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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, 2000
[ ] 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:
Investment Plan Supplement for
Employees and Field Underwriters of
MONY Life Insurance Company
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
REQUIRED INFORMATION
Page(s)
------
Independent Auditors' Report 1
Financial Statements:
Statements of Net Assets Available for Benefits
as of December 31, 2000 and 1999 2
Statement of Changes in Net Assets Available for
Benefits for the year ended December 31, 2000 3
Notes to Financial Statements 4-15
Supplemental Schedules*:
Schedule of Assets (Held at End of Year)
as of December 31, 2000 16
Schedule of Series of Reportable Transactions for the
year ended December 31, 2000 17
* All other schedules required by the Department of
Labor's Rules and Regulations for Reporting and
Disclosure under the Employee Retirement Security
Act of 1974 have been omitted because there is no
information to report.
Exhibit
Exhibit 23 - Consent of Independent Public Accountants 18
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.
INVESTMENT PLAN SUPPLEMENT FOR
EMPLOYEES AND FIELD
UNDERWRITERS OF MONY LIFE
INSURANCE COMPANY
Date: February 25, 2002 /s/ Robert M. Beecroft
-------------------------------
Name: Robert M. Beecroft
Title: Secretary -
Benefit Plan
Administration Committee
INDEPENDENT AUDITOR'S REPORT
----------
To the Benefits Committee of the Board of Directors of
the Investment Plan Supplement for Employees and
Field Underwriters of MONY Life Insurance Company:
We have audited the accompanying statements of net assets available for benefits
of the INVESTMENT PLAN SUPPLEMENT for EMPLOYEES and FIELD UNDERWRITERS of MONY
LIFE INSURANCE COMPANY (the "Plan") as of December 31, 2000 and 1999 and the
related statement of changes in net assets available for benefits for the year
ended December 31, 2000. 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 audit.
We conducted our audits in accordance with auditing standards generally accepted
in the United States of America. 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 that 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 net assets available for benefits of the Plan as of
December 31, 2000 and 1999 and the changes in net assets available for benefits
for the year ended December 31, 2000, in conformity with accounting principles
generally accepted in the United States of America.
Our audit was performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of assets
(held at end of year) as of December 31, 2000 and series of reportable
transactions for the year ended December 31, 2000 are presented for the purpose
of additional analysis and are 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. These supplemental schedules are the
responsibility of the Plan's management. The supplemental schedules have been
subjected to the auditing procedures applied in the audits of the basic
financial statements and, in our opinion, are fairly stated in all material
respects in relation to the basic financial statements taken as a whole.
/s/ Mitchell & Titus, LLP
New York, New York
October 25, 2001
INVESTMENT PLAN SUPPLEMENT For EMPLOYEES And FIELD
UNDERWRITERS Of MONY LIFEINSURANCE COMPANY
Statements of Net Assets Available for Benefits
As of December 31,
ASSETS
2000 1999
---------------- -----------------
Investments, at fair value:
MONY's Pooled Accounts $ 301,419,745 $ 337,200,968
MONY's Guaranteed Interest Contracts 31,851,571 34,364,961
Mutual Funds 62,756,620 65,058,552
Common Stock Fund 5,834,719 -
----------------- ------------------
401,862,655 436,624,481
Participants' Loans 13,514,083 15,925,556
----------------- ------------------
Net assets available for
benefits $ 415,376,738 $ 452,550,037
================= ==================
The accompanying notes are an integral part of these financial statements.
2
INVESTMENT PLAN SUPPLEMENT for EMPLOYEES and FIELD
UNDERWRITERS of MONY LIFE INSURANCE COMPANY
STATEMENT of CHANGES in NET ASSETS AVAILABLE for BENEFITS
For the year ended December 31, 2000
-------
Net Assets Available for Benefits, $452,550,037
beginning of year --------------
Additions:
Participants' Contributions 13,643,676
MONY's Contributions 5,977,905
Net Change in the Fair Value of Investments
in MONY's Pooled Accounts, Mutual Funds
and Common Stock Fund 2,062,172
Interest Income 5,990,810
--------------
Total Additions 27,674,563
--------------
Deductions:
Participant Benefits 64,217,629
Administrative Fees 630,233
--------------
Total Deductions 64,847,862
--------------
Net Decrease (37,173,299)
--------------
Net Assets Available for Benefits,
end of year $415,376,738
==============
The accompanying notes are an integral part of these financial statements.
3
INVESTMENT PLAN SUPPLEMENT for EMPLOYEES and
FIELD UNDERWRITERS of MONY LIFE INSURANCE COMPANY
NOTES to FINANCIAL STATEMENTS
As of December 31, 2000 and 1999
-------
1. Description of the Plan:
The following description is provided for general information purposes
only. Participants should refer to the plan document for complete
information.
A. General
The Investment Plan Supplement for Employees and Field Underwriters of
MONY Life Insurance Company (the "Plan") is a defined-contribution
profit-sharing plan, with a 401(k) feature, providing for
contributions from the employer, MONY Life Insurance Company ("MONY"
or the "Company"), and from participating employees and Field
Underwriters. All Plan contributions are placed in the MONY Investment
Plan and Retirement Plan Trust (the "Trust").
The assets of the Plan are invested in the following funds
administered through the Trust: The Money Market Fund (invested in
MONY's Pooled Account No. 4), the Special Equity Fund (invested in the
Special Equity Fund subaccount of MONY's Pooled Account No. 10B), the
Government Fixed Fund ("GFF", invested in MONY's Pooled Account No.
16), the Public Bond Fund (invested in MONY's Pooled Account No. 38),
the Equity Income Fund (invested in MONY's Pooled Account No. 40), and
the Guaranteed Interest Contract ("GIC Fund", invested in GICs issued
by MONY), and the Managed, International Growth and Growth Funds (all
invested in the Enterprise Group of Funds, Inc., a family of mutual
funds sponsored by Enterprise Capital Management, Inc., which is a
wholly-owned subsidiary of MONY). The Plan's share of the net assets
of each of the funds comprising the Trust is determined in proportion
to its ownership interest in the outstanding shares of such funds. The
accompanying financial statements reflect the Plan's allocated share
of the net assets and changes in net assets of the Trust, based on the
application of such method.
On April 17, 2000, MONY began offering a Company Stock (the "Common
Stock Fund") fund as an investment option. The Common Stock Fund uses
"unit" accounting. As a unitized stock fund, the Common Stock Fund
holds primarily the MONY Group, Inc. Common Stock and a small
percentage of cash and short-term instruments, while members hold
units of the Common Stock Fund.
4
INVESTMENT PLAN SUPPLEMENT for EMPLOYEES and
FIELD UNDERWRITERS of MONY LIFE INSURANCE COMPANY
NOTES to FINANCIAL STATEMENTS, Continued
As of December 31, 2000 and 1999
-------
B. Contributions
All Salaried employees and Career Contract Field Underwriters are eligible
to participate in the Plan. The Plan has an Internal Revenue Code (the
"Code") Section 401(k) feature which allows employees and Field
Underwriters to elect to have MONY contribute a percentage of their annual
benefits bearing compensation to the Plan on the employee's behalf on a
pre-tax basis. Participants may elect to defer up to 13% of annual benefits
bearing compensation. The Plan provides that the total contribution by MONY
in any one calendar year cannot exceed 5% of its prior year's income from
operations before dividends to policyholders and federal income taxes,
excluding capital gains and losses. MONY matches 100% of the first 3% of
employee contributions and the first 2% of Field Underwriter contributions
to the Plan. All MONY matching contributions will be allocated to the
Common Stock Fund. For employees/Field Underwriters who choose to direct
their contributions to the Common Stock fund, MONY will make an additional
.15% match on the first 3% of employee contributions, and the first 2% for
Field Underwriters contributions, directed to this fund.
MONY provides a profit-sharing contribution for eligible salaried
employees. This contribution ranges from 0% to 6% of each eligible
employee's salary. The Board of Directors approves this contribution on the
basis of recommendations of the Chairman of The Board of Directors of MONY.
All participant contributions are used to purchase shares in the funds
described in (A), as elected by the participant. A Plan participant is
entitled to the vested value of accumulated shares credited to the
participant's account, including any earnings there from.
Participant share values are reduced by the cost of managing the Plan.
5
INVESTMENT PLAN SUPPLEMENT for EMPLOYEES and
FIELD UNDERWRITERS of MONY LIFE INSURANCE COMPANY
NOTES to FINANCIAL STATEMENTS, Continued
As of December 31, 2000 and 1999
-------
For all funds other than the Common Stock Fund, a member may make unlimited
transfers. For the Common Stock Fund, member contributions which were
credited with matching contributions of 1.15% may not be transferred from
the Common Stock Fund until 3 years from the date of the contribution.
Company matching contributions are not eligible for transfer from the
Common Stock Fund until the later of: (1) members 50th birthday, (2) April
28, 2005, and (3) the 5th anniversary of an employee's employment or
re-employment date. Transfers into the Common Stock Fund will be limited to
15% of the members total plan balance as of the date of the requested
transfer.
Money transferred from Money Market, Public Bond, GIC's or GFF funds,
cannot be transferred back into these funds for 90 days.
C. Vesting
The Plan describes procedures for withdrawal of accumulated shares by
participants during their active service with MONY. Participating employees
and Field Underwriters become vested under the following schedule:
Years of Vesting Service Employee Field Underwriter
------------------------ -------- -----------------
Less than 2 years of service 0% 0%
2 to 3 years of service 25% 0%
3 to 4 years of service 50% 0%
4 to 5 years of service 75% 0%
Over 5 years of service 100% 100%
All shares purchased with MONY contributions are also fully vested upon
termination of service for, early, normal or postponed retirement as
defined in the Retirement Income Security Plan for Employees of The MONY
Life Insurance Company ("RISPE") and upon death while employed by MONY.
D. Disability Benefits
Participants entitled to receive long-term disability benefits under MONY's
1946 Security Plan for Employees are precluded from continuing to make
employee contributions to the Plan once the participants are determined to
have incurred a total disability.
6
INVESTMENT PLAN SUPPLEMENT for EMPLOYEES and
FIELD UNDERWRITERS of MONY LIFE INSURANCE COMPANY
NOTES to FINANCIAL STATEMENTS, Continued
As of December 31, 2000 and 1999
-------
Field Underwriters continue to have 401k contributions deducted from Career
Contract earnings they generated prior to becoming disabled.
E. Loans
The Plan includes a 401(k) loan feature. Participants may generally borrow
the lesser of $50,000 or 50% of their vested account balances contained in
their 401(k) account. The Employee Retirement Plan Account (414 (k)) is
also included to calculate the amount available, but is excluded from loan
depletion. Loans are not to exceed five years, and interest is charged at
the prevailing interest rates on secured personal loans. Interest and
principal payments are made through periodic payroll deductions.
F. Forfeited Accounts
At December 31, 2000 and 1999, forfeited nonvested accounts totaled
$414,639 and $144,112, respectively. These accounts will be used to reduce
future employer contributions, except as defined in the Plan.
G. Payment of Benefits
Upon termination, retirement or death, a participant or beneficiary
generally may elect to receive either a lump-sum amount, installment
payments or any other optional income arrangement permitted by the Plan,
equal to the value of the vested shares allocated to the account.
Accumulated shares credited to participants electing a non-installment
optional income arrangement are withdrawn from the Plan. The accompanying
financial statements include net assets available for active employees
currently participating in the Plan and terminated or retired participants
who have elected installment payments.
An employee may elect to roll over a lump-sum distribution from RISPE into
the Plan.
A Field Underwriter may elect to roll over a lump-sum distribution from the
Field Underwriter Retirement Plan into the Plan.
7
INVESTMENT PLAN SUPPLEMENT for EMPLOYEES and
FIELD UNDERWRITERS of MONY LIFE INSURANCE COMPANY
NOTES to FINANCIAL STATEMENTS, Continued
As of December 31, 2000 and 1999
-------
H. Plan Termination
MONY may amend or modify the Plan. Moreover, MONY may terminate the
Plan, although it has no present intention of doing so. In the event
the Plan is terminated, participants' accounts become fully vested.
2. Summary of Significant Accounting Policies:
Basis of Accounting
The Plan's financial statements are prepared on the accrual basis of
accounting.
Use of Estimates
The preparation of financial statements in conformity with accounting
principles generally accepted in the United States of America requires
management to make significant estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosures of contingent
assets and liabilities at the date of the financial statements and the
reported amounts of revenue and expenses during the reporting period.
Actual results could differ from those estimates.
Investment Valuation and Income Recognition
The Plan's investments in MONY's Pooled Accounts Nos. 4, 10B, 38 and 40,
Mutual Funds and MONY's Common Stock Fund are recorded at fair value.
Purchases and sales of shares of ownership in these funds are recorded on a
trade-date basis. Realized gains and losses on disposition of shares are
determined on a first-in/first-out basis.
The Plan's investments in MONY's GIC Fund and the Government Fixed Fund are
recorded at fair value, which includes accrued interest.
The Plan presents in the statement of changes in net assets available for
benefits the net change in the fair value of its investments in MONY's
Pooled Accounts, Mutual Funds and Common Stock Fund, which consists of
realized gains or losses and the unrealized appreciation or depreciation in
the fair value of those investments for the year.
8
INVESTMENT PLAN SUPPLEMENT for EMPLOYEES and
FIELD UNDERWRITERS of MONY LIFE INSURANCE COMPANY
NOTES to FINANCIAL STATEMENTS, Continued
As of December 31, 2000 and 1999
-------
Interest income is accrued as earned.
Loans receivable from participants are recorded at unpaid principal
balance.
The Plan provides for various investment options in any combination of
stocks, bonds, mutual funds, guaranteed interest contracts, and other
investment securities, through pooled separate accounts. Investment
securities are exposed to various risks, such as interest rate, market and
credit. Due to the level of risk associated with certain investment
securities and the level of uncertainty related to changes in the value of
investment securities, it is at least reasonably possible that changes in
risk in the near term would materially affect participants' account
balances and the amounts reported in the statements of net assets available
for benefits and the statement of changes in net assets available for
benefits.
The shares and unit values of the Plan's investments in MONY's Pooled
Accounts, MONY's GICs, Mutual Funds, and Common Stock Fund, which represent
rounded amounts, reflected above as of December 31, 2000, June 30, 2000 and
December 31, 1999, are as follows:
December 31, 2000 June 30, 2000
----------------- -------------
Number of Unit Number of Unit
Units Value Units Value
Pooled Accounts:
No. 4 1,587,049 $23.74 1,786,563 $23.02
No. 10B 1,172,730 88.76 1,199,950 98.35
No. 16 -'99 898,730 10.95 938,601 10.67
No. 38 707,169 32.11 732,402 29.93
No. 40 1,879,475 67.63 1,960,877 61.04
Mutual Funds:
Managed 3,265,410 10.03 3,392,112 9.68
International 658,824 21.26 700,907 23.26
Growth 661,664 24.18 664,206 25.29
Company Stock:
MONY Stock Fund 378,986 15.40 115,649 10.78
* Pooled Account 16- `91 through `98 rolled-over into Pooled Account 16-'99
as of 3/31/00
9
INVESTMENT PLAN SUPPLEMENT for EMPLOYEES and
FIELD UNDERWRITERS of MONY LIFE INSURANCE COMPANY
NOTES to FINANCIAL STATEMENTS, Continued
As of December 31, 2000 and 1999
-------
December 31, 2000 June 30, 2000
----------------- -------------
Number of Unit Number of Unit
Units Value Units Value
Guaranteed Interest Contracts:
GIC 20 - - 133,903 $13.21
GIC 21 88,289 $12.95 94,637 12.63
GIC 22 575,785 13.23 608,821 12.82
GIC 23 114,119 12.43 119,150 12.11
GIC 24 189,969 12.38 199,957 12.01
GIC 25 170,214 11.74 177,363 11.44
GIC 26 178,389 11.38 184,006 11.08
GIC 27 147,941 10.93 152,441 10.69
GIC 28 1,253,202 10.91 1,096,387 10.60
December 31, 1999
-----------------
Number of Unit
Units Value
Pooled Accounts:
No. 4 2,283,686 $22.37
No. 10B 1,205,415 92.75
No. 38 847,319 28.81
No. 40 2,197,615 63.52
No. 16 -'91 342,749 16.25
No. 16 -'92 118,599 15.71
No. 16 -'93 84,768 14.61
No. 16 -'94 35,782 13.41
No. 16 -'95 45,778 13.56
No. 16 -'96 9,887 12.04
No. 16 -'97 15,265 11.55
No. 16 -'98 10,240 10.98
No. 16 -'99 11,187 10.39
Mutual Funds:
Managed 4,289,758 9.96
International 518,629 26.46
Growth 328,655 26.18
10
INVESTMENT PLAN SUPPLEMENT for EMPLOYEES and
FIELD UNDERWRITERS of MONY LIFE INSURANCE COMPANY
NOTES to FINANCIAL STATEMENTS, Continued
As of December 31, 2000 and 1999
-------
December 31, 1999
------------------
Number of Unit
Units Value
Guaranteed Interest Contracts:
GIC 19 229,536 $14.59
GIC 20 142,095 12.86
GIC 21 103,258 12.31
GIC 22 678,849 12.44
GIC 23 129,843 11.78
GIC 24 225,592 11.66
GIC 25 188,768 11.13
GIC 26 195,474 10.81
GIC 27 168,127 10.45
GIC 28 907,665 10.29
MONY's Pooled Accounts are separate accounts whose assets and liabilities
are segregated from the other assets and liabilities of MONY. Management
believes these pooled account assets and liabilities will not be affected
by liabilities that may arise out of any other business that MONY may
conduct.
Pooled Account No. 4, the Money Market Fund, is a separate account
primarily invested in commercial paper. Its objectives are to obtain a
high level of current income consistent with the preservation of
capital and to maintain a quality portfolio of short-term money market
instruments.
Pooled Account No. 10B, the Special Equity Fund, is a separate account
invested in securities of small-to-medium size market capitalization
companies.
Pooled Account No. 16, the Government Fixed Fund, is a separate
account that provides for guaranteed rates of return on principal and
interest. The fund is invested solely in obligations of the U.S.
Government and U.S. Government Agencies, which include Treasury Bonds,
Bills, Notes and Agency Obligations.
Pooled Account No. 38, the Public Bond Fund, is a separate account
primarily invested in a diversified portfolio of publicly traded
corporate bonds, concentrated in investment-grade issues in the four
highest major-ranking categories established by Moody's or Standard &
Poor's.
11
INVESTMENT PLAN SUPPLEMENT for EMPLOYEES and
FIELD UNDERWRITERS of MONY LIFE INSURANCE COMPANY
NOTES to FINANCIAL STATEMENTS, Continued
As of December 31, 2000 and 1999
-------
Pooled Account No. 40, the Equity Income Fund, is a separate account
primarily invested in common stock with relatively high current
yields. Its objective is to offer above-average current income and the
opportunity for capital appreciation.
Guaranteed Interest Contracts are contracts with MONY that provide for
guaranteed rates of return on principal invested over specified time
periods. The assets supporting these contracts are invested with the
general assets of MONY. Loans are not permitted from the GIC Fund or GFF. A
market value adjustment may apply if the participant elects a withdrawal or
transfer from a GIC Fund or GFF outside an established period. If a
withdrawal is elected upon retirement, termination, disability or required
minimum distribution, the market value adjustment does not apply.
Managed Fund is a flexible portfolio mutual fund that invests in common
stocks, bonds and cash equivalents.
International Growth Fund is a diversified international asset management
mutual fund that seeks capital appreciation primarily through a portfolio
of non-U.S. equities.
Growth Fund invests in the stocks of companies with long-term earnings
potential but which are currently selling at a discount to their estimated
long term value. The Fund's equity selection process is generally lower
risk than a typical growth stock approach.
Common Stock Fund invests primarily in the MONY Group, Inc. Common Stock
and a small percentage of cash and short-term instruments.
3. Estimated Fair Value of Financial Instruments:
The following table represents the carrying amounts and estimated fair
values of the Company's financial instruments at December 31, 2000 and
December 31, 1999. The calculations of estimated fair values involve
considerable judgment. Accordingly, these estimates of fair value are not
necessarily indicative of the amounts that could be negotiated in an actual
sale.
12
INVESTMENT PLAN SUPPLEMENT for EMPLOYEES and
FIELD UNDERWRITERS of MONY LIFE INSURANCE COMPANY
NOTES to FINANCIAL STATEMENTS, Continued
As of December 31, 2000 and 1999
-------
December 31, 2000:
Carrying Estimated
Financial Assets: Amount Fair Value
---------------- ------ ----------
Pooled Accounts $301,419,745 $301,419,745
Guaranteed Interest Contracts 31,851,571 31,851,571
Mutual Funds 62,756,620 62,756,620
Common Stock Fund 5,834,719 5,834,719
------------ ------------
$401,862,655 $401,862,655
============ ============
December 31, 1999:
Carrying Estimated
Financial Assets: Amount Fair Value
---------------- ------ ----------
Pooled Accounts $337,200,968 $337,200,968
Guaranteed Interest Contracts 34,364,961 34,364,961
Mutual Funds 65,058,552 65,058,552
------------ ------------
$436,624,481 $436,624,481
============ ============
The following represents investments with fair values of 5% or more of
the Plan's net assets as of December 31, 2000 and 1999:
Issuer/Description 2000 1999
------------------ ---- ----
MONY's Pooled Accounts:
No. 4 $36,447,100 $ 51,087,550
No. 10B 86,672,153 111,803,043
No. 38 19,492,233 -
No. 40 93,489,883 -
No. 6 - 139,601,531
No. 5 - 24,412,128
Managed Fund 25,150,599 42,734,115
The methods and assumptions utilized in estimating these fair values of
financial instruments are summarized as follows:
Pooled Accounts, Mutual Funds and Common Stock Fund
---------------------------------------------------
Short-term securities other than money market instruments, with 60 days or
less to maturity at the time of purchase, are valued at amortized cost,
which approximates market. Money market instruments are valued at cost,
which approximates market; all other short-term securities are valued at
market.
13
INVESTMENT PLAN SUPPLEMENT for EMPLOYEES and
FIELD UNDERWRITERS of MONY LIFE INSURANCE COMPANY
NOTES to FINANCIAL STATEMENTS, Continued
As of December 31, 2000 and 1999
-------
Guaranteed Interest Contracts
-----------------------------
The fair values of the Plan's Guaranteed Interest Contracts are estimated
by discounting expected cash flows using interest rates currently offered
for similar contracts with maturities consistent with those remaining for
the contracts being valued, where appropriate.
Common stocks are valued at the closing market prices for securities traded
on national securities exchanges, or at the last "bid" prices for
"over-the-counter" securities.
Bonds actively traded on a national securities exchange are valued at the
last reported sales prices. Bonds traded "over-the-counter" are valued at
the last reported "bid" prices.
Participant Loans
-----------------
Unpaid principal balances of the loan approximate fair value.
4. Common Stock Fund:
The Common Stock Fund consists of the following as of December 31, 2000:
MONY Common Stock $ 5,645,389
Cash and short-term instruments 189,330
---------------
$ 5,834,719
===============
Movements in the Common Stock Fund for the year ended December 31, 2000 are
as follows:
Balance at December 31, 1999 $ -
Participants' contributions 215,756
MONY's contributions 2,593,421
Interest income 14,929
Net transfers 1,699,345
Participants' benefits (134,269)
Net change in fair value during the year 1,373,364
Others 71,973
---------------
Fair value at December 31, 2000 $ 5,834,719
===============
14
INVESTMENT PLAN SUPPLEMENT for EMPLOYEES and
FIELD UNDERWRITERS of MONY LIFE INSURANCE COMPANY
NOTES to FINANCIAL STATEMENTS, Continued
As of December 31, 2000 and 1999
-------
5. Tax Status:
The Internal Revenue Service has determined and informed the Company by a
letter dated February 9, 1996, that the Plan and related trust are designed
in accordance with applicable sections of Code. The Plan has been amended
since receiving the determination letter. However, the Plan administrator
and the Plan's tax counsel believe that the Plan is designed and is
currently being operated in compliance with the applicable requirements of
the Code.
15
INVESTMENT PLAN SUPPLEMENT for EMPLOYEES and FIELD
UNDERWRITERS of MONY LIFE INSURANCE COMPANY
SCHEDULE of ASSETS (Held at End of Year)
As of December 31, 2000
Issuer/Description Historical Cost Fair Value
------------------ --------------- ----------
MONY's Pooled Accounts:
No. 4 $36,447,100 $37,680,921
No. 10B 86,672,153 104,089,629
No. 38 19,492,233 22,709,680
No. 40 93,489,883 127,101,619
No. 16 - '99 at 5.55%* 9,837,896 9,837,896
------------ ------------
245,939,265 301,419,745
------------ ------------
MONY's Guaranteed Interest Contracts
GIC 21 matures January 1, 2001 at 5.40% 1,143,592 1,143,592
GIC 22 matures July 1, 2001 at 6.50% 7,616,954 7,616,954
GIC 23 matures January 1, 2002 at 5.70% 1,418,442 1,418,442
GIC 24 matures July 1, 2002 at 6.40% 2,351,911 2,351,911
GIC 25 matures January 1, 2003 at 5.65% 1,998,745 1,998,745
GIC 26 matures July 1, 2003 at 5.45% 2,029,493 2,029,493
GIC 27 matures January 1, 2004 at 4.75% 1,616,512 1,616,512
GIC 28 no maturity date at 6.25% 13,675,922 13,675,922
------------ ------------
31,851,571 31,851,571
------------ ------------
Mutual Funds:
Managed 25,150,599 32,751,530
International 14,704,936 14,004,073
Growth 16,433,052 16,001,017
------------ ------------
56,288,587 62,756,620
------------ ------------
Common Stock Fund:
MONY Stock 5,834,719 5,834,719
------------ ------------
Loans receivable from participants** 13,514,083 13,514,083
------------ ------------
Total assets $353,428,225 $415,376,738
============ ============
* Pooled Account 16- '91 through '98 rolled-over into Pooled
Account 16-'99 as of March 31, 2000.
** Participant loans are charged interest rates equivalent to secured lines
of credit through Chase Manhattan Bank and MONY Federal Credit Union,
Syracuse, New York. Loans receivable have an applicable rate ranging
from 6.50% to 11.75%.
16
INVESTMENT PLAN SUPPLEMENT for EMPLOYEES and FIELD
UNDERWRITERS of MONY LIFE INSURANCE COMPANY
SCHEDULE of SERIES OF REPORTABLE TRANSACTIONS
For the year ended December 31, 2000
Total Value Number Total Value Cost of Net
Number of of of of Assets Realized
Description of Investment Purchases Purchases Sales Sales Sold Gain (Loss)
------------------------- --------- --------- ----- ----- ---- -----------
Money Market Account 386 $39,046,994 1,106 $55,025,349 $52,198,239 $2,827,109
Equity Income Account 370 14,468,153 848 34,364,368 14,035,424 20,328,944
Special Equity Account 442 30,777,945 880 33,724,004 14,742,963 18,981,042
Managed Fund 316 7,381,397 1,052 17,277,648 16,657,543 620,105
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