-----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, WjaTemr/tf/TmHAPC9ya9iNGZXbagw1ahMgU8N+hW3IJFncdyS1loliOtd9901tQ Wz9XXYa4Qe5AiRbyl2Y7mg== 0000948572-03-000047.txt : 20030626 0000948572-03-000047.hdr.sgml : 20030626 20030626111112 ACCESSION NUMBER: 0000948572-03-000047 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20030626 FILED AS OF DATE: 20030626 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AON CORP CENTRAL INDEX KEY: 0000315293 STANDARD INDUSTRIAL CLASSIFICATION: ACCIDENT & HEALTH INSURANCE [6321] IRS NUMBER: 363051915 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07933 FILM NUMBER: 03757819 BUSINESS ADDRESS: STREET 1: 200 EAST RANDOLPH STREET CITY: CHICAGO STATE: IL ZIP: 60601 BUSINESS PHONE: 3123811000 MAIL ADDRESS: STREET 1: 200 EAST RANDOLPH STREET CITY: CHICAGO STATE: IL ZIP: 60601 FORMER COMPANY: FORMER CONFORMED NAME: COMBINED INTERNATIONAL CORP DATE OF NAME CHANGE: 19870504 11-K 1 b11k062603.txt AON CORPORATION SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 11-K __X__ Annual Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2002 OR _____ Transition Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934 A. Full title of the plan and the address of the plan, if different from the issuer named below: Aon Savings Plan B. Name of the issuer of the securities held pursuant to the plan and the address of its principal executive office: Aon Corporation 200 E. Randolph Drive Chicago, Illinois 60601 S I G N A T U R E S Pursuant to the requirements of the Securities Exchange Act of 1934, the Plan, by the Plan Administrator, the Committee, has caused this annual report to be signed on its behalf by the undersigned, thereunto duly authorized, in the County of Cook and the State of Illinois on the 25th day of June, 2003. AON SAVINGS PLAN BY THE COMMITTEE /s/ THOMAS STACHURA /s/ JOHN A. RESCHKE - ------------------- -------------------- Thomas Stachura John A. Reschke - 2 - FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULE AON SAVINGS PLAN Years Ended December 31, 2002 and 2001 With Report of Independent Auditors Employer Identification Number 36-3051915 Plan # 020 AON SAVINGS PLAN FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULE Years ended December 31, 2002 and 2001 CONTENTS Report of Independent Auditors 1 Financial Statements Statement of Assets Available for Benefits at December 31, 2002 2 Statement of Assets Available for Benefits at December 31, 2001 3 Statement of Changes in Assets Available for Benefits for the year ended December 31, 2002 4 Statement of Changes in Assets Available for Benefits for the year ended December 31, 2001 5 Notes to Financial Statements 6 Supplemental Schedule: Schedule H, Line 4i - Schedule of Assets (Held At End of Year) 13 Report of Independent Auditors The Participants and Administrative Committee Aon Savings Plan We have audited the accompanying statements of assets available for benefits of Aon Savings Plan as of December 31, 2002 and 2001, and the related statements of changes in assets available for benefits for the years then ended. 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 in accordance with auditing standards generally accepted in the United States. Those standards 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. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the assets available for benefits of the Plan at December 31, 2002 and 2001, and the changes in its assets available for benefits for the years then ended, in conformity with accounting principles generally accepted in the United States. Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The accompanying supplemental schedule of assets (held at end of year) as of December 31, 2002, is presented for purposes of additional analysis and is not a required part of the 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. The supplemental schedule has been subjected to the auditing procedures applied in our 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. June 4, 2003 Ernst & Young LLP Chicago, Illinois - 1 -
Employer Plan Identification # 36-3051915 Plan # 020 AON SAVINGS PLAN STATEMENT OF ASSETS AVAILABLE FOR BENEFITS DECEMBER 31, 2002 (in thousands) ------------------------------------------------------ ESOP SAVINGS ALLOCATED ASSETS: PLAN ACCOUNT TOTAL ------ ---------------- ---------------- -------------- Investments, at Fair Value: Aon Corporation Common Stock $ 144,755 $ 110,361 $ 255,116 Brokerage Accounts-Other Common and Preferred Stocks and Mutual Funds 4,917 - 4,917 Investments held in Mutual Funds: AIM Liquid Asset Fund 248,777 - 248,777 Vanguard REIT Index Fund 32,568 - 32,568 Vanguard Admiral Intermediate Term Treasury Fund 85,778 - 85,778 INVESCO Dynamics Fund 16,124 - 16,124 Dodge & Cox Common Stock Fund 50,682 - 50,682 PIMCO Total Return Fund 31,799 - 31,799 Montag & Caldwell Growth Fund 7,595 - 7,595 Managers Special Equity Fund 13,666 - 13,666 Templeton Emerging Markets Fund 2,916 - 2,916 Investments held in Collective Trusts: INVESCO Asset Allocation Fund 117,128 - 117,128 INVESCO 500 Index Fund 171,542 - 171,542 INVESCO International Equity Fund 28,247 - 28,247 Short-Term Investment Funds 1,499 - 1,499 Participant Loans 18,957 - 18,957 ---------------- ---------------- -------------- 976,950 110,361 1,087,311 Company Contribution Receivable 30,437 17,760 48,197 ---------------- ---------------- -------------- ASSETS AVAILABLE FOR BENEFITS $ 1,007,387 $ 128,121 $ 1,135,508 ================ ================ ==============
See notes to financial statements. - 2 -
Employer Plan Identification # 36-3051915 Plan # 020 AON SAVINGS PLAN STATEMENT OF ASSETS AVAILABLE FOR BENEFITS DECEMBER 31, 2001 (in thousands) ------------------------------------------------------ ESOP SAVINGS ALLOCATED ASSETS: PLAN ACCOUNT TOTAL ------- ---------------- ---------------- -------------- Investments, at Fair Value: Aon Corporation Common Stock $ 262,108 $ 202,435 $ 464,543 Brokerage Accounts-Other Common and Preferred Stocks and Mutual Funds 6,200 - 6,200 Investments held in Mutual Funds: Aon Money Market Fund 264,987 - 264,987 Aon Government Securities Fund 49,054 - 49,054 Aon Asset Allocation Fund 136,943 - 136,943 Vanguard REIT Index Fund 26,084 - 26,084 Vanguard Admiral Intermediate Term Treasury Fund 12,401 - 12,401 INVESCO Dynamics Fund 21,024 - 21,024 Dodge & Cox Common Stock Fund 31,868 - 31,868 PIMCO Total Return Fund 14,638 - 14,638 Montag & Caldwell Growth Fund 7,387 - 7,387 Managers Special Equity Fund 13,151 - 13,151 Templeton Emerging Markets Fund 936 - 936 Investments held in Collective Trusts: INVESCO 500 Index Fund 236,815 - 236,815 INVESCO Core-Balanced Fund 3,773 - 3,773 INVESCO International Equity Fund 32,212 - 32,212 Short-Term Investment Funds 1,626 - 1,626 Participant Loans 19,269 - 19,269 ---------------- ---------------- -------------- 1,140,476 202,435 1,342,911 Company Contribution Receivable 26,402 16,257 42,659 ---------------- ---------------- -------------- ASSETS AVAILABLE FOR BENEFITS $ 1,166,878 $ 218,692 $ 1,385,570 ================ ================ ==============
See notes to financial statements. - 3 -
Employer Plan Identification # 36-3051915 Plan #020 AON SAVINGS PLAN STATEMENT OF CHANGES IN ASSETS AVAILABLE FOR BENEFITS YEAR ENDED DECEMBER 31, 2002 (in thousands) ------------------------------------------------------------------------ ESOP SAVINGS ALLOCATED PLAN ACCOUNT TOTAL -------------- -------------- -------------- NET INVESTMENT INCOME (LOSS) Interest Income $ 1,529 $ 1 $ 1,530 Net Realized and Unrealized Depreciation in Fair Value of Investments (204,840) (97,587) (302,427) Aon Corporation Dividends 5,933 4,788 10,721 Other Dividends 15,603 - 15,603 Management and Administrative Fees (1,891) (136) (2,027) -------------- -------------- -------------- TOTAL NET INVESTMENT LOSS (183,666) (92,934) (276,600) CONTRIBUTIONS Company 30,437 17,760 48,197 Participants 86,106 - 86,106 Rollovers 11,172 - 11,172 -------------- -------------- -------------- TOTAL CONTRIBUTIONS 127,715 17,760 145,475 ALLOCATIONS ESOP Diversification 1,352 (1,352) - -------------- -------------- -------------- TOTAL ALLOCATIONS 1,352 (1,352) - OTHER CHANGES Benefit Payments (106,506) (14,045) (120,551) Plan Mergers 1,614 - 1,614 -------------- -------------- -------------- TOTAL OTHER CHANGES (104,892) (14,045) (118,937) -------------- -------------- -------------- NET DECREASE IN ASSETS AVAILABLE FOR BENEFITS (159,491) (90,571) (250,062) ASSETS AVAILABLE FOR BENEFITS AT BEGINNING OF YEAR 1,166,878 218,692 1,385,570 -------------- -------------- -------------- ASSETS AVAILABLE FOR BENEFITS AT END OF YEAR $ 1,007,387 $ 128,121 $ 1,135,508 ============== ============== ==============
See notes to financial statements. - 4 -
Employer Plan Identification # 36-3051915 Plan #020 AON SAVINGS PLAN STATEMENT OF CHANGES IN ASSETS AVAILABLE FOR BENEFITS YEAR ENDED DECEMBER 31, 2001 (in thousands) ------------------------------------------------------------------------ ESOP SAVINGS ALLOCATED PLAN ACCOUNT TOTAL -------------- -------------- -------------- NET INVESTMENT INCOME (LOSS) Interest Income $ 1,760 $ 2 $ 1,762 Net Realized and Unrealized Appreciation (Depreciation) in Fair Value of Investments (53,748) 6,396 (47,352) Aon Corporation Dividends 7,231 5,212 12,443 Other Dividends 18,464 - 18,464 Management and Administrative Fees (1,817) (162) (1,979) -------------- -------------- -------------- TOTAL NET INVESTMENT INCOME (LOSS) (28,110) 11,448 (16,662) CONTRIBUTIONS Company 26,402 16,257 42,659 Participants 75,186 - 75,186 Rollovers 15,045 - 15,045 -------------- -------------- -------------- TOTAL CONTRIBUTIONS 116,633 16,257 132,890 ALLOCATIONS ESOP Diversification 493 (493) - -------------- -------------- -------------- TOTAL ALLOCATIONS 493 (493) - OTHER CHANGES Benefit Payments (120,094) (23,062) (143,156) Plan Mergers 13,820 - 13,820 -------------- -------------- -------------- TOTAL OTHER CHANGES (106,274) (23,062) (129,336) -------------- -------------- -------------- NET INCREASE (DECREASE) IN ASSETS AVAILABLE FOR BENEFITS (17,258) 4,150 (13,108) ASSETS AVAILABLE FOR BENEFITS AT BEGINNING OF YEAR 1,184,136 214,542 1,398,678 -------------- -------------- -------------- ASSETS AVAILABLE FOR BENEFITS AT END OF YEAR $ 1,166,878 $ 218,692 $ 1,385,570 ============== ============== ==============
See notes to financial statements. - 5 - Employer Plan Identification # 36-3051915 Plan # 020 AON SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS Years Ended December 31, 2002 and 2001 1. DESCRIPTION OF PLAN GENERAL The Aon Savings Plan (the Plan) was authorized by the Board of Directors of Aon Corporation (the Company or Plan Sponsor). It is a defined contribution plan with a salary deferral feature and an employee stock ownership (ESOP) feature. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). Effective January 1, 2002, participants in the ASI Solutions, Inc. 401(k) Retirement Plan (ASI Plan) became eligible to participate in the Plan. Effective January 1, 2002, the FESC Employees Savings Plan (FESC Plan) merged into the Plan and as a result, assets approximating $1.6 million were transferred into the Plan. Effective August 1, 2001, participants in the McLagan Partners Inc. 401(k) Profit Sharing Plan (McLagan Plan) became eligible to participate in the Plan. Effective March 31, 2001, the ASA Savings Plan merged into the Plan and as a result, assets approximating $13.8 million were transferred into the Plan. Certain Plan assets are held by the Aon Funds, an affiliated, open-end management investment company. Assets in the Aon Funds were liquidated in 2002. The assets of the ESOP portion of the Plan are invested primarily in common stock of the Company. Additionally, certain assets are invested by the Trustees as deemed advisable in order for the Plan to meet its cash flow needs. The following description of the Plan provides only general information. Participants of the Plan should refer to the Summary Plan Description for a more complete description of the Plan. ELIGIBILITY AND PARTICIPATION Employees other than field sales agents or employees scheduled to work less than 20 hours per week are immediately eligible to participate. Field sales agents and employees scheduled to work less than 20 hours per week are eligible to participate after completing one year of service. Participants must complete one year of service to be eligible for company matching contributions. - 6 - 1. DESCRIPTION OF PLAN (CONTINUED) CONTRIBUTIONS PARTICIPANT - Participant contributions are made by means of regular payroll deductions. Non-highly compensated participants, as defined by the Internal Revenue Code (IRC), may elect to make contributions between 1% and 16% of their compensation, as defined by the Plan. Highly compensated participants, as defined by the IRC, may elect to make contributions between 1% and 8% of their compensation, as defined by the Plan. Participant contributions are limited to amounts allowed by the Internal Revenue Service (IRS). Accordingly, the maximum participant contribution was $11,000 in 2002 and $10,500 in 2001. In addition to regular participant contributions, catch-up contributions of up to $1,000 were allowed in 2002 for any participants who were age 50 or older during the Plan year. COMPANY - The Company contributes an amount equal to 100% of the first 3% of a participant's compensation that a participant contributes to the Plan (75% of a participant's compensation up to 4% for employees of Aon Human Capital Services, LLC in 2002). The Company makes a further contribution to the ESOP portion of the Plan equal to 75% (50% for field sales agents) of the next 3% of a participant's compensation that is contributed to the Plan. In 2002 and 2001, the ESOP contribution was made in shares of common stock of the Company. Employees of Aon Human Capital Services, LLC are not eligible for this contribution in 2002. The Plan requires that a participant be actively employed as of the last day of the Plan year and they must have been employed for one year in order to receive a Company contribution. Contributions to the ESOP portion of the Plan are automatically invested in common stock of the Company. INVESTMENT OPTIONS Contributions to the Plan, other than for the ESOP portion, may be invested in any of the various investment alternatives offered by the Plan in any whole percentages. Additionally, a Self-Managed Account is offered whereby participants can invest their self-directed contributions in various stock, mutual funds and other investments. PARTICIPANT ACCOUNTS Each participant's account is credited with the participant's contribution and allocations of a) the Company's contributions, b) Plan earnings(losses), and c) forfeitures of terminated participants' non-vested accounts. The benefit to which a participant is entitled is the benefit that can be provided from the participant's account. - 7 - 1. DESCRIPTION OF PLAN (CONTINUED) VESTING For the ESOP portion of the Plan, a participant vests in 20% increments per year and becomes 100% vested after completion of five years of plan service. Forfeitures of non-vested accounts are allocated to the remaining participants. In 2002, forfeitures are only allocated to those participants who received a company contribution. The amount of forfeitures allocated to participants was $432,000 and $673,000 of the Company's common stock in 2002 and 2001, respectively. For the non-ESOP portion of the Plan, participants are fully vested in their contributions plus actual earnings thereon. Participants become 100% vested in the remainder of their account balance after five years of plan service, according to a graded schedule. Forfeitures of non-vested accounts are allocated to the remaining participants. The amount of forfeitures allocated to participants was $617,000 and $833,000 for 2002 and 2001, respectively. BENEFIT PAYMENTS For the ESOP portion of the Plan, a participant's entire account shall be paid to the participant or designated beneficiary in a lump sum upon normal retirement, permanent disability or death. The participant may elect payment in the form of Company common stock or cash. For the non-ESOP portion, on termination of service, a participant may elect to receive either a lump sum amount equal to the value of his or her account or monthly installments over a period not to exceed ten years. 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% vested in their accounts. PARTICIPANT LOANS Under the loan provision of the Plan, each participant is permitted one loan in a twelve month period and the outstanding balance of all loans made to a participant may not exceed the lesser of $50,000 or 50% of the vested portion of the participant's account, excluding the ESOP portion of the account. The interest rate for each loan is equal to 1% plus the prime rate as quoted in The Wall Street Journal for the last ------------------------- day of the month preceding the loan request. Loans are made for a period of up to five years, except for residential loans that have a fixed repayment period of ten years. - 8 - 2. SIGNIFICANT ACCOUNTING POLICIES BASIS OF ACCOUNTING The financial statements of the Plan are prepared on an accrual basis in accordance with accounting principles generally accepted in the United States. INVESTMENT VALUATION AND INCOME RECOGNITION Investments are carried at fair value, which for marketable securities is based on quotations obtained from national securities exchanges and various other sources. Participant loans are valued at their outstanding balances which approximates fair value. Interest income is recorded as earned. Dividend income is recorded on the ex-dividend date. Realized gains or losses on investments are the difference between the proceeds received and the cost of investments sold as determined on a first-in, first-out basis. The change in the difference between fair value and the cost of investments is reported as unrealized appreciation or depreciation of investments. ADMINISTRATIVE EXPENSES Administrative expenses of the Plan, including expenses of the Trustees, are paid from the Plan assets, except to the extent that the Company, at its discretion, may decide to pay such expenses. The Company did not pay any Plan expenses in 2002 or 2001. USE OF ESTIMATES The preparation of the financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. RECLASSIFICATIONS Certain amounts in the 2001 financial statements have been reclassified to conform with the 2002 presentation. 3. INVESTMENTS Institutional Trust Company (ITC) is custodian of the Plan assets and Trustee for all Plan assets except the ESOP shares. For the ESOP shares, State Street Bank and Trust Company is the Trustee. The Trustees are named fiduciaries under ERISA. As used herein, Trustee refers to the ITC and State Street Bank and Trust Company individually and collectively. - 9 - 3. INVESTMENTS (CONTINUED) During 2002 and 2001 the Plan's investments (including investments bought, sold and held during the year) appreciated (depreciated) in fair value as follows (in thousands):
December 31 2002 2001 -------------------------------------------------------------------- Net Realized Net Realized and Unrealized and Unrealized Appreciation Appreciation (Depreciation) (Depreciation) in Fair Value in Fair Value of Investments of Investments Fair During Fair During Value the Year Value the Year -------------------------------------------------------------------- Investments, at fair value: Aon Corporation Common Stock $ 255,116 $ (215,483) $ 464,543 $ 20,634 Brokerage Accounts-Other Common and Preferred Stocks and Mutual Funds 4,917 (2,298) 6,200 (1,790) Investments in Mutual Funds: Aon Money Market Fund - - 264,987 - Aon Government Securities Fund - 1,618 49,054 (163) Aon Asset Allocation Fund - (4,877) 136,943 (19,660) Aon REIT Index Fund - - - 1,645 AIM Liquid Asset Fund 248,777 - - - Vanguard REIT Index Fund 32,568 (1,430) 26,084 595 INVESCO Dynamics Fund 16,124 (8,044) 21,024 (7,776) Dodge & Cox Stock Fund 50,682 (7,024) 31,868 316 PIMCO Total Return Fund 31,799 284 14,638 (168) Montag & Caldwell Growth Fund 7,595 (2,151) 7,387 (375) Managers Special Equity Fund 13,666 (3,992) 13,151 (734) Templeton Emerging Markets Fund 2,916 (326) 936 (56) Vanguard Admiral Intermediate Term Treasury Fund 85,778 1,443 12,401 52 Investments in Collective Trusts INVESCO Asset Allocation Fund 117,128 (3,644) - - INVESCO 500 Index Fund 171,542 (52,658) 236,815 (33,867) INVESCO Core-Balanced Fund - (550) 3,773 (169) INVESCO International Equity Fund 28,247 (3,295) 32,212 (5,836) Short-Term Investment Funds 1,499 - 1,626 - -------------------------------------------------------------------- Total $ 1,068,354 $ (302,427) $ 1,323,642 $ (47,352) --------------------------------------------------------------------
- 10 - 3. INVESTMENTS (CONTINUED) The fair value of individual investments that represent 5% or more of the Plan's assets is as follows (in thousands):
December 31 ------------------------------------ 2002 2001 ---- ---- Aon Corporation, Common Stock $ 255,116* $ 464,899* Investments held in Mutual Funds: Aon Money Market Fund - 264,987 AIM Liquid Asset Fund 248,777 - Aon Asset Allocation Fund - 136,943 Vanguard Admiral Intermediate Term Treasury Fund 85,778 ** Investments in Collective Trusts: INVESCO 500 Index Fund 171,542 236,815 INVESCO Asset Allocation Fund 117,128 - *Includes $110,361 and $202,435 of non-participant directed investments in 2002 and 2001, respectively. **Below 5% threshold.
4. INCOME TAX STATUS The Plan has received a determination letter from the IRS dated April 10, 1995, stating that the Plan is qualified under section 401(a) of the IRC and, therefore, the related trust is exempt from taxation. Subsequent to this issuance of the determination letter, the Plan was amended and restated. Once qualified, the Plan is required to operate in conformity with the IRC to maintain its qualification. The Plan Administrative Committee believes the Plan is being operated in compliance with the applicable requirements of the IRC and, therefore, believes that the Plan, as amended, is qualified and the related trust is tax exempt. 5. SUBSEQUENT EVENTS Effective January 1, 2003, the Aon Common Stock Fund and the ESOP Fund were merged into a single fund called the Aon Common Stock ESOP. Participants have the option to reinvest dividends in additional shares of Aon Stock in the Plan or receive dividends in cash. Additionally, effective January 1, 2003, participants are allowed to immediately diversify any company matching contributions allocated to the Aon Common Stock ESOP Fund. As a result, the ESOP Allocated Account is no longer considered a non-participant directed investment. - 11 - 5. SUBSEQUENT EVENTS (CONTINUED) On January 1, 2003, the ASI Plan and the McLagan Plan were merged into the Plan and as a result, assets approximating $3.2 million and $2.9, respectively, were transferred into the Plan. - 12 -
Employer Identification # 36-3051915 Plan # 020 AON SAVINGS PLAN Schedule H, Line 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) December 31, 2002 Number of Shares Current Value ---------------- Identity of Issuer Principal Amount (thousands) - ------------------------------------------------------------------------------------------------------------------ AON COMMON STOCK FUND - --------------------- COMMON STOCK Aon Corporation Common Stock, 1.00 par* 7,677,592 $ 144,568 ============== MONEY MARKET FUND - ----------------- MUTUAL FUND Investments held in the AIM Liquid Asset Fund 248,777,408 $ 248,777 ============== TOTAL RETURN FUND - ----------------- COLLECTIVE TRUST Investments held in the INVESCO Asset Allocation Fund* 12,075,097 $ 117,128 ============== COMMON STOCK INDEX FUND - ----------------------- COLLECTIVE TRUST Investments held in the INVESCO 500 Index Fund* 7,890,595 $ 171,542 ============== REAL ESTATE SECURITIES FUND - --------------------------- MUTUAL FUND Investments held in the Vanguard REIT Index Fund 2,750,713 $ 32,568 ==============
- 13 -
Employer Identification # 36-3051915 Plan # 020 AON SAVINGS PLAN Schedule H, Line 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) December 31, 2002 (continued) Number of Shares Current Value ---------------- Identity of Issuer Principal Amount (thousands) - ------------------------------------------------------------------------------------------------------------------ INVESCO DYNAMICS FUND - --------------------- MUTUAL FUND Investments held in the INVESCO Dynamics Fund* 1,512,539 $ 16,124 ============== DODGE & COX COMMON STOCK FUND - ----------------------------- MUTUAL FUND Investments held in the Dodge & Cox Common Stock Fund 575,601 $ 50,682 ============== PIMCO TOTAL RETURN FUND - ----------------------- MUTUAL FUND Investments held in the PIMCO Total Return Fund 2,980,263 $ 31,799 ============== MONTAG & CALDWELL GROWTH FUND - ----------------------------- MUTUAL FUND Investments held in the Montag & Caldwell Growth Fund 405,268 $ 7,595 ============== MANAGERS SPECIAL EQUITY FUND - ---------------------------- MUTUAL FUND Investments held in the Managers Special Equity Fund 248,109 $ 13,666 ==============
- 14 -
Employer Identification # 36-3051915 Plan # 020 AON SAVINGS PLAN Schedule H, Line 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) December 31, 2002 (continued) Number of Shares Cost Current Value ---------------- ---- Identity of Issuer Principal Amount (thousands) (thousands) - ------------------------------------------------------------------------------------------------------------------ TEMPLETON EMERGING MARKETS FUND - ------------------------------- MUTUAL FUND Investments held in the Templeton Emerging Markets Fund 359,995 $ 2,916 ============== VANGUARD ADMIRAL INTERMEDIATE TERM - ---------------------------------- TREASURY FUND ------------- MUTUAL FUND Investments held in the Vanguard Admiral Intermediate Term Treasury Fund 7,275,535 $ 85,778 ============== INVESCO INTERNATIONAL EQUITY FUND - --------------------------------- COLLECTIVE TRUST Investments held in the INVESCO International Equity Fund* 1,757,753 $ 28,247 ============== ESOP ALLOCATED FUND - -------------------- COMMON STOCK Aon Corporation Common Stock, 1.00 par* 5,726,374 $ 89,864 $ 110,361 ============= ============== OTHER COMMON AND PREFERRED STOCKS AND MUTUAL FUNDS (SELF-MANAGED FUNDS) - ----------------------------------------------------------------------- BROKERAGE ACCOUNTS Investments held in other common and preferred stocks and mutual funds and other investments 4,916,865 $ 4,917 ============== Investments held in Aon Corporation Common Stock* 9,913 $ 187 ==============
- 15 -
Employer Identification # 36-3051915 Plan # 020 AON SAVINGS PLAN Schedule H, Line 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR) December 31, 2002 (continued) Number of Shares Current Value ---------------- Identity of Issuer Principal Amount (thousands) - ------------------------------------------------------------------------------------------------------------------ Investment held in the State Street Short-Term Investment Fund 1,498,625 $ 1,499 ============== PARTICIPANT LOANS (5.25%-10.5%) - $ 18,957 ============== $ 1,087,311 ==============
*Party in interest transaction not prohibited by ERISA. - 16 - EX-23 3 exh23.txt AON CORPORATION CONSENT OF INDEPENDENT AUDITORS We consent to the incorporation by reference in the Registration Statements (Form S-8 No. 33-27894) pertaining to the Aon Savings Plan of Aon Corporation of our report dated June 4, 2003, with respect to the financial statements and schedule of the Aon Savings Plan included in this annual report (Form 11-K) for the year ended December 31, 2002. June 24, 2003 Ernst & Young LLP Chicago, Illinois EX-99 4 exh99.txt AON CORPORATION Exhibit 99 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 capacity as an officer of Aon Corporation (Aon), that, to his knowledge, the Annual Report for the Aon Savings Plan on Form 11-K for the period ended December 31, 2002, fully complies with the requirements of Section 13(a) 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 Aon and will be retained by Aon and furnished to the Securities and Exchange Commission or its staff upon request. Date: June 25, 2003 By: /s/John A. Reschke John A. Reschke Administrative Committee of the Aon Savings Plan /s/Michael A. Conway Michael A. Conway Investment Committee of the Aon Savings Plan -----END PRIVACY-ENHANCED MESSAGE-----