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Kodak’s Successful Pension Program Showcased in New RIT Publication
United Airlines’ plan to terminate employee pensions is sending shockwaves throughout America. With the fate of other corporate pension programs increasingly in doubt, how has Eastman Kodak Co. managed to keep its fund viable?
The School of Hard Knocks: The Evolution of Pension Investing at Eastman Kodak is the latest release from Rochester Institute of Technology’s Cary Graphic Arts Press. The book lays out strategies that have propelled the company’s pension plan, which dates back to 1928.
The author, Russell L. Olson, a consultant on institutional investing, retired as Kodak’s director of pension investments in 2000. On his watch, Kodak’s fund remained among the best performing programs of its kind in the United States.
For more than 30 years, Olson also worked with a range of endowment funds. He was named one of America’s nine best pension officers by Institutional Investor magazine in 1987 and was Investment Management Institute’s first “Plan Sponsor of the Year” in 1993.
In the book’s forward, Thomas Hopkins, dean of RIT’s College of Business, describes Olson’s reflections as a “remarkable odyssey” that highlights the company’s pension initiatives. “What unfolds is an intriguing record of applied learning that lies behind a most impressive long-term financial performance,” writes Hopkins. "The author played a central role in forging this record, which time and again involved applications for which no precedent existed."
The School of Hard Knocks: The Evolution of Pension Investing at Eastman Kodak is the first business-related publication from the Cary Graphic Arts Press. It’s available for purchase online at http://www.lulu.com.
NOTE: The Cary Graphic Arts Press is the publication arm of the Melbert B. Cary Jr. Graphic Arts Collection at RIT. The collection is a renowned resource for the study of printing history, bookbinding, typography, papermaking, calligraphy and book illustration processes.