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SPX Corporation Retirement Savings and Stock Ownership Plan


Plan Information

  • Plan Year01/01/2017 — 12/31/2017
  • Date of Plan01/01/1952
  • Net Assets as of 12/31/2017 $694,127,460
  • Plan Number5
  • 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 Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2017

  • Active (Eligible) Participants3,429
  • Retired or separated participants receiving benefits239
  • Other retired or separated participants entitled to future benefits3,867
  • Subtotal7,535
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits117
  • Total7,652
  • Total number of participants as of 01/01/20177,965
  • Number of participants with account balances6,645
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0


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

Sponsor Information

  • Address13320-A Ballantyne Corporate Place
  • CityCharlotte
  • StateNC
  • Zip28277
  • Telephone(980) 474-3700
  • EIN38-1016240
  • Industry Code339900
  • Named AdministratorElaine Krom

Plan Administrator Information

  • Administrator NameAdministrative Committee - Spx
  • Address13320-A Ballantyne Corporate Place
  • CityCharlotte
  • StateNC
  • Zip28277
  • Telephone(980) 474-3700
  • Administrator EIN62-1734313

Audit Information

  • Audit StatusAudited
  • AuditorPlante & Moran PLLC
  • Auditor EIN38-1357951
  • 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.
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.
2P Leveraged ESOP An Employee Stock Ownership Plan (ESOP) that acquires employer securities with borrowed money or other debt-financing techniques.
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.
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 $30,000,000
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


Income and Expense Statement

Income $147,364,196
Contributions $27,238,481
Cash Contributions $27,238,481
Cash from Employers $8,906,595
Cash from Participants $15,674,785
Others (including rollovers) $2,657,101
Noncash Contributions $0
Total Earnings on Investments $120,125,715
Total Interest $488,120
Interest-Bearing Cash $18,864
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $469,256
Interest from Other Investments $0
Total Dividends $28,040,537
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $2,836,442
Aggregate Proceeds $34,762,242
Aggregate Carrying Amount $31,925,800
Total Unrealized Appreciation (depreciation) of assets $27,161,369
Real Estate $0
Other $27,161,369
Net investment gain (loss) from common/collective trusts $1,395,447
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 $60,203,800
Other Income $0
Expenses $60,177,687
Total Benefit Payments $60,061,417
Directly to participants or beneficiaries, including direct rollovers $60,061,417
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $30,716
Interest expense $0
Total Administrative Expenses $85,554
Professional Fees $57,308
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $28,246
Net Income $87,186,509
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 $694,127,460 $606,940,951 14.36%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $803,358 $687,213 16.90%
Employer Contributions $383,341 $280,011 36.90%
Participant Contributions $420,017 $407,202 3.15%
Other Contributions $0 $0 0.0%
General Investments $3,083,461 $2,720,522 13.34%
Interest-bearing cash $3,083,461 $2,720,522 13.34%
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 $44,126,159 $34,885,884 26.49%
Preferred $0 $0 0.0%
Common $44,126,159 $34,885,884 26.49%
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 $9,228,386 $9,452,803 -2.37%
Value of interest in common/collective trusts $84,564,299 $90,913,015 -6.98%
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 $492,342,663 $422,913,146 16.42%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $0 $0 0.0%
Employer-related Investments $59,979,134 $45,368,368 32.20%
Employer Securities $59,979,134 $45,368,368 32.20%
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 $694,127,460 $606,940,951 14.36%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Inv Instit Oper Co

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
Plante & Moran PLLC Accounting (including auditing), Direct payment from the plan NONE $44,024 $0 $44,024
Jenner & Block LLC Legal, Direct payment from the plan NONE $8,539 $0 $8,539
Fidelity Inv Instit Operations Co Participant loan processing, Sub-transfer agency fees, Recordkeeping fees, Account maintenance fees NONE $0 $0 $0
Total $52,563 $0 $52,563

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Fidelity Inv Inst Operations Co. Abf Lg Cap Val Inst-Boston Financia Sub-transfer agency fees .04% $0
Fidelity Inv Inst Operations Co. Baron Growth-Dst Systems, Inc. Sub-transfer agency fees .40% $0
Fidelity Inv Inst Operations Co. Baron Growth Inst-Dst Systems, Inc. Sub-transfer agency fees .15% $0
Fidelity Inv Inst Operations Co. Gs Growth Opps Inst-Goldman, Sachs Sub-transfer agency fees .10% $0
Fidelity Inv Inst Operations Co. Invs Devlp Mkts R5-Invesco Canada Sub-transfer agency fees .35% $0
Fidelity Inv Inst Operations Co. Nb Genesis-Inst Cl-State Street Ban Sub-transfer agency fees .10% $0
Fidelity Inv Inst Operations Co. Vrts C Mdcp Val Eq I - Virtus Fund Sub-transfer agency fees .40% $0
Fidelity Inv Inst Operations Co. Trp Div Growth-T. Rowe Price Serv Sub-transfer agency fees .15% $0
Fidelity Inv Inst Operations Co. Wm Blair Sm Cp Val I-Boston Finan Sub-transfer agency fees .15% $0
*As outlined by the Form 5500 Instructions for service providers with indirect compensation.

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.



Name of Investment Investment Manager Type of Investment Dollar Value
Fidelity Mip II Cl 3 Fidelity Management Trust Company DFE: Common/Collective Trust $84,564,299
Total $84,564,299

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.