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Overview

Plan Information

  • Plan Year01/01/2006 — 12/31/2006
  • Date of Plan07/01/1965
  • Net Assets as of 12/31/2006 $4,945,689,680
  • Plan Number2
  • 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 12/31/2006

  • Active (Eligible) Participants29,569
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits167
  • Subtotal29,736
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits4
  • Total29,740
  • Total number of participants as of 01/01/200640,508
  • Number of participants with account balances27,970
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0
  • Number of participants required to be reported on Schedule SSA1,983

Expenses

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

Sponsor Information

  • Address100 Route 206 North
  • CityPeapack
  • StateNJ
  • Zip07977-0000
  • Telephone(908) 901-6110
  • EIN13-5315170
  • Industry Code325410
  • Named AdministratorTimothy L. Cowley
  • Named Plan SponsorTimothy L. Cowley

Plan Administrator Information

  • Administrator NameThe Savings Plan Committee
  • Address235 E 42nd St
  • CityNew York
  • StateNY
  • Zip10017-5703
  • Telephone(866) 476-8723
  • Administrator EIN13-2875255

Plan Preparer Information

  • Preparer NameFidelity Employer Services
  • Address300 Puritan Way
  • City Marlborough
  • StateMA
  • Zip01752
  • Telephone(617) 393-2100
  • Preparer EIN04-2647786

Audit Information

  • Audit StatusAudited
  • AuditorKPMG LLP
  • Auditor EIN13-5565207
  • 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.
2H Partial participant-directed account plan Participants have the opportunity to direct the investment of a portion of 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.
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 $80,000,000
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? Yes
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 $1,050,864,750
Contributions $433,471,052
Cash Contributions $433,471,052
Cash from Employers $124,269,005
Cash from Participants $309,202,047
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $617,393,698
Total Interest $25,764,771
Interest-Bearing Cash $0
U.S. Government Securities $6,906,985
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $4,369,350
Interest from Other Investments $14,488,436
Total Dividends $80,836,520
Preferred Stock $0
Common Stock $80,836,520
Rents $0
Net gain (loss) on sale of assets $23,702,374
Aggregate Proceeds $747,056,352
Aggregate Carrying Amount $723,353,978
Total Unrealized Appreciation (depreciation) of assets $195,722,375
Real Estate $0
Other $195,722,375
Net investment gain (loss) from common/collective trusts $134,854,851
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 $156,512,807
Other Income $0
Expenses $559,192,442
Total Benefit Payments $555,685,765
Directly to participants or beneficiaries, including direct rollovers $555,685,765
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $2,205,054
Interest expense $0
Total Administrative Expenses $1,301,623
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $1,301,623
Net Income $491,672,308
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2006 12/31/2005 Change YOY
Total Assets $4,949,570,180 $4,456,445,140 11.07%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $180,553,419 $15,396,888 1072.66%
Employer Contributions $3,595,144 $3,483,075 3.22%
Participant Contributions $8,680,151 $8,547,192 1.56%
Other Contributions $168,278,124 $3,366,621 4898.43%
General Investments $0 $174,586,698 -100.00%
Interest-bearing cash $0 $0 0.0%
U.S. Government Securities $0 $174,586,698 -100.00%
Corporate Debt Instruments $0 $0 0.0%
Preferred $0 $0 0.0%
All Other $0 $0 0.0%
Corporate Stocks $2,071,698,317 $2,089,737,661 -0.86%
Preferred $0 $0 0.0%
Common $2,071,698,317 $2,089,737,661 -0.86%
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 $65,952,542 $71,196,294 -7.37%
Value of interest in common/collective trusts $990,828,310 $724,261,672 36.81%
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 $1,285,495,664 $1,055,450,286 21.80%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $355,041,928 $325,815,641 8.97%
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 $3,880,500 $2,427,768 59.84%
Benefit Claims Payable (1) $1,904,053 $1,148,538 65.78%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $1,976,447 $1,279,230 54.50%
Net Assets $4,945,689,680 $4,454,017,372 11.04%

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
Capital Guardian Trust Company Investment Management $0 $751,517 $751,517
The Northern Trust Company Trustee (Corporate) $0 $300,183 $300,183
Fidelity Management Trust Company Investment Management $0 $240,455 $240,455
Barclays Global Investors Investment Management $0 $9,468 $9,468
Total $0 $1,301,623 $1,301,623

Investments

Investments

Name of Investment Investment Manager Type of Investment Dollar Value
S&P 500 Eqty Index Fund The Northern Trust Company DFE: Common/Collective Trust $437,828,950
All Country World Fund Capital Guardian DFE: Common/Collective Trust $241,200,381
Lifepath 2020 Barclays Global Investors DFE: Common/Collective Trust $77,912,949
Lifepath 2010 Barclay Global Investors DFE: Common/Collective Trust $68,175,724
Lifepath 2030 Barclays Global Investors DFE: Common/Collective Trust $61,628,316
Lifepath 2040 Barclays Global Investors DFE: Common/Collective Trust $44,942,852
Daily Russell 2000 The Northern Trust Company DFE: Common/Collective Trust $30,125,914
Lifepath 2000 Barclays Global Investors DFE: Common/Collective Trust $29,013,224
Total $990,828,310

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.