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Overview

Plan Information

  • Plan Year01/01/2007 — 12/31/2007
  • Date of Plan07/01/1965
  • Net Assets as of 12/31/2007 $4,503,089,550
  • 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 12/31/2007

  • Active (Eligible) Participants33,378
  • Retired or separated participants receiving benefits502
  • Other retired or separated participants entitled to future benefits17,036
  • Subtotal50,916
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits96
  • Total51,012
  • Total number of participants as of 01/01/200729,740
  • Number of participants with account balances47,856
  • 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 SSA4,283

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 Ms 125
  • CityPeapack
  • StateNJ
  • Zip07977-0000
  • Telephone(908) 901-6110
  • EIN13-5315170
  • Industry Code325410
  • Named AdministratorJoann M. Eisenhart
  • Named Plan SponsorJoann M. Eisenhart

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 $25,000,000
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 $490,633,755
Contributions $383,236,616
Cash Contributions $383,236,616
Cash from Employers $111,637,973
Cash from Participants $271,598,643
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $94,401,912
Total Interest $8,011,403
Interest-Bearing Cash $0
U.S. Government Securities $54,755
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $4,656,792
Interest from Other Investments $3,299,856
Total Dividends $77,043,197
Preferred Stock $0
Common Stock $77,043,197
Rents $0
Net gain (loss) on sale of assets $-7,148,074
Aggregate Proceeds $680,684,521
Aggregate Carrying Amount $687,832,595
Total Unrealized Appreciation (depreciation) of assets $-173,632,110
Real Estate $0
Other $-173,632,110
Net investment gain (loss) from common/collective trusts $102,598,094
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 $87,529,402
Other Income $12,995,227
Expenses $936,935,979
Total Benefit Payments $935,639,338
Directly to participants or beneficiaries, including direct rollovers $935,639,338
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $77,429
Interest expense $0
Total Administrative Expenses $1,219,212
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $1,219,212
Net Income $-446,302,224
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2007 12/31/2006 Change YOY
Total Assets $4,504,389,599 $4,949,570,180 -8.99%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $10,069,389 $180,553,419 -94.42%
Employer Contributions $2,893,875 $3,595,144 -19.51%
Participant Contributions $7,005,179 $8,680,151 -19.30%
Other Contributions $170,335 $168,278,124 -99.90%
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 $1,320,520,262 $2,071,698,317 -36.26%
Preferred $0 $0 0.0%
Common $1,320,520,262 $2,071,698,317 -36.26%
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 $54,675,721 $65,952,542 -17.10%
Value of interest in common/collective trusts $1,404,129,475 $990,828,310 41.71%
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 $1,366,805,119 $1,285,495,664 6.33%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $348,189,633 $355,041,928 -1.93%
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 $1,300,049 $3,880,500 -66.50%
Benefit Claims Payable (1) $965,792 $1,904,053 -49.28%
Operating Payables (1) $0 $0 0.0%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $334,257 $1,976,447 -83.09%
Net Assets $4,503,089,550 $4,945,689,680 -8.95%

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 $561,390 $561,390
T.Rowe Price Stable Asset Mgt Inc Investment Management $0 $439,136 $439,136
The Northern Trust Company Trustee (Corporate) $0 $159,113 $159,113
Fidelity Management Trust Company Investment Management $0 $59,573 $59,573
Total $0 $1,219,212 $1,219,212

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 $430,811,144
All Country World Fund Capital Guardian DFE: Common/Collective Trust $374,403,001
Mfo Bgi Us Debt Index Fd K Barclay Global Investors DFE: Common/Collective Trust $167,377,087
Lifepath 2020 Barclays Global Investors DFE: Common/Collective Trust $102,457,299
Lifepath 2030 Barclays Global Investors DFE: Common/Collective Trust $82,447,048
Lifepath 2010 Barclay Global Investors DFE: Common/Collective Trust $76,602,998
Lifepath 2040 Barclays Global Investors DFE: Common/Collective Trust $64,021,889
Daily Russell 2000 The Northern Trust Company DFE: Common/Collective Trust $40,844,669
Lifepath 2000 Barclays Global Investors DFE: Common/Collective Trust $33,087,104
Collective Short Term Inv Fund The Northern Trust DFE: Common/Collective Trust $28,415,648
Collective Short Term The Northern Trust DFE: Common/Collective Trust $3,661,588
Total $1,404,129,475

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.