Back to top
FORM 5500 DATA

Bayer Corporation Savings and Retirement Plan

Overview

Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/01/1984
  • Net Assets as of 12/31/2017 $5,382,530,211
  • Plan Number51
  • Plan Type Single Employer
  • Is the plan collectively bargained? No
  • Did the plan file for an extension of time or the DFVC Program?Yes
  • Plan Funding ArrangementInsurance Trust
  • Plan Benefit ArrangementInsurance Trust

Participant Information as of 12/31/2017

  • Active (Eligible) Participants11,711
  • Retired or separated participants receiving benefits1,055
  • Other retired or separated participants entitled to future benefits7,273
  • Subtotal20,039
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits107
  • Total20,146
  • Total number of participants as of 01/01/201720,171
  • Number of participants with account balances20,007
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested261

Expenses

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

Sponsor Information

  • Address100 Bayer Road
  • CityPittsburgh
  • StatePA
  • Zip15205-9741
  • Telephone(888) 473-1001
  • EIN25-1339219
  • Industry Code325410
  • Named AdministratorMichael Russo
  • Named Plan SponsorMichael Russo

Audit Information

  • Audit StatusAudited
  • AuditorSchneider Downs & Co., Inc.
  • Auditor EIN25-1408703
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope 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.
2F ERISA section 404(c) Plan This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.
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.
2T Participant-directed Account Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.
3F Leased Employees Plan sponsor(s) received services of leased employees, as defined in Code section 414(n), during the plan year.
3H Controlled Group Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

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 $10,000,000
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
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $1,099,551,652
Contributions $329,678,558
Cash Contributions $329,678,558
Cash from Employers $166,280,901
Cash from Participants $142,577,823
Others (including rollovers) $20,819,834
Noncash Contributions $0
Total Earnings on Investments $769,873,094
Total Interest $13,818,558
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $1,324,832
Interest from Other Investments $12,493,726
Total Dividends $86,537,214
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 $432,904,007
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $236,613,315
Other Income $0
Expenses $314,310,422
Total Benefit Payments $312,128,644
Directly to participants or beneficiaries, including direct rollovers $311,470,361
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $658,283
Corrective Distributions $130,530
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $2,051,248
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $2,051,248
Net Income $785,241,230
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2017 12/31/2016 Change YOY
Total Assets $5,382,530,211 $4,597,288,981 17.08%
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 $37,978,137 $35,567,170 6.78%
Value of interest in common/collective trusts $3,233,316,777 $1,631,321,483 98.20%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $2,098,198,433 $2,917,363,464 -28.08%
Value of funds held in insurance co. general account $13,036,864 $13,036,864 0.00%
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 $5,382,530,211 $4,597,288,981 17.08%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • The Vanguard Group, Inc.

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
The Vanguard Group, Inc. Recordkeeping and information management (computing, tabulating, data processing, etc.), Trustee (directed), Investment advisory (participants), Participant loan processing, Investment management fees paid indirectly by plan NONE $2,111,873 $0 $2,111,873
Total $2,111,873 $0 $2,111,873

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
Vftc Institutional 500 Index Trust Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $914,416,639
Vftc Inst. Ttl. Bond Mkt Index Trst Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $347,252,179
Vftc Inst. Ttl. Int. Stock Index Tr Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $281,707,424
Vftc Inst. Ext. Market Index Trust Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $250,609,925
Vftc Target Ret. 2025 Trust Plus Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $242,397,937
Vftc Target Ret. 2035 Trust Plus Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $206,027,617
Vftc Target Ret. 2030 Trust Plus Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $174,764,937
Vftc Target Ret. 2040 Trust Plus Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $163,021,049
Vftc Target Ret. 2020 Trust Plus Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $161,424,047
Vftc Target Ret. 2045 Trust Plus Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $157,710,983
Vftc Target Ret. 2015 Trust Plus Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $87,861,233
Vftc Target Ret. 2050 Trust Plus Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $78,197,199
Metlife Separate Account Metropolitan Life DFE: Common/Collective Trust $51,346,450
Vftc Target Ret. Income Trust Plus Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $42,331,733
Loomis Sayles Core Plus Fixed Incom Loomis Sayles Trust Company LLC DFE: Common/Collective Trust $25,206,931
Vftc Target Ret. 2055 Trust Plus Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $23,389,898
Nyl Collective Trust New York Life DFE: Common/Collective Trust $19,255,039
Vftc Target Ret. 2060 Trust Plus Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $6,352,221
Vftc Target Ret. 2065 Trust Plus Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $43,336
Pru Core Cnsrv Bond Trust Prudential Trust Company DFE: Common/Collective Trust $0
Vftc Target Ret. 2010 Trust Plus Vanguard Fiduciary Trust Company DFE: Common/Collective Trust $0
Total $3,233,316,777

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
New York Life 4,804
EIN 13-5582869
Industry Code 66915
Contract Number GAC 34377
Contract Year 01/01/2017 — 12/31/2017
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees There are no brokers listed for this plan.
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Type of Contract Guaranteed Investment
Balance at the end of the previous year $13,036,864
Additions $292,517
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $292,517
Transferred from separate account $0
Other $0
Total of Balance and Additions $13,329,381
Deductions $292,518
Disbursed from fund to pay benefits or purchase annuities during the year $0
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $292,518
Balance at the end of the current year $13,036,863