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FORM 11-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(Mark One)
[ ] ANNUAL REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES EXCHANGE
ACT OF 1934
OR
[X] TRANSITION REPORT PURSUANT TO SECTION 15(D) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from December 31, 2002 to December 31, 2002
Commission file number 0-19277
A. Full title of Plan and the address of the Plan, if different from that of the
issuer named below:
THE HARTFORD INVESTMENT AND SAVINGS PLAN
B. Name of issuer of the securities held pursuant to the Plan and the address of
its principal executive office:
THE HARTFORD FINANCIAL SERVICES GROUP, INC.
HARTFORD PLAZA, HARTFORD, CONNECTICUT 06115-1900
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THE HARTFORD INVESTMENT AND SAVINGS PLAN
TABLE OF CONTENTS
ONE DAY PERIODS ENDED DECEMBER 31, 2002 AND 2001
Pages
-----
Independent Auditors' Report F-1
Statements of Net Assets Available for Benefits as of
December 31, 2002 and 2001 F-2
Statements of Changes in Net Assets Available for Benefits
for the One Day Periods Ended December 31, 2002 and 2001 F-3
Notes to Financial Statements F-4 - F-7
Supplemental Schedule:
Form 5500 Schedule H, Part IV, Line 4i - Schedule of
Investment Assets Held at December 31, 2002 F-8 - F-11
Signature of Plan Administrator F-12
Exhibits:
Exhibit 23.1 - Independent Auditors' Consent
Exhibit 99.1 - Certification Pursuant of 18 U.S.C.
Section 1350, as Adopted Pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002
INDEPENDENT AUDITORS' REPORT
The Hartford Financial Services Group, Inc.
Hartford, Connecticut
We have audited the accompanying statement of net assets available for benefits
of The Hartford Investment and Savings Plan (the "Plan") as of December 31,
2002, and the related statement of changes in net assets available for benefits
for the one day period 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 audit.
We conducted our audit 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 audit provides a
reasonable basis for our opinion.
In our opinion, such financial statements present fairly, in all material
respects, the net assets available for benefits of the Plan as of December 31,
2002, and the changes in net assets available for benefits for the one day
period then ended in conformity with accounting principles generally accepted in
the United States of America.
Our audit was conducted for the purpose of forming an opinion on the 2002 basic
financial statements taken as a whole. The supplemental schedule listed in the
Table of Contents is presented for the purpose of additional analysis and is not
a required part of the basic 2002 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 schedule is the responsibility of the Plan's management. Such
schedule has been subjected to the auditing procedures applied in our audit of
the basic 2002 financial statements and, in our opinion, is fairly stated in all
material respects when considered in relation to the basic 2002 financial
statements taken as a whole.
The accompanying statement of net assets available for benefits as of December
31, 2001, and the related statement of changes in net assets available for
benefits for the one day period then ended were not audited by us and,
accordingly, we do not express an opinion on them.
Deloitte & Touche LLP
Hartford, Connecticut
June 27, 2003
F-1
EIN# 06-0383750
PLAN# 100
THE HARTFORD INVESTMENT AND SAVINGS PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 2002 AND 2001
($ IN THOUSANDS)
DECEMBER 31, 2002 DECEMBER 31, 2001 (UNAUDITED)
----------------------------------------------------------------------------------
NON- NON-
MEMBER MEMBER MEMBER MEMBER
TOTAL DIRECTED DIRECTED TOTAL DIRECTED DIRECTED
- -----------------------------------------------------------------------------------------------------------------------------------
ASSETS
Investments, at fair value:
The Hartford Financial Services Group,
Inc. common stock (12,614,388 and
13,473,866 (unaudited) shares at December
31, 2002 and 2001, respectively) $ 573,072 $ 422,755 $ 150,317 $ 847,028 $ 651,863 $ 195,165
Standard & Poor's 500 Index Portfolio 161,818 -- 161,818 215,137 12,477 202,660
Investment in mutual funds 315,052 -- 315,052 317,017 -- 317,017
Pooled temporary investments 31,847 8,834 23,013 27,712 -- 27,712
Investment in group annuity contracts, at
contract value 450,019 -- 450,019 358,011 -- 358,011
Investment in loans receivable 34,984 5 34,979 34,961 -- 34,961
Dividends and interest receivable 3,442 2,526 916 6,755 -- 6,755
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL ASSETS 1,570,234 434,120 1,136,114 1,806,621 664,340 1,142,281
LIABILITIES
Unsettled net security purchases (sales) 1,924 176 1,748 3,403 -- 3,403
Interfund transfers pending -- (216) 216 -- 627 (627)
Other liabilities 688 -- 688 471 -- 471
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL LIABILITIES 2,612 (40) 2,652 3,874 627 3,247
- -----------------------------------------------------------------------------------------------------------------------------------
NET ASSETS AVAILABLE FOR BENEFITS $ 1,567,622 $ 434,160 $ 1,133,462 $ 1,802,747 $ 663,713 $ 1,139,034
===================================================================================================================================
See Notes to Financial Statements.
F-2
EIN# 06-0383750
PLAN# 100
THE HARTFORD INVESTMENT AND SAVINGS PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE ONE DAY PERIODS ENDED DECEMBER 31, 2002 AND 2001
($ IN THOUSANDS)
DECEMBER 31, 2002 DECEMBER 31, 2001 (UNAUDITED)
----------------------------------------------------------------------------------
NON- NON-
MEMBER MEMBER MEMBER MEMBER
TOTAL DIRECTED DIRECTED TOTAL DIRECTED DIRECTED
- -----------------------------------------------------------------------------------------------------------------------------------
ADDITIONS (DEDUCTIONS) TO NET ASSETS ATTRIBUTED
TO:
Investment income:
Net realized and change in unrealized
gains/losses $ (102) $ (1,030) $ 928 $ (3,373) $ 311 $ (3,684)
Dividends and interest 30 -- 30 -- -- --
- -----------------------------------------------------------------------------------------------------------------------------------
Total investment income (loss) (72) (1,030) 958 (3,373) 311 (3,684)
Interest on participant loans 106 2 104 -- -- --
Employee contributions 3,237 -- 3,237 -- -- --
Employer contributions, net of forfeitures 1,362 1,105 257 (632) (632) --
Rollovers 23 -- 23 (2) -- (2)
Other, net 827 (1,000) 1,827 (6,295) 950 (7,245)
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL ADDITIONS (DEDUCTIONS) 5,483 (923) 6,406 (10,302) 629 (10,931)
DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO:
Interfund transfers -- 159 (159) -- 148 (148)
Loans to participants -- -- -- 2 -- 2
Administrative expenses -- -- -- 480 146 334
Benefits paid to members (889) (19) (870) (245) (70) (175)
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL ADDITIONS (DEDUCTIONS) (889) 140 (1,029) 237 224 13
- -----------------------------------------------------------------------------------------------------------------------------------
NET INCREASE (DECREASE) 4,594 (783) 5,377 (10,065) 853 (10,918)
- -----------------------------------------------------------------------------------------------------------------------------------
Net assets available for benefits
Beginning of Period $ 1,563,028 $ 434,943 $ 1,128,085 $ 1,812,812 $ 662,860 $ 1,149,952
- -----------------------------------------------------------------------------------------------------------------------------------
END OF PERIOD $ 1,567,622 $ 434,160 $ 1,133,462 $ 1,802,747 $ 663,713 $ 1,139,034
===================================================================================================================================
See Notes to Financial Statements.
F-3
THE HARTFORD INVESTMENT AND SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
ONE DAY PERIODS ENDED DECEMBER 31, 2002 AND 2001
($ AND SHARES IN THOUSANDS)
NOTE 1. DESCRIPTION OF THE PLAN
The following description of The Hartford Investment and Savings Plan (the
"Plan") is provided for general information purposes only. Participants should
refer to the Plan Document for more complete information.
The Hartford Financial Services Group, Inc., a Delaware corporation, and its
consolidated subsidiaries ("The Hartford" or the "Company") provide investment
products and life and property and casualty insurance to both individual and
commercial customers in the United States and internationally.
Information with regard to eligibility, contributions, distributions, vesting,
trustees, withdrawals, restoration, loans, fund redistribution and definitions
of all capitalized terms are contained in the Plan's information document, which
has been distributed to the participants.
Plan Changes
- ------------
Effective January 1, 2003, the plan year changed from a fiscal year ending
December 30 to a calendar year ending December 31.
These financial statements, schedule and footnotes present the financial
information of the Plan for the one day period from the end of the last reported
plan year (December 30, 2002) to the end of the new plan year (December 31,
2002). Unaudited financial information for the comparable prior year period is
also shown.
There have been no amendments to the Plan document during these reporting
periods.
General
- -------
The Plan is a defined contribution plan covering all full-time and part-time
employees of the Company who have attained age 19. The Plan is subject to the
provisions of the Employee Retirement Income Security Act of 1974 ("ERISA").
The Trust, as defined in the Plan document, is the aggregate funds held by the
Trustee, Deutsche Bank Trust Company, under the trust agreement established for
the purposes of this Plan, or the aggregate funds held under an insurance
contract or contracts established within The Hartford or its affiliates.
Contributions
- -------------
Plan members may generally elect to save 2% to 30% of base salary. Members may
designate their savings as before-tax, after-tax or a combination of both.
Members who are highly compensated employees may be limited to less than 16% due
to the operation of certain tests required under the Internal Revenue Code of
1986, as amended (the "Code").
Basic Before-Tax Savings are contributions which are not in excess of the first
6% of base salary. An amount equal to 50% of a member's Basic Before-Tax Savings
is matched by the Company. Members' savings in excess of 6% of base salary are
supplemental savings that are not matched by Company contributions. In addition,
the Company allocates 0.5% of base salary ("Floor Company contributions") to the
Floor Company Contribution Account of each eligible employee.
On December 30, 2001 for the 2002 Plan year, the Company guaranteed a fixed
minimum contribution (based on a percentage of the amount of employer
contributions normally made) that represents the employee salary deferral
contributions and matching contributions for the subsequent Plan year. If actual
contributions were less than the guaranteed fixed minimum amount at the end of
the Plan year, an additional matching contribution would be made to the
participants. The minimum contribution was met for the 2002 and 2001 plan years.
Administrative Costs
- --------------------
The Trust, as defined by the Plan, pays certain administrative expenses of the
Plan up to 0.25% of the market value of Trust assets. Expenses not paid by the
Trust are borne by the Company.
F-4
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
Member Accounts
- ---------------
Each member's account is credited with that member's contributions and
allocations of (a) the Company's contribution and (b) Plan earnings, and is
charged with an allocation of administrative expenses. Allocations are based on
member earnings or account balances, as defined in the Plan document. The
benefit to which a member is entitled is the benefit that can be provided from
that member's vested account.
Vesting
- -------
Vesting in Company matched contributions begins one year after employment at 20%
and increases 20% each consecutive year until the fifth consecutive year of
employment when 100% is vested. Notwithstanding, a member becomes fully vested
in such member's Company contribution account upon retirement (for certain
members), disability, death, or upon reaching age 65, or the complete
discontinuance of Company contributions or upon termination of the Plan. Floor
contributions are 100% vested when allocated to each member's account.
Investment Options
- ------------------
Contributions of member savings and company contributions are invested in any
one of 16 funds in multiples of 1%, as elected by the member ("member directed
investments"). All investment options are party-in-interest with The Hartford or
certain of its subsidiaries.
Participant Loans
- -----------------
Members may borrow from their fund accounts a minimum of $1 to a maximum equal
to the lesser of $50 or 50% of their vested account balances. Loan transactions
are treated as transfers from (to) the investment funds to (from) the loan fund.
Loan terms range from one to five years, or up to 15 years for the purchase of a
primary residence. The loan is secured by the balance in the member's account
and bears interest at the prime rate in the quarter the loan originates (as
published in the Wall Street Journal) plus 1% and is fixed for the term of the
loan.
Payment of Benefits
- -------------------
On termination of service due to death, disability, retirement, or other
reasons, members or their designated beneficiaries may elect to receive a lump
sum amount equal to the value of the vested interest in their respective
accounts; subject to certain conditions, annual installments over a period not
greater than thirty years; annual installments over the recipient's life
expectancy; or stock distributions. Members or their designated beneficiaries
may also elect to defer distributions subject to certain conditions. These
benefits are recorded when paid.
Forfeitures
- -----------
There were no forfeitures during the one day reporting periods.
NOTE 2. ACCOUNTING POLICIES
BASIS OF ACCOUNTING - The accompanying financial statements have been prepared
in accordance with accounting principles generally accepted in the United States
of America, using 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 and the
Department of Labor Rules and Regulations for Reporting and Disclosure under
ERISA requires management of the Plan to make estimates and assumptions that
affect the reported amounts of assets and liabilities and changes therein, and
disclosure of contingent assets and liabilities at the date of the financial
statements and the reported amounts of additions and deletions during the
reporting period. Actual results could differ from those estimates. The Plan
utilizes various investment instruments, including mutual funds and investment
contracts. Investment securities, in general, are exposed to various risks, such
as interest rate, credit and overall market volatility. Due to the level of risk
associated with certain investment securities, it is possible that changes in
the values of investment securities may occur in the near term and that such
changes could affect the amounts reported in the financial statements.
F-5
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
NOTE 3. INVESTMENTS
The following investments represented 5% or more of the Plan's net assets:
DECEMBER, 31 DECEMBER 31,
2002 2001
(UNAUDITED)
---------------------------------------------------------------------------------------------------------------------
The Hartford Financial Services Group, Inc. common stock (12,614 and 13,474
(unaudited) shares at December 31, 2002 and 2001, respectively) $ 573,072* $ 847,028
Standard & Poor's 500 Index Portfolio 161,818 215,137
Stable Value Fund - group annuity contracts 450,019 358,011
=====================================================================================================================
<FN>
* - Includes non-member directed assets
</FN>
For the one day periods ended December 31, 2002 and 2001, the Plan's net
realized and change in unrealized gains and losses were as follows:
DECEMBER, 31 DECEMBER 31,
2002 2001
(UNAUDITED)
---------------------------------------------------------------------------------------------------------------------
The Hartford Financial Services Group, Inc. common stock $ (1,396) $ 407
Standard & Poor's 500 Index Portfolio 106 (2,390)
Investment in mutual funds 1,188 (1,390)
---------------------------------------------------------------------------------------------------------------------
Net realized and unrealized losses $ (102) $ (3,373)
=====================================================================================================================
NOTE 4. VALUATION OF INVESTMENTS
Plan investments, except group annuity contracts, are reported at fair value.
The fair value of the underlying common stock of The Hartford Financial Services
Group, Inc. Stock Fund is based on quoted market prices. Interests in mutual
funds and pooled investment funds are valued at the redemption price established
by the trustee or the investment manager of the respective fund at the Plan's
year-end.
Purchases and sales of securities are recorded on the trade date. Interest
income is recorded on the accrual basis. Dividends are recorded on the
ex-dividend date.
The Plan has entered into numerous traditional and synthetic group annuity
contracts primarily with insurance carriers. These contracts, which are included
in the Stable Value Fund, are fully benefit responsive and are included in the
financial statements at contract value. Fully benefit responsive contracts
provide for a stated return on principal invested over a specified period and
permit withdrawals at contract value for benefit payments, loans or transfers.
Contract value represents contributions made under the contract, plus earnings,
less Plan withdrawals and administrative expenses. As of December 31, 2002 and
2001, the estimated fair value of the group annuity contracts was $450,019 and
$358,011 (unaudited), respectively. There are no reserves against contract value
for credit risk of control issuer or otherwise. The average yield and weighted
average crediting interest rate on these contracts were 6.02% and 5.91%
(unaudited), respectively, for the years ended December 31, 2002 and 2001, and
6.54% and 6.33% (unaudited), respectively, for the years ended December 31, 2002
and 2001. Crediting interest rates are generally reset quarterly for synthetic
contracts and are reset based on formulas which may use market value, book
value, duration and yield. A synthetic group annuity contract is an investment
contract that simulates the performance of a traditional group annuity contract
through the use of financial instruments. A key difference between a synthetic
group annuity contract and a traditional group annuity contract is that the Plan
owns the assets underlying the synthetic group annuity contract. Traditional
group annuity contracts have fixed crediting interest rates.
F-6
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
NOTE 5. FEDERAL INCOME TAX STATUS
The Internal Revenue Service has determined and informed the Company by letter
dated February 25, 1998 that the Plan and related Trust are designed in
accordance with applicable sections of the Internal Revenue Code (IRC). The Plan
has been amended since receiving the determination letter. The Company, 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 IRC.
NOTE 6. PLAN TERMINATION
Although the Company has not expressed any intent to do so, the Company has the
right under the Plan to suspend, reduce, or partially or completely discontinue
its contributions at any time and to terminate the Plan, the trust agreement and
the Trust hereunder, subject to the provisions of ERISA. In the event of
termination or partial termination of the Plan or complete discontinuance of
contributions, the interest of affected members shall automatically become
non-forfeitable.
NOTE 7. RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
As of December 31, 2002 and 2001, the following is a reconciliation of net
assets available for plan benefits according to the accompanying financial
statements to Form 5500:
DECEMBER 31, DECEMBER 31,
2002 2001
(UNAUDITED)
---------------------------------------------------------------------------------------------------------------------
Net assets available for plan benefits per financial statements $ 1,567,622 $ 1,802,747
Amounts allocated to withdrawing members (352) (55)
---------------------------------------------------------------------------------------------------------------------
Net assets available for plan benefits per Form 5500 $ 1,567,270 $ 1,802,692
=====================================================================================================================
The following is a reconciliation of benefits paid to members according to the
accompanying financial statements to Form 5500:
DECEMBER 31, DECEMBER 31,
2002 2001
(UNAUDITED)
---------------------------------------------------------------------------------------------------------------------
Benefits paid to members per financial statements $ 889 $ 245
Amounts allocated to withdrawing members at end of period 352 55
Amounts allocated to withdrawing members at beginning of period (885) (117)
---------------------------------------------------------------------------------------------------------------------
Benefits paid to members per Form 5500 $ 356 $ 183
=====================================================================================================================
Amounts allocated to withdrawing members are recorded on Form 5500 for benefit
claims that have been processed and approved for payment prior to the end of the
Plan year but not paid as of that date.
NOTE 8. PARTY-IN-INTEREST TRANSACTIONS
Certain Plan investments are held in funds managed by Deutsche Bank Trust
Company, the Trustee, as defined by the Plan, and certain subsidiaries of The
Hartford. There were no fees paid by the plan for Trustee, custodial and
investment services management during these reporting periods. In addition,
certain Plan investments are shares of The Hartford common stock. At December
31, 2002 and 2001, the Plan held 12,614 shares and 13,474 (unaudited) shares of
common stock of The Hartford, the sponsoring employer, with a cost basis of
$479,646 and $486,644 (unaudited), respectively. There were no dividends related
to the shares of The Hartford common stock recorded during the one day periods
ended December 31, 2002 and 2001.
NOTE 9. SUBSEQUENT EVENT
Effective January 1, 2003, Deutsche Bank was removed as Trustee of the Plan
Trust and State Street Bank and Trust Company was appointed as Trustee.
F-7
EIN# 06-0383750
PLAN# 100
THE HARTFORD INVESTMENT AND SAVINGS PLAN SUPPLEMENTAL SCHEDULE
FORM 5500, SCHEDULE H, PART IV, LINE 4I - SCHEDULE OF INVESTMENT ASSETS HELD AT
DECEMBER 31, 2002
($ IN THOUSANDS)
(C) DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, (E) CURRENT
(A) (B) IDENTITY OF PARTY RATE OF INTEREST, COLLATERAL, PAR OR MATURITY VALUE (D) COST VALUE
- ------------------------------------------------------------------------------------------------------------------------------------
The Hartford Financial Services Group, Inc. Stock Fund
------------------------------------------------------
* The Hartford Financial The Hartford Financial Services Group, Inc. common stock
Services Group, Inc. (12,614,388 shares) $ 479,646 $ 573,072
* Deutsche Bank Trust Company DB Pyramid Directed Account Cash Fund - STIF 11,975 11,975
-------------
SUBTOTAL 585,047
-------------
Stock Fund
----------
* The Hartford Financial Hartford Mutual Funds, Inc. Stock Fund Cash Fund - Class 1A
Services Group, Inc. shares (95,722.147 shares) *** 3,394
-------------
SUBTOTAL 3,394
-------------
Clearing Account
----------------
* Deutsche Bank Trust Company BT Pyramid Directed Account *** 7,060
-------------
SUBTOTAL 7,060
-------------
Index Fund
----------
* Hartford Life Insurance
Company S&P 500 Index Portfolio Hartford - GA - 6226, S/A BI *** 161,818
-------------
SUBTOTAL 161,818
-------------
Stable Value Fund
-----------------
* Deutsche Bank Trust Company BT Pyramid Discretionary Account Cash Fund - STIF *** 11,040
Business Mens Assurance Group Annuity Contract #1412, 7.64%, 11/30/2004 *** 10,757
Canada Life Assurance
Company Group Annuity Contract P26092, 5.77%, 2/28/2005 *** 7,381
General Electric Capital
Assurance Company Group Annuity Contract #GS3614GECA, 5.92%, 6/01/2006 *** 5,418
Monumental Life Insurance
Company Group Annuity Contract #MDA00380TR, 4.64% 1/25/2015 *** 35,611
Monumental Life Insurance
Company Group Annuity Contract #ADA00212TR, 6.01% ** *** 69,487
<FN>
* Indicates party-in-interest.
** These synthetic portfolios have no final maturity. Final maturity is based
on the underlying assets in the bond portfolios.
*** Cost information is not required for member directed investments, and
therefore is not included.
</FN>
F-8
EIN# 06-0383750
PLAN# 100
THE HARTFORD INVESTMENT AND SAVINGS PLAN SUPPLEMENTAL SCHEDULE
FORM 5500, SCHEDULE H, PART IV, LINE 4I - SCHEDULE OF INVESTMENT ASSETS HELD AT
DECEMBER 31, 2002
($ IN THOUSANDS)
(C) DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, (E) CURRENT
(A) (B) IDENTITY OF PARTY RATE OF INTEREST, COLLATERAL, PAR OR MATURITY VALUE (D) COST VALUE
- ------------------------------------------------------------------------------------------------------------------------------------
Morgan Guaranty Trust Company
Group Annuity Contract #AITTH01, 5.99% ** $ *** $ 114,615
Principal Life Insurance 11,232
Company Group Annuity Contract #GA 4-36623, 5.78%, 01/21/2004 ***
Protective Life Insurance
Company Group Annuity Contract #GA 1629, 7.34%, 5/30/2003 *** 1,855
Security Benefit Life
Insurance Company Group Annuity Contract #G0105, 6.46%, 1/25/2006 *** 7,332
Transamerica Insurance
Company Group Annuity Contract #TDA76592TR, 6.00%, 1/31/2018 *** 86,732
Union Bank of Switzerland Group Annuity Contract #3024, 5.78% ** *** 99,599
-------------
SUBTOTAL 461,059
-------------
Advisers Fund
-------------
* The Hartford Financial Hartford Mutual Funds, Inc. Advisers Fund #BL416645786, Class 49,304
Services Group, Inc. 1A shares ***
-------------
SUBTOTAL 49,304
-------------
Bond Income Strategy Fund
-------------------------
* The Hartford Financial Hartford Mutual Funds, Inc. Bond Income Strategy Fund, Class 34,956
Services Group, Inc. 1A shares ***
-------------
SUBTOTAL 34,956
-------------
Money Market Fund
-----------------
* The Hartford Financial Hartford Mutual Funds, Inc. Money Market Fund, Class 1A shares 36,056
Services Group, Inc. ***
-------------
SUBTOTAL 36,056
-------------
Dividend and Growth Fund
------------------------
* The Hartford Financial Hartford Mutual Funds, Inc. Dividend and Growth Fund, Class 1A 27,019
Services Group, Inc. shares ***
-------------
SUBTOTAL 27,019
-------------
International Opportunities Fund
--------------------------------
* The Hartford Financial Hartford Mutual Funds, Inc. International Opportunities Fund, 12,055
Services Group, Inc. Class 1A shares ***
-------------
SUBTOTAL 12,055
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
* Indicates party-in-interest.
** These synthetic portfolios have no final maturity. Final maturity is based
on the underlying assets in the bond portfolios.
*** Cost information is not required for member directed investments, and
therefore is not included.
</FN>
F-9
EIN# 06-0383750
PLAN# 100
THE HARTFORD INVESTMENT AND SAVINGS PLAN SUPPLEMENTAL SCHEDULE
FORM 5500, SCHEDULE H, PART IV, LINE 4I - SCHEDULE OF INVESTMENT ASSETS HELD AT
DECEMBER 31, 2002
($ IN THOUSANDS)
(C) DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, (E) CURRENT
(A) (B) IDENTITY OF PARTY RATE OF INTEREST, COLLATERAL, PAR OR MATURITY VALUE (D) COST VALUE
- ------------------------------------------------------------------------------------------------------------------------------------
Capital Appreciation Fund
-------------------------
* The Hartford Financial Hartford Mutual Funds, Inc. Capital Appreciation Fund, Class
Services Group, Inc. 1A shares $ *** $ 60,839
-------------
SUBTOTAL 60,839
-------------
Small Company Fund
------------------
* The Hartford Financial Hartford Mutual Funds, Inc. Small Company Fund, Class 1A
Services Group, Inc. shares *** 21,497
-------------
SUBTOTAL 21,497
-------------
MidCap Fund
-----------
* The Hartford Financial
Services Group, Inc. Hartford Mutual Funds, Inc. MidCap Fund, Class 1A shares *** 47,623
-------------
SUBTOTAL 47,623
-------------
High Yield Fund
---------------
* The Hartford Financial
Services Group, Inc. Hartford Mutual Funds, Inc. High Yield Fund, Class 1A shares *** 4,369
-------------
SUBTOTAL 4,369
-------------
Global Leaders Fund
-------------------
* The Hartford Financial Hartford Mutual Funds, Inc. Global Leaders Fund, Class 1A
Services Group, Inc. shares *** 8,190
-------------
SUBTOTAL 8,190
-------------
Global Health Fund
------------------
* The Hartford Financial Hartford Mutual Funds, Inc. Global Health Fund, Class 1A
Services Group, Inc. shares *** 5,488
-------------
SUBTOTAL 5,488
-------------
Global Technology Fund
----------------------
* The Hartford Financial Hartford Mutual Funds, Inc. Global Technology Fund, Class 1A
Services Group, Inc. shares *** 4,262
-------------
SUBTOTAL 4,262
-------------
Deutsche Bank Cash Fund-STIF
-----------------------------
* Deutsche Bank Trust
Company DB Pyramid Directed Account Cash Fund-STIF *** 896
* Deutsche Bank Trust Company
Company DB Pyramid Discretionary Account Cash Fund-STIF *** 876
-------------
SUBTOTAL 1,772
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
* Indicates party-in-interest.
*** Cost information is not required for member directed investments and,
therefore is not included.
</FN>
F-10
EIN# 06-0383750
PLAN# 100
THE HARTFORD INVESTMENT AND SAVINGS PLAN SUPPLEMENTAL SCHEDULE
FORM 5500, SCHEDULE H, PART IV, LINE 4I - SCHEDULE OF INVESTMENT ASSETS HELD AT
DECEMBER 31, 2002
($ IN THOUSANDS)
(C) DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, (E) CURRENT
(A) (B) IDENTITY OF PARTY RATE OF INTEREST, COLLATERAL, PAR OR MATURITY VALUE (D) COST VALUE
- ------------------------------------------------------------------------------------------------------------------------------------
Loan Fund
---------
* Loans to Participants Loans Receivable from Participants, maturing at various
dates bearing interest at rates from 5.68% - 11.50% $ N/A $ 34,984
-------------
SUBTOTAL 34,984
-------------
TOTAL $ 1,566,792
- ------------------------------------------------------------------------------------------------------------------------------------
<FN>
* Indicates party-in-interest.
</FN>
F-11
SIGNATURE
PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934, THE PENSION
FUND TRUST AND INVESTMENT COMMITTEE OF THE HARTFORD INVESTMENT AND SAVINGS PLAN
HAS DULY CAUSED THIS ANNUAL REPORT TO BE SIGNED ON ITS BEHALF BY THE UNDERSIGNED
HEREUNTO DULY AUTHORIZED.
THE HARTFORD INVESTMENT AND SAVINGS PLAN
----------------------------------------
(NAME OF PLAN)
BY: /S/ FRANCIS A. DORION
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(FRANCIS A. DORION, PLAN ADMINISTRATOR)
JUNE 30, 2003
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(DATE)
F-12