-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VJEcgedfi64PttTRq+35MKwJo33YrnmdNQ87sCBk/lrMqVgXGFAklJa3OQCIDggx 8yjI37wBETVkQk1O6GA5Zw== 0000950109-03-003640.txt : 20030714 0000950109-03-003640.hdr.sgml : 20030714 20030714122306 ACCESSION NUMBER: 0000950109-03-003640 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20021231 FILED AS OF DATE: 20030714 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MONY GROUP INC CENTRAL INDEX KEY: 0001069822 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] IRS NUMBER: 133976138 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14603 FILM NUMBER: 03784939 BUSINESS ADDRESS: STREET 1: 1740 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2127082000 11-K 1 d11k.txt THE ADVEST THRIFT PLAN - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ---------- FORM 11-K Annual Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934 (Mark One): [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED, EFFECTIVE OCTOBER 7, 1996] For the fiscal year ended December 31, 2002 [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED] For the transition period from _____________ to ______________ Commission file number: 1-14603 A. Full title of the plan and the address of the plan, if different from that of the issuer named below: The Advest Thrift Plan B. Name of the issuer of the securities held pursuant to the plan and the address of its principal executive office: THE MONY GROUP INC. 1740 Broadway New York, New York 10019 THE ADVEST THRIFT PLAN Financial Statements and Supplemental Schedule December 31, 2002 The Advest Thrift Plan Financial Statements and Supplemental Schedule December 31, 2002 Index -----
Page ---- Report of Independent Auditors 1 Financial Statements: Statements of Net Assets Available for Plan Benefits as of December 31, 2002 and 2001 2 Statement of Changes in Net Assets Available for Plan Benefits for the year ended December 31, 2002 3 Notes to Financial Statements 4-8 Supplemental Schedule *: Schedule I - Schedule of Assets (Held at end of year) 9-16
* Other supplemental schedules required by Section 2520-103.10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 ("ERISA") have been omitted because they are not applicable. Report of Independent Auditors To the Participants and Administrative Committee of The Advest Thrift Plan In our opinion, the accompanying statements of net assets available for plan benefits and the related statement of changes in net assets available for plan benefits present fairly, in all material respects, the net assets available for plan benefits of The Advest Thrift Plan (the "Plan") at December 31, 2002 and 2001, and the changes in net assets available for plan benefits for the year ended December 31, 2002 in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of the Plan's management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with auditing standards generally accepted in the United States of America, which require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. As discussed in Note 8, effective December 31, 2002, the Lebenthal & Co., Inc. Profit Sharing Plan merged with the Plan. Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedule of assets (held at end of year) is presented for the purpose of additional analysis and is not a required part of the basic financial statements but is supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This supplemental schedule is the responsibility of the Plan's management. This supplemental schedule has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole. /s/ PricewaterhouseCoopers LLP Hartford, Connecticut July 2, 2003 The Advest Thrift Plan Statements of Net Assets Available for Plan Benefits December 31, ---------------------------- 2002 2001 ---- ---- Investments, at fair value: (see Note 4) Participant-directed $121,040,901 $132,652,114 Participant loans 3,746,694 3,116,461 ------------ ------------ Net assets available for plan benefits $124,787,595 $135,768,575 ============ ============ The accompanying notes are an integral part of these financial statements. 2 The Advest Thrift Plan Statement of Changes in Net Assets Available for Plan Benefits
Year Ended December 31, 2002 ----------------- Additions to net assets attributed to: Investment income: Net depreciation in fair value of investments (see Note 2) $ (21,656,264) Interest 480,027 Dividends 1,603,188 ------------- (19,573,049) ------------- Contributions: Participants 8,601,726 Employer, net of forfeitures 3,869,391 ------------- 12,471,117 ------------- (7,101,932) ------------- Deductions from net assets attributed to: Benefits paid to participants (12,026,824) ------------- Net decrease in net assets available for plan benefits prior to plan merger (19,128,756) Transfer of assets related to plan merger (see note 8) 8,147,776 ------------- Net decrease in net assets available for plan benefits (10,980,980) Net assets available for plan benefits: Beginning of year 135,768,575 ------------- End of year $ 124,787,595 =============
The accompanying notes are an integral part of these financial statements. 3 The Advest Thrift Plan Notes to Financial Statements ------- 1. Plan Description General The following description of The Advest Thrift Plan (the "Plan") provides only general information. Participants should refer to the Plan agreement for a more complete description of the Plan's provisions. The Plan is a defined contribution plan established October 1, 1988 by The Advest Group, Inc. to provide retirement benefits to qualified participants. The Plan was most recently amended May 28, 2003, retroactively effective November 1, 2002. On January 31, 2001, The Advest Group, Inc. was acquired by The MONY Group Inc. As used in these Notes, unless the context otherwise requires, the "Company" refers to The Advest Group, Inc. as it existed prior to the merger and to the successor entity subsequent to the merger. The Plan is administered by an Administrative Committee (the "Committee") appointed by the Company's Board of Directors and is subject to the provisions of ERISA. The Plan covers all employees of the Company and its affiliates that are scheduled to work at least 20 hours per week and who are not classified as "temporary employees" as defined in the Plan agreement. These employees become eligible to participate as of the first day of the month following their employment. These employees become eligible to receive employer contributions after one year of service. Employees that are scheduled to work less than 20 hours per week or who are classified as "temporary employees" as defined in the Plan agreement will participate and receive employer contributions only after they have completed 1000 hours of service during their initial twelve months of employment or during any subsequent calendar year. Contributions The Plan provides for both employer and voluntary employee contributions. Effective November 1, 2002, participants may contribute to the Plan an amount of not more than 25 percent of their annual compensation, to a maximum of $11,000 in the aggregate for 2002, on a pre-tax basis. Prior to November 1, 2002, participants could contribute to the Plan not less than $20 per month nor more than 15 percent of their annual compensation, up to the maximum aggregate amount for 2002. Participants direct the investment of their contributions into various investment options offered by the Plan. During 2002 the Plan offered certificates of deposit, various mutual funds, U.S. government securities and common stock of The MONY Group, Inc. ("Parent Stock") as investment options for participants. Participant contributions are recorded in the period during which the Company makes payroll deductions from the participant's earnings. Employer contribution percentages are determined by the Company's Board of Directors and are subject to the guidelines set forth in the Plan. Employer contributions to participants' accounts are allocated among participants in accordance with one of several formulas (based generally on each participant's compensation level and/or voluntary contribution) contained in the Plan. Employer contributions, if any, are recorded monthly. For the plan year ended December 31, 2002, the Company made a discretionary contribution of one and one-half percent of each participant's eligible income, and matched employee contributions dollar for dollar up to two percent of each participant's eligible income up to the Internal Revenue Service ("IRS") maximum eligible income limit. The Company's total contribution for the plan year ended December 31, 2002 was $3,869,391, which is net of forfeitures of $160,617. 4 The Advest Thrift Plan Notes to Financial Statements (Continued) Investment Options The Plan permits participating employees to direct the investment of funds in their accounts among various investment options, as described in the Plan. Investment securities are exposed to various risks, such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants' account balances and the amounts reported in the Statements of Net Assets Available for Plan Benefits. Participants may change their investment options monthly, or more frequently as permitted by the Plan Administrator. Investments in the Parent's Stock in accounts may be changed on a daily basis. Loans to Participants The Plan allows participants to borrow from their 401(k) accounts subject to approval by the Committee. Each loan for a participant must satisfy the following conditions: (1) together with other outstanding loans, it cannot exceed $50,000, reduced by the amount by which the participant's highest loan balance over the past 12 months exceeds the participant's current loan balance; (2) together with other outstanding loans, it cannot exceed 50 percent of the participant's vested Plan account value; (3) it must be for at least $500 and generate monthly repayments of at least $20; and (4) no more than two loans may be outstanding for any participant at any time. Loans must be repaid by the participants within five years. The repayment period on loans used for purchase of a primary residence may be extended for an additional five years. Interest is charged at the prime rate according to the Wall Street Journal at the date of loan (4.75% to 10.50% on outstanding loan balances during the year ended December 31, 2002). Allocation of Investment Income (Loss) Each participant's Plan account is credited with investment income or loss based upon the performance of the respective participant-directed investments. Allocation of Forfeitures Forfeitures of the Company's contributions to Plan accounts by participants that terminate employment prior to being fully vested are used to reduce the Company's total contribution to 401(k) accounts for the current year. Vesting Participants are immediately vested in their contributions plus actual earnings thereon. Vesting in the Company's match and discretionary contribution portion of their accounts plus actual earnings thereon is based on years of continuous service. A participant becomes 25 percent vested after two years of service, as defined, and in increments of 25 percent per year of service thereafter, and will be 100 percent vested after five years of service. However, if an active participant dies prior to attaining the normal retirement age, attains age 65, or becomes disabled, the participant's account becomes 100 percent vested provided that they are employed by the Company at that time. Withdrawals Participants that are less than age 70 and one-half and remain employed by the Company may elect to withdraw all or a portion of their vested 401(k) account balance only under a condition of hardship. Prior to January 1, 2001, each participant's interest in the Plan consisted of a 401(k) account and an Employee Stock Ownership Plan ("ESOP") account. Participants that are age 55 may elect to withdraw 5 The Advest Thrift Plan Notes to Financial Statements (Continued) up to 50 percent of their ESOP account balance as of December 31, 2000, reduced by the amount of any prior distributions. Benefit Payments Distributions of participants' vested Plan balance generally are paid within 120 days after the participant ceases to be an employee by reason of retirement (normal retirement is upon attaining the age of 65), death, disability or termination. The participant has the option of receiving a lump sum or installments for amounts contributed to their account through September 30, 1989. Contributions made after September 30, 1989, and earnings thereon will be distributed in a lump sum. Participants may choose to receive benefits from their Plan account in cash or in-kind. Benefit payments are recorded when paid. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested account. Plan Expenses The Plan is responsible for payment of the trustee expenses and fees; however, the Company may pay the Plan expenses directly. Transaction charges (for loan and benefit payment transactions) are paid by the Plan by reducing the balances of those participants initiating the transactions. 2. Summary of Significant Accounting Policies Basis of Presentation The financial statements of the Plan are prepared on the accrual basis of accounting. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of net assets and changes therein. Actual results could differ from those estimates. Investment Valuation and Income Recognition The investments are stated at fair value, generally based upon quoted market prices where available, and for the certificates of deposit, at principal plus accrued interest. Purchases and sales of securities are recorded on a trade date basis. Interest and dividend income are recorded on the accrual basis. The Plan presents in the Statement of Changes in Net Assets Available for Plan Benefits the net appreciation (depreciation) in the fair value of its investments which consists of the realized gains (losses) and the unrealized appreciation (depreciation) on those investments. Net appreciation (depreciation) for the year ended December 31, 2002, by investment category is as follows: Registered investment companies $(20,228,155) The MONY Group Inc. common stock (3,316,297) U.S. Government securities 1,920,601 Certificates of deposit (32,413) ------------ $(21,656,264) ============ Distribution Payable Amounts allocated to participants who have withdrawn from the Plan as of year-end, but for which disbursement of those funds has not been made by year-end, are not recognized as liabilities in the Statements of Net Assets Available for Plan Benefits. 6 The Advest Thrift Plan Notes to Financial Statements (Continued) 3. Transactions with Related Parties The Plan engages in activities with various affiliates of the Company. The common stock of The MONY Group, Inc. and shares of the Boston Advisors Money Market Funds (for which affiliates of the Company act as investment advisor and distributor) were among the investment options available during the plan years ended December 31, 2002 and 2001. Participant loans also qualify as party-in-interest transactions. In addition, personnel and facilities of the Company have been used to perform administrative functions for the Plan at no charge to the Plan. 4. Concentration of Investments The following are investments that represent 5 percent or more of net assets available for plan benefits as of December 31, 2002 and 2001:
December 31, 2002 2001 -------------------------------- Investment Fair Value Fair Value ---------- ----------- ---------- Cash $38,136,080 ** Boston Advisors Money Market Cash Reserves Fund, Cl.2, 21,694,732 and 20,681,803 shares $21,694,732 $20,681,803 The MONY Inc. Common Stock, 306,896 and 343,262 shares $7,347,088 $11,866,582 Growth Fund of America, Inc., n/a and 376,509 shares ** $8,927,036 Putnam Voyager Fund, Inc. - Cl.A, n/a and 458,774 shares ** $7,936,790 AIM Equity Funds, Inc., Constellation Fund, n/a and 337,853 shares ** $7,466,561
** These investments represented less than 5% of net assets available for plan benefits in this year. The cash balance at December 31, 2002 is the result of investments which were liquidated as a result of the transfer of recordkeeper and was subsequently used to purchase shares of the new investment options. 5. Plan Termination Although it has not expressed any intent 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 of ERISA. In the event of plan termination, participants will become 100 percent vested in their accounts. 7 The Advest Thrift Plan Notes to Financial Statements (Continued) 6. Tax Status The Internal Revenue Service has determined and informed the Company, by letter dated March 27, 2003, that the Plan and related trust are designed in accordance with applicable sections of the Internal Revenue Code ("IRC"). The Plan has been amended subsequent to the request for that letter. The Company and legal counsel are of the opinion that the Plan, as amended, is currently 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. In order to facilitate the continued tax-qualified status of the Plan, nondiscrimination testing in accordance with the IRC was completed by the plan administrator for the 2001 plan year. Nondiscrimination testing has not yet been completed for the 2002 plan year. Management is in the process of performing the testing and intends to take the appropriate steps to facilitate the continued tax qualified status of the Plan. 7. Reconciliation of Plan Financial Statements to the Form 5500 Certain balances included on Schedule H (Part I and II) of the Annual Return/Report of Employee Benefit Plan (the "Form 5500") have been reclassified for purposes of presentation in these financial statements to provide additional disclosure. 8. Plan Merger During 2001, the Company purchased Lebenthal & Co., Inc. Effective December 31, 2002, Lebenthal & Co., Inc. Profit Sharing Plan was merged with and into the Plan. With the merger, effected participants became eligible to participate in the Plan subject to the provisions of the plan agreement. 9. Subsequent Events Effective January 1, 2003, Prudential Insurance Company of America replaced ATR as recordkeeper of the Plan and Prudential Trust Services succeeded Advest, Inc. as trustee of the Plan. Effective with the changes, assets invested with Advest, Inc. were liquidated and reinvested with Prudential Trust Services. Effective January 1, 2003, a self-directed brokerage account was added as an investment option. With this option, the participant can choose from a wide range of individual equities, selected fixed income vehicles and additional mutual fund choices. Effective January 1, 2003, participants who attain age 59-1/2 may elect to withdraw all or part of their vested Plan balance. Participants that are less than age 59-1/2 and remain employed by the Company may elect to withdraw all or a portion of their vested Plan account balance only under a condition of hardship except that participants that are age 55 may elect to withdraw up to 50 percent of the balance in their ESOP account as of December 31, 2000, reduced by the amount of any prior distributions. 8 Schedule I The Advest Thrift Plan Schedule H (Line 4i) Form 5500 - Supplemental Schedule of Assets (Held at end of year) December 31, 2002 ---------- Face Value, Shares or Fair Units Description of Investments Value - -------------------------------------------------------------------------------- 38,136,080 CASH $ 38,136,080 15,546 PUTNAM US GOVT INC A 205,829 53,761 AMERICAN CENTURY GOVERNMENT 601,589 -------------- Government Funds $ 807,418 -------------- 104,743 AIM CONSTELLATION 1,741,869 83,596 AIM WEINGARTEN A 772,424 179,654 AIM VALUE FUND A 1,349,199 672 AIM GLB AGG GFDA 7,416 60,097 DREYFUS S&P500IFD 1,538,489 37,392 Eaton Vance Trad Wrldwide HeaSci 286,047 8,639 ENTERPRISE GP SMGR Y 192,731 3,398 ENTERPRISE MGD Y 18,929 74,226 ENTERPRS SM CO VAL Y 548,526 8,134 ENTERPRS GP GR PTY 115,099 8,572 UTS 1ST Trust 395PP8SACS 66,862 14,440 UTS 1ST Trust 395TP11CS 39,566 2,248 UTS 1ST Trust 353PG7CSH 17,287 5,666 UTS 1ST Trust 353TG10CSH 22,551 12,568 UTS 1ST Trust TP 12SA CS 23,251 3,388 UTS 1ST Trust PH 21,988 951 UTS 1ST Trust PP 5,744 30,476 UTS 1ST TrustTP13SACSH 50,285 3,646 UTS 1ST Trust PH 21,475 845 UTS 1ST TrustTP15 CSH 4,225 1,151 UTS 1ST Trust PHP12 CSH 7,320 104 UTS 1ST Trust DD10MAR02C 835 633 UTS 1ST Trust TP16SACSC 3,444 3,180 UTS 1ST Trust PP13SACSC 21,910 29,638 FEDERATD INTL EFA 341,139 1,031 UTS FDT10PA2002SC 9,836 18,719 GOLDMAN S IN TK FDA 89,851 191,293 GROWTH FD AMER 3,533,185 3,250 JHANCOCK FINANCIA 44,880 41,415 PILGRIM SM CAP OPP A 685,002 42,001 PILGRIM GR OPP FDA 414,554 75,560 INVESTMENT CO AM 1,774,159 22,238 J HANCOCK SM CGFA 149,664 17,649 MFS INV GRO STK FDA 162,898 9 Schedule I (continued) The Advest Thrift Plan Schedule H (Line 4i) Form 5500 - Supplemental Schedule of Assets (Held at end of year) December 31, 2002 ---------- Face Value, Shares or Fair Units Description of Investments Value - -------------------------------------------------------------------------------- 5,301 MFS INVESTORS TRUST 68,224 7,116 MUTUAL SHRS SER CLA 119,412 4,533 UTS NUV SP May 1999 15,974 3,000 UTS NUV SP Sept 1999 26,427 1,958 UTS NUV SP Sept 1999 17,395 791 UTS NUV SP Sept 1999 2,981 13,055 UTS NUV SP NOV 99 CS 33,238 8,696 UTS NUV BND MAR 00 CS DTC DEL 213 4,418 6,027 UTS NUV SPB APR 00 CS DTC DEL 213 7,612 2,184 UTS NUV EJ June 2000 15,059 31,355 UTS NUV BANDW SEPT 00 CSH DTC DEL 213 24,896 8,472 UTS NUV EN Feb 2001 63,879 5,184 UTS NUV NAS OCT 99 CS DTC DEL 213 16,972 25,789 UTS NIP100 FEB 00 CSH 55,446 16,509 UTS NUV NAS APR 00 CS DTC DEL 213 38,961 31,079 UTS NUV NASDI00CS DTC DEL 2136 Nov 2000 95,785 2,119 UTS NUV NAS SEP 01 CS 14,430 7,352 OPPENHMR MS G&IA 191,146 4,549 OPPENHEIMR G&S M 63,230 3,522 PHOENIX ENG AGG GFA 35,151 30,762 PHOENIX OKHT I&G FDA 236,869 8,014 PHOENIX OKHT S AFDA 103,545 22,007 PUTNAM AST ALO GRW A 174,299 3,147 PUTNAM A/A CNSVA 24,983 23,477 PUTNAM GLBL GRTH FD 138,749 14,915 PUTNAM OTC&EM GR FDA 75,172 154,569 PUTNAM VOYAGR FDA 1,964,572 4,645 PUTNAM VOY FDII A 56,525 2,112 SCUD GROWTH FDA 14,933 33,331 SCUD TECH FDA 249,314 15,596 SCUDDER DRM HI RET A 461,344 16,208 SELIGMAN COM INF FDA 261,752 490 SELIGMAN GROW FD INC 1,371 81,580 TEMPLETN GLOBAL SM A 447,061 59,340 VAN KAM ASIAN EQ FDA 405,887 5,072 VAN KAM EMERG G/FD A 143,340 834 UTS Van Kam FP Finl Inst Tr 7,739 573 UTS Van Kam DOW 30 3,951 4,258 UTS Van Kam FP INSTNS 3BCS 42,742 1,082 UTS Van Kam FP FI Sep 00 8,688 151 UTS Van Kam FI Nov 00 1,279 10 Schedule I (continued) The Advest Thrift Plan Schedule H (Line 4i) Form 5500 - Supplemental Schedule of Assets (Held at end of year) December 31, 2002 ---------
Face Value, Shares or Fair Units Description of Investments Value - ------------------------------------------------------------------------------------------------------------------------ 533 UTS Van Kam FP DOW 30 3,779 97 UTS Van Kam Dow30Index OCT 01 CS 811 82,745 AMERICAN CENTURY ASSET ALLOC-AGGRESSIVE 455,098 34,943 AMERICAN CENTURY ASSET ALLOC-MODERATE 183,451 38,797 AMERICAN CENTURY EQUITY GROWTH 589,323 35,953 AMERICAN CENTURY HERITAGE 327,171 36,738 AMERICAN CENTURY INCOME & GROWTH 798,677 45,206 AMERICAN CENTURY ULTRA 957,472 87,060 AMERICAN CENTURY VALUE 518,006 100 CITIGROUP INC Total 3,519 3,038 DREYFUS S & P 500 INDEX FUND Total 77,768 515 GABELLI GROWTH FUND Total 9,779 529 HARTFORD CAPITAL APPRECIATION FUND CLASS C Total 10,341 3,500 I-2 TECHNOLOGIES INC COM Total 3,955 1,288 IDEX SALOMON ALL CAP FUND CLASS B Total 13,458 505 JANUS FUND Total 9,006 644 JANUS OLYMPUS FUND Total 12,881 100 JOHNSON & JOHNSON Total 5,371 100 NASDAQ 100 TRUST Total 2,437 100 SECTOR SPDR TR SHS BEN INT ENERGY Total 2,233 100 SECTOR SPDR TR SHS BEN INT FINANCIAL Total 2,200 100 STANDARD & POORS DEPOSITARY RECEIPTS (SPDR'S)UNITS OF UNDIVIDED BENEFICIAL INTEREST Total 8,823 7,557 STRONG DOW 30 VALUE FUND Total 78,218 4 TRAVELERS PPTY CAS CORP NEW CL A Total 59 8 TRAVELERS PPTY CAS CORP NEW CL B Total 117 2,506 WILSHIRE TARGET LARGE-COMPANY GROWTH FD (INVESTOR CLASS) Total 59,118 58,006 JP MORGAN US SMALL CO 578,318 -------------- Growth Funds $ 24,528,780 -------------- 30,373 AMERICAN CENTURY DIVERSIFIED 316,790 15,382 DELAWARE GP TREND FD 217,497 444,405 FRANKLN C FD IC A 884,365 6,393 FKLN CUS FD USG A 44,748 39,828 FRANKLN STR MGT 409,032 62,672 LORD ABBETT AFF FDA 659,938 500 CITIGROUP CAP VII CAP SECS 7.125% TRUPS CALLABLE Total 13,245 10,000 DAIMLERCHRYSLER NORTH AMER HLDG CORP INTERNOTES 7.000% 04/15/12 B/E DTD 04/18/02 CLB Total 10,163 50,000 FINANCING CORP FED CPN FICO STRIPS GENERIC INT PMT 0.000% 04/06/16 REG DTD 07/07/77 Total 23,929 10,000 GENERAL MTRS ACCEP CORP SMARTNOTES 5.700% 07/15/07 B/E DTD 07/30/02 Total 10,050 15,000 GENERAL MTRS ACCEP CORP SMARTNOTES 7.000% 04/15/12 B/E DTD 04/23/02 CLB Total 15,094 11,000 GENERAL MTRS ACCEP CORP SMARTNOTES 7.000% 05/15/14 B/E DTD 05/21/02 CLB Total 11,041
11 Schedule I (continued) The Advest Thrift Plan Schedule H (Line 4i) Form 5500 - Supplemental Schedule of Assets (Held at end of year) December 31, 2002 ---------
Face Value, Shares or Fair Units Description of Investments Value - ------------------------------------------------------------------------------------------------------------------------------ 25,000 GENERAL MTRS ACCEP CORP SMARTNOTES TRANCHE # TR 00516 6.750% 04/15/12 B/E DTD 04/30/02 CLB Total 24,781 10,000 GOLDMAN SACHS GROUP INC NT 6.650% 05/15/09 B/E DTD 05/19/99 CLB Total 10,975 10,000 HOUSEHOLD FIN CORP INTERNOTES 7.100% 04/15/12 B/E DTD 04/18/02 CLB Total 10,125 4,063 SELIGMAN CAPITAL FUND INC 53,269 ------------- Income Funds $ 2,715,042 ------------- 46,845 AMERICAN CENTURY HI YIELD 278,262 64,863 BOND FUND AMER INC DIV REINV 823,756 14,618 FEDERATED FD US GV A 116,801 8,074 PILGRIM GNMA INC FDA 72,832 59,506 PILGRIM HIG YL FDIIA 388,574 91,737 LORD ABBETT BD D 659,589 46,404 MFS EMERGING GROWTH 995,368 184,411 MAINSTAY HI YLD CBA 912,833 82,132 SELIGMAN HI IC YL BD 259,538 19,504 VANGUARD BD IFD 202,455 ------------- High Yield Bond Funds $ 4,710,008 ------------- 84,933 AMERICAN CENTURY INTERNATIONAL GROWTH 541,871 2,353 ENTERPRISE ITL GR Y 24,448 329 GLOBAL KEM GB DFA 6,070 235 JANUS WORLDWIDE FUND Total 7,559 2,369 PUTNAM GBL GOV IC 28,172 6,873 PUTNAM INTL GROWTH A 112,782 129,247 TEMPLETON FRGN A 1,074,039 ------------- Foreign Funds $ 1,794,941 ------------- 25,000 HUDSON UNITED BANK CD, 5.300, 05/12/03 25,417 50,000 BANKERS TR CO CD, 1/20/06, Standard and Poor's 500, 1441.36 46,030 3,000 BANKERS TR CO CD, 2/17/06, CBOE Internet, 714.23 2,714 147,000 BANKERS TR CO CD, 8/20/08, Standard and Poor's 500, 1034.21 150,763 10,000 BANKERS TR CO CD, 4/30/08, Standard and Poor's 500, 1086.54 9,685 10,000 BANKERS TR CO CD, 2/28/06, FTSE Euorotop 100, 2816.57 9,529 50,000 BANKERS TR CO CD, 8/14/08, Standard and Poor's 500, 1062.75 48,255 14,000 BANKERS TR CO CD,5/14/04, Nikkei 225, 15123.93 13,605 12,000 BANKERS TR CO CD, 2/14/07, FTSE Eurotop 100, 2717.75 11,185 4,000 BANKERS TR CO CD, 6/24/05, Nikkei 225, 13723.84 3,750 4,000 BANKERS TR CO CD, 9/25/08, US Blue Chip Equity Basket, 100 3,312 30,000 BANKERS TR CO CD, 2/12/09, US/Japanese Equity Index, 100 24,636 10,000 BANKERS TR CO CD, 5/14/09, Standard and Poor's 500, 1337.80 8,230 10,000 BANKERS TR CO CD, 9/16/05, Dow Jones Internet, 206.29 9,766
12 Schedule I (continued) The Advest Thrift Plan Schedule H (Line 4i) Form 5500 - Supplemental Schedule of Assets (Held at end of year) December 31, 2002 ---------
Face Value, Shares or Fair Units Description of Investments Value - ------------------------------------------------------------------------------------------------------------------------------------ 21,694,732 BOSTON AD MM CS RSV2 21,694,732 1,289,327 JP MORGAN PRIME MONEY MARKET FUND 1,289,327 26,773 AMERICAN CENTURY PRIME MNY MKT Total 26,773 10,000 CHASE MAN BK CD, 5/29/08, Standard and Poor's 500, 1090.82 9,929 26,000 CHASE MAN BK CD, 6/26/08, Standard and Poor's 500, 1133.2 25,067 10,000 CHASE MAN BK CD, 9/25/08, Standard and Poor's 500, 1044.75 9,731 15,000 CHASE MAN BK CD, 9/20/05, Nikkei 225, 14194.29 13,644 25,000 CHASE MAN BK CD, 3/26/09, Standard and Poor's 500, 1282.80 20,907 90,000 CHASE MAN BK CD, 8/15/05, Nikkei 225, 16810.39 76,158 119,000 CHASE MAN BK CD,7/23/04, CBOE Internet, 484.35 105,220 65,000 CHASE MAN BK CD, 8/12/05, CBOE Internet, 411.35 54,275 20,000 CHASE MAN BK CD, 10/14/05, Standard and Poor's 500, 1247.41 19,544 25,000 CD LASALLE BANK, 4/4/07, Standard and Poor's 500, 1160.63 23,700 27,000 CD LASALLE BANK, 1/31/07, Standard and Poor's 500, 1354.95 24,921 45,000 CD LASALLE BANK, 2/14/08, NASDAQ 100, 2261.77 45,000 5,000 CD LASALLE BANK, 10/12/06, NASDAQ 100, 3311.94 4,475 10,000 CD LASALLE BANK, 5/15/08, Standard and Poor's 500, 1054.99 10,000 2,000 CD LASALLE BANK, 7/10/08, Standard and Poor's 500, 989.03 2,000 10,000 CD LASALLE BANK, 7/31/08, Standard and Poor's 500, 852.84 10,000 50,000 MICHIGAN NATL BK CD, 5/30/07, Standard and Poor's 500, 1277.89 46,450 20,000 CONSECO BK INC SALT LAKE CITY UTAH CTF DEP ACT/365 FDIC INSD 4.300% 07/31/07 B/E DTD 07/31/02 Total 20,000 10,000 CD STANDARD FSB, 6/2/08, Standard and Poor's 500, 1074.55 10,000 ------------- Cash Funds, Money Market, & CD's $ 23,908,730 ------------- 272,000 TSY BILLS, 0.000, 01/13/03 271,867 330,000 TSY BILLS, 0.000, 01/23/03 329,759 550,000 TSY BILLS, 0.000, 01/30/03 549,461 997,000 TSY BILLS, 0.000, 02/06/03 995,834 50,000 TSY BILLS, 0.000, 02/13/03 49,930 104,000 TSY BILLS, 0.000, 02/20/03 103,832 281,000 TSY BILLS, 0.000, 02/27/03 280,483 818,000 TSY BILLS, 0.000, 03/20/03 815,939 150,000 TSY BILLS, 0.000, 05/08/03 149,360 200,000 TSY BILLS, 0.000, 05/15/03 199,108 47,000 TSY BILLS, 8.375, 08/15/08 50,499 50,000 TSY BILLS, 7.250, 05/15/16 64,495 150,000 TSY BILLS, 3.875, 04/15/29 203,501 30,000 TSY BILLS, 6.625, 05/15/07 35,270 100,000 TSY BILLS, 3.625, 01/15/08 124,794 85,000 TSY BILLS, 5.750, 04/30/03 87,077 10,000 TSY BILLS, 5.625, 05/15/08 11,419
13 Schedule I (continued) The Advest Thrift Plan Schedule H (Line 4i) Form 5500 - Supplemental Schedule of Assets (Held at end of year) December 31, 2002 ---------
Face Value, Shares or Fair Units Description of Investments Value - ------------------------------------------------------------------------------------------------------------------------------------ 20,000 TSY BILLS, 5.500, 05/31/03 20,442 37,000 TSY BILLS, 5.250, 08/15/03 38,659 102,000 TSY BILLS, 4.250, 11/15/03 105,200 25,000 TSY BILLS, 4.750, 11/15/08 27,441 80,000 TSY BILLS, 3.875, 01/15/09 100,006 67,000 TSY BILLS, 4.750, 02/15/04 70,819 68,000 TSY BILLS, 5.250, 05/15/04 72,090 50,000 TSY BILLS, 5.500, 05/15/09 57,086 30,000 TSY BILLS, 6.000, 08/15/04 32,893 20,000 TSY BILLS, 6.000, 08/15/09 23,710 40,000 TSY BILLS, 5.875, 11/15/04 43,500 30,000 TSY BILLS, 4.250, 01/15/10 37,460 7,000 TSY BILLS, 6.500, 02/15/10 8,539 29,000 TSY BILLS, 6.750, 05/15/05 32,585 51,000 TSY BILLS, 3.500, 01/15/11 59,142 42,000 TSY BILLS, 4.750, 01/31/03 42,949 110,000 TSY BILLS, 5.000, 02/15/11 122,940 5,000 TSY BILLS, 4.250, 03/31/03 5,091 40,000 TSY BILLS, 4.625, 05/15/06 43,374 94,000 TSY BILLS, 3.875, 06/30/03 95,244 30,000 TSY BILLS, 3.875, 07/31/03 30,944 40,000 TSY BILLS, 5.000, 08/15/11 44,618 37,000 TSY BILLS, 2.750, 09/30/03 37,685 85,000 TSY BILLS, 3.500, 11/15/06 88,834 56,000 TSY BILLS, 3.000, 11/30/03 57,037 12,000 TSY BILLS, 3.250, 12/31/03 12,240 5,000 TSY BILLS, 3.375, 01/15/12 5,658 10,000 TSY BILLS, 4.875, 02/15/12 11,044 50,000 TSY BILLS, 6.250, 02/15/03 51,478 100,000 TSY BILLS, 5.750, 08/15/03 104,953 25,000 TSY BILLS, 5.875, 02/15/04 26,844 71,000 TSY BILLS, 7.250, 05/15/04 77,360 20,000 TSY BILLS, 7.250, 08/15/04 22,423 5,000 TSY BILLS, 7.875, 11/15/04 5,633 5,000 TSY BILLS, 7.500, 02/15/05 5,748 15,000 TSY BILLS, 6.500, 05/15/05 16,775 20,000 TSY BILLS, 5.875, 11/15/05 22,331 5,000 TSY BILLS, 5.620, 02/15/06 5,644 230,000 TSY BILLS, 6.875, 05/15/06 266,665 4,000 US TSY NOTES CP JJ 7.00, 07/15/06 4,767 150,000 US TSY NOTES CP AO 3.37, 04/30/04 154,925
14 Schedule I (continued) The Advest Thrift Plan Schedule H (Line 4i) Form 5500 - Supplemental Schedule of Assets (Held at end of year) December 31, 2002 ---------
Face Value, Shares or Fair Units Description of Investments Value - -------------------------------------------------------------------------------- 35,000 US TSY NOTES CP MN 4.37, 05/15/07 37,777 20,000 US TSY NOTES CP MN 3.25, 05/31/04 20,585 15,000 US TSY IP CP JJ 3.00, 07/15/12 16,282 100,000 US TSY NOTES CP JJ 2.25, 07/31/04 102,250 10,000 US TSY NOTES CP FA 4.37, 08/15/12 10,618 150,000 US TSY NOTES CP MN 3.00, 11/15/07 152,396 30,000 US TSY STRIP INT CP 0.000, 02/15/03 29,952 126,000 US TSY STRIP INT CP 0.000, 08/15/03 125,027 66,000 US TSY STRIP INT CP 0.000, 02/15/04 65,112 688,000 US TSY STRIP INT CP 0.00, 08/15/04 672,389 106,000 US TSY STRIP INT CP 0.000, 02/15/05 102,259 148,000 US TSY STRIP INT CP 0.00, 08/15/05 140,767 48,000 US TSY STRIP INT CP 0.000, 02/15/06 44,844 126,000 US TSY STRIP INT CP 0.000, 08/15/06 116,066 52,000 US TSY STRIP INT CP 0.000, 02/15/07 46,804 73,000 US TSY STRIP INT CP 0.00, 08/15/07 64,430 23,000 US TSY STRIP INT CP 0.000, 02/15/08 19,796 228,000 US TSY STRIP INT CP 0.00, 08/15/08 192,108 25,000 US TSY STRIP INT CP 0.000, 02/15/09 20,423 588,000 US TSY STRIP INT CP 0.00, 08/15/09 468,812 206,000 US TSY STRIP INT CP 0.000, 02/15/10 158,550 841,000 US TSY STRIP INT CP 0.000, 08/15/10 631,700 39,000 US TSY STRIP INT CP 0.000, 02/15/11 28,340 1,245,000 US TSY STRIP INT CP 0.000, 08/15/11 882,593 160,000 US TSY STRIP INT CP 0.00, 02/15/12 110,000 154,000 US TSY STRIP INT CP 0.00, 08/15/12 102,846 515,000 US TSY STRIP INT CP 0.000, 02/15/13 332,814 81,000 US TSY STRIP INT CP 0.00, 08/15/13 50,804 20,000 US TSY STRIP INT CP 0.000, 02/15/14 12,126 236,000 US TSY STRIP INT CP 0.00, 08/15/14 138,636 30,000 US TSY STRIP INT CP 0.00, 02/15/15 17,082 80,000 US TSY STRIP INT CP 0.000, 05/15/04 78,504 75,000 US TSY STRIP INT CP 0.00, 05/15/05 71,828 696,000 US TSY STRIP INT CP 0.00, 08/15/15 383,412 6,000 US TSY STRIP INT CP 0.00, 05/15/11 4,296 15,000 US TSY STRIP INT CP 0.000, 11/15/15 8,125 177,000 US TSY STRIP INT CP 0.00, 02/15/16 94,378 180,000 US TSY STRIP INT CP 00.00, 08/15/16 92,714 48,000 US TSY STRIP INT CP 0.00, 02/15/17 23,930 231,000 US TSY STRIP INT CP 0.00, 08/15/17 111,564 75,000 US TSY STRIP INT CP 0.00, 02/15/18 35,071
15 Schedule I (continued) The Advest Thrift Plan Schedule H (Line 4i) Form 5500 - Supplemental Schedule of Assets (Held at end of year) December 31, 2002 ---------
Face Value, Shares or Fair Units Description of Investments Value - ------------------------------------------------------------------------------ 1,315,000 US TSY STRIP INT CP 00.00, 08/15/18 596,024 65,000 US TSY STRIP INT CP FA 00.00, 02/15/19 28,455 1,462,000 US TSY STRIP INT CP 0.000, 08/15/19 619,800 207,000 US TSY STRIP INT CP 00.00, 02/15/20 85,091 1,063,000 US TSY STRIP INT CP 00.00, 08/15/20 423,584 100,000 US TSY STRIP INT CP 0.000, 02/15/21 38,616 762,000 US TSY STRIP INT CP 0.000, 08/15/21 286,108 100,000 US TSY STRIP INT CP 0.000, 02/15/22 36,437 12,000 US TSY STRIP INT CP 00.00, 08/15/22 4,258 100,000 US TSY STRIP INT CP 0.000, 02/15/23 34,495 26,000 US TSY STRIP INT CP 0.000, 08/15/23 8,735 100,000 US TSY STRIP INT CP 00.00, 02/15/24 32,584 16,000 US TSY STRIP INT CP 00.00, 08/15/24 5,066 5,000 UTS VAN KAM FP DOW30 IND 35,860 ------------- U.S. Treasury Obligations $ 14,468,527 ------------- 306,896 MONY GROUP INC 7,347,088 ------------- Company Stock $ 7,347,088 ------------- 23,934 AMERI BALANCED FUND INC 345,133 441 AMERICAN CENTURY ASSET ALLOC-CONSERVATIVE 2,137 7,501 AMERICAN CENTURY BALANCED 97,816 2,218 PILGRIM BAL FUND A 23,622 21,604 PHOENIX OKTH BFDA 276,319 14,777 PUTNAM A/A BAL A 123,531 124,168 PUTNAM FD GRTH&INC A 1,755,729 ------------- Balanced Funds $ 2,624,287 ------------- Loans to Participants (4.75%-10.50%) $ 3,746,694 ------------- Total Investments $ 124,787,595 =============
16 Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the Plan) have duly caused this Annual Report to be signed by the undersigned hereunto duly authorized. THE ADVEST THRIFT PLAN Date: July 14, 2003 /s/ Allen G. Botwinick ------------------------------- Allen G. Botwinick Chairman - Benefit Plan Administration Committee EX-99.1 3 dex991.txt CERTIFICATION EXHIBIT 99.1 CERTIFICATION Each of the undersigned hereby certifies, for the purposes of Section 1350 of Chapter 63 of Title 18 of the United States Code, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, in his or her capacity as an officer of The Advest Group, Inc. ("Advest"), that, to his or her knowledge, the Annual Report for The Advest Thrift Plan on Form 11-K for the period ended December 31, 2002, fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that the information contained in such report fairly presents, in all material respects the net assets available for benefits and changes in net assets available for benefits of the Plan. This written statement is being furnished to the Securities and Exchange Commission as an exhibit to such Form 11-K. A signed original of this statement has been provided to Advest and will be retained by Advest and furnished to the Securities and Exchange Commission or its staff upon request. Date: July 14, 2003 By:/s/ Grant W. Kurtz ------------------ Grant W. Kurtz Chief Executive Officer Date: July 14, 2003 By:/s/ Donna L. Sawan ------------------ Donna L. Sawan Executive Vice President, Chief Financial Officer and Principal Accounting Officer -----END PRIVACY-ENHANCED MESSAGE-----