Ameren Corporation
Savings Investment Plan
Notes to Financial Statements
December 31, 2018 and 2017
| • | | the addition of an Asset Allocation or Managed Account service without prior approval, or a material change in an existing program; |
| • | | the distribution of a prohibited communication. |
No events are probable of occurring that might limit the ability of the Plan to transact at contract value with the contract issuers and that also would limit the ability of the Plan to transact at contract value with the Participants.
These contracts are evergreen contracts and contain termination provisions, allowing the contract issuer to terminate with notice, at any time at fair value, and providing for automatic termination of the contract if the contract value or the fair value of the underlying portfolio equals zero. The issuer is obligated to pay the excess contract value when the fair value is below contract value at the time of termination. In addition, if the Plan defaults in its obligations under the contract (including the issuer’s determination that the agreement constitutes a non-exempt prohibited transaction as defined under ERISA), and such default is not corrected within the time permitted by the contract, then the contract may be terminated by the issuer and the Plan will receive the fair value as of the date of termination.
5. | Transactions with Parties-in-Interest |
Parties-in-interest are defined under Department of Labor regulations as any fiduciary of the Plan, any party rendering service to the Plan, the employer, and certain others.
At December 31, 2018, the Plan held 4,654,433 shares of Company common stock with a cost and fair value of $201,110,751 and $303,608,665, respectively. During 2018, the Plan purchased 785,010 shares at a cost of $45,870,778 and sold 931,272 shares valued at $55,517,075.
At December 31, 2017, the Plan held 4,800,695 shares of Company common stock with a cost and fair value of $194,108,887 and $283,192,998, respectively. During 2017, the Plan purchased 734,900 shares at a cost of $41,768,247 and sold 1,058,963 shares valued at $59,847,989.
Dividend income from Company common stock was $8,728,952 and $8,650,773 for the years ended December 31, 2018 and December 31, 2017, respectively.
At December 31, 2018 and December 31, 2017, the Plan held shares in the Fidelity Institutional Money Market Government Portfolio. This portfolio is managed by the Trustee, and therefore, qualifies as party-in-interest transactions. Notes receivable from Participants also reflect party-in-interest transactions.
Fees paid by the Plan to the Trustee for recordkeeping, trust services, and advisory services were $1,085,431 and $908,576 for the years ended December 31, 2018 and December 31, 2017, respectively.
Fees paid to and investments issued by various Plan investment managers also reflect party-in-interest transactions.
These transactions are allowable party-in-interest transactions under Section 408(b)(8) of ERISA.
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