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Overview

Plan Information

  • Plan Year01/01/2014 — 12/31/2014
  • Date of Plan11/28/1958
  • Net Assets as of 12/31/2014 $27,040,856,787
  • Plan Number334
  • Plan Type Multiple Employer
  • Is the plan collectively bargained?Yes
  • 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 12/31/2014

  • Active (Eligible) Participants130,582
  • Retired or separated participants receiving benefits8
  • Other retired or separated participants entitled to future benefits113,096
  • Subtotal243,686
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits630
  • Total244,316
  • Total number of participants as of 01/01/2014242,674
  • Number of participants with account balances237,279
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

Expenses

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

Sponsor Information

  • Address3135 Easton Turnpike
  • CityFairfield
  • StateCT
  • Zip06828-0001
  • Telephone(800) 432-3450
  • EIN14-0689340
  • Industry Code335900
  • Named AdministratorDenise Faggella

Plan Administrator Information

  • Administrator NameGeneral Electric Company
  • AddressPo Box 6024
  • CitySchenectady
  • StateNY
  • Zip12301-6024
  • Telephone(800) 432-3450
  • Administrator EIN14-0689340

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.
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.
2S Automatic Enrollment Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.
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 $90,000,000
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 $1,805,124,573
Contributions $1,556,052,565
Cash Contributions $1,170,637,173
Cash from Employers $358,417,631
Cash from Participants $730,665,402
Others (including rollovers) $81,554,140
Noncash Contributions $385,415,392
Total Earnings on Investments $249,072,008
Total Interest $31,403,150
Interest-Bearing Cash $181,816
U.S. Government Securities $7,265,175
Corporate Debt Instruments $1,465,849
Loans (other than to participants) $3,531,707
Participant Loans $18,937,016
Interest from Other Investments $21,587
Total Dividends $1,102,805,550
Preferred Stock $0
Common Stock $349,479,610
Rents $0
Net gain (loss) on sale of assets $-151,111,879
Aggregate Proceeds $12,617,039,646
Aggregate Carrying Amount $12,768,151,525
Total Unrealized Appreciation (depreciation) of assets $-928,768,375
Real Estate $0
Other $-928,768,375
Net investment gain (loss) from common/collective trusts $406,712,085
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 $-211,968,523
Other Income $0
Expenses $2,136,370,819
Total Benefit Payments $2,135,903,552
Directly to participants or beneficiaries, including direct rollovers $2,094,148,045
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $41,755,507
Corrective Distributions $54,425
Certain deemed distributions of participant loans $412,842
Interest expense $0
Total Administrative Expenses $0
Professional Fees $0
Contract Administrator Fees $0
Investment Advisory and management fees $0
Other Administrative Fees $0
Net Income $-331,246,246
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2014 12/31/2013 Change YOY
Total Assets $27,090,122,716 $27,454,770,963 -1.33%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $147,291,701 $156,082,255 -5.63%
Employer Contributions $3,431,643 $3,491,402 -1.71%
Participant Contributions $0 $0 0.0%
Other Contributions $143,860,058 $152,590,853 -5.72%
General Investments $2,216,013,603 $2,646,671,659 -16.27%
Interest-bearing cash $310,200,102 $319,806,361 -3.00%
U.S. Government Securities $1,891,388,305 $2,326,865,298 -18.72%
Corporate Debt Instruments $38,017,556 $4,040,647 840.88%
Preferred $14,425,196 $0 0.0%
All Other $23,592,360 $4,040,647 483.88%
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) $183,759,838 $75,342,022 143.90%
Participants Loans $425,009,053 $418,109,468 1.65%
Value of interest in common/collective trusts $5,636,459,635 $4,274,999,761 31.85%
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 $8,846,620,836 $8,710,640,824 1.56%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $0 $4,072,187 0.0%
Employer-related Investments $9,611,375,690 $11,164,812,140 -13.91%
Employer Securities $9,611,375,690 $11,164,812,140 -13.91%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $49,265,929 $82,667,930 -40.41%
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) $49,265,929 $82,667,930 -40.41%
Net Assets $27,040,856,787 $27,372,103,033 -1.21%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Investments Institutional
  • Blackrock Institutional Trust
  • Alliancebernstein Lp
  • State Street Global Advisors

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
Ge Asset Management Incorporated Investment management fees paid indirectly by plan, Soft dollars commissions, Non-monetary compensation Wholly Owned Subsidiary $0 $5,445 $5,445
Total $0 $5,445 $5,445

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
Equity Index Nl Fund F Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $2,831,061,038
Mid Cap Equity Nl Fund F Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $787,681,188
Msci Acwi Ex-Us Index Nl Fund F Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $715,179,601
Us Debt Index Nl Fund F Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $526,829,310
Russell 2000 Index Nl Fund F Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $511,498,264
Us Tips Nl Fund F Blackrock Institutional Trust Company, N.A. DFE: Common/Collective Trust $264,210,234
Total $5,636,459,635

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.