form11k.htm
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
_______________
FORM
11-K
[X]
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ANNUAL
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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For
the fiscal year ended December 31, 2007
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[ ]
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TRANSITION
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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For
the transition period from _____ to _____
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Commission
file number 1-5742
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A. Full
title of the plan and the address of the plan, if different from that of the
issuer named below:
Rite
Aid Services, L.L.C. 401(k) Plan
B. Name
of issuer of the securities held pursuant to the plan and the address of its
principal executive office:
Rite
Aid Corporation
30
Hunter Lane
Camp
Hill, Pennsylvania 17011
RITE
AID SERVICES, L.L.C. 401(K) PLAN
Page
REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
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1
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FINANCIAL
STATEMENTS:
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Statements
of Net Assets Available for Benefits as of December 31, 2007 and
2006
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2
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Statement
of Changes in Net Assets Available for Benefits for the Year
Ended December 31, 2007
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3
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Notes
to Financial Statements as of December 31, 2007 and 2006 and for the
Year
Ended December 31, 2007
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4–9
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SUPPLEMENTAL
SCHEDULE —
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Form
5500, Schedule H, Line 4i — Schedule of Assets (Held at End of Year) as
of December 31, 2007
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11
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NOTE: |
All
other schedules required by Section 2520.103-10 of
the Department of Labor’s Rules and Regulations for Reporting and
Disclosure under the Employee Retirement Income Security Act of 1974 have
been omitted because they are not applicable.
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REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the
Plan Administrator and
Participants of
Rite
Aid Services, L.L.C. 401(k) Plan:
We have
audited the accompanying statements of net assets available for benefits of the
Rite Aid Services, L.L.C. 401(k) Plan (the “Plan”) as of December 31,
2007 and 2006, and the related statement of changes in net assets available
for benefits
for the year ended December 31, 2007. These financial statements are the
responsibility of the Plan Administrator. Our responsibility is to express an
opinion on these financial statements based on our audits.
We
conducted our audits in accordance with standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audits to obtain reasonable assurance about whether the
financial statements are free of material misstatement. The Plan is not required
to have, nor were we engaged to perform, an audit of its internal control over
financial reporting. Our audits included consideration of internal control over
financial reporting as a basis for designing audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Plan’s internal control over financial
reporting. Accordingly, we express no such opinion. An audit also includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements, assessing the accounting principles used and
significant estimates made by the Plan Administrator, as well as evaluating the
overall financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In
our opinion, such financial statements present fairly, in all material respects,
the net assets available for benefits of the Plan as of December 31, 2007
and 2006, and the changes in net assets available for benefits for the year
ended December 31, 2007, in conformity with accounting principles generally
accepted in the United States of America.
Our
audits were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedule listed in the
Table of Contents is presented for the purpose of additional analysis and is not
a required part of the basic financial statements, but is supplementary
information required by the Department of Labor’s Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income Security Act of
1974. This schedule is the responsibility of the Plan Administrator. Such
supplemental schedule has been subjected to the auditing procedures applied in
our audit of the basic 2007 financial statements and, in our opinion, is fairly
stated in all material respects when considered in relation to the basic 2007
financial statements taken as a whole.
/s/
Deloitte & Touche LLP
Philadelphia,
Pennsylvania
June
27, 2008
RITE
AID SERVICES, L.L.C. 401(k) PLAN
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STATEMENTS
OF NET ASSETS AVAILABLE FOR BENEFITS
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AS
OF DECEMBER 31, 2007 AND 2006
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2007
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2006
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ASSETS:
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Participant-directed
investments — at fair value
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$ |
5,085,937 |
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$ |
4,689,406 |
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Contributions
receivable:
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Employer
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247 |
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236 |
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Employee
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5,234 |
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4,628 |
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Total
contributions receivable
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5,481 |
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4,864 |
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NET
ASSETS AVAILABLE FOR BENEFITS AT
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5,091,418 |
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4,694,270 |
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FAIR
VALUE
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Adjustments
from fair value to contract value for fully
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benefit-responsive
investment contracts
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1,315 |
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9,897 |
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NET
ASSETS AVAILABLE FOR BENEFITS
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$ |
5,092,733 |
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$ |
4,704,167 |
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See
notes to financial statements.
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RITE
AID SERVICES, L.L.C. 401(k) PLAN
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STATEMENT
OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
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FOR
THE YEAR ENDED DECEMBER 31, 2007
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ADDITIONS:
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Employee
contributions
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$ |
228,132 |
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Employer
contributions
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11 |
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Net
appreciation in fair value of investments
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139,002 |
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Investment
income
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151,965 |
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Total
additions
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519,110 |
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DEDUCTIONS:
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Benefit
payments
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75,231 |
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Administrative
expenses
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55,313 |
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Total
deductions
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130,544 |
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INCREASE
IN NET ASSETS AVAILABLE FOR BENEFITS
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388,566 |
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NET
ASSETS AVAILABLE FOR BENEFITS — Beginning of year
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4,704,167 |
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NET
ASSETS AVAILABLE FOR BENEFITS — End of year
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$ |
5,092,733 |
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See
notes to financial statements.
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RITE
AID SERVICES, L.L.C. 401(K) PLAN
NOTES
TO FINANCIAL STATEMENTS
AS
OF DECEMBER 31, 2007 AND 2006, AND FOR THE YEAR ENDED DECEMBER 31,
2007
The
following brief description of the Rite Aid Services, L.L.C. 401(k) Plan
(the “Plan”) is provided for general informational purposes only.
Participants should refer to the Plan document for a more complete description
of the Plan’s provisions.
General — The Plan is a
defined contribution plan. An individual account is established for each
participant and provides benefits that are based on (a) amounts the
participant and Rite Aid Corporation (the “Company” or “Plan Sponsor”)
contributed to a participant’s account, (b) investment earnings (losses),
and (c) any forfeitures allocated to the account, less any administrative
expenses charged to participant accounts, if any.
T.
Rowe Price Trust Company serves as Plan trustee with respect to all assets other
than Company stock. GreatBanc Trust Company serves as Plan trustee with respect
to Company stock. The Employee Benefits Administration Committee is the plan
administrator (“Plan Administrator”) and is responsible for the preparation of
the Plan’s financial statements.
The
Plan Administrator merged an affiliated defined contribution plan, the Rite Aid
Services, L.L.C. Union Pension Plan, into the Plan. The merger was completed on
September 29, 2006.
Participation — Each employee
who is a member of the International Brotherhood of Teamsters, Chauffeurs,
Warehousemen and Helpers of America, Local 614 becomes eligible to participate
in the Plan after attaining age 21 and completing one year of service (a
twelve-month period when at least 1,000 hours are credited).
Contributions —
Each year a participant may elect to contribute up to 15% of the participant’s
pretax annual compensation as defined in the Plan. Participants age 50 and
over may make additional pretax contributions as defined in the Plan. A
participant may also contribute, or roll over, amounts representing
distributions from another qualified defined benefit or defined contribution
plan. Effective June 16, 2001, the Plan Sponsor ceased making contributions
to the Plan pursuant to a collective bargaining agreement dated May 27,
2001. Employees continue to contribute as described above; however, there is no
Plan Sponsor match except for one-time contributions recorded pursuant to the
operational failures described in Note 8 below.
Investment Options — The Plan
provides participants with the option of investing the participant's account
balances into various investment options offered by the Plan. The Plan currently
offers 19 mutual funds, 5 custom funds, 1 common/collective trust, a stable
value fund and Rite Aid Corporation Common Stock.
The
Plan's custom funds are custom investment option created specifically for the
Plan by Northern Trust Global Advisors, Inc. The custom fund is an unregistered
custom account maintained by the trustee. The performance of the custom fund is
based on the performance of the underlying mutual funds which are registered in
the market.
Payment of Benefits — Upon
termination of service due to death, disability, or retirement, a participant
may elect to receive a lump-sum amount equal to the value of the participant’s
vested interest in the participant’s account, or installment payments as
determined by the Plan Administrator.
Loans — A participant may
elect to borrow against the participant’s vested balance at a reasonable rate of
interest as defined in the Plan document. A participant may borrow up to 50% of
the participant’s vested balance, with a maximum loan of $50,000. A participant
may only have one loan outstanding at any one time, with the exception that
participants may have up to two outstanding loans which were grandfathered at
the time the Plan was amended to no longer allow more than one
loan.
Vesting — A participant is
vested immediately in the participant’s voluntary contributions, plus actual
earnings (losses) thereon. Vesting in the Plan Sponsor’s contributions made
prior to June 16, 2001, is based on years of service, as defined in the
Plan document. A participant becomes fully vested in the Plan Sponsor
contributions upon the participant’s death, disability or attainment of normal
retirement age while employed, or the occurrence of a plan termination. If not
vested earlier for one of the foregoing reasons, and not subject to other
exceptions described in the Plan document, a participant’s account becomes fully
vested upon the participant’s attainment of five years of service. When a
participant withdraws from the Plan prior to becoming fully vested, the
non-vested portion of the participant’s account is forfeited and credited to a
suspense account. The suspense account may be reallocated to participants in the
same manner as matching contributions.
Forfeited Accounts — At
December 31, 2007 and 2006, forfeited nonvested accounts totaled $6,343 and
$0, respectively.
2.
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SIGNIFICANT
ACCOUNTING POLICIES
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Basis of Accounting — The
accompanying financial statements are prepared on the accrual basis of
accounting.
Adoption of new Accounting
Guidance — The
financial statements reflect the adoption of Financial Accounting Standards
Board Staff Position, FSP AAG INV-1 and SOP 94-4-1, Reporting of Fully
Benefit-Responsive Contracts Held by Certain Investment Companies Subject to the
AICPA Investment Company Guide and Defined-Contribution Health and Welfare and
Pension Plans (the FSP). As required by the FSP, the statements of net
assets available for benefits presents investment contracts at fair value as
well as an additional line item showing an adjustment of fully benefit
responsive contracts from fair value to contract value. The statement of changes
in net assets available for benefits is presented on a contract value basis and
was not affected by the adoption of the FSP.
Investment Valuation
and Income Recognition —
The Plan’s investments are stated at fair value. Shares
of mutual funds are valued at quoted market prices, which represent the net
asset value of shares held by the Plan at year end. Custom funds are stated at
fair value which is based on the net asset value of participation units held by
the Plan at year-end and is calculated based on the shares held in underlying
mutual fund investments and the net asset value of those investments. Common
stock is valued at quoted market prices.
Common
collective trust funds are stated at fair value as determined by the issuer of
the common collective trust funds based on the fair market value of the
underlying investments. Common collective trust funds with underlying
investments in investment contracts are valued at fair market value of the
underlying investments and then adjusted by the issuer to contract
value.
The
stable value fund (SVF) includes two fully benefit-responsive synthetic
guaranteed investment contracts (GIC) whose underlying investments are stated at
fair value and then adjusted by the issuer to contract value. Fair value of the
underlying investments is determined by the issuer of the synthetic GIC based
quoted on market prices and a fair value estimate of the wrapper contract. Fair
market value of the wrapper is estimated by converting the basis points assigned
to the wrap fees into dollars.
Participant
loans are valued at the outstanding loan balances.
The
common collective trust funds and the stable value fund may invest in fixed
interest insurance investment contracts, money market funds, corporate and
government bonds, mortgage-backed securities, bond funds, and other fixed income
securities. Participants may ordinarily direct the withdrawal or transfer of all
or a portion of their investment at contract value. Contract value represents
contributions made to the fund, plus earnings, less participant
withdrawals.
Purchases
and sales of securities are recorded on a trade-date basis. Realized gain or
loss on investment transactions is determined using the first-in, first-out
method; investment transactions are recorded at the trade date. Interest income
is recorded on the accrual basis. Dividends are recorded on the ex-dividend
date.
Management
fees and operating expenses charged to the Plan for investments in the mutual
funds are deducted from income earned on a daily basis and are not separately
reflected. Consequently, management fees and operating expenses are reflected as
a reduction of investment return for such investments.
The
Plan had 1,073 and 960 shares of Company common stock at December 31, 2007
and 2006, respectively.
Valuation of Investment(s)
Contracts — The Plan offers the SVF as an investment option. On October
1, 2006, the Plan began to offer the T. Rowe Price SVF with the Prudential SVF
blended together as a single investment split fifty percent into each of these
underlying investments. These are trust products and are comprised of group
annuity insurance products issued by The Prudential Insurance Company of America
(“Prudential”) and by T. Rowe Price Retirement Plan Services (“T. Rowe Price”)
and a portfolio of assets owned by the plan or designee. Interest on the SVF is
credited daily. T. Rowe Price calculated a blended rate which was credited and
compounded on a daily basis. The blended rate is based upon the Prudential and
T. Rowe Price rates and the 50%-50% asset split. The SVF is deemed to be fully
benefit responsive; therefore, it is presented at contract value, which
approximates fair value.
Administrative Expenses —
Plan fees and expenses related to account maintenance, transaction and
investment fund management are allocated to participant accounts. Under the
terms of the Plan document, costs relating to Plan administration may be paid by
the Plan Sponsor or paid from Plan forfeitures. For the year ended
December 31, 2007, the Plan Sponsor has paid substantially all
administrative expenses.
Use of Estimates —
The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires the Plan
Administrator to make estimates and assumptions that affect the reported amounts
of net assets available for benefits at the date of the financial statements and
the reported changes to the Plan’s net assets available for benefits during the
reporting period. Actual results may differ from those estimates and
assumptions.
The
Plan invests in mutual funds, corporate stocks and the SVF. Investment
securities, in general, are exposed to various risks, such as interest rate,
credit, and overall market volatility. Due to the level of risk associated with
certain investment securities, it is reasonably possible that changes in the
values of
investment
securities will occur in the near term and that such changes could materially
affect the amounts reported in the Statements of Net Assets Available for
Benefits.
3.
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SYNTHETIC
GUARANTEED INVESTMENT CONTRACT
|
The
plan provides a self managed stable value investment option to participants that
includes a synthetic guaranteed investment contract which simulates the
performance of a guaranteed investment contract through an issuer’s guarantee of
a specific interest rate (the wrapper contract) and a portfolio of financial
instruments that are owned by the plan. The synthetic GIC contract includes
underlying assets which are held in trust owned by the plan and utilizes
benefit-responsive wrapper contract. A portion of the master trust's Stable
Value Fund is issued by The Prudential Insurance Company of America and a
portion is managed by T. Rowe Price Associates, Inc. (TRPA). The TRPA portion of
the Fund consists of synthetic investment contracts which are selected by TRPA
and issued by banks and other financial institutions. TRPA also manages the
fixed income instruments underlying the investment contracts in its portion of
the Fund. The contract provides that participants execute plan transactions at
contract value. Contract value represents contributions made to the fund, plus
earnings, less participant withdrawals. The interest rates are reset quarterly
based on market rates of other similar investments, the current yield of the
underlying investments and the spread between the market value and contract
value. Certain events such as plan termination or a plan merger initiated by the
plan sponsor, may limit the ability of the plan to transact at contract value or
may allow for the termination of the wrapper contract at less than contract
value. The plan sponsor does not believe that any events that may limit the
ability of the plan to transact at contract value are probable.
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2007
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2006
|
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Average
yields:
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Based
on annualized earnings (1)
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5.05
%
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5.33
%
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Based
on interest rate credited to participants (2)
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4.47
%
|
4.55
%
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(1)
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Computed
by dividing the annualized one-day actual earnings of the contract on the
last day of the plan year by the fair value of the investments on the same
date.
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(2)
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Computed
by dividing the annualized one-day earnings credited to participants on
the last day of the plan year by the fair value of the investments on the
same date.
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The
following presents investments that represent 5% or more of the Plan’s
assets:
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December
31
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2007
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2006
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Stable
Value Fund
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$ |
1,216,849 |
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$ |
1,165,791 |
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Dodge
& Cox Balanced Fund
|
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|
492,983 |
|
|
|
531,956 |
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T.
Rowe Price Retirement 2025
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|
|
477,908 |
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|
468,960 |
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T.
Rowe Price Retirement 2020
|
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|
475,558 |
|
|
|
440,579 |
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T.
Rowe Price Retirement 2015
|
|
|
325,665 |
|
|
|
302,873 |
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T.
Rowe Price Retirement 2030
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|
|
311,230 |
|
|
|
291,941 |
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Vanguard
Institutional Index Fund
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|
|
281,508 |
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* |
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T.
Rowe Price Retirement 2010
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278,544 |
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|
151,558 |
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Northern
Trust Global Advisors Large-Cap Growth Fund
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|
268,237 |
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|
198,230 |
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T.
Rowe Price Equity Index Trust
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|
|
* |
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|
283,346 |
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* This
was not an investment option in the plan year presented
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The
Plan’s investments (including gains and losses on investments bought and sold,
as well as held during the year) appreciated/(depreciated) in value for the year
ended December 31, 2007, as follows:
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Investments:
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Rite
Aid Corporate Stock
|
|
$ |
(2,641 |
) |
|
Mutual
Funds
|
|
|
9,082 |
|
|
Custom
Funds
|
|
|
57,981 |
|
|
Common
and Collective Trusts
|
|
|
18,684 |
|
|
Stable
Value Funds
|
|
|
55,896 |
|
|
|
|
|
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Net
appreciation (depreciation) in fair value of investments
|
|
$ |
139,002 |
|
The
Plan obtained its latest determination letter dated July 8, 2003, in which
the Internal Revenue Service (IRS) stated that the Plan, as then designed, was
in compliance with the applicable requirements of the Internal Revenue Code
(IRC). The Plan has been amended since receiving the determination letter. The
Plan Administrator believes that the Plan is currently designed and being
operated in compliance with the applicable requirements of the IRC, including
the processes identified for remediation. Therefore, no provision for income
taxes has been included in the Plan’s financial statements.
Although
it has not expressed any intent to do so, the Plan Sponsor has the right under
the Plan to terminate the Plan subject to the provisions of ERISA. In the event
the Plan terminates, participants would become fully vested in their Plan
Sponsor contributions.
7.
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PARTY-IN-INTEREST
TRANSACTIONS
|
Certain
Plan investments are shares of mutual funds managed by T. Rowe Price Trust
Company, the trustee and custodian of the Plan. The transactions related to such
investments qualify as party-in-interest transactions. The Plan has also
permitted investment in the common stock of the Plan Sponsor, and therefore
these transactions qualify as party-in-interest transactions. The Plan
Administrator does not consider Plan Sponsor contributions or benefits paid by
the Plan to be party-in-interest transactions.
In
late 1999, the Plan Sponsor’s Board of Directors hired a new executive
management team to address and resolve various business, operational and
financial challenges confronting the Plan Sponsor. New management reviewed the
administration of the Plan for purposes of determining compliance with
provisions of the Plan and regulatory requirements. The Plan Administrator
identified certain processes not in compliance with the provisions of the Plan
or regulatory requirements. As a result of this review, in July 2001, the
Plan Administrator submitted a Voluntary Correction Program (VCP) filing with
the IRS requesting a compliance statement and approval of the correction method
for operational failures identified. On August 20, 2004, the Plan
Administrator received a fully executed compliance statement containing IRS
approval of the correction methods submitted. The Plan Sponsor completed all
corrections in accordance with the compliance statement by January 2005, thereby
eliminating exposure to penalties, taxes or disqualification by the
IRS.
Subsequent
to the July 2001 filing, the Plan Administrator identified other operational
failures in the Plan, including a failure to make certain deferral
contributions. The Plan Administrator has not submitted a VCP filing with
the IRS requesting a compliance statement and approval of the correction method
for these additional operational failures identified in the Plan. The Plan
Administrator expects to submit this VCP filing in 2008. The Plan Administrator
believes that the processes identified for remediation would not cause the Plan
to be disqualified by the IRS, therefore no provision for income taxes has been
included in the Plan’s financial statements. Penalties, taxes and remedial
payments, if any, due to noncompliance will be paid by the Company.
9.
|
RECONCILIATION
OF FINANCIALS TO FORM 5500
|
The
following is a reconciliation of net assets available for benefits per the
financial statements to the Form 5500 as of December 31, 2007.
|
Net
assets available for benefits per the financial statements
|
|
|
|
|
at
contract value
|
|
$ |
5,092,733 |
|
|
Adjustment
from contract value to fair value for fully
benefit-responsive
|
|
|
|
|
|
investment
contracts
|
|
|
(1,315 |
) |
|
|
|
|
|
|
|
Net
assets available for benefits per the Form 5500
|
|
$ |
5,091,418 |
|
For
the year ended December 31, 2007, the following is a reconciliation of net
investment income per the financial statements to the Form 5500:
|
Total
net appreciation in contract value of investments
|
|
$ |
139,002 |
|
|
Total
investment income
|
|
|
151,965 |
|
|
Adjustment
of net appreciation and investment income
|
|
|
8,582 |
|
|
|
|
|
|
|
|
Total
earnings per the Form 5500
|
|
$ |
299,549 |
|
******
RITE
AID SERVICES, L.L.C. 401(k) PLAN
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FORM
5500 — SCHEDULE H, LINE 4i — SCHEDULE OF ASSETS
|
|
|
|
|
(HELD
AT END OF YEAR)
|
|
|
|
|
|
|
|
AS
OF DECEMBER 31, 2007
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Identity
of Issuer, Borrower,
|
|
|
|
|
|
At
|
|
Lessor
or Similar Party and Description
|
|
|
Number
|
|
|
Fair
Market
|
|
|
|
|
of
Shares
|
|
|
Value
|
|
Common
and collective trust:
|
|
|
|
|
|
|
|
*T.
Rowe Price
|
Bond
Index Trust
|
|
|
184 |
|
|
$ |
4,760 |
|
Total
common and collective trust
|
|
|
|
|
|
|
|
4,760 |
|
|
|
|
|
|
|
|
|
|
|
Mutual
Funds:
|
|
|
|
|
|
|
|
|
|
*T.
Rowe Price
|
Retirement
2025
|
|
|
36,260 |
|
|
|
477,908 |
|
*T.
Rowe Price
|
Retirement
2020
|
|
|
26,807 |
|
|
|
475,558 |
|
*T.
Rowe Price
|
Retirement
2015
|
|
|
25,744 |
|
|
|
325,665 |
|
*T.
Rowe Price
|
Retirement
2030
|
|
|
16,338 |
|
|
|
311,230 |
|
*T.
Rowe Price
|
Retirement
2010
|
|
|
17,183 |
|
|
|
278,544 |
|
*T.
Rowe Price
|
International
Equity Index Fund
|
|
|
7,684 |
|
|
|
121,635 |
|
*T.
Rowe Price
|
Retirement
2035
|
|
|
4,835 |
|
|
|
65,315 |
|
*T.
Rowe Price
|
Retirement
2040
|
|
|
2,365 |
|
|
|
45,404 |
|
*T.
Rowe Price
|
Extended
Equity Market Index Fund
|
|
|
1,239 |
|
|
|
19,769 |
|
*T.
Rowe Price
|
Retirement
2005
|
|
|
600 |
|
|
|
7,073 |
|
*T.
Rowe Price
|
Retirement
Income Fund
|
|
|
112 |
|
|
|
1,492 |
|
*T.
Rowe Price
|
Retirement
2045
|
|
|
79 |
|
|
|
1,012 |
|
Dodge
& Cox
|
Balanced
Fund
|
|
|
6,086 |
|
|
|
492,983 |
|
Vanguard
|
Instl
Index Fund
|
|
|
2,099 |
|
|
|
281,508 |
|
Pimco
|
Total
Return Inst Fund
|
|
|
4,914 |
|
|
|
52,530 |
|
Vanguard
|
Small-Cap
Index Fund
|
|
|
1,306 |
|
|
|
42,564 |
|
Total
mutual funds
|
|
|
|
|
|
|
|
3,000,190 |
|
|
|
|
|
|
|
|
|
|
|
Custom
Funds:
|
|
|
|
|
|
|
|
|
|
Northern
Trust Global Advisors
|
Large-Cap
Growth Fund
|
|
|
19,914 |
|
|
|
268,237 |
|
Northern
Trust Global Advisors
|
Mid-Cap
Fund
|
|
|
8,343 |
|
|
|
125,232 |
|
Northern
Trust Global Advisors
|
International
Equity Fund
|
|
|
6,263 |
|
|
|
114,425 |
|
Northern
Trust Global Advisors
|
Small-Cap
Fund
|
|
|
4,829 |
|
|
|
76,398 |
|
Northern
Trust Global Advisors
|
Large-Cap
Value Fund
|
|
|
3,905 |
|
|
|
55,808 |
|
Total
custom funds
|
|
|
|
|
|
|
|
640,100 |
|
|
|
|
|
|
|
|
|
|
|
Stable
Value Fund Synthetic Guaranteed Investment Contract:
|
|
|
|
|
|
|
|
|
Prudential
and *T. Rowe Price
|
Stable
Value Fund
|
|
|
103,386 |
|
|
|
1,215,374 |
|
Total
Stable Value Fund Synthetic Guaranteed Investment Contract
|
|
|
|
|
|
|
1,215,374 |
|
|
|
|
|
|
|
|
|
|
|
Company
Stock Fund:
|
|
|
|
|
|
|
|
|
|
*Rite
Aid Corporation
|
Company
Stock Fund
|
|
|
1,073 |
|
|
|
2,993 |
|
|
|
|
|
|
|
|
|
|
|
*Participant
notes
|
Loan
Fund**
|
|
|
|
|
|
|
222,520 |
|
|
|
|
|
|
|
|
|
|
|
Total
Assets Held at End
|
|
|
|
|
|
|
$ |
5,085,937 |
|
|
|
|
|
|
|
|
|
|
|
*
Party-in-interest
|
|
|
|
|
|
|
|
|
|
**
The loans range in interest rates from 5.0% to 9.25% and expire through
2021.
|
|
|
|
|
|
|
|
|
SIGNATURES
The Plan. Pursuant
to the requirements of the Securities Exchange Act of 1934, the trustees (or
other persons who administer the employee benefit plan) have duly caused this
annual report to be signed on its behalf by the undersigned hereunto duly
authorized.
|
RITE
AID SERVICES, L.L.C. 401(k) PLAN
|
|
|
|
|
|
|
|
By:
|
/s/
Chuck Carlsen
|
|
|
Chuck
Carlsen, not in his individual capacity, but solely as an authorized
signatory
for the Employee Benefits Administration
Committee
|
Date: June
27, 2008
EXHIBIT
INDEX
Exhibit
Number
|
Description
|
23.1
|
Consent
of Independent Registered Public Accounting
Firm
|