Luxottica Group Pension Plan

Luxottica Group Pension Plan

The Luxottica Group Pension Plan is a non-contributory defined benefit plan adopted by various Luxottica North America subsidiaries and sponsored by Luxottica U.S. Holdings Corp. The plan was frozen to new associates and rehires effective December 31, 2013, ceasing all future benefit accruals while remaining responsible for vested obligations to legacy participants. As a frozen corporate pension, the plan's investment strategy centers on liability-driven investing to match existing benefit obligations rather than pursuing growth for active participants. The asset allocation likely emphasizes fixed income, long-duration bonds, and liability-hedging instruments typical of mature frozen plans, with limited exposure to equities and alternatives compared to open plans still accruing benefits. Detailed portfolio holdings and specific asset-class allocations are not publicly disclosed. Team size, current funded status, and the identities of trustees or investment committee members are not publicly available. The plan operates under French regulatory oversight through Luxottica's parent entity EssilorLuxottica, though benefit administration is tied to North American operations. The plan does not file separate public financial disclosures beyond what may be included in consolidated corporate filings. Structurally, the plan differs from an active pension fund because its sole mandate is runoff management — no new participants, no new accruals, and no contribution growth from active workforce payroll. This creates a narrow, defensive investment posture focused entirely on meeting scheduled benefit payments over the plan's remaining life, without the growth-oriented allocation debates that characterize open corporate pensions.