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Overview

Plan Information

  • Plan Year01/01/2008 — 12/31/2008
  • Date of Plan08/01/1979
  • Net Assets as of 12/31/2008 $237,257,360
  • Plan Number3
  • Plan Type Single Employer
  • Is the plan collectively bargained?Yes
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2008

  • Active (Eligible) Participants3,365
  • Retired or separated participants receiving benefits144
  • Other retired or separated participants entitled to future benefits381
  • Subtotal3,890
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits40
  • Total3,930
  • Total number of participants as of 01/01/20083,991
  • Number of participants with account balances3,465
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested5
  • Number of participants required to be reported on Schedule SSA162

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • AddressTwo North Ninth Street
  • CityAllentown
  • StatePA
  • Zip18101-1139
  • Telephone(610) 774-5151
  • EIN23-3041441
  • Industry Code221100
  • Named AdministratorDale M. Kleppinger
  • Named Plan SponsorMark D. Woods

Plan Administrator Information

  • Administrator NameEmployee Benefit Plan Board of Ppl Corporation
  • AddressTwo North Ninth Street
  • CityAllentown
  • StatePA
  • Zip18101-1139
  • Telephone(610) 774-5151
  • Administrator EIN23-2313635

Plan Preparer Information

  • Preparer NameGeorge R. Sunder (Gentw10) Ppl Services Corporation
  • AddressTwo North Ninth Street
  • City Allentown
  • StatePA
  • Zip18101-1179
  • Telephone(610) 774-6207
  • Preparer EIN23-3041441

Audit Information

  • Audit StatusAudited
  • AuditorParentebeard, LLC
  • Auditor EIN23-2932984
  • Audit OpinionUnqualified
  • Audit Type Full Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.
2G Total participant-directed account plan Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J Code section 401(k) feature A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.
2K Code section 401(m) arrangement Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $15,000,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? No
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No

Financials

Income and Expense Statement

Income $-48,285,671
Contributions $22,896,495
Cash Contributions $22,896,495
Cash from Employers $5,123,506
Cash from Participants $17,405,667
Others (including rollovers) $367,322
Noncash Contributions $0
Total Earnings on Investments $-71,182,166
Total Interest $255,020
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $255,020
Interest from Other Investments $0
Total Dividends $0
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $0
Aggregate Proceeds $0
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $0
Real Estate $0
Other $0
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $-71,437,186
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $0
Other Income $0
Expenses $21,025,621
Total Benefit Payments $21,009,366
Directly to participants or beneficiaries, including direct rollovers $21,009,366
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $16,255
Professional Fees $16,255
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $-69,311,292
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $3,597,163

Asset and Liability Statement

12/31/2008 12/31/2007 Change YOY
Total Assets $237,257,360 $309,550,074 -23.35%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $0 $0 0.0%
Employer Contributions $0 $0 0.0%
Participant Contributions $0 $0 0.0%
Other Contributions $0 $0 0.0%
General Investments $0 $0 0.0%
Interest-bearing cash $0 $0 0.0%
U.S. Government Securities $0 $0 0.0%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $0 $0 0.0%
Preferred $0 $0 0.0%
Common $0 $0 0.0%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $3,667,220 $3,207,191 14.34%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $233,590,140 $306,342,883 -23.75%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $0 $0 0.0%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $0 $0 0.0%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $0 $0 0.0%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $0 $0 0.0%
Net Assets $237,257,360 $309,550,074 -23.35%

Service Providers

Service Providers

Name Nature of Service Relationship to Plan Sponsor Gross Salary or Allowances Paid by Plan Fees and Commissions Paid by Plan Total Salary/Fees
Fidelity Management Trust Co. Trustee (Corporate) $0 $16,255 $16,255
Total $0 $16,255 $16,255

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Ppl Defined Contribution Master Tru Ppl Services Corporation DFE: Master Trust Investment Account $233,590,140
Total $233,590,140

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.