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Ashland Pension Plan
Ashland Pension Plan is a private sector pension fund based in Lexington, US. It manages $1.4 billion in assets across one fund. Its focus is on North America.
Overview
Ashland Pension Plan is a private sector pension fund based in Lexington, US. It manages $1.4 billion in assets across one fund. Its focus is on North America.
General information
Firm type
Pension Fund
Location
Region
North America
Country
United States
City
Wilmington
Corporate office
Wilmington, DE, United States
Principals
Guillermo Novo
Chair and CEO, Ashland Inc. (Sponsoring Employer)
Frequently asked questions
How is Ashland Inc. Pension Plan linked to Valvoline and Hercules?
Ashland Inc. spun off Valvoline as an independent public company in 2016, but the Ashland Pension Plan retained responsibility for legacy Valvoline employee pension benefits accrued before the separation. In 2009, the plan had already absorbed the Hercules Inc. pension fund when Ashland acquired that chemical company. This means the single Ashland plan today covers retirees from three distinct corporate lineages.
Who oversees governance of the Ashland Pension Plan?
The plan is a corporate defined benefit plan administered by Ashland Inc., a publicly traded specialty chemicals manufacturer. Chair and CEO Guillermo Novo has overarching corporate governance responsibility. The specific composition of the plan's investment committee or whether it engages a dedicated CIO is not publicly disclosed.
Is the Ashland Inc. Foundation connected to the pension plan?
No. The Ashland Inc. Foundation is a separate philanthropic vehicle. Corporate pension plans must maintain strict separation from corporate operating assets and charitable foundations under ERISA. The foundation does not fund pension obligations, and pension assets are not available for philanthropic grants.
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