UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
For the transition period from to
Commission file number 1-32525
A. Full title of the plan and the address of the plan, if different from that of the issuer named below:
AMERIPRISE FINANCIAL 401(k) PLAN
B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
AMERIPRISE FINANCIAL, INC.
55 Ameriprise Financial Center
Minneapolis, MN 55474
Ameriprise Financial 401(k) Plan
Form 11-K
For the year ended December 31, 2006
Report of Independent Registered Public Accounting Firm
The Employee Benefits Administration Committee
Ameriprise Financial, Inc.
We have audited the accompanying statements of net assets available for benefits of the Ameriprise Financial 401(k) Plan as of December 31, 2006 and 2005, and the related statements of changes in net assets available for benefits for the year ended December 31, 2006 and for the period October 1, 2005 (date of inception) through December 31, 2005. 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 the standards of the Public Company Accounting Oversight Board (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. We were not engaged to perform an audit of the Plan’s internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also 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.
In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan at December 31, 2006 and 2005, and the changes in its net assets available for benefits for the year ended December 31, 2006 and for the period October 1, 2005 (date of inception) through December 31, 2005, in conformity with U.S. generally accepted accounting principles.
Our audits were performed for the purpose of forming an opinion on the financial statements taken as a whole. The accompanying supplemental schedules of assets (held at end of year) as of December 31, 2006 and delinquent deposits of participant contributions for the year then ended are presented for purposes of additional analysis and are not a required part of the financial statements but are 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 our audit of the financial statements and, in our opinion, are fairly stated in all material respects in relation to the financial statements taken as a whole.
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/s/ Ernst & Young LLP |
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Minneapolis, Minnesota |
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June 27, 2007 |
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1
Ameriprise Financial 401(k) Plan
Statements of Net Assets Available for Benefits
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December 31, 2006 |
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December 31, 2005 |
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Assets |
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Investments: |
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Investments at fair value: |
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Mutual funds |
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$ |
273,756,931 |
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$ |
295,077,176 |
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Collective investment funds |
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208,287,184 |
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118,080,569 |
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Ameriprise Financial Stock Fund |
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60,632,795 |
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32,602,348 |
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American Express Company Stock Fund |
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156,771,878 |
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171,796,924 |
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Self-Managed Brokerage Account |
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87,631,820 |
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56,474,077 |
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Income Fund: |
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Investment contracts |
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80,028,195 |
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76,478,424 |
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Other income fund investments |
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7,218,879 |
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10,870,489 |
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Participant loans |
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18,805,370 |
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18,396,644 |
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Total investments at fair value |
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893,133,052 |
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779,776,651 |
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Adjust investment contracts to contract value |
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728,979 |
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757,227 |
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Total investments |
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893,862,031 |
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780,533,878 |
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Receivables: |
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Investment income |
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16,705 |
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15,618 |
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Proceeds from sale of investments |
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— |
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1,748,614 |
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Employer contributions |
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20,397,060 |
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21,699,877 |
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Total assets |
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914,275,796 |
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803,997,987 |
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Liabilities |
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Payable for securities purchased |
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804,219 |
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366,421 |
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Net assets available for benefits |
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$ |
913,471,577 |
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$ |
803,631,566 |
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See notes to financial statements.
2
Ameriprise Financial 401(k) Plan
Statements of Changes in Net Assets Available for Benefits
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Year Ended |
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Period |
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Contributions: |
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Employer |
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$ |
32,977,736 |
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$ |
21,705,873 |
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Participant |
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39,788,549 |
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8,792,814 |
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Participant rollovers or transfers |
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4,551,644 |
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175,612 |
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Total contributions |
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77,317,929 |
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30,674,299 |
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Investment income: |
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Interest and dividends |
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31,524,192 |
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25,392,214 |
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Interest on participant loans |
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1,071,661 |
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223,229 |
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Net realized/unrealized appreciation (depreciation): |
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Mutual funds |
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15,664,730 |
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(9,467,904 |
) |
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Collective investment funds |
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26,167,980 |
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6,299,189 |
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Ameriprise Financial Stock Fund |
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13,146,641 |
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6,098,107 |
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American Express Company Stock Fund |
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26,243,057 |
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12,114,139 |
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Self-Managed Brokerage Account |
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4,689,817 |
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1,005,786 |
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Income Fund |
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300,117 |
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73,628 |
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Total net realized/unrealized appreciation |
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86,212,342 |
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16,122,945 |
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Total investment income |
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118,808,195 |
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41,738,388 |
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Total contributions and investment income |
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196,126,124 |
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72,412,687 |
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Withdrawal payments |
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(86,286,113 |
) |
(11,658,627 |
) |
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Transfer from American Express Incentive Savings Plan |
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— |
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742,877,506 |
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Net increase in net assets available for benefits |
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109,840,011 |
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803,631,566 |
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Net assets available for benefits at beginning of period |
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803,631,566 |
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— |
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Net assets available for benefits at end of period |
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$ |
913,471,577 |
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$ |
803,631,566 |
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See notes to financial statements.
3
Ameriprise Financial 401(k) Plan
December 31, 2006
1. Description of the Plan
General
The Ameriprise Financial 401(k) Plan (the “Plan”), which became effective October 1, 2005, is a defined contribution pension plan. Under the terms of the Plan, regular full-time and certain part-time employees of Ameriprise Financial, Inc. and its participating subsidiaries (the “Company”) can make contributions to the Plan upon date of hire and are eligible to receive Company contributions upon completion of one year of service.
The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). The following is not a comprehensive description of the Plan, and therefore, does not include all situations and limitations covered by the Plan.
Administration
Ameriprise Trust Company (“ATC”), a wholly-owned subsidiary of Ameriprise Financial, Inc., was the trustee and recordkeeper of the Plan as of December 31, 2006. The Plan is administered by the Company’s Employee Benefits Administration Committee (“EBAC”). The Company’s 401(k) Investment Committee selects the investment options offered to participants under the Plan and directs the manner in which investment options unique to the Plan are invested. Members of the EBAC and members of the 401(k) Investment Committee are determined based upon job title as specified in the Plan.
Expenses
Currently, all administrative expenses incurred with regard to the Plan are borne by the Company. Expenses related to the Plan’s investments, such as brokerage commissions, fees, stock transfer taxes and other charges are generally paid out of the applicable investment fund. The participant pays fees and expenses of the Self-Managed Brokerage Account (“SMBA”).
Contributions
The Plan currently provides for the following contributions:
Elective Contributions
Participants may contribute each pay period before-tax, after-tax (up to 10% of base salary), or a combination of both, not to exceed 80% of their base salary to the Plan through payroll deductions. The Internal Revenue Code of 1986, as amended (the “Code”), imposes a limitation (adjusted annually for cost of living increases) on participants’ before-tax contributions to plans, which are qualified under Code Section 401(k), and other specified tax favored plans. This limit per the Code was $15,000 for employees under age 50 and $20,000 for employees over age 50 for 2006. The Plan complied with nondiscrimination requirements under the Code for 2006.
4
Company Matching Contributions
Upon completion of one year of service, the Company matches participants’ before-tax contributions quarterly on a dollar for dollar basis up to 3% of base salary. A participant must be employed by the Company on the last working day of the quarter to receive Company Matching Contributions. Total Company Matching Contributions for the plan year ended December 31, 2006 and the three month period ended December 31, 2005 were $11,876,911 and $2,823,097, respectively.
Profit Sharing Contributions
Upon completion of one year of service, additional Company contributions of 0-7% of the participants’ base salary may be made annually at the Company’s discretion based, in part, on the Company’s performance. Participants must be employed on the last working day of the plan year (or be disabled under the terms of the Plan) to be eligible for any Profit Sharing Contributions made for that plan year. Contributions to eligible employees are made regardless of whether the employee contributes to the Plan. Profit Sharing Contributions were 4.5% of eligible base salary earned in both 2006 and 2005. Total Profit Sharing Contributions for 2006 and 2005 were $16,664,502 and $17,828,392, respectively.
Company Stock Contributions
Upon completion of one year of service, the Company contributes 1% of base salary quarterly regardless of whether the eligible employee contributes to the Plan. This contribution is invested in the Ameriprise Financial, Inc. Stock Fund. However, participants are allowed to immediately transfer their balance among the other investment options. A participant must be employed by the Company on the last working day of the quarter to receive Company Stock Contributions. Total Company Stock Contributions for the plan year ended December 31, 2006 and the three month period ended December 31, 2005 were $4,436,323 and $1,054,384, respectively.
Limit on Contributions
For purposes of the Plan, base salary is a participant’s regular cash compensation up to $220,000 in 2006 before tax deductions and certain other withholdings. Base salary does not include bonuses, overtime, commissions and certain other amounts.
Rollover Contributions
A Rollover is a transfer to the Plan of a qualified distribution in accordance with the provisions of the Plan. Rollovers into the Plan are not subject to Company Matching Contributions.
Transfer of Account Balances
Participants’ account balances may be transferred among the Plan’s investment options upon instructions from the participant.
5
Vesting
Participants are immediately vested in their before-tax and after-tax contributions, Company Matching Contributions, Company Stock Contributions, Rollovers, and income and appreciation on the foregoing. Profit Sharing Contributions, and income and appreciation thereon, are fully vested after five years of service, upon retiring at or after attaining the Plan’s normal retirement age (65), upon becoming disabled or at death. Company Profit Sharing Contributions not vested at the time of termination of employment are forfeited and used to reduce future Company contributions. Forfeitures for the plan year ended December 31, 2006 and the three month period ended December 31, 2005 were $1,698,350 and $238,793, respectively.
Tax Deferrals
As long as the Plan remains qualified and the related Trust (the “Trust”) remains tax exempt, amounts invested in the Plan through participant and Company contributions and Rollovers, as well as the income and appreciation on such amounts, are not subject to federal income tax until distributed to the participant.
Distributions and Withdrawals
Upon disability, death or retirement at or after attaining the Plan’s normal retirement age (65), participants or their beneficiaries are eligible to receive a distribution of the full value of their accounts. If employment ends for other reasons, participants are eligible to receive a distribution of their vested account balance. If employment ends, participants (or their beneficiaries) may elect to receive their accounts as a single lump-sum distribution in cash, whole shares of Ameriprise Financial, Inc. common shares, American Express Company common shares, mutual funds shares held under the Self-Managed Brokerage Account, or a combination of cash and shares. A participant may request a withdrawal of all or a portion of their vested account balance subject to limitations under the terms of the Plan and certain tax penalties imposed by the Code.
Loan Program
The EBAC has the power to establish, interpret and administer a uniform and nondiscriminatory loan program which the trustee must observe in making loans, if any, to active participants and other parties in interest. Such individuals shall be eligible for loans pursuant to such uniform and nondiscriminatory loan program. Such loan program shall be evidenced by a written document separate from the Plan and Trust.
Participants may borrow from their fund accounts a minimum of $500 up to a maximum of the lesser of $50,000 or 50 percent of their account balance. Loan terms range from up to 59 months or up to 359 months if the loan is used towards the purchase of a primary residence. The loans are secured by the balance in the participant’s account and bear a fixed interest rate of the prime rate as reported in the Wall Street Journal on the third Monday of the month preceding the loan request. Principal and interest are paid ratably through weekly, bi-weekly or monthly payroll deductions, with a minimum deduction of $10. A loan will become immediately due and payable upon the applicant’s retirement, termination of employment, total and permanent disability or death. A loan will be considered in default if payments are not received by the Plan within ninety (90) days following the date payment is due under the note. Loans not repaid within that timeframe will be reported as taxable distributions.
6
2. Significant Accounting Policies
Valuation of Investments
Investments in mutual funds (including those held in SMBAs) and collective investment funds are valued at the closing net asset values of the funds on the last business day of the plan year. Investments in Ameriprise Financial, Inc. and American Express Company common shares are valued at the last quoted sales price on the New York Stock Exchange on the last business day of the plan year. The income fund primarily consists of investment contracts, which are fully benefit-responsive. Investment contracts are carried at contract value, which represents the face amount of the contract plus interest at the contract rate. Defined contribution pension plans are required to also report the fair value of investment contracts; therefore, a reconciliation is presented on the Statements of Net Assets Available for Benefits between the fair value and contract value. Participant loan accounts are valued at cost, which approximates fair value.
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.
Other
Purchases and sales of securities are reflected on a trade-date basis. The cost of securities sold is determined using the average cost method. Dividend income is recorded on the ex-dividend date. Income from other investments is recorded on the accrual basis. As required by the Plan, all dividend and interest income is reinvested into the same investment funds in which the dividends and interest arose.
The accompanying financial statements have been prepared on the accrual basis of accounting and include the use of management estimates in conformity with U.S. generally accepted accounting principles. Actual results could differ from those estimates.
3. Recent Accounting Pronouncements
In December 2005, the Financial Accounting Standards Board (FASB) issued FASB Staff Position AAG INV-1 and SOP 94-4-1, Reporting of Fully Benefit-Responsive Investment Contracts Held by Certain Investment Companies Subject to the AICPA Investment Company Guide and Defined-Contribution Health and Welfare and Pension Plans (the FSP). The FSP defines the circumstances in which an investment contract is considered fully benefit responsive and provides certain reporting and disclosure requirements for fully benefit responsive investment contracts in defined contribution health and welfare and pension plans. The financial statement presentation and disclosure provisions of the FSP are effective for financial statements issued for annual periods ending after December 15, 2006 and are required to be applied retroactively to all prior periods presented for comparative purposes. The Plan has adopted the provisions of the FSP at December 31, 2006.
7
As described in the FSP, investment contracts held by a defined-contribution plan are required to be reported at fair value. The fair value of the guaranteed investment contract is calculated by discounting the related cash flows based on current yields of similar instruments with comparable durations. However, contract value is the relevant measurement attribute for that portion of the net assets available for benefits of a defined-contribution plan attributable to fully benefit-responsive investment contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the plan. As required by the FSP, the Statement of Net Assets Available for Benefits presents the fair value of the investment contracts as well as the adjustment of the fully benefit-responsive investment contracts from fair value to contract value. The Statement of Changes in Net Assets Available for Benefits is prepared on a contract value basis. Contract value represents the face amount of the contract plus accrued interest at the contract rate.
4. Investments
Investment Elections
A participant may currently elect to invest contributions in any combination of investment funds in increments of 1% and change investment elections for future contributions or transfer existing account balances on any business day the New York Stock Exchange is open, with the exception of the SMBA. The SMBA has a minimum initial transfer of $3,000 and additional increments of at least $500. Future contributions cannot be made directly to the SMBA.
Investment Options
A summary of investment options at December 31, 2006 is set forth below:
Mutual Funds – The “RiverSourceSM Funds” – the RiverSourceSM Diversified Bond Fund, RiverSourceSM Balanced Fund, RiverSourceSM Retirement Plus 2010 Fund, RiverSourceSM Retirement Plus 2015 Fund, RiverSourceSM Retirement Plus 2020 Fund, RiverSourceSM Retirement Plus 2025 Fund, RiverSourceSM Retirement Plus 2030 Fund, RiverSourceSM Retirement Plus 2035 Fund, RiverSourceSM Retirement Plus 2040 Fund and RiverSourceSM Retirement Plus 2045 Fund, RiverSourceSM Mid Cap Value Fund, RiverSourceSM Diversified Equity Income Fund, RiverSourceSM Disciplined Equity Fund, – are mutual funds offered to the general public. Each of the RiverSourceSM Funds is managed by RiverSourceSM Investments, LLC a wholly-owned subsidiary of the Company. James Small Cap Fund is managed by James Investment Research.
8
Collective Investment Funds – The RiverSourceSM Trust Small Cap Equity Index Fund I, and RiverSourceSM Trust Equity Index Fund III are collective funds, managed by ATC. Wellington Trust Mid Cap Growth and Wellington Trust Large Cap Growth are managed by Wellington Management Company LLP. AllianceBernstein International Fund is managed by AllianceBernstein LP.
Ameriprise Financial Stock Fund – Is considered to be an Employee Stock Ownership Plan (“ESOP”). The Fund invests primarily in the Company’s common stock, purchased in either the open market or directly from the Company, and in cash or short-term cash equivalents.
American Express Company Stock Fund – Invested primarily in American Express Company common stock, and in cash or short-term cash equivalents. Amounts held could be sold at any time, but the fund could not receive additional contributions. In April 2007, Plan participants with balances in the American Express Company Stock Fund had the option of transferring their shares in-kind to a SMBA or transferring the balance to other investment options within the Plan.
Self-Managed Brokerage Account (Mutual Funds only) – The SMBA gives participants the freedom to invest in a wide variety of mutual funds in addition to the other aforementioned investment options. Participants are provided a list of over 900 mutual funds to make choices and investment selections of their own design.
Income Fund – Invests primarily in various investment contracts, directly or indirectly, offered by the U.S. Government, insurance companies or other financial institutions. See Note 5 for a more comprehensive discussion of investment contracts. ATC acts as investment manager for the Income Fund. The fund also invests in the RiverSourceSM Trust Money Market Fund I (which invests primarily in short-term debt instruments), the RiverSourceSM Government Income Fund (which invests primarily in U.S. Treasury, Agency and mortgage-backed securities) and the RiverSourceSM Trust Stable Capital Fund I (which invests primarily in a diversified pool of high quality bonds together with book value contracts of varying maturity, sizes and yields). The goal of these funds is to maximize current income consistent with the preservation of principal.
9
At December 31, 2006 and 2005, investments with a fair value representing 5% or more of the Plan’s net assets available for benefit were as follows:
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Description |
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Number of |
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Cost |
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Fair Value |
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2006 |
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Common Shares |
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American Express Company |
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2,558,011 |
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$ |
122,660,399 |
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$ |
155,194,527 |
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Ameriprise Financial, Inc. |
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1,080,950 |
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$ |
40,771,518 |
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$ |
58,911,775 |
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Collective Funds |
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Wellington Trust Fund Mid Cap Growth |
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4,346,806 |
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$ |
43,595,428 |
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$ |
48,859,029 |
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AllianceBernstein International |
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6,343,524 |
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$ |
63,520,354 |
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$ |
69,465,169 |
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Mutual Funds |
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RiverSourceSM Disciplined Equity |
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19,687,126 |
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$ |
135,184,720 |
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$ |
138,059,774 |
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2005 |
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Common Shares |
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American Express Company |
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3,323,701 |
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$ |
159,371,463 |
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$ |
171,037,653 |
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Mutual Funds |
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RiverSourceSM New Dimensions Fund, Inc. |
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4,512,272 |
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$ |
102,426,883 |
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$ |
89,433,234 |
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Morgan Stanley Institutional Fund International Equity Portfolio (Class A) |
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2,483,562 |
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$ |
53,498,110 |
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$ |
50,515,650 |
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RiverSourceSM Mid Cap Growth Fund, Inc. |
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3,411,447 |
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$ |
46,676,472 |
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$ |
49,534,214 |
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RiverSourceSM Stock Fund, Inc. |
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2,370,868 |
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$ |
45,578,308 |
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$ |
48,033,778 |
|
10
5. Investment Contracts
Investment contracts are comprised of both an investment and a contractual component. The investment component consists of collective investment funds and a pooled portfolio of actively managed fixed income securities owned by the Fund, referred to as the Covered Assets. The Fund enters into wrapper agreements (the contractual component) with third-parties, generally insurance companies or banks, to protect the Covered Assets from adverse interest rate movements. Under the agreements, the third-party is obligated to provide sufficient funds to cover participant benefit withdrawals and investment transfers regardless of the market value of the Covered Assets. While the agreements protect the Fund against interest rate risk, the Fund is still exposed to default risk if issuers of Covered Assets default on payment of interest or principle.
The fair value for traditional investment contracts was estimated based upon discounting future cash flows under the contract at current interest rates for similar investments with comparable terms. The fair value for synthetic contracts was estimated based on the market values of the underlying securities. Related wrap instruments for synthetic contracts were valued based on the present value of future fee payments attributable to each wrapper. Contracts with maturities of one year or less were valued at contract value, which approximates fair value. This valuation is made in accordance with Statement of Financial Accounting Standards No. 107, “Disclosures about Fair Value of Financial Instruments” and does not necessarily reflect the value that would be realized as a result of premature liquidation of the contracts. The fair value of investment contracts at December 31, 2006, and 2005, was estimated to be $80,028,195 and $76,478,424, respectively.
Certain events may limit the ability of the Fund to transact at contract value with the contract issuers for participant benefit payments or investment transfers. One possible event would be a request by Ameriprise Financial to terminate or partially terminate the Plan. Another possible event would be a request by ATC to terminate a contract at market value. Neither of these events is probable.
Certain events may allow the issuer to terminate a fully benefit-responsive investment contract and settle at an amount different from contract value. Such events are not probable but may include the termination of the Plan or the trust holding the Fund assets, the replacement of the trustee of the Fund without the consent of the wrapper provider, a breach of the contract terms by a counterparty, or a legal or regulatory event such as an adverse ruling by a regulatory agency.
The crediting rate of an investment contract is the rate at which the Fund will recognize income on Covered Assets. The rate is tied to the performance and duration of the Covered Assets and is generally reset quarterly. The weighted average crediting rates on investment contracts was 4.84% and 4.22% at December 31, 2006, and 2005, respectively. The average yield on investment contracts was 4.80% and 4.22% for 2006 and 2005, respectively.
11
6. Risks and Uncertainties
The Plan invests in various investment securities, which are exposed to various risks such as interest rate, market and credit risks. Due to the level of risk associated with certain investments, 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 benefits.
7. Income Tax Status
The Plan has applied for a determination letter with the Internal Revenue Service (the “IRS”) on May 8, 2006, stating that the Plan is qualified under Section 401(a) of the Code. As of the date of these financial statements, a determination from the IRS has not been received. However, the Plan administrator believes that the Plan has been designed to comply with and is operating in accordance with the requirements of the Code and, therefore, believes the Plan is qualified and the related trust is exempt from taxation.
8. Reconciliation of Financial Statements to Form 5500
The following is a reconciliation of net assets available for benefits per the financial statements to the Form 5500:
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December 31, |
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|
|
2006 |
|
2005 |
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|
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Net assets available for benefits per the financial statements |
|
$ |
913,471,577 |
|
$ |
803,631,566 |
|
|
Deemed distributions of participant loans |
|
(228,676 |
) |
(165,156 |
) |
||
|
Difference between contract value and fair value of investment contracts |
|
(728,979 |
) |
— |
|
||
|
Net assets available for benefits per Form 5500 |
|
$ |
912,513,922 |
|
$ |
803,466,410 |
|
9. Subsequent Events
In October 2006 the Company announced changes and additions to the Plan to be effective January 1, 2007. These changes included the addition of a Roth 401(k) feature; more frequent deposits of Company contributions; faster eligibility for Company contributions; revised vesting schedule for future Company contributions; and a new annual discretionary Variable Match Contribution that will replace the Profit Sharing Contribution.
Effective April 1, 2007, the Company changed its Plan trustee and recordkeeper from ATC to Wachovia Bank, National Association.
12
Ameriprise Financial 401(k) Plan
13
Ameriprise Financial 401(k)
Plan
Schedule H, Line 4a – Delinquent Deposits of
Participant Contributions
Year Ended December 31, 2006
|
Name of Plan Sponsor: |
|
Ameriprise Financial, Inc. |
|
Employer Identification Number: |
|
13-3180631 |
|
Three-Digit Plan Number: |
|
001 |
|
Participant Contributions of the Current Plan Year Not Deposited Into the Plan Within the Time Period Described in 29 CFR 2510.3-102 (Line 4a of Schedule H) |
|
$ |
2,217 |
|
|
Less: Amount fully corrected consistent with the DOL’s Voluntary Fiduciary Correction Program (VFC Program) and PTE 2002-51 |
|
(2,217 |
) |
|
|
Delinquent Deposits of Participant Contributions Constituting Non-exempt Prohibited Transactions |
|
$ |
— |
|
14
Ameriprise Financial 401(k) Plan
Schedule H, Line 4i – Schedule of Assets (Held at End of Year)
December 31, 2006
|
Name of Plan Sponsor: |
|
Ameriprise Financial, Inc. |
|
Employer Identification Number: |
|
13-3180631 |
|
Three-Digit Plan Number: |
|
001 |
|
Identity of Issue, Borrower, Lessor, or Similar Party |
|
Number of |
|
Current Value |
|
|
|
|
|
|
|
|
|
|
|
Mutual Funds – |
|
|
|
|
|
|
|
RiverSourceSM Diversified Bond Fund* |
|
4,896,660 |
|
$ |
23,631,909 |
|
|
RiverSourceSM Balanced Fund* |
|
2,973,388 |
|
33,004,545 |
|
|
|
RiverSourceSM Retirement Plus 2010* |
|
412,420 |
|
4,293,293 |
|
|
|
RiverSourceSM Retirement Plus 2015* |
|
692,671 |
|
7,252,073 |
|
|
|
RiverSourceSM Retirement Plus 2020* |
|
854,577 |
|
8,992,285 |
|
|
|
RiverSourceSM Retirement Plus 2025* |
|
977,341 |
|
10,261,852 |
|
|
|
RiverSourceSM Retirement Plus 2030* |
|
1,062,631 |
|
11,151,400 |
|
|
|
RiverSourceSM Retirement Plus 2035* |
|
821,858 |
|
8,555,985 |
|
|
|
RiverSourceSM Retirement Plus 2040* |
|
591,352 |
|
6,214,516 |
|
|
|
RiverSourceSM Retirement Plus 2045* |
|
357,484 |
|
3,756,430 |
|
|
|
RiverSourceSM Mid Cap Value Fund* |
|
570,426 |
|
5,126,600 |
|
|
|
RiverSourceSM Diversified Equity Income Fund* |
|
784,918 |
|
10,005,407 |
|
|
|
RiverSourceSM Disciplined Equity Fund* |
|
19,687,126 |
|
138,059,774 |
|
|
|
James Small Cap Fund |
|
147,314 |
|
3,450,862 |
|
|
|
Total Mutual Funds |
|
|
|
273,756,931 |
|
|
|
|
|
|
|
|
|
|
|
Collective Investment Funds – |
|
|
|
|
|
|
|
RiverSourceSM Trust Small Cap Equity Index Fund I* |
|
2,098,981 |
|
42,279,218 |
|
|
|
RiverSourceSM Trust Equity Index Fund III* |
|
1,142,553 |
|
45,554,776 |
|
|
|
Wellington Trust Mid Cap Growth Portfolio |
|
4,346,806 |
|
48,859,029 |
|
|
|
Wellington Trust Large Cap Growth Portfolio |
|
152,738 |
|
2,128,992 |
|
|
|
AllianceBernstein International |
|
6,343,524 |
|
69,465,169 |
|
|
|
Total Collective Investment Funds |
|
|
|
208,287,184 |
|
|
|
|
|
|
|
|
|
|
|
Ameriprise Financial Stock Fund – |
|
|
|
|
|
|
|
RiverSourceSM Trust Money Market Fund I* |
|
1,721,020 |
|
1,721,020 |
|
|
|
Ameriprise Financial, Inc. Common Shares* |
|
1,080,950 |
|
58,911,775 |
|
|
|
Total Ameriprise Financial Stock Fund |
|
|
|
60,632,795 |
|
|
|
|
|
|
|
|
|
|
|
American Express Company Stock Fund – |
|
|
|
|
|
|
|
RiverSourceSM Trust Money Market Fund I* |
|
1,577,351 |
|
1,577,351 |
|
|
|
American Express Company Common Shares |
|
2,558,011 |
|
155,194,527 |
|
|
|
Total American Express Company Stock Fund |
|
|
|
156,771,878 |
|
|
15
|
Identity of Issue, Borrower, Lessor, or Similar Party |
|
Number of |
|
Current Value |
|
|
|
|
|
|
|
|
|
Self-Managed Brokerage Account |
|
|
|
87,631,820 |
|
|
|
|
|
|
|
|
|
Income Fund – |
|
|
|
|
|
|
RiverSourceSM Trust Money Market Fund I* |
|
3,670,773 |
|
3,670,773 |
|
|
RiverSourceSM Government Income Fund* |
|
220,834 |
|
4,751,451 |
|
|
RiverSourceSM Trust Stable Capital Fund I* |
|
246,771 |
|
5,292,315 |
|
|
|
|
|
|
|
|
|
U.S. Government Obligations: |
|
|
|
|
|
|
FNMA 30YR TBA |
|
1,550,000 |
|
1,496,234 |
|
|
FNMA 15YR TBA 5.50% |
|
1,000,000 |
|
999,688 |
|
|
FNMA TBA 5.5% 1/1/31 |
|
2,275,000 |
|
2,247,984 |
|
|
FNMA 15YR TBA 6.00% |
|
600,000 |
|
608,250 |
|
|
FNMA 30YR TBA 6.00% |
|
2,500,000 |
|
2,516,400 |
|
|
FNMA 30YR TBA 6.50% |
|
2,106,000 |
|
2,145,488 |
|
|
FGLMC GOLD 30YR TBA |
|
750,000 |
|
741,563 |
|
|
FHLMC TBA |
|
1,500,000 |
|
1,510,785 |
|
|
FHLMC GOLD #E92454 |
|
183,599 |
|
180,931 |
|
|
FHLMC GOLD #E97248 |
|
172,526 |
|
169,998 |
|
|
FHLMC GOLD #E99565 |
|
265,961 |
|
266,298 |
|
|
FHLMC GOLD #E99595 |
|
123,613 |
|
123,898 |
|
|
FGOLD 10YR #G12100 5.0% 5/1/16 |
|
207,383 |
|
204,996 |
|
|
FHLMC GOLD #G12141 |
|
977,694 |
|
942,787 |
|
|
FHLMC #1G1067 |
|
514,429 |
|
516,780 |
|
|
FHLMC (NON GOLD) ARM #1G2450 |
|
687,585 |
|
695,040 |
|
|
FHLMC #1G2496 ARM |
|
221,570 |
|
223,495 |
|
|
FHLMC #G10559 GOLD 7.00% |
|
22,728 |
|
23,362 |
|
|
FHLMC #G10561 GOLD 7.00% |
|
24,352 |
|
25,032 |
|
|
FHLMC #C66537 |
|
52,059 |
|
53,566 |
|
|
FHLMC #C66594 |
|
59,393 |
|
61,234 |
|
|
FHLMC 15YR #E00546 5.50% |
|
43,008 |
|
43,177 |
|
|
FHLMC GOLD #E00593 |
|
50,620 |
|
50,807 |
|
|
FHLMC GOLD #B12280 |
|
155,369 |
|
155,566 |
|
|
FHLMC #2113 |
|
2,330 |
|
2,329 |
|
|
FED HOME LN BANK 4.625% 1/18/08 |
|
390,000 |
|
387,839 |
|
|
FHLB 5.25% 2/13/08 |
|
720,000 |
|
720,379 |
|
|
FHLMC #E20124 GOLD |
|
10,909 |
|
11,193 |
|
|
FHLMC 2403-DA |
|
141,894 |
|
141,217 |
|
|
FHLMC REF NOTE |
|
255,000 |
|
255,327 |
|
|
FHLMC REFERENCE NOTES |
|
262,000 |
|
257,563 |
|
|
FHLMC 3.875% 6/15/08 |
|
130,000 |
|
127,786 |
|
|
FHLMC 4% 8/17/07 |
|
930,000 |
|
922,874 |
|
|
FHLMC #780514 ARM |
|
131,247 |
|
129,315 |
|
16
|
Identity of Issue, Borrower, Lessor, or Similar Party |
|
Number of |
|
Current Value |
|
|
Income Fund (continued) – |
|
|
|
|
|
|
FNMA BENCHMARK 4.5% 10/15/08 |
|
1,266,000 |
|
1,254,705 |
|
|
FNMA 7/27/07 |
|
706,000 |
|
699,099 |
|
|
FNMA 10/28/08 |
|
813,000 |
|
816,432 |
|
|
FNMA #190517 |
|
7,072 |
|
7,128 |
|
|
FNMA #190888 |
|
38,840 |
|
39,278 |
|
|
FNMA #250800 7.50% |
|
23,367 |
|
24,107 |
|
|
FNMA #252016 |
|
29,434 |
|
30,385 |
|
|
FNMA 15YR #252260 6.00% |
|
75,538 |
|
76,718 |
|
|
FNMA #254187 |
|
50,901 |
|
50,687 |
|
|
FNMA #254190 |
|
9,409 |
|
9,459 |
|
|
FNMA #254757 |
|
63,595 |
|
62,767 |
|
|
FNMA #254774 |
|
88,081 |
|
88,368 |
|
|
FNMA #255488 |
|
244,112 |
|
245,071 |
|
|
FNMA #323812 6% 7/1/29 |
|
1,329,483 |
|
1,343,825 |
|
|
FNMA #357324 |
|
645,142 |
|
624,278 |
|
|
FNMA #360800 |
|
297,732 |
|
298,907 |
|
|
FNMA #387357 |
|
492,172 |
|
500,923 |
|
|
FNMA #387549 |
|
441,854 |
|
430,463 |
|
|
FNMA #433679 |
|
98,743 |
|
100,101 |
|
|
FNMA #462236 |
|
249,212 |
|
251,769 |
|
|
FNMA #462237 |
|
299,100 |
|
303,808 |
|
|
FNMA #535003 |
|
63,770 |
|
65,628 |
|
|
FNMA #535219 |
|
49,301 |
|
51,168 |
|
|
FNMA #535802 |
|
72,211 |
|
74,304 |
|
|
FNMA #545874 |
|
137,805 |
|
141,270 |
|
|
FNMA #555432 |
|
955,199 |
|
945,462 |
|
|
FNMA #555528 |
|
533,589 |
|
538,459 |
|
|
FNMA #555531 |
|
869,104 |
|
860,244 |
|
|
FNMA #635227 |
|
205,447 |
|
211,845 |
|
|
FNMA #635894 |
|
46,401 |
|
47,673 |
|
|
FNMA #636030 |
|
74,235 |
|
76,148 |
|
|
FNMA #638210 |
|
48,148 |
|
49,319 |
|
|
FNMA #640996 |
|
63,713 |
|
66,226 |
|
|
FNMA #646456 |
|
286,416 |
|
294,632 |
|
|
FNMA #647989 |
|
378,380 |
|
389,235 |
|
|
FNMA #648349 |
|
201,643 |
|
205,016 |
|
|
FNMA #653145 |
|
158,505 |
|
161,152 |
|
|
FNMA ARM #654285 |
|
83,046 |
|
83,514 |
|
|
FNMA #659930 |
|
835,733 |
|
843,359 |
|
|
FNMA #667787 |
|
125,648 |
|
125,888 |
|
|
FNMA #670891 |
|
227,697 |
|
226,556 |
|
17
|
Identity of Issue, Borrower, Lessor, or Similar Party |
|
Number of |
|
Current Value |
|
|
Income Fund (continued) – |
|
|
|
|
|
|
FNMA 2002-W10 A3 |
|
3,146 |
|
3,133 |
|
|
FNMA 2003-W11 A1 |
|
5,369 |
|
5,396 |
|
|
FNMA #200394 |
|
221,501 |
|
220,666 |
|
|
FHLMC 2617 HD |
|
188,999 |
|
194,734 |
|
|
FNMA 2003-W19-1A6 |
|
575,000 |
|
568,610 |
|
|
FNMA 2003-133 GB |
|
57,417 |
|
60,508 |
|
|
FHLMC_2641 |
|
156,894 |
|
161,023 |
|
|
FNMA 2004-W3 A15 |
|
198,929 |
|
197,401 |
|
|
FNMA 2004-60 PA |
|
289,267 |
|
289,087 |
|
|
FHLMC 2657 NT |
|
142,197 |
|
141,456 |
|
|
FHLMC 2672 NT |
|
237,189 |
|
235,870 |
|
|
FHLMC 2662 DB |
|
109,675 |
|
109,092 |
|
|
FHLMC 2726 AG |
|
51,115 |
|
50,896 |
|
|
FHLMC 2750 DB |
|
317,392 |
|
313,870 |
|
|
FHLMC 2770 ON |
|
413,272 |
|
396,213 |
|
|
FHLMC 2843-BA |
|
194,854 |
|
192,769 |
|
|
FHLMC 2907-AG |
|
236,621 |
|
230,538 |
|
|
FHLMC 3154-AN |
|
575,000 |
|
564,918 |
|
|
FHMS 2006-K1-A2 |
|
573,082 |
|
580,418 |
|
|
FNMA #682229 5.5% 3/1/33 |
|
701,417 |
|
694,411 |
|
|
FNMA #683387 |
|
959,806 |
|
950,022 |
|
|
FNMA #695838 |
|
152,249 |
|
152,687 |
|
|
FNMA #699883 |
|
949,557 |
|
939,878 |
|
|
FNMA #702427 |
|
263,544 |
|
261,325 |
|
|
FNMA #703937 |
|
42,888 |
|
42,970 |
|
|
FNMA #704265 |
|
979,275 |
|
969,293 |
|
|
FNMA #705304 |
|
170,595 |
|
167,377 |
|
|
FNMA #720399 |
|
193,312 |
|
193,758 |
|
|
FNMA #720422 |
|
123,715 |
|
124,013 |
|
|
FEDERAL NATL MTG ASSN GTD MTG PASS |
|
650,968 |
|
656,457 |
|
|
FNMA #725090 |
|
176,301 |
|
170,838 |
|
|
FNMA #725232 |
|
997,257 |
|
964,676 |
|
|
FNMA #725284 |
|
127,647 |
|
131,393 |
|
|
FNMA #725425 |
|
180,362 |
|
178,535 |
|
|
FNMA #725773 |
|
933,753 |
|
923,742 |
|
|
FNMA #725815 |
|
383,504 |
|
386,737 |
|
|
FNMA #735057 |
|
338,032 |
|
326,894 |
|
|
FNMA #740843 |
|
117,643 |
|
115,930 |
|
|
FNMA #741897 |
|
226,653 |
|
219,248 |
|
|
FNMA #745563 |
|
298,895 |
|
295,848 |
|
|
FNMA #745629 |
|
588,797 |
|
583,309 |
|
18
|
Identity of Issue, Borrower, Lessor, or Similar Party |
|
Number of |
|
Current Value |
|
|
Income Fund (continued) – |
|
|
|
|
|
|
FNMA #745802 |
|
703,754 |
|
708,519 |
|
|
FNMA #747019 |
|
112,245 |
|
110,553 |
|
|
FNMA #754297 |
|
89,989 |
|
87,723 |
|
|
FNMA #759123 |
|
135,551 |
|
133,979 |
|
|
FNMA #761141 |
|
576,484 |
|
568,001 |
|
|
FNMA #763578 |
|
928,661 |
|
935,621 |
|
|
FNMA #764082 |
|
201,051 |
|
198,290 |
|
|
FNMA #764156 |
|
162,206 |
|
159,066 |
|
|
FNMA #766731 |
|
796,912 |
|
770,351 |
|
|
FNMA #780582 |
|
204,498 |
|
202,165 |
|
|
FNMA ARM #786628 |
|
140,557 |
|
141,022 |
|
|
FNMA #794787 |
|
213,580 |
|
211,079 |
|
|
FNMA ARM #799769 |
|
158,324 |
|
157,225 |
|
|
FNMA ARM #801344 |
|
181,098 |
|
180,966 |
|
|
FNMA #22092 5.5% 9/1/34 |
|
392,790 |
|
388,786 |
|
|
FNMA #809534 5.09% 2/01/35 |
|
238,876 |
|
238,201 |
|
|
FNMA ARM #815264 |
|
341,116 |
|
340,378 |
|
|
FNMA 10/1 HYBRID ARM 5.1% 8/1/35 |
|
471,645 |
|
464,052 |
|
|
FNMA ARM #820545 |
|
342,963 |
|
338,816 |
|
|
FNMA ARM #826908 |
|
399,826 |
|
393,973 |
|
|
FNMA #844705 |
|
516,539 |
|
517,345 |
|
|
FNMA #844816 |
|
284,557 |
|
288,792 |
|
|
FNMA ARM #845070 |
|
675,978 |
|
672,490 |
|
|
FNMA ARM #847988 |
|
553,847 |
|
557,021 |
|
|
FNMA ARM #849082 |
|
395,132 |
|
397,538 |
|
|
FNMA ARM #849170 |
|
403,979 |
|
406,485 |
|
|
FNMA #865689 |
|
483,765 |
|
490,571 |
|
|
FNMA #865818 |
|
601,847 |
|
608,931 |
|
|
FNMA ARM #866097 |
|
356,991 |
|
363,242 |
|
|
FNMA ARM #872753 |
|
191,708 |
|
192,884 |
|
|
FNMA #883267 |
|
342,183 |
|
350,987 |
|
|
FNMA #886054 |
|
288,838 |
|
298,465 |
|
|
FNMA ARM #886461 |
|
186,595 |
|
188,966 |
|
|
FNMA ARM #887096 |
|
406,236 |
|
411,241 |
|
|
FNMA ARM #900197 |
|
274,939 |
|
276,652 |
|
|
FNMA ARM #901922 |
|
248,728 |
|
250,438 |
|
|
GNMA II #003920 |
|
499,222 |
|
504,935 |
|
|
GNMA 2006-32-A |
|
648,684 |
|
645,706 |
|
|
GNMA 2006-30-A |
|
865,603 |
|
843,996 |
|
|
GNMA 2004-60 A |
|
628,034 |
|
615,323 |
|
|
VENDEE 2003-2 D |
|
77,450 |
|
76,936 |
|
19
|
Identity of Issue, Borrower, Lessor, or Similar Party |
|
Number of |
|
Current Value |
|
|
|
Income Fund (continued) – |
|
|
|
|
|
|
|
U.S. TREASURY BOND 6.25% 8/15/23 |
|
343,000 |
|
394,798 |
|
|
|
U.S. TREASURY BOND 6.00% 2/15/26 |
|
240,000 |
|
272,194 |
|
|
|
UST INFLATION INDEX 3.375% 1/15/07 |
|
2,840,000 |
|
3,608,975 |
|
|
|
U.S. TREASURY NOTE 3.625% 6/30/07 |
|
352,000 |
|
349,635 |
|
|
|
U.S. TREASURY NOTE 4.88% 10/31/08 |
|
520,000 |
|
520,244 |
|
|
|
U.S. TREASURY NOTE 4.63% 10/31/11 |
|
1,240,000 |
|
1,235,495 |
|
|
|
U.S. TREASURY NOTE 4.63% 11/15/16 |
|
130,000 |
|
129,147 |
|
|
|
U.S. TREASURY NOTE 4.50% 11/30/11 |
|
1,380,000 |
|
1,367,710 |
|
|
|
FHLMC CMO 6.085% 9/25/29 |
|
113,802 |
|
113,859 |
|
|
|
FEDERAL HOME LOAN BANK 4.63% 11/21/08 |
|
2,640,000 |
|
2,620,279 |
|
|
|
FEDERAL HOME LOAN BANK 4.63% 2/8/08 |
|
695,000 |
|
690,756 |
|
|
|
FNMA 2004-W10 A23 |
|
324,000 |
|
321,691 |
|
|
|
|
|
|
|
|
|
|
|
Accrued Income and Wrappers: |
|
|
|
|
|
|
|
Synthetic Accrued Income |
|
|
|
405,323 |
|
|
|
AIG Wrapper |
|
|
|
20,011 |
|
|
|
Bank of America Wrapper |
|
|
|
18,144 |
|
|
|
IXIS Wrapper |
|
|
|
14,190 |
|
|
|
JP Morgan Chase Wrapper |
|
|
|
16,972 |
|
|
|
Met Life Wrapper |
|
|
|
13,150 |
|
|
|
Monumental II Wrapper |
|
|
|
5,401 |
|
|
|
Monumental V Wrapper |
|
|
|
8,314 |
|
|
|
Pacific Life Wrapper |
|
|
|
16,036 |
|
|
|
Rabobank Wrapper |
|
|
|
15,945 |
|
|
|
RBC I Wrapper |
|
|
|
6,946 |
|
|
|
RBC II Wrapper |
|
|
|
8,314 |
|
|
|
State Street Wrapper |
|
|
|
13,458 |
|
|
|
UBS Wrapper |
|
|
|
17,342 |
|
|
|
Total Income Fund |
|
|
|
87,247,074 |
|
|
|
|
|
|
|
|
|
|
|
Loans to Participants* |
|
|
|
|
|
|
|
Various, 4.0% – 9.5%, due 1/07 – 10/36 |
|
|
|
18,805,370 |
|
|
|
Less: Deemed distributions |
|
|
|
(228,676 |
) |
|
|
Net participant loans |
|
|
|
18,576,694 |
|
|
|
|
|
|
|
|
|
|
|
Assets Held at End of Year per Form 5500 |
|
|
|
$ |
892,904,376 |
|
* Indicates Party-in-interest
20
THE PLAN. Pursuant to the requirements of the Securities Exchange Act of 1934, the Employee Benefits Administration Committee has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
AMERIPRISE FINANCIAL 401(k) PLAN |
||
|
|
|
By |
/s/ Michelle Rudlong |
|
|
|
Michelle Rudlong |
|
|
|
|
Delegate |
|
|
|
|
Employee Benefits Administration Committee |
|
|
|
|
|
|
|
|
|
|
|
|
Date: June 27, 2007 |
|
|
|
21
|
Exhibit |
|
Description |
|
23.1 |
|
Consent of Independent Registered Public Accounting Firm. |
22