SAVINGS
AND PROFIT SHARING PLAN FOR
SALARIED EMPLOYEES
STATEMENTS
OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER
31, 2007 AND 2006
ASSETS
|
|
2007
|
|
|
2006
|
|
Investments,
at fair value:
|
|
|
|
|
|
|
Church
& Dwight Co., Inc. common stock
|
|
$ |
68,952,511 |
|
|
$ |
57,773,796 |
|
Mutual
funds
|
|
|
111,413,792 |
|
|
|
98,353,893 |
|
Collective
trusts
|
|
|
23,061,498 |
|
|
|
21,196,888 |
|
Totals
|
|
|
203,427,801 |
|
|
|
177,324,577 |
|
Participant
loans
|
|
|
987,994 |
|
|
|
1,055,666 |
|
Totals
|
|
|
204,415,795 |
|
|
|
178,380,243 |
|
Receivables
– Employer contributions
|
|
|
7,429,627 |
|
|
|
6,612,503 |
|
Cash
|
|
|
126 |
|
|
|
210 |
|
Net
assets available for benefits, at fair value
|
|
|
211,845,548 |
|
|
|
184,992,956 |
|
Adjustment
from fair value to contract value for interest in collective trusts
relating to fully benefit-responsive investment contracts |
|
|
(468,134 |
) |
|
|
- |
|
Net
assets available for benefits
|
|
$ |
211,377,414 |
|
|
$ |
184,992,956 |
|
See Notes
to Financial Statements.
CHURCH
& DWIGHT CO., INC.
SAVINGS
AND PROFIT SHARING PLAN FOR
SALARIED
EMPLOYEES
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR
BENEFITS
YEARS
ENDED DECEMBER 31, 2007 AND 2006
|
|
2007
|
|
|
2006
|
|
Additions
to net assets attributable to:
|
|
|
|
|
|
|
Investment
income:
|
|
|
|
|
|
|
Net
appreciation in fair value of investments
|
|
$ |
10,853,283 |
|
|
$ |
17,777,995 |
|
Dividend
and interest income
|
|
|
13,088,678 |
|
|
|
7,063,796 |
|
Totals
|
|
|
23,941,961 |
|
|
|
24,841,791 |
|
Contributions:
|
|
|
|
|
|
|
|
|
Participant
|
|
|
7,600,968 |
|
|
|
8,255,769 |
|
Employer
|
|
|
8,914,857 |
|
|
|
8,564,923 |
|
Totals
|
|
|
16,515,825 |
|
|
|
16,820,692 |
|
Totals
|
|
|
40,457,786 |
|
|
|
41,662,483 |
|
Deductions
from net assets attributable to:
|
|
|
|
|
|
|
|
|
Distributions
to participants
|
|
|
14,345,622 |
|
|
|
18,071,416 |
|
Other
charges
|
|
|
2,663 |
|
|
|
4,709 |
|
Totals
|
|
|
14,348,285 |
|
|
|
18,076,125 |
|
Net
increase in plan assets before transfers
|
|
|
26,109,501 |
|
|
|
23,586,358 |
|
Transfers
in from other plans
|
|
|
274,957 |
|
|
|
161,406,598 |
|
Net
increase in plan assets after transfers
|
|
|
26,384,458 |
|
|
|
184,992,956 |
|
Net
assets available for benefits:
|
|
|
|
|
|
|
|
|
Beginning
of year
|
|
|
184,992,956 |
|
|
|
- |
|
End
of year
|
|
$ |
211,377,414 |
|
|
$ |
184,992,956 |
|
See Notes
to Financial Statements.
CHURCH
& DWIGHT CO., INC.
SAVINGS
AND PROFIT SHARING PLAN FOR
SALARIED
EMPLOYEES
NOTES TO FINANCIAL STATEMENTS
Note
1 - Description of Plan:
The
following description of Church & Dwight Co., Inc. (the "Company") Savings
and Profit Sharing Plan for Salaried Employees (the "Plan") provides only
general information. Participants should refer to the Plan document for a more
complete description of the Plan's provisions.
General:
Effective
July 1, 1984, the Church & Dwight Co., Inc. Investment Savings Plan was
amended and restated to provide a cash or deferred arrangement (Internal Revenue
Code Section 401(k)), for after-tax employee contributions and employer matching
contributions. The Plan is subject to the provisions of the Employee Retirement
Income Security Act ("ERISA"). In 1994 the Investment Savings Plan
was merged with the Profit Sharing Plan with the Profit Sharing Plan being the
survivor of the merger.
Establishment of New
Plan
Effective
January 1, 2006, Church & Dwight Co., Inc. Profit Sharing Plan was renamed
Church & Dwight Co., Inc. Savings and Profit Sharing Plan for Hourly
Employees and amended to exclude salaried employees. Coincident with such
changes, the Company established Church & Dwight Co., Inc. Savings and
Profit Sharing Plan for Salaried Employees (collectively, the “New Plans”) to
which the account balances of salaried employees under the Plan were
transferred.
All
salaried employees of the Company are eligible for participation in the Plan
except for the following:
A
Participant who is a former Orange Glo International, Inc. (“OGI”) employee
shall not be eligible for allocations of Profit Sharing contributions for
2006.
A
Participant who is employed at the Company’s Greenwood Village, Colorado
location will not be an eligible participant in the Plan.
Effective
January 1, 2006 Church & Dwight Virginia Co., Inc. was added to the Plan as
a participating employer.
Effective
January 1, 2006, the Plan was amended to bring it into compliance with the
Pension Protection Act of 2006.
That
portion of the Plan derived from account balances invested in Company stock and
all contributions (including pre-tax, post-tax, Company match and profit
sharing) made after April 30, 2003 are considered and designated as
an
CHURCH
& DWIGHT CO., INC.
SAVINGS
AND PROFIT SHARING PLAN FOR
SALARIED
EMPLOYEES
NOTES
TO FINANCIAL STATEMENTS
Note
1 - Description of Plan (continued):
Employee
Stock Ownership Plan (“ESOP”) component. The principal purpose of the ESOP is to
provide participants and beneficiaries an ownership interest in the
Company.
Administrative
expenses:
Certain
administrative costs are paid by the Company.
Contributions:
Participants
may elect to make pre- or post-tax contributions of 1% to 6% of compensation,
provided, however, that all contributions must be fixed in multiples of 1%.
Participants may also elect to make pre- and post-tax in excess of 6% of
compensation that are not matched. Effective July 1, 2003, the Plan maximum was
changed so that total participant contributions cannot exceed 70% of
compensation. Participants who have attained age 50 before the end of the Plan
year are eligible to make catch-up contributions but there is no Company match
on catch-up contributions. The Company matches an amount equal to 50% of each
participant's pre- or post-tax contribution up to a maximum of 6%.
Company
matching contributions are invested in the Company Stock Fund. Participants
specify which investment funds, in increments of 5% that their contributions are
invested in, provided that not more than 50% of such contributions are
contributed to the Company Stock Fund. Effective January 1, 2007, the Plan was
amended to permit Company match contributions that were previously restricted to
investment in the Church & Dwight Co., Inc. Stock Fund for five years to be
unrestricted following 3 years of service. Future Company match contributions
are directed to the fund allocation selected by the participant.
As of
each December 31, the Company shall make a profit sharing contribution to the
fund in such amount, if any, as the Board in its discretion deems appropriate;
provided, however, that the minimum contribution shall be 4% for 2003 and beyond
as long as this plan design is in place.
The
participant will specify in which investment fund, in increments of 5%, that the
Company's profit sharing contributions to their account will be
invested.
A
participant may, with the consent of the Plan administrator, make a rollover
contribution to the Plan at any time. Rollover contributions are assets
transferred to the Plan from a qualified savings plan or a conduit individual
retirement account in which employees participated prior to their employment by
the Company.
CHURCH & DWIGHT CO.,
INC.
SAVINGS
AND PROFIT SHARING PLAN FOR
SALARIED
EMPLOYEES
NOTES
TO FINANCIAL STATEMENTS
Note
1 - Description of Plan (continued):
Participant
accounts:
Each
participant’s account is credited with the participant’s contribution and
allocations of (a) the Company’s contributions and (b) Plan earnings, and
charged with an allocation of administrative expenses. Allocations are based on
participant earnings or account balances, as defined. The benefit to which a
participant is entitled is the benefit that can be provided from the
participant’s vested account.
Vesting:
Participants
are fully vested at all times in their pre- or post-tax contributions and
rollover contributions. Effective on August 1, 2007, Company match and profit
sharing contributions for employees hired after that date vest in the same time
frame as shown below:
|
Service
|
|
Vested Percentage
|
|
|
|
Less
than 2 years
|
|
|
0 |
% |
|
|
2
years but less than 3 years
|
|
|
25 |
|
|
|
3
years but less than 4 years
|
|
|
50 |
|
|
|
4
years but less than 5 years
|
|
|
75 |
|
|
|
5
years or more
|
|
|
100 |
|
|
Upon
termination of employment for any reason, other than retirement, death or total
and permanent disability, a participant shall be entitled to a benefit equal to
the vested portion, if any, of the participant's profit sharing account and
Company matching contributions. A participant shall be 100% vested in the
participant's profit sharing account and Company matching contributions upon the
attainment of normal retirement age or death. Employees who are
approved for long term disability are eligible for a continuing profit sharing
contribution provided they do not take a distribution of their profit sharing
account. The continuing profit sharing contribution ends after two years and the
account is paid out based upon the vesting schedule above.
Each
former employee of OGI who became employed by the Company as a salaried regular
employee as a result of and in connection with the Company’s acquisition of
substantially all of the assets of OGI will be taken into account for the
purpose of determining his or her years of service to the same extent that such
service would have been credited for such purpose had it been performed as an
employee of the Company.
Participant
loans:
A
participant may request a loan to be made from the value of the vested portion
of the participant’s account for a minimum of $500 up to a maximum equal to the
lesser of $50,000 or 50% of their account balance.
CHURCH & DWIGHT CO.,
INC.
SAVINGS
AND PROFIT SHARING PLAN FOR
SALARIED
EMPLOYEES
NOTES
TO FINANCIAL STATEMENTS
Note
1 - Description of Plan (concluded):
Participant
loans (continued):
Loans are
secured by an equivalent lien on the participant’s nonforfeitable
interest in the Plan and bear interest at prime plus 1%. Principal and interest
are paid through weekly payroll deductions. Funds in an employee’s profit
sharing account are not available for loans.
Distributions:
Effective
April 1, 2004, all forms of annuity and installment distribution options were
removed from the Plan.
Distributions
may be taken as a lump sum cash payment or as a rollover to a qualified plan or
individual retirement account. In-kind distributions of Company Stock are also
permitted.
Forfeitures:
Forfeitures
of nonvested Company matching and profit-sharing contributions are used to
reduce future Company contributions. Company matching and profit-sharing
contributions were reduced by $210,632 and $482,223, for such forfeitures during
the years ended December 31, 2007 and 2006, respectively. The amount in the
forfeitures account was $346,297 and $626,930 as of December 31, 2007 and 2006,
respectively.
Certain
prior year balances have been reclassified to conform with the current year
presentations.
New
accounting pronouncement:
In
September 2006, the Financial Accounting Standards Board issued SFAS No. 157,
“Fair Value Measurements” (“SFAS 157”). SFAS 157 defines fair value and
establishes a framework for measuring fair value. It also expands the
disclosures about the use of fair value to measure assets and liabilities. SFAS
157 is effective for plan years beginning after November 15, 2007 and interim
periods within those plan years. As of December 31, 2007, management is
evaluating the impact of the adoption of SFAS 157 on the Plan’s financial
statements.
Note
2 - Summary of significant accounting policies:
Basis
of presentation:
The
accompanying financial statements are prepared under the accrual method of
accounting.
As
described in Financial Accounting Standards Board Staff Position, FSP AAG INV-1
and SOP 94-4-1, “Reporting of Fully Benefit-Responsive Investment Contracts Held
by Certain Investment Companies Subject to the AICPA
Investment Company Guide and Defined-Contribution Health
and
CHURCH
& DWIGHT CO., INC.
SAVINGS
AND PROFIT SHARING PLAN FOR
SALARIED
EMPLOYEES
NOTES
TO FINANCIAL STATEMENTS
Note
2 - Summary of significant accounting policies (concluded):
Basis
of presentation (concluded):
Welfare
and Pension Plans” (the “FSP”), investment
contracts held by a defined-contribution plan are required to be reported at
fair value. However, contract value is the relevant measurement attribute for
that portion of the net assets available for benefits of a defined-contribution
plan attributable to fully benefit-responsive investment contracts because
contract value is the amount participants would receive if they were to initiate
permitted transactions under the terms of the plan. The plan invests in
investment contracts through collective trusts. As required by the FSP, the
statement of net assets available for benefits presents the fair value of the
investment in the collective trusts as well as the adjustment of the investment
in the collective trusts from fair value to contract value relating to the
investment contracts. The statement of changes in net assets available for
benefits is prepared on a contract value basis and assumptions.
Use
of estimates:
The
preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires Plan management to
make estimates and assumptions that affect certain reported amounts and
disclosures. Accordingly, actual results could differ from those
estimates.
Investment
valuation and income recognition:
Investments
in mutual funds are carried at market as determined by Mercer Trust Company (the
"Trustee") based upon quoted market prices. The investment in Company common
stock is valued at the closing price as quoted by a national exchange. In
accordance with this policy, the net gain (loss) for each year is reflected in
the statement of changes in net assets available for benefits. Participant loans
are valued at their outstanding balance, which approximates fair value. The
Plan’s interest in the collective trust at year-end is valued based on
information reported by the investment advisor using the audited financial
statements of the collective trust at year-end.
Purchases
and sales of securities are recorded on a trade-date basis. Dividends are
recorded on the ex-dividend date. Interest income is recorded as earned on an
accrual basis.
Payment
of benefits:
Benefits
are recorded when paid.
CHURCH
& DWIGHT CO., INC.
SAVINGS
AND PROFIT SHARING PLAN FOR
SALARIED
EMPLOYEES
NOTES
TO FINANCIAL STATEMENTS
Note
3 - Investments:
The
following table presents investments that represent 5% or more of the Plan’s net
assets at December 31, 2007 and 2006:
|
|
|
2007
|
|
|
2006
|
|
|
|
Church
& Dwight Co., Inc. common stock
|
|
$ |
68,952,511 |
|
|
$ |
57,773,796 |
|
|
|
Putnam
Voyager Fund
|
|
|
- |
|
|
|
12,939,430 |
|
|
|
Putnam
Stable Value Fund
|
|
|
23,061,498 |
|
|
|
21,196,888 |
|
|
|
Putnam
International Equity Fund
|
|
|
15,961,623 |
|
|
|
13,670,788 |
|
|
|
Neuberger
Berman Genesis Fund
|
|
|
12,188,278 |
|
|
|
10,238,427 |
|
|
|
T.
Rowe Price Blue Chip Growth Fund
|
|
|
15,486,276 |
|
|
|
- |
|
|
The
Plan’s investment assets appreciated (depreciated) in fair value as
determined by quoted market prices as follows:
|
|
|
2007
|
|
|
2006
|
|
|
|
Company
Stock
|
|
$ |
15,099,727 |
|
|
$ |
13,720,757 |
|
|
|
PIMCO
Total Return Fund
|
|
|
265,842 |
|
|
|
(92,444 |
) |
|
|
George
Putnam Fund of Boston
|
|
|
(701,948 |
) |
|
|
40,257 |
|
|
|
Putnam
Growth and Income Fund
|
|
|
112,396 |
|
|
|
58,146 |
|
|
|
Putnam
Vista Fund
|
|
|
334,724 |
|
|
|
439,423 |
|
|
|
Putnam
Voyager Fund
|
|
|
333,372 |
|
|
|
674,660 |
|
|
|
Putnam
International Equity Fund
|
|
|
(1,759,000 |
) |
|
|
1,836,930 |
|
|
|
Neuberger
Berman Genesis Fund
|
|
|
333,868 |
|
|
|
(164,093 |
) |
|
|
Vanguard
S&P 500 Index Fund
|
|
|
272,761 |
|
|
|
758,763 |
|
|
|
Lord
Abbett Mid Cap Value Fund
|
|
|
(1,039,521 |
) |
|
|
(21,521 |
) |
|
|
ING
Index Plus Small Cap Fund
|
|
|
(275,476 |
) |
|
|
(55,701 |
) |
|
|
Putnam
Retirementready Maturity Fund
|
|
|
(22,772 |
) |
|
|
3,527 |
|
|
|
T.
Rowe Price Blue Chip Growth Fund
|
|
|
1,430,292 |
|
|
|
- |
|
|
|
Van
Kampen Growth & Income Fund
|
|
|
(269,693 |
) |
|
|
- |
|
|
|
Putnam
Retirementready 2010 Fund
|
|
|
(106,854 |
) |
|
|
4,809 |
|
|
|
Putnam
Retirementready 2015 Fund
|
|
|
(619,660 |
) |
|
|
70,291 |
|
|
|
Putnam
Retirementready 2020 Fund
|
|
|
(823,976 |
) |
|
|
156,825 |
|
|
|
Putnam
Retirementready 2025 Fund
|
|
|
(607,519 |
) |
|
|
87,226 |
|
|
|
Putnam
Retirementready 2030 Fund
|
|
|
(453,843 |
) |
|
|
95,981 |
|
|
|
Putnam
Retirementready 2035 Fund
|
|
|
(350,114 |
) |
|
|
57,804 |
|
|
|
Putnam
Retirementready 2040 Fund
|
|
|
(138,353 |
) |
|
|
67,856 |
|
|
|
Putnam
Retirementready 2045 Fund
|
|
|
(161,771 |
) |
|
|
31,237 |
|
|
|
Putnam
Retirementready 2050 Fund
|
|
|
801 |
|
|
|
7,262 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Totals
|
|
$ |
10,853,283 |
|
|
$ |
17,777,995 |
|
|
CHURCH
& DWIGHT CO., INC.
SAVINGS
AND PROFIT SHARING PLAN FOR
SALARIED
EMPLOYEES
NOTES
TO FINANCIAL STATEMENTS
Note
4 - Nonparticipant-directed investments:
Information
about the net assets and the significant components of the changes in net assets
relating to the nonparticipant-directed investments is as follows as of December
31, 2007 and 2006 and for the years then ended:
|
|
|
2007
|
|
|
2006
|
|
|
|
Net
assets:
|
|
|
|
|
|
|
|
|
Company
Stock
|
|
$ |
640,547 |
|
|
$ |
494,237 |
|
|
|
Changes
in net assets:
|
|
|
|
|
|
|
|
|
|
|
Net
appreciation
|
|
$ |
144,792 |
|
|
$ |
556,203 |
|
|
|
Dividends/interest
|
|
|
63 |
|
|
|
2,960 |
|
|
|
Employer
contributions
|
|
|
387,694 |
|
|
|
676,216 |
|
|
|
Transfer
from other plan
|
|
|
- |
|
|
|
1,928,935 |
|
|
|
Terminations
and withdrawals
|
|
|
(14,888 |
) |
|
|
(92,627 |
) |
|
|
Forfeitures
|
|
|
(38,650 |
) |
|
|
(95,571 |
) |
|
|
Transfers
to participant – directed investments
|
|
|
(371,155 |
) |
|
|
(2,561,913 |
) |
|
|
Loans
|
|
|
(146 |
) |
|
|
(15,337 |
) |
|
|
Fees
and miscellaneous
|
|
|
38,600 |
|
|
|
95,371 |
|
|
|
Net
increase
|
|
|
146,310 |
|
|
|
494,237 |
|
|
|
Balance,
beginning of year
|
|
|
494,237 |
|
|
|
- |
|
|
|
Balance,
end of year
|
|
$ |
640,547 |
|
|
$ |
494,237 |
|
|
Only the
Company matching contributions for those participants with less than three years
of service, made to the Company Stock Fund are nonparticipant-directed
investments.
Note
5 - Related party transactions:
The
Trustee is provided with the authority to invest, sell, dispose of or otherwise
deal with such assets held in trust based on the most recent agreement dated
July 1, 1996 with the Company. Certain Plan investments are in shares of mutual
funds managed by the Trustee and, therefore, these transactions qualify as
party-in-interest transactions.
The
Company is also a party-in-interest to the Plan under the definition provided in
Section 3 (14) of ERISA. Therefore, the Company's common stock transactions
qualify as party-in-interest transactions.
CHURCH
& DWIGHT CO., INC.
SAVINGS
AND PROFIT SHARING PLAN FOR
SALARIED
EMPLOYEES
NOTES
TO FINANCIAL STATEMENTS
Note
6 - Plan termination:
The
Company intends to continue the Plan indefinitely, but reserves the right to
terminate it at any time, subject to the provisions of ERISA. Upon termination
of the Plan or upon complete discontinuance of contributions, all participants
will become fully vested in their account balances under the Plan.
Note
7 - Tax status:
The
Internal Revenue Service has determined and informed the Company by letter dated
August 20, 2003, that the Plan is qualified and the trust established under the
Plan is tax-exempt, under the appropriate sections of the Internal Revenue Code
(the “Code”). The Plan has been amended since receiving the determination
letter. However, the Plan administrator and the Plan's tax counsel believe that
the Plan is currently designed and being operated in compliance with the
applicable requirements of the Code. Therefore, they believe that the Plan was
qualified and the related trust was tax-exempt as of the financial statement
date.
Note
8 - Risks and uncertainties:
The Plan
invests in various investment securities. Investment securities are exposed to
various risks such as interest rate, market and credit risks. Due to the level
of risk associated with certain investment securities, it is at least reasonably
possible that changes in the values of investment securities will occur in the
near term and that such changes could materially affect participants' account
balances and the amounts reported in the statements of net assets available for
benefits.
Note
9 – Reconciliation of Financial Statements to Form 5500:
The
following is a reconciliation of amounts reported in the 2007 financial
statements to amounts reported in the 2007 Form 5500:
|
Net
Assets Available for Plan Benefits, per the financial
Statements
|
|
$ |
211,377,414 |
|
|
|
Adjustment
from contract value to fair value for fully benefit-responsive
investment contracts
|
|
|
468,134 |
|
|
|
Net
Assets Available for Plan Benefits, per the Form 5500
|
|
$ |
211,845,548 |
|
|
|
Net
appreciation in fair value of investments, per the financial statements
|
|
$ |
10,853,283 |
|
|
|
Adjustment
from contract value to fair value for full benefit-responsive
investment contracts
|
|
|
468,134 |
|
|
|
Net
appreciation in fair value of investments, per the Form 5500
|
|
$ |
11,321,417 |
|
|
CHURCH
& DWIGHT CO., INC.
SAVINGS
AND PROFIT SHARING PLAN FOR
SALARIED
EMPLOYEES
EIN
#13-4996950
Plan
#008
SCHEDULE OF ASSETS (HELD AT END OF YEAR)
(Schedule
H, Line 4i)
DECEMBER
31, 2007
Identity of Issuer, Borrower, Lessor or Similar
Party
|
|
Investment Description
|
|
Cost
|
|
|
Current Value
|
|
*Church
& Dwight Co., Inc.
|
|
Common
Stock
|
|
$ |
25,010,089 |
|
|
$ |
68,952,511 |
|
PIMCO
Total Return Fund
|
|
Mutual
Fund
|
|
|
9,348,674 |
|
|
|
9,547,897 |
|
*George
Putnam Fund of Boston
|
|
Mutual
Fund
|
|
|
7,151,757 |
|
|
|
6,473,638 |
|
*Putnam
Vista Fund
|
|
Mutual
Fund
|
|
|
7,520,532 |
|
|
|
8,133,251 |
|
*Putnam
Retirementready Maturity
|
|
Mutual
Fund
|
|
|
405,551 |
|
|
|
385,779 |
|
*Putnam
Retirementready 2010 Fund
|
|
Mutual
Fund
|
|
|
1,541,499 |
|
|
|
1,425,054 |
|
*Putnam
Retirementready 2015 Fund
|
|
Mutual
Fund
|
|
|
5,901,824 |
|
|
|
5,336,372 |
|
*Putnam
Retirementready 2020 Fund
|
|
Mutual
Fund
|
|
|
6,114,723 |
|
|
|
5,400,003 |
|
*Putnam
Retirementready 2025 Fund
|
|
Mutual
Fund
|
|
|
3,759,160 |
|
|
|
3,176,262 |
|
*Putnam
Retirementready 2030 Fund
|
|
Mutual
Fund
|
|
|
2,756,096 |
|
|
|
2,367,302 |
|
*Putnam
Retirementready 2035 Fund
|
|
Mutual
Fund
|
|
|
2,103,089 |
|
|
|
1,793,465 |
|
*Putnam
Retirementready 2040 Fund
|
|
Mutual
Fund
|
|
|
1,025,296 |
|
|
|
871,595 |
|
*Putnam
Retirementready 2045 Fund
|
|
Mutual
Fund
|
|
|
932,600 |
|
|
|
782,574 |
|
*Putnam
Retirementready 2050 Fund
|
|
Mutual
Fund
|
|
|
257,776 |
|
|
|
229,935 |
|
ING
Index Plus Small Cap Fund
|
|
Mutual
Fund
|
|
|
1,520,035 |
|
|
|
1,222,926 |
|
*Putnam
Stable Value Fund
|
|
Collective
Trusts
|
|
|
22,593,364 |
|
|
|
23,061,498 |
|
*Putnam
International Equity Fund
|
|
Mutual
Fund
|
|
|
16,335,677 |
|
|
|
15,961,623 |
|
Neuberger
Berman Genesis Fund
|
|
Mutual
Fund
|
|
|
12,177,277 |
|
|
|
12,188,278 |
|
Vanguard
S&P 500 Index Fund
|
|
Mutual
Fund
|
|
|
7,688,611 |
|
|
|
8,524,605 |
|
Lord
Abbett Mid Cap Value Fund
|
|
Mutual
Fund
|
|
|
6,925,726 |
|
|
|
5,856,402 |
|
T.
Rowe Price Blue Chip Growth Fund
|
|
Mutual
Fund
|
|
|
14,142,885 |
|
|
|
15,486,276 |
|
Van
Kampen Growth & Income Fund
|
|
Mutual
Fund
|
|
|
6,553,069 |
|
|
|
6,250,555 |
|
|
|
|
|
|
161,765,310 |
|
|
|
203,427,801 |
|
Participant
loans (various maturity dates, with interest rates ranging from 5.0% to
9.25%)
|
|
Loan
|
|
|
- |
|
|
|
987,994 |
|
Totals
|
|
|
|
$ |
161,765,310 |
|
|
$ |
204,415,795 |
|
*
Party-in-interest.
See
Report of Independent Registered Public Accounting Firm.