.3M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2023Pinebridge Citcollective trustPinebridge Collective Investment TrustPooled vehicles$40.2M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2023Emerging Markets Equity Trustcollective trustT. Rowe Price Trust CompanyPublic equity$25.9M heldDisclosed holdingaskebsa.dol.gov
as of Sep 30, 2023TCW Multiple Investment Trustcollective trustSEI Trust CompanyPooled vehicles$7.9M heldDisclosed holdingaskebsa.dol.gov
Size and funding
33 readings
Total assets
$1.6B Sep 30, 2025 reported Form 5500
$1.7B (2024-09) · $1.5B (2023-09)
Plan assets
$1.7B Oct 1, 2024 reported Form 5500
$1.5B (2023-10) · $1.5B (2022-10)
Net assets
$1.6B Sep 30, 2025 reported Form 5500
$1.7B (2024-09) · $1.5B (2023-09)
Funded ratio
80.4% Oct 1, 2024 reported Form 5500
80.5% (2023-10) · 80.5% (2022-10)
Funding target
$1.8B Oct 1, 2024 reported Form 5500
$1.8B (2023-10) · $1.8B (2022-10)
Discount rate
5.34% Oct 1, 2024 reported Form 5500
5.24% (2023-10) · 5.41% (2022-10)
Participants
23,384 Oct 1, 2024 reported Form 5500
24,610 (2023-10) · 25,768 (2022-10)
Contributions
$0 Sep 30, 2025 reported Form 5500
$0 (2024-09) · $150M (2023-09)
Benefits paid
$170M Sep 30, 2025 reported Form 5500
$164M (2024-09) · $198M (2023-09)
Net investment income
$-109M Sep 30, 2025 reported Form 5500
$152M (2024-09) · $-7.8M (2023-09)
Investment management fees
$2.3M Sep 30, 2025 reported Form 5500
$2.3M (2024-09) · $3.5M (2023-09)
Form 5500 filings
3 plan years
Plan yearParticipantsAssets (SB market)Funding targetFTAPTotal assets (H)Partnerships / JVMaster trustReal estate
2024 to Sep 30, 202523,384$1.7B$1.8B80.4%$1.6B$58.0Mn/an/a
2023 to Sep 30, 202424,610$1.5B$1.8B80.5%$1.7B$23.0Mn/an/a
2022 to Sep 30, 202325,768$1.5B$1.8B80.5%$1.5B$19.3Mn/an/a
Service providers and investment entities as filed (Schedule C and D, latest year first)
  • Goldman Sachs Asset Management codes 28 51 56 68 $2.7M PY2024
  • Northern Trust Company codes 19 21 28 33 50 51 52 62 71 $819,739 PY2024
  • Wellington Trust Company codes 28 51 $82,131 PY2024
  • Alight Solutions LLC codes 28 51 68 $68,413 PY2024
  • Prudential Insurance Co. codes 28 51 $54,982 PY2024
  • Holland & Knight LLP codes 29 50 $54,536 PY2024
  • State Street Research & Management codes 28 51 $50,187 PY2024
  • Rreef Midamerica LLC codes 28 51 $38,783 PY2024
  • Miller Zinn codes 36 49 $15,383 PY2024
  • Kpmg codes 49 50 $5,805 PY2024
  • Hedge Fund Opportunities Inst Ltd Sched. D C $24.5M PY2024
  • DWS Rreef Global Infrastructure Cit Sched. D C $22.4M PY2024
  • Ssga Msci Eafe Idx Nl Fund Sched. D C $122M PY2024
  • Ssga Russell 1000 Idx Nl Fund Sched. D C $290M PY2024
  • Wtc-Ctf Emerging Local Debt Sched. D C $43.6M PY2024
  • Wtc-Cif II Opportunistic Emd Sched. D C $10.8M PY2024
  • NT Collective Short Term Investment Sched. D C $106M PY2024
  • Tactical Trading Managers (mf) Ltd Sched. D E $15.5M PY2024
  • GS Collective Trust Int Duration Cr Sched. D C $146M PY2024
  • Robeco Global Emerging Mkt Equity Sched. D C $36.2M PY2024
  • Pinebridge High Yield Cit II Sched. D C $59.2M PY2024
  • Emerging Markets Equity Trust Sched. D C PY2024
  • TCW Multiple Investment Trust Sched. D C PY2024
  • Voya Private Credit Trust Fund Gs Sched. D C $30.6M PY2024
  • Privest Sched. D P $67.6M PY2024
  • Axiom Investors Cit Sched. D C $24.3M PY2024
  • Goldman Sachs Tactical Exposure Fun Sched. D C $30.9M PY2024
  • Willis Towers Watson US LLC codes 11 PY2024
  • Goldman Sachs Asset Management codes 28 51 56 68 $2.3M PY2023
  • Northern Trust Company codes 19 21 28 33 50 51 52 62 71 $824,215 PY2023
  • Holland & Knight LLP codes 29 50 $253,277 PY2023
  • Alight Solutions LLC codes 15 50 $66,439 PY2023
  • Rreef Midamerica LLC codes 28 51 $61,473 PY2023
  • Wellington Trust Company codes 28 51 $54,634 PY2023
  • Willis Towers Watson codes 11 50 $43,139 PY2023
  • Principal Global Investors codes 28 51 $37,974 PY2023
  • State Street Research & Management codes 28 51 $33,509 PY2023
  • Wtc-Cif II Opportunistic Emd Sched. D C $24.6M PY2023
  • NT Collective Short Term Investment Sched. D C $145M PY2023
  • GS Collective Trust Int Duration Cr Sched. D C $247M PY2023
  • Robeco Global Emerging Mkt Equity Sched. D C $36.0M PY2023
  • Ssga Msci Eafe Idx Nl Fund Sched. D C $177M PY2023
  • Emerging Markets Equity Trust Sched. D C $34.6M PY2023
  • TCW Multiple Investment Trust Sched. D C PY2023
  • Pinebridge High Yield Cit II Sched. D C $49.1M PY2023
  • Ssga Russell 1000 Idx Nl Fund Sched. D C $254M PY2023
  • Wtc-Ctf Emerging Local Debt Sched. D C $21.1M PY2023
  • Willis Towers Watson US LLC codes 11 PY2023
  • Goldman Sachs Asset Management codes 28 51 56 68 $2.9M PY2022
  • Northern Trust Company codes 19 21 28 33 50 51 52 62 71 $844,721 PY2022
  • Wellington Trust Company codes 28 51 $736,457 PY2022
  • Holland & Knight LLP codes 29 50 $239,898 PY2022
  • Rreef Midamerica LLC codes 28 51 $179,794 PY2022
  • Pgim, Inc codes 28 51 $139,943 PY2022
  • Pinebridge Investments codes 28 51 $91,516 PY2022
  • State Street Research & Management codes 28 51 $82,806 PY2022
  • Principal Global Investors codes 28 51 $40,233 PY2022
  • Kpmg codes 40 49 $6,195 PY2022
  • NT Collective Short Term Investment Sched. D C $120M PY2022
  • GS Collective Trust Int Duration Cr Sched. D C $220M PY2022
  • Robeco Global Emerging Mkt Equity Sched. D C $33.3M PY2022
  • Pinebridge High Yield Cit II Sched. D C $40.2M PY2022
  • Wtc-Ctf Emerging Local Debt Sched. D C $10.7M PY2022
  • TCW Multiple Investment Trust Sched. D C $7.9M PY2022
  • Ssga Russell 1000 Idx Nl Fund Sched. D C $207M PY2022
  • Ssga Msci Eafe Idx Nl Fund Sched. D C $142M PY2022
  • Emerging Markets Equity Trust Sched. D C $25.9M PY2022
  • Wtc-Cif II Opportunistic Emd Sched. D C $16.0M PY2022
  • Willis Towers Watson US LLC codes 11 PY2022
What changed
19 events
  • Sep 30, 2025Holding started
    BD Retirement Plan first reports an interest in Tactical Trading Managers (mf) Ltd: $16M at 2025-09-30
    with Tactical Trading Managers (mf) Ltdaskebsa.dol.gov
  • Sep 30, 2025Holding started
    BD Retirement Plan first reports an interest in Privest Account (Prudential Insurance Company of Ame): $68M at 2025-09-30
    with Prudential Insurance Company of Ameaskebsa.dol.gov
  • Sep 30, 2025Holding started
    BD Retirement Plan first reports an interest in DWS Gbl Infra Fd 277 Gicit a: $22M at 2025-09-30
    with DWS Rreef Global Infrastructure Citaskebsa.dol.gov
  • Sep 30, 2025Holding endedinference
    BD Retirement Plan no longer reports Emerging Markets Equity Trust (T. Rowe Price Trust Company) (last held $35M at 2024-09-30; absent from the 2025-09-30 filing)
    with T. Rowe Price Trust Companyaskebsa.dol.gov
  • Sep 30, 2025Holding started
    BD Retirement Plan first reports an interest in Hedge Fund Opportunities Inst Ltd: $24M at 2025-09-30
    with Hedge Fund Opportunities Inst Ltdaskebsa.dol.gov
  • Sep 30, 2025Holding started
    BD Retirement Plan first reports an interest in Axiom Investors Collective Investme: $24M at 2025-09-30
    with Axiom Investors Collective Investmeaskebsa.dol.gov
  • Sep 30, 2025Holding started
    BD Retirement Plan first reports an interest in Voya Private Credit Trust Fund (Voya Investment Trust Co.): $31M at 2025-09-30
    with Voya Investment Trust Co.askebsa.dol.gov
  • Sep 30, 2025Holding started
    BD Retirement Plan first reports an interest in Tactical Exposure Fund Inst (Goldman Sachs Trust Company): $31M at 2025-09-30
    with Goldman Sachs Trust Companyaskebsa.dol.gov
  • Dec 31, 2024Manager relationship endedinference
    Principal Global Investors no longer appears on BD Retirement Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Principal Global Investors LLCaskebsa.dol.gov
  • Dec 31, 2024Manager relationship started
    Alight Solutions LLC appears on BD Retirement Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Pgim Incaskebsa.dol.gov
  • Dec 31, 2024Manager relationship started
    Prudential Insurance Co. appears on BD Retirement Plan's Schedule C as investment manager (plan year 2024 vs 2023)
    with Prudential Insurance Company of Ameaskebsa.dol.gov
  • Oct 1, 2024Assets changed
    BD Retirement Plan plan assets $1.5B -> $1.7B (+10.0%, 2023-10-01 to 2024-10-01)
    askebsa.dol.gov
  • Sep 30, 2024Holding started
    BD Retirement Plan first reports an interest in Wtc-Cif II Opp Emerging Mrk Dt S1 P (Wellington Fd): $25M at 2024-09-30
    with Wellington Fdaskebsa.dol.gov
  • Sep 30, 2024Holding endedinference
    BD Retirement Plan no longer reports TCW Multiple Investment Trust (last held $8M at 2023-09-30; absent from the 2024-09-30 filing)
    with TCW Multiple Investment Trustaskebsa.dol.gov
  • Sep 30, 2024Holding started
    BD Retirement Plan first reports an interest in GS Ct Inter Duration Credit Fund (Goldman Sachs Trust Company): $247M at 2024-09-30
    with Goldman Sachs Trust Companyaskebsa.dol.gov
  • Sep 30, 2024Holding endedinference
    BD Retirement Plan no longer reports Wtc-Cif II Opportunistic Emd (Wellington Fd) (last held $16M at 2023-09-30; absent from the 2024-09-30 filing)
    with Wellington Fdaskebsa.dol.gov
  • Sep 30, 2024Holding endedinference
    BD Retirement Plan no longer reports GS Collective Trust Int Duration Cr (Goldman Sachs Trust Company) (last held $220M at 2023-09-30; absent from the 2024-09-30 filing)
    with Goldman Sachs Trust Companyaskebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    Pinebridge Investments no longer appears on BD Retirement Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Pinebridge Investments LLCaskebsa.dol.gov
  • Dec 31, 2023Manager relationship endedinference
    Pgim, Inc no longer appears on BD Retirement Plan's Schedule C as investment manager (plan year 2023 vs 2022)
    with Pgim Incaskebsa.dol.gov
Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
Provenance
Identifiers: EIN-PN 220760120-004
Cross-graph: no entry on another DFX graph
First observed Sep 15, 2026, last observed Sep 15, 2026. Classification confirmed. Every row above carries its source; a reported figure is the subject’s own, a derived one is arithmetic on reported figures, an estimated one is a model or a survey imputation and is never summed into a headline.