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Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan01/01/1985
  • Net Assets as of 12/31/2018 $252,222,046
  • Plan Number3
  • 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 12/31/2018

  • Active (Eligible) Participants401
  • Retired or separated participants receiving benefits97
  • Other retired or separated participants entitled to future benefits1,827
  • Subtotal2,325
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits31
  • Total2,356
  • Total number of participants as of 01/01/20182,810
  • Number of participants with account balances2,320
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested21

Expenses

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

Sponsor Information

  • Address1 Avon Place
  • CitySuffern
  • StateNY
  • Zip10901
  • Telephone(914) 935-2000
  • EIN13-0544597
  • Industry Code339900
  • Named AdministratorUlises Bravo

Plan Administrator Information

  • Administrator NamePlan Administrator Committee
  • AddressC/O Avon Products, Inc. 1 Avon Plaza
  • CityRYE
  • StateNY
  • Zip10580
  • Telephone(914) 935-2000
  • Administrator EIN13-0544597

Audit Information

  • Audit StatusAudited
  • AuditorCohnreznick LLP
  • Auditor EIN22-1478099
  • 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.
2O ESOP other than a leveraged ESOP An Employee Stock Ownership Plan (ESOP) is a type of employee benefit plan designed to invest primarily in employer stock.

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 $3,500,000
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 $-6,061,918
Contributions $7,806,748
Cash Contributions $7,806,748
Cash from Employers $2,580,739
Cash from Participants $5,159,091
Others (including rollovers) $66,918
Noncash Contributions $0
Total Earnings on Investments $-13,868,796
Total Interest $46,225
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $46,225
Interest from Other Investments $0
Total Dividends $3,633,450
Preferred Stock $0
Common Stock $0
Rents $0
Net gain (loss) on sale of assets $-14,150
Aggregate Proceeds $282,720
Aggregate Carrying Amount $296,870
Total Unrealized Appreciation (depreciation) of assets $-739,525
Real Estate $0
Other $-739,525
Net investment gain (loss) from common/collective trusts $-10,499,060
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 $-6,295,736
Other Income $130
Expenses $40,718,034
Total Benefit Payments $40,201,510
Directly to participants or beneficiaries, including direct rollovers $40,201,510
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $13,068
Certain deemed distributions of participant loans $77,469
Interest expense $0
Total Administrative Expenses $425,987
Professional Fees $39,000
Contract Administrator Fees $0
Investment Advisory and management fees $263,276
Other Administrative Fees $123,711
Net Income $-46,779,952
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2018 12/31/2017 Change YOY
Total Assets $252,222,046 $299,001,998 -15.65%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $66,759 $277,873 -75.97%
Employer Contributions $66,759 $135,290 -50.65%
Participant Contributions $0 $142,583 -100.00%
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 $730,697 $882,021 -17.16%
Value of interest in common/collective trusts $181,526,385 $217,250,188 -16.44%
Value of interest in pooled separate accounts $0 $21,421,848 -100.00%
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 $46,996,709 $56,342,573 -16.59%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $21,107,467 $0 0.0%
Employer-related Investments $1,794,029 $2,827,495 -36.55%
Employer Securities $1,794,029 $2,827,495 -36.55%
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 $252,222,046 $299,001,998 -15.65%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Great-West Annuity & Life Insurance

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
Great-West Life & Annuity Insurance Recordkeeping and information management (computing, tabulating, data processing, etc.), Participant loan processing, Direct payment from the plan, Recordkeeping fees NONE $123,712 $0 $123,712
Advised Asset Group Investment advisory (participants), Direct payment from the plan NONE $123,090 $0 $123,090
Capfinancial Partners LLC Investment advisory (plan) NONE $104,218 $0 $104,218
Cohnreznick LLP Accounting (including auditing) NONE $39,000 $0 $39,000
Gallagher Benefit Services Inc Investment advisory (plan) NONE $35,969 $0 $35,969
Cowan Execution Services, LLC Direct payment from the plan NONE $9,238 $0 $9,238
Total $435,227 $0 $435,227

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Great-West Life & Annuity Insurance Millennium Trust Co. Recordkeeping and information management (computing, tabulating, data processing, etc.), Recordkeeping fees Payments of Up To $10.00 Per Rollover Account $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.

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
S&P 500 Index Nl Tier 3 Northern Trust DFE: Common/Collective Trust $27,511,466
Lifepath Index 2030 O Black Rock DFE: Common/Collective Trust $25,138,348
Lifepath Index 2025 O Black Rock DFE: Common/Collective Trust $23,974,569
Lifepath Index 2035 O Black Rock DFE: Common/Collective Trust $19,329,420
Lifepath Index 2040 O Black Rock DFE: Common/Collective Trust $17,368,044
Lifepath Index 2020 O Black Rock DFE: Common/Collective Trust $16,678,501
Lifepath Index Retirement O Black Rock DFE: Common/Collective Trust $16,002,092
Lifepath Index 2045 O Black Rock DFE: Common/Collective Trust $11,492,684
Aggregate Bond Index Tier 3 Northern Trust DFE: Common/Collective Trust $7,477,107
Acwi Ex-Us Imi-Dc-Nl Northern Trust DFE: Common/Collective Trust $6,667,298
Lifepath Index 2050 O Black Rock DFE: Common/Collective Trust $5,740,832
Extended Equity Mkt Index Nl Northern Trust DFE: Common/Collective Trust $4,146,024
Anchor Account IV New York Life Insurance Co DFE: Pooled Separate Account $0
Total $181,526,385

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
New York Life Insureance Company 165
EIN 13-5582869
Industry Code 66915
Contract Number GA31673
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $0
Value in Separate Accounts at Year End $21,107,467
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 Unspecified
Balance at the end of the previous year $0
Additions $0
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $0
Transferred from separate account $0
Other $0
Total of Balance and Additions $0
Deductions $0
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 $0
Balance at the end of the current year $0