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FORM 5500 DATA

MillerCoors LLC Employees' Retirement and Savings Plan

Overview

Plan Information

  • Plan Year01/01/2018 — 12/31/2018
  • Date of Plan07/09/2002
  • Net Assets as of 12/31/2018 $1,665,231,634
  • Plan Number65
  • 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) Participants5,572
  • Retired or separated participants receiving benefits362
  • Other retired or separated participants entitled to future benefits3,714
  • Subtotal9,648
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits72
  • Total9,720
  • Total number of participants as of 01/01/20189,657
  • Number of participants with account balances9,582
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested251

Expenses

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

Sponsor Information

  • Address3939 West Highland Blvd.
  • CityMilwaukee
  • StateWI
  • Zip53208-2816
  • Telephone(414) 931-2000
  • EIN26-2387410
  • Industry Code312120

Plan Administrator Information

  • Administrator NameMillercoors LLC Benefit Plan Compliance and Admin Subcommittee
  • Address3939 West Highland Blvd.
  • CityMilwaukee
  • StateWI
  • Zip53208-2816
  • Telephone(414) 931-2000
  • Administrator EIN36-4642904

Audit Information

  • Audit StatusAudited
  • AuditorSb and Company LLC
  • Auditor EIN20-2153727
  • 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.
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.
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 $20,000,000
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 $5,815,895
Contributions $113,406,063
Cash Contributions $113,406,063
Cash from Employers $51,339,063
Cash from Participants $53,202,820
Others (including rollovers) $8,864,180
Noncash Contributions $0
Total Earnings on Investments $-107,590,168
Total Interest $6,828,401
Interest-Bearing Cash $0
U.S. Government Securities $0
Corporate Debt Instruments $0
Loans (other than to participants) $0
Participant Loans $904,550
Interest from Other Investments $5,923,851
Total Dividends $47,156,271
Preferred Stock $0
Common Stock $10,178
Rents $0
Net gain (loss) on sale of assets $-3,280,282
Aggregate Proceeds $-3,280,282
Aggregate Carrying Amount $0
Total Unrealized Appreciation (depreciation) of assets $-32,799,667
Real Estate $0
Other $-32,799,667
Net investment gain (loss) from common/collective trusts $-29,750,482
Net investment gain (loss) from pooled separate accounts $716,337
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 $-96,460,746
Other Income $0
Expenses $212,753,239
Total Benefit Payments $212,695,259
Directly to participants or beneficiaries, including direct rollovers $212,695,259
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $0
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $57,980
Professional Fees $0
Contract Administrator Fees $50,371
Investment Advisory and management fees $0
Other Administrative Fees $7,609
Net Income $-206,937,344
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 $1,665,231,634 $1,872,168,978 -11.05%
Total noninterest-bearing cash $0 $0 0.0%
Receivables $28,994,234 $29,446,019 -1.53%
Employer Contributions $28,994,234 $29,446,019 -1.53%
Participant Contributions $0 $0 0.0%
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 $73,083,798 $182,562,389 -59.97%
Preferred $0 $0 0.0%
Common $73,083,798 $182,562,389 -59.97%
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 $22,344,534 $22,329,727 0.07%
Value of interest in common/collective trusts $491,987,484 $513,258,418 -4.14%
Value of interest in pooled separate accounts $50,486,216 $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 $740,229,779 $854,612,274 -13.38%
Value of funds held in insurance co. general account $258,105,589 $269,960,151 -4.39%
Other Investments $0 $0 0.0%
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 $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 $1,665,231,634 $1,872,168,978 -11.05%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

  • Fidelity Inv Instl Oper Co., Inc.

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
Fidelity Inv Instl Oper Co., Inc. Participant loan processing, Recordkeeping fees, Account maintenance fees Recordkeeper $50,371 $0 $50,371
Total $50,371 $0 $50,371

Indirect Compensation

Name Source of Indirect Compensation* Nature of Service Description of Indirect Compensation Indirect Compensation Paid by Plan
Fidelity Inv Instl Oper Co., Inc. Virtus Emrg Mkt Op I - Virtu Sub-transfer agency fees Annualized Formula - 0.25% $0
Fidelity Inv Instl Oper Co., Inc. Dodge & Cox Intl Stk Sub-transfer agency fees Annualized Formula - 0.10% $0
Fidelity Inv Instl Oper Co., Inc. Dodge & Cox Stock Sub-transfer agency fees Annualized Formula - 0.10% $0
Fidelity Inv Instl Oper Co., Inc. Jh Dscpl Val Mdcp I John Han Sub-transfer agency fees Annualized Formula - 0.10% $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
Vanguard Target 2025 Vanguard Target Inc DFE: Common/Collective Trust $68,504,439
Vanguard Target 2030 Vanguard Target Inc DFE: Common/Collective Trust $65,261,078
Vanguard Target 2035 Vanguard Target Inc DFE: Common/Collective Trust $62,634,891
Vanguard Target 2020 Vanguard Target Inc DFE: Common/Collective Trust $55,876,186
Vanguard Target 2040 Vanguard Target Inc DFE: Common/Collective Trust $53,456,994
Vanguard Target 2045 Vanguard Target Inc DFE: Common/Collective Trust $51,545,837
Jennison Large Cap Growth Jennison Associates LLC DFE: Pooled Separate Account $50,486,216
Loomis Sayles Core Bond Loomis Sayles Collective Investment Trusts DFE: Common/Collective Trust $42,420,474
Vanguard Target 2050 Vanguard Target Inc DFE: Common/Collective Trust $39,407,356
Vanguard Target 2055 Vanguard Target Inc DFE: Common/Collective Trust $18,639,110
Vanguard Target 2015 Vanguard Target Inc DFE: Common/Collective Trust $18,092,199
Vanguard Target Inc Vanguard Target Inc DFE: Common/Collective Trust $12,219,778
Vanguard Target 2060 Vanguard Target Inc DFE: Common/Collective Trust $3,452,350
Vanguard Target 2065 Vanguard Target Inc DFE: Common/Collective Trust $476,792
Total $542,473,700

Insurance Information

Insurance Information

Insurance Carrier Summary Persons Covered
Jpmorgan Chase Bank, N.A. 0
EIN 13-2624428
Industry Code 0000
Contract Number AMILLER-2-07
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $55,386,051
Value in Separate Accounts at Year End $0
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 GLOBAL WRAP CONTRACT
Balance at the end of the previous year $55,246,563
Additions $5,300,629
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $1,309,939
Transferred from separate account $0
Other $3,990,690
Total of Balance and Additions $60,547,192
Deductions $5,161,141
Disbursed from fund to pay benefits or purchase annuities during the year $4,654,267
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $506,874
Balance at the end of the current year $55,386,051
Transamerica Premier Life Insurance Company 0
EIN 52-0419790
Industry Code 66281
Contract Number MDA00788TR
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $38,089,841
Value in Separate Accounts at Year End $0
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 GROUP WRAP CONTRACT
Balance at the end of the previous year $40,907,051
Additions $958,480
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $958,480
Transferred from separate account $0
Other $0
Total of Balance and Additions $41,865,531
Deductions $3,775,690
Disbursed from fund to pay benefits or purchase annuities during the year $3,412,614
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $363,076
Balance at the end of the current year $38,089,841
State Street Bank & Trust Company 0
EIN 04-1867445
Industry Code 0000
Contract Number 107030
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $30,300,999
Value in Separate Accounts at Year End $0
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 GLOBAL WRAP CONTRACT
Balance at the end of the previous year $44,008,381
Additions $800,071
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $800,071
Transferred from separate account $0
Other $0
Total of Balance and Additions $44,808,452
Deductions $14,507,453
Disbursed from fund to pay benefits or purchase annuities during the year $14,161,585
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $345,868
Balance at the end of the current year $30,300,999
The Prudential Insurance Company of America 0
EIN 22-1211670
Industry Code 68241
Contract Number 063049001
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $55,387,699
Value in Separate Accounts at Year End $0
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 GLOBAL WRAP CONTRACT
Balance at the end of the previous year $58,178,478
Additions $2,584,117
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $1,363,507
Transferred from separate account $0
Other $1,220,610
Total of Balance and Additions $60,762,595
Deductions $5,374,896
Disbursed from fund to pay benefits or purchase annuities during the year $4,853,460
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $521,436
Balance at the end of the current year $55,387,699
American General Life Insurance Company 0
EIN 25-0598210
Industry Code 60488
Contract Number 1627804
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $32,545,821
Value in Separate Accounts at Year End $0
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 GLOBAL WRAP CONTRACT
Balance at the end of the previous year $34,952,983
Additions $818,974
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $818,974
Transferred from separate account $0
Other $0
Total of Balance and Additions $35,771,957
Deductions $3,226,136
Disbursed from fund to pay benefits or purchase annuities during the year $2,915,905
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $310,231
Balance at the end of the current year $32,545,821
Nationwide Life Insurance Company 0
EIN 31-4156830
Industry Code 00000
Contract Number FID_MIL_IP_1117
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $28,912,851
Value in Separate Accounts at Year End $0
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 Guaranteed Investment
Balance at the end of the previous year $31,051,311
Additions $727,553
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $727,553
Transferred from separate account $0
Other $0
Total of Balance and Additions $31,778,864
Deductions $2,866,013
Disbursed from fund to pay benefits or purchase annuities during the year $2,590,414
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $275,599
Balance at the end of the current year $28,912,851
Lincoln National Life Insurance Act 0
EIN 35-0472300
Industry Code
Contract Number BVW9943F
Contract Year 01/01/2018 — 12/31/2018
Value in General Account at Year End $10,676,585
Value in Separate Accounts at Year End $0
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 $11,462,773
Contributions Deposited during the year $0
Dividends and credits $0
Interest credited during the year $231,073
Transferred from separate account $0
Other $11,231,700
Total of Balance and Additions $11,462,773
Deductions $786,188
Disbursed from fund to pay benefits or purchase annuities during the year $741,454
Administration charge made by carrier $0
Transferred to Separate Account $0
Other $44,734
Balance at the end of the current year $10,676,585