|
x
|
ANNUAL
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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|
FOR
THE FISCAL YEAR ENDED DECEMBER 31,
2007
|
|
p
|
TRANSITION
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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|
FOR
THE TRANSITION PERIOD FROM _______________ TO
_______________
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Page(s)
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|
REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
|
3
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|
FINANCIAL
STATEMENTS AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2007
AND 2006: |
|
|
Statements
of Net Assets Available for Benefits
|
4
|
|
Statements
of Changes in Net Assets Available for Benefits
|
5
|
|
Notes
to Financial Statements
|
6-11
|
|
SUPPLEMENTAL
SCHEDULE AS OF DECEMBER 31, 2007:
|
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|
Form
5500, Schedule H, Part IV, Line 4i - Schedule of Assets (Held at End of
Year)
|
12
|
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SIGNATURES
|
13
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|
INDEX
TO EXHIBITS
|
14
|
|
2007
|
2006
|
||
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ASSETS:
|
|||
|
Participant-directed
investments, at fair value:
|
|||
|
Mutual
funds
|
$ 189,735,150
|
$ 154,163,242
|
|
|
Vanguard
Retirement Savings Trust II
|
50,959,949
|
-
|
|
|
Vanguard
Retirement Savings Trust III
|
-
|
50,803,693
|
|
|
Sun
Life Financial Inc. Stock Fund
|
10,529,362
|
6,788,663
|
|
|
Assets
held in Self-Managed Accounts
|
1,825,794
|
-
|
|
|
Participant
loans
|
3,332,882
|
3,033,937
|
|
|
Cash
|
447,483
|
297,379
|
|
|
Total
investments
|
256,830,620
|
215,086,914
|
|
|
Contributions
receivable
|
427,594
|
249,824
|
|
|
NET
ASSETS AVAILABLE FOR BENEFITS AT FAIR VALUE
|
257,258,214
|
215,336,738
|
|
|
Adjustment
from fair value to contract value for fully
benefit-responsive
investment contract
|
(474,592)
|
488,866
|
|
|
NET
ASSETS AVAILABLE FOR BENEFITS
|
$ 256,783,622
|
$ 215,825,604
|
|
|
See
notes to financial statements.
|
|
2007
|
2006
|
||
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ADDITIONS:
|
|||
|
Investment
activity:
|
|||
|
Net
(depreciation) appreciation in fair value of investments
|
$ (218,124)
|
$ 9,001,959
|
|
|
Interest
|
2,418,661
|
2,405,007
|
|
|
Dividends
|
15,662,429
|
7,345,079
|
|
|
Total
investment activity
|
17,862,966
|
18,752,045
|
|
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Contributions:
|
|||
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Employer
|
19,489,990
|
16,636,625
|
|
|
Participants
|
19,521,392
|
16,313,621
|
|
|
Participant
rollovers
|
4,307,212
|
2,245,345
|
|
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Total
contributions
|
43,318,594
|
35,195,591
|
|
|
Total
additions
|
61,181,560
|
53,947,636
|
|
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DEDUCTIONS:
|
|||
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Benefits
paid directly to participants
|
20,223,542
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19,952,855
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Purchase
of annuity contract
|
-
|
148,936
|
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Total
deductions
|
20,223,542
|
20,101,791
|
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NET
INCREASE
|
40,958,018
|
33,845,845
|
|
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NET
ASSETS AVAILABLE FOR BENEFITS:
|
|||
|
Beginning
of year
|
215,825,604
|
181,979,759
|
|
|
End
of year
|
$ 256,783,622
|
$ 215,825,604
|
|
|
See
notes to financial statements.
|
|
1.
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DESCRIPTION
OF THE PLAN
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|
The
following brief description of the Sun Life Assurance Company of Canada
(U.S.) United States Employees' Sun Advantage Savings and Investment Plan
(the "Plan") is provided for general information purposes
only. Participants should refer to the Plan document for a more
complete description of the Plan's provisions.
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|
General
- The Plan was originally established on April 1, 1986 by Sun Life
Assurance Company of Canada (the "Corporation") for the benefit of its
U.S. employees and the U.S. employees of its subsidiaries that elected to
become participating employers under the Plan. The purpose of
the Plan is to permit eligible employees of the Corporation and
participating employers to defer and receive employer-matching
contributions in order to provide funds for employees in the event of
death, disability, unemployment and retirement. Any employee,
21 years or older, is eligible to become a participant in the Plan as soon
as administratively feasible after his or her first day of
employment. The Plan is subject to the provisions of the
Employee Retirement Income Security Act of 1974
("ERISA").
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|
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Effective
January 1, 2002, the Corporation transferred sponsorship of the United
States Employees' Sun Advantage Savings and Investment Plan to its then
wholly-owned subsidiary Sun Life Assurance Company of Canada (U.S.) (the
"Company" or "Plan Sponsor").
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|
On
January 1, 2006 the Plan was amended and restated to establish a
Retirement Investment Account (“RIA”) for the participants of the Plan,
including certain participants of the United States Employees' Retirement
Income Plan ("Defined Benefit Plan") whose benefits under the Defined
Benefit Plan were frozen as of December 31, 2005. The
participants of the Plan will now have future additional employer
contributions made to the Plan as discussed below.
|
|
|
Effective
May 31, 2007, eligible employees who transferred as part of Sun Life
Financial Inc.’s acquisition of Genworth Financial, Inc.’s U.S. Employee
Benefits Group were credited with prior Genworth service for the purpose
of vesting in the Plan and for RIA credited service used in calculating
RIA contributions under the Plan.
|
|
|
Effective
August 29, 2007, the Plan was amended to include a Self-Managed Account
for participants who desire to actively manage and select external
investments through the use of a brokerage account.
|
|
|
Effective
November 7, 2007, Independent Financial Marketing Group, Inc. (“IFMG”)
ceased to be an Affiliated Employer under the Plan because of the
acquisition of IFMG's capital stock by LPL Holdings, Inc. As of that date,
the Plan was amended to allow IFMG to continue as a participating
employer. As of November 7, 2007, there were ninety-two active IFMG
participants in the Plan with net assets available for benefits of
$4,035,260.
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Contributions
- Once an employee becomes eligible to participate in the Plan, he or she
may elect to become a participant in the 401(k) account by entering into a
salary reduction agreement. The agreement provides that the
participant agrees to accept a reduction in compensation in an amount
equal to 1% to 60% of his or her compensation. During 2002, the
Plan adopted Age 50 Catch Up Contributions as a result of the Economic
Growth and Tax Relief Reconciliation Act of 2001. Contributions
are subject to certain Internal Revenue Code (“IRC”) limitations.
Participants also may contribute amounts representing distributions from
other qualified defined benefit or defined contribution
plans.
|
|
|
Participating
employers contribute an amount equal to 50% of the first six percent of
compensation that a participant contributes to the 401(k)
Plan.
|
|
|
The
Company also contributes to the RIA a percentage of participant’s eligible
compensation as determined per the following chart based on the sum of the
participant’s age and service on January 1 of the applicable plan
year–
|
|
Age Plus
Service
|
Company
Contribution
|
|
Less
than 40
|
3%
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|
At
least 40 but less than 55
|
5%
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|
At
least 55
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7%
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|
For
RIA participants who are at least age 40 on January 1, 2006 and whose age
plus service on January 1, 2006 equals or exceeds 45, the Company also
contributes to the RIA from January 1, 2006 through December 31, 2015, a
percentage of the participant’s eligible compensation as determined per
the following chart based on the participant’s age and service on January
1, 2006 –
|
|
Service
|
||
|
Age
|
Less than 5
years
|
5 or more
years
|
|
At
least 40 but less than 43
|
3.0%
|
5.0%
|
|
At
least 43 but less than 45
|
3.5%
|
5.5%
|
|
At
least 45
|
4.5%
|
6.5%
|
|
For
RIA participants who did not become participants in the Defined Benefit
Plan before January 1, 2006, the Company made a one-time RIA contribution
in January 2006 based on the applicable percentage from the first chart
above as of January 1, 2006 and their eligible compensation paid during
the period beginning on their hire date and ending on December 31,
2005.
|
|
|
Participant
Accounts - Individual accounts are maintained for each Plan
participant. Each participant's account is credited with the
participant's contribution, the participating employer's matching
contribution, and allocations of Plan earnings, and charged with an
allocation of Plan losses and investment related
expenses. Allocations are based on participant earnings or
account balances, as defined in the Plan document. The benefit
to which a participant is entitled is the benefit that can be provided
from the participant's vested account.
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|
|
Investments
- Participants direct the investment of their contributions into
various investment options offered by the Plan. Participant
selections of one or more of the investment options must be in multiples
of 1%. Participating employer matching contributions are invested in
accordance with participant investment allocations. The Plan
currently offers several mutual funds, the Sun Life Financial Inc. Stock
Fund (a party-in-interest), a Self-Managed Account and a stable value fund
as investment options for participants.
|
|
|
Vesting
- Participants are vested immediately in their contributions plus actual
earnings thereon. Vesting in the participating employer's
contribution portion of their accounts is based on years of continuous
service. A participant vests at the rate of 20 percent per year
of credited service and is 100 percent vested after five years of credited
service. A participant is fully vested in his or her share of the
participating employer contributions upon retirement at normal retirement
age or older, disability, or death, regardless of the length of
service.
|
|
|
Participant
Loans - A participant may borrow up to 50% of his or her vested
account balance with a minimum loan balance of $1,000 and a maximum loan
balance of $50,000. Repayment is effected through payroll
deductions over a period of one to five years for non-mortgage loans and
over a period of one to 15 years for mortgage loans. Loan
repayments are credited against investments, as allocated in the
participant's account. The loans are secured by the balance in
the participant's account and bear interest at local prevailing rates at
the time funds are borrowed. At December 31, 2007 interest rates range
from 4% to 8.5%. Maturity dates are through August 31,
2022.
|
|
|
Payment of
Benefits - The Plan provides for normal retirement benefits to be
paid to participants who have reached the age of 65. If the
participant's service with the participating employer terminates, other
than by reason of retirement, the participant may elect to receive his or
her distribution following his or her termination of
employment. Distributions will be made in installments or in a
lump sum, except if the participant's account balance is $5,000 or less,
in which case payment will only be made in a lump sum.
|
|
|
Forfeitures
- In the event that a participant terminates service prior to completing
five years with the participating employer, the nonvested portion of his
or her account will be forfeited. At December 31, 2007 and 2006
forfeited nonvested accounts totaled $47,490 and $1,069,269,
respectively. These accounts will be used to reduce future
participating employer matching contributions. Employer
contributions were reduced by $2,330,245 and $3,279,046 from forfeited
nonvested accounts for the years ended December 31, 2007 and 2006,
respectively.
|
|
|
2.
|
SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES
|
|
Basis of
Accounting - The financial statements of the Plan are prepared in
accordance with accounting principles generally accepted in the United
States of America.
|
|
|
Use of
Estimates - The preparation of financial statements in conformity
with accounting principles generally accepted in the United States of
America requires the Plan Administrator to make estimates and assumptions
that affect the reported amounts of net assets available for benefits and
changes therein. Actual results could differ from those
estimates.
|
|
|
Risks and
Uncertainties - The Plan invests in various investment instruments,
including mutual funds, collective trusts, and
stocks. Investment securities in general, are exposed to
various risks, such as interest rate, credit, and market
risk. Due to the level of risk associated with certain
investments, it is reasonably possible that changes in the values of
investments will occur in the near term and that such changes could
materially affect the amounts reported in the financial
statements.
|
|
|
Investment
Valuation and Income Recognition - The Plan's investments are
stated at fair value. Shares of mutual funds are valued at quoted market
prices which represent the net asset value of shares held by the Plan at
year end. Common stock is valued at quoted market prices.
Assets held in the Self-Managed Accounts are stated at fair value based on
quoted market prices of the assets held in the accounts. Common collective
trust funds are stated at fair value as determined by the issuer of the
common collective trust funds based on the fair market value of the
underlying investments. Common collective trusts with underlying
investments in investment contracts are valued at fair market value of the
underlying investments and then adjusted by the issuer to contract
value. Participant loans are stated at the outstanding loan
balances.
|
|
|
During
2007, the Vanguard Retirement Savings Trust III stable value fund was
replaced by the Vanguard Retirement Savings Trust II which is also a
stable value fund but with lower expenses. The fund may invest
in fixed interest insurance investment contracts, money market funds,
corporate and government bonds, mortgage-backed securities, bond funds,
and other fixed income securities. Participants may ordinarily
direct the withdrawal or transfer of all or a portion of their investment
at contract value. Contract value represents contributions made
to the fund, plus earnings, less participant
withdrawals.
|
|
|
Purchases
and sales of securities are recorded on the trade-date
basis. Interest income is recorded on the accrual
basis. Dividends are recorded on the ex-dividend
date.
|
|
|
Management
fees and operating expenses charged to the Plan for investments in mutual
funds are deducted from income earned on a daily basis and are not
separately reflected. Consequently, management fees and
operating expenses are reflected as a reduction of investment return for
such investments.
|
|
|
The
financial statements reflect the retroactive adoption of Financial
Accounting Standards Board Staff Position, FSP Nos. AAG INV-1 and SOP
94-4-1, Reporting of
Fully Benefit-Responsive Contracts Held by Certain Investment Companies
Subject to the AICPA Investment Company Guide and Defined-Contribution
Health and Welfare and Pension Plans (the “FSP”). As
required by the FSP, the statements of net assets available for
benefits presents investment contracts at fair value with an
adjustment shown separately to adjust fully benefit-responsive contracts
from fair value to contract value. The statements of changes in net
assets available for benefits are presented on a contract value basis and
were not affected by the adoption of the FSP. The adoption of the FSP
did not impact the amount of net assets available for benefits at
December 31, 2007 or 2006.
|
|
| New Accounting Guidance - In September 2006, the Financial Accounting Standards Board (FASB) issued Financial Accounting Standard No. 157, Fair Value Measurements (“SFAS No. 157”). SFAS No. 157 defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles, and expands disclosures about fair value measurements. The provisions of SFAS No. 157 are effective for fiscal years beginning after November 15, 2007. The Plan will adopt SFAS No. 157 effective January 1, 2008 and will apply the provisions of the statement prospectively to assets and liabilities measured and disclosed at fair value. The Plan’s management is evaluating the impact SFAS No. 157 will have on the Plan’s financial statements. | |
| In February 2007, the FASB issued Financial Accounting Standard No. 159, The Fair Value Option for Financial Assets and Financial Liabilities (“SFAS No. 159”) which permits entities to choose to measure many financial assets and financial liabilities at fair value. The objective is to improve financial reporting by providing entities with the opportunity to mitigate volatility in reporting earnings caused by measuring related assets and liabilities differently without having to apply complex hedge accounting provisions. The Plan did not elect the fair value option for eligible items that had not previously been required to be measured at fair value as of January 1, 2008. | |
|
Payment of
Benefits - Benefit payments to participants are recorded upon
distribution.
|
|
|
Administrative
Expenses - Administrative expenses of the Plan are paid by the Plan
Sponsor except for certain fees which are paid by the participants. These
fees include loan fees, advisory fees, and fund redemption fees. For the
years ended December 31, 2007 and 2006 these fees which totaled $46,772
and $12,049, respectively are included in benefits paid directly to
participants.
|
|
|
Excess
Contributions Payable - The Plan is required to return
contributions received during the Plan year in excess of IRC
limits.
|
|
|
3.
|
PLAN
ADMINISTRATOR AND TRUSTEE
|
|
The
U.S. Benefit Plans Committee (the "Committee") is the named Plan
Administrator of the Plan. At December 31, 2007, the Committee
consisted of seven members: Janet V. Whitehouse, Keith Gubbay,
Robert J. De Clercq, John T. Donnelly, Teresa A. Vellante Ham, Philip G.
Malek and Michael E. Shunney. State Street Bank and Trust
Company is the named Trustee of the Sun Life Assurance Company of Canada
(U.S.) United States Employees' Sun Advantage Savings and Investment
Trust.
|
|
|
4.
|
FEDERAL
INCOME TAX STATUS
|
|
The
Plan obtained its latest determination letter dated October 29, 2002, in
which the Internal Revenue Service stated that the Plan and related trust
as then designed were in compliance with the applicable regulations of the
IRC. The Plan has been amended since receiving the
determination letter. However, the Committee believes that the
Plan is currently designed and being operated in compliance with the
applicable requirements of the IRC. Therefore, no provision for
income taxes has been included in the Plan's financial
statements.
|
|
|
5.
|
PLAN
TERMINATION
|
|
Although
it has not expressed any intention to do so, the Company has the right
under the Plan to discontinue its contributions at any time and to
terminate the Plan subject to the provisions set forth in
ERISA. In the event that the Plan is terminated, participants
would become 100 percent vested in their accounts.
|
|
|
6.
|
INVESTMENTS
|
|
The
Plan's investments that represented 5% or more of the fair value of the
Plan's net assets available for benefits as of December 31 were as
follows:
|
|
|
2007
|
2006
|
|
|
Mutual
funds:
|
|||
|
MFS
Massachusetts Investors Growth Stock Fund
|
$
13,485,369
|
$ -
|
|
|
MFS
Growth Opportunities Fund
|
-
|
12,355,104
|
|
|
MFS
Total Return Fund
|
18,167,292
|
16,401,768
|
|
|
Fidelity
Blue Chip Growth Fund
|
21,142,522
|
18,693,228
|
|
|
JP
Morgan Capital Growth Fund
|
16,701,706
|
13,688,431
|
|
|
T
Rowe Price International Stock Fund
|
13,944,712
|
-
|
|
|
Vanguard
Institutional Index
|
27,620,458
|
-
|
|
|
Vanguard
500 Index Fund Shares
|
-
|
22,418,109
|
|
|
T.
Rowe Price Mid-Cap Value Fund
|
12,109,659
|
-
|
|
|
Fidelity
Advisor Diversified International
|
17,121,437
|
11,982,673
|
|
|
Common
collective trust:
|
|||
|
Vanguard
Retirement Savings Trust II
|
50,959,949
|
-
|
|
|
Vanguard
Retirement Savings Trust III
|
-
|
50,803,693
|
|
During
2007 and 2006, the Plan's investments (including gains and losses on
investments bought and sold, as well as held, during the year)
(depreciated) appreciated in value by ($218,124) and $9,001,959,
respectively, as follows:
|
|
Fund
Name
|
Investment
Type
|
2007
|
2006
|
||
|
Vanguard
Retirement Savings Trust III
|
Stable
Value
|
$ (27,668)
|
$ 25,953
|
||
|
Vanguard
Retirement Savings Trust II
|
Stable
Value
|
(46,421)
|
-
|
||
|
Vanguard
Total Market Bond Index (Institutional)
Shares |
Fixed
Income
|
181,231
|
9,076
|
||
|
Vanguard
Total Market Bond Index (Admiral)
Shares
|
Fixed
Income
|
(26,975)
|
-
|
||
|
MFS
Government Securities Fund
|
Fixed
Income
|
95,774
|
(42,086)
|
||
|
MFS
High Income Fund
|
Fixed
Income
|
(344,017)
|
139,351
|
||
|
MFS
Total Return Fund
|
Balanced
|
(1,058,180)
|
843,580
|
||
|
T.
Rowe Price Equity Income Fund
|
Equity
|
(485,071)
|
712,711
|
||
|
Vanguard
500 Index Fund Shares
|
Equity
|
253,898
|
2,331,919
|
||
|
Vanguard
Institutional Index
|
Equity
|
585,248
|
-
|
||
|
Selected
American Shares
|
Equity
|
162,671
|
437,806
|
||
|
Fidelity
Blue Chip Growth Fund
|
Equity
|
(67,620)
|
494,743
|
||
|
MFS
Growth Opportunities Fund
|
Equity
|
787,895
|
748,589
|
||
|
MFS
Massachusetts Investors Growth Stock
Fund
|
Equity
|
508,473
|
-
|
||
|
T.
Rowe Price Mid-Cap Value Fund
|
Equity
|
(1,526,324)
|
418,123
|
||
|
JP
Morgan Capital Growth Fund
|
Equity
|
613,460
|
312,735
|
||
|
Fidelity
Low-Priced Stock Fund
|
Equity
|
(393,064)
|
487,847
|
||
|
Fidelity
Small Cap Value Fund
|
Equity
|
(746,889)
|
45,393
|
||
|
Vanguard
Growth Fund Index
|
Equity
|
(7,288)
|
-
|
||
|
Self-Managed
Accounts
|
Equity
|
(64,884)
|
-
|
||
|
Fidelity
Advisor Diversified International
|
International
Equity
|
(899,097)
|
472,408
|
||
|
T.
Rowe Price International Stock Fund
|
International
Equity
|
(138,011)
|
1,225,586
|
||
|
Sun
Life Financial Inc. Stock Fund
|
Common
Stock
|
2,424,735
|
338,225
|
||
|
Total
|
$ (218,124)
|
$ 9,001,959
|
|
7.
|
EXEMPT
PARTY-IN-INTEREST
|
|
An
affiliate of the Plan Sponsor manages several mutual fund investment
options within the Plan. These investments include MFS
Massachusetts Investors Growth Stock Fund, MFS High Income Fund, MFS
Government Securities Fund and MFS Total Return Fund, each of which is an
investment company registered under the Investment Company Act of 1940.
Investment advisory fees are paid from the funds to the
affiliate.
|
|
|
At
December 31, 2007 and 2006, the Plan held 188,226 and 160,299 shares,
respectively, of common stock of Sun Life Financial Inc., an affiliate of
the Plan Sponsor, with cost bases of $6,692,629 and $5,163,273,
respectively. During the years ended December 31, 2007 and
2006, the Plan recorded dividend income from such securities of $148,776
and $117,616, respectively. These transactions qualified as
permitted party-in-interest transactions.
|
|
|
8.
|
RECONCILIATION
OF FINANCIAL STATEMENTS TO FORM 5500
|
|
The
following is a reconciliation of total investments per the financial
statements to the Form 5500 as of December 31, 2007 and
2006.
|
|
2007
|
2006
|
|||
|
Total
investments, at fair value, per the financial statements
|
$ 256,830,620
|
$ 215,086,914
|
||
|
Adjustment
from fair value to contract value for fully
|
||||
|
benefit-responsive
investment contract
|
(474,592)
|
488,866
|
||
|
Total
investments per Form 5500
|
$ 256,356,028
|
$ 215,575,780
|
|
SUN
LIFE ASSURANCE COMPANY OF CANADA (U.S.)
|
|||||
|
UNITED
STATES EMPLOYEES' SUN ADVANTAGE
|
|||||
|
SAVINGS
AND INVESTMENT PLAN
|
|||||
|
FORM
5500, SCHEDULE H, PART IV, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF
YEAR)
|
|||||
|
DECEMBER
31, 2007
|
|||||
|
(a)
|
(b)
Identity of Issue,
|
(c)
Description of Investment,
|
(d) Cost**
|
(e)
Current
|
|
|
Borrower,
Lessor
|
Including
Collateral, Rate
|
Value
|
|||
|
or
Similar Party
|
of
Interest, Maturity Date,
|
||||
|
Par
or Maturity Value
|
|||||
|
Vanguard
|
Vanguard
Retirement Savings Trust II -
|
||||
|
50,485,357 shares
|
50,959,949
|
||||
|
Mutual
funds:
|
|||||
|
*
|
Massachusetts
Financial Services
|
MFS High Income Fund -
|
|||
|
1,520,076.542 shares
|
5,578,681
|
||||
|
MFS Government Securities Fund -
|
|||||
|
455,017.922
shares
|
4,386,373
|
||||
|
MFS Total Return Fund -
|
|||||
|
1,192,079.542
shares
|
18,167,292
|
||||
|
MFS
Massachusetts Investors Growth Stock Fund -
|
|||||
|
879,671.847
shares
|
13,485,369
|
||||
|
Fidelity
Investments
|
Fidelity Blue Chip Growth Fund -
|
||||
|
479,857.502 shares
|
21,142,522
|
||||
|
Fidelity Low-Priced Stock Fund -
|
|||||
|
182,757.997 shares
|
7,516,836
|
||||
|
Fidelity
Small Cap Value Fund -
|
|||||
|
461,553.420
shares
|
8,044,876
|
||||
|
Fidelity
Advisor Diversified International -
|
|||||
|
771,583.492
shares
|
17,121,437
|
||||
|
Vanguard
|
Vanguard
Growth Index Fund
|
||||
|
14,895.877 shares
|
458,346
|
||||
|
Vanguard
Institutional Index -
|
|||||
|
205,907.695 shares
|
27,620,458
|
||||
|
Vanguard Total Market Bond Index
-
|
|||||
|
880,004.231 shares
|
8,940,843
|
||||
|
JP
Morgan
|
JP Morgan Capital Growth Fund -
|
||||
|
398,608.727 shares
|
16,701,706
|
||||
|
T.
Rowe Price
|
T.
Rowe Price International Stock Fund -
|
||||
|
832,520.102 shares
|
13,944,712
|
||||
|
T.
Rowe Price Equity Income Fund -
|
|||||
|
314,411.071 shares
|
8,834,951
|
||||
|
T.
Rowe Price Mid-Cap Value Fund -
|
|||||
|
539,165.569
shares
|
12,109,659
|
||||
|
Selected
American Shares
|
Selected
American Shares -
|
||||
|
118,900.984
shares
|
5,681,089
|
||||
|
Total
Mutual Fund
|
189,735,150
|
||||
|
Self-Managed
Accounts
|
Self-Managed
Accounts -
|
1,825,794
|
|||
|
*
|
Sun
Life Financial
|
Sun
Life Financial Inc. Stock Fund -
|
|||
|
188,226
shares
|
10,529,362
|
||||
|
*
|
Plan
participants
|
Loans
to participants, secured by underlying
|
|||
|
participant
account balances, interest rates
|
|||||
|
from
4.00% to 8.50%, maturity dates through 2022
|
3,332,882
|
||||
|
State
Street
|
Cash
- State Street Research Short Term
Investment Fund - 447,483 shares |
447,483 |
|||
|
Total
investments at fair value
|
256,830,620
|
||||
|
Adjustment
from fair value to contract value for fully
benefit-responsive investment contract |
(474,592) |
||||
|
TOTAL
INVESTMENTS PER FORM 5500
|
$256,356,028
|
||||
|
UNITED STATES
EMPLOYEES' SUN ADVANTAGE
|
|
|
SAVINGS AND INVESTMENT
PLAN
|
|
|
(Name
of Plan)
|
|
|
By:
/s/
Robert J. De Clercq
|
|
|
Robert
J. De Clercq
|
|
|
Member,
U.S. Benefit Plans Committee
|
|
|
Exhibit
Number
|
Description
|
|
23
|
Consent
of Independent Registered Public Accounting
Firm
|