Ameren Corporation
Savings Investment Plan
Notes to Financial Statements
December 31, 2019 and 2018
| • | | any change in law, regulation, ruling, administrative or judicial position, or accounting requirement, applicable to the stable value account or participating plans; |
| • | | the delivery of any communication to Participants designed to influence a participant’s decision to stop investing in this investment option; |
| • | | the addition of an Asset Allocation or Managed Account service without prior approval of the contract issuer, or a material change in such service. |
No events are probable of occurring that might limit the ability of the Plan to transact at contract value on behalf of the Participants.
These investment 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 investment contract if the contract value or the fair value of the underlying portfolio equals zero. The contract issuer is obligated to pay the excess contract value when the fair value is below contract value at the time of termination and termination was caused by certain events including fraud or misconduct related to the investment contracts, such as material misrepresentations. In addition, if the Plan defaults in its obligations under the investment contract (including the contract 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 investment contract, then the investment contract may be terminated by the contract 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, 2019, the Plan held 4,429,685 shares of Company common stock with a cost and fair value of $203,080,936 and $340,199,808, respectively. During 2019, the Plan purchased 424,595 shares at a cost of $30,789,037 and sold 649,343 shares valued at $47,491,507.
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.
Dividend income from Company common stock was $8,622,071 and $8,728,952 for the years ended December 31, 2019 and December 31, 2018, respectively.
At December 31, 2019 and December 31, 2018, 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 $1,443,432 and $1,085,431 for the years ended December 31, 2019 and December 31, 2018, respectively.
13