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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 11-K
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1998
Commission file number: 0-23198
INTERIM SERVICES INC.
401 (k) Benefit Plan
2050 SPECTRUM BOULEVARD, FORT LAUDERDALE, FLORIDA 33309
(Address of principal executive offices) (Zip code)
(954) 938-7600
(Registrant's telephone number, including area code)
(a) Financial Statements. Filed as part of this Report on Form 11-K are the
financial statements of the Interim Services Inc. 401(k) Benefit Plan as
required by Form 11-K, together with the report thereon of Deloitte & Touche
LLP independent certified public accountants, dated June 11, 1999.
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INTERIM SERVICES INC.
401(k) BENEFIT PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 1998 AND 1997, AND THE RELATED STATEMENTS OF CHANGES IN
NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEARS THEN ENDED, ADDITIONAL
INFORMATION REQUIRED FOR FORM 5500 FOR THE YEAR ENDED DECEMBER 31, 1998 AND
INDEPENDENT AUDITORS' REPORT
INTERIM SERVICES INC.
401(k) BENEFIT PLAN
TABLE OF CONTENTS
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PAGE
INDEPENDENT AUDITORS' REPORT 1
FINANCIAL STATEMENTS AS OF DECEMBER 31, 1998 and 1997
AND FOR THE YEARS THEN ENDED:
Statements of Net Assets Available for Benefits 2
Statements of Changes in Net Assets Available for Benefits 3
Notes to Financial Statements 4 - 8
ADDITIONAL INFORMATION REQUIRED FOR FORM 5500
FOR THE YEAR ENDED DECEMBER 31, 1998:
Item 27a - Supplemental Schedule of Assets Held for Investment Purposes 9
Item 27d - Schedule of Reportable Transactions 10
Note: Certain supplemental schedules required by rules and regulations of the
Department of Labor are omitted because of the absence of conditions
under which they are required.
INDEPENDENT AUDITORS' REPORT
Administrative Committee
Interim Services Inc.
401(k) Benefit Plan
Fort Lauderdale, Florida:
We have audited the accompanying statements of net assets available for benefits
of Interim Services Inc. 401(k) Benefit Plan (the "Plan") as of December 31,
1998 and 1997, and the related statements of changes in net assets available for
benefits for the years 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 audits.
We conducted our audits in accordance with generally accepted auditing
standards. 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, such financial statements present fairly, in all material
respects, the net assets available for benefits of the Plan as of December 31,
1998 and 1997, and the changes in net assets available for benefits for the
years then ended in conformity with generally accepted accounting principles.
Our audits were conducted for the purpose of forming an opinion on the basic
financial statements taken as a whole. The accompanying supplemental schedules
of (1) assets held for investment purposes as of December 31, 1998 and (2)
reportable transactions for the year ended December 31, 1998 are presented for
the purpose of additional analysis and are not a required part of the basic
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 schedules are the
responsibility of the Plan's management. Such schedules have been subjected to
the auditing procedures applied in our audit of the basic 1998 financial
statements and, in our opinion, are fairly stated in all material respects when
considered in relation to the basic financial statements taken as a whole.
/s/ Deloitte & Touche LLP
Fort Lauderdale, Florida
June 11, 1999
INTERIM SERVICES INC.
401(k) BENEFIT PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER 31, 1998 AND 1997
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ASSETS 1998 1997
INVESTMENTS, FAIR VALUE:
SHARES OF REGISTERED INVESTMENT COMPANIES:
Franklin Growth Fund (408,466 shares) $11,065,339
MFS Research Fund A (133,731 shares) 2,847,137
Masterworks LifePath 2040 (37,114 shares) 642,450
Masterworks LifePath 2030 (32,780 shares) 532,014
Masterworks LifePath 2020 (351,442 shares) 5,208,364
Masterworks LifePath 2010 (27,733 shares) 368,851
Strong Government Securities Fund (150,612 shares) 1,619,077
Warburg Pincus International Equity Fund (59,116 shares) 1,005,559
Invesco Stable Value Fund (5,101,715 shares) 5,101,715
Interim Unitized Fund (131,032 shares) 1,823,962
T. Rowe Price Stable Value Fund (5,221,392 shares) $5,221,392
T. Rowe Price International Stock Fund (103,602 shares) 1,552,991
T. Rowe Price Spectrum Income Fund (176,120 shares) 2,025,377
T. Rowe Price Dividend Growth Fund (590,206 shares) 12,990,442
T. Rowe Price Personal Strategy Income Fund (78,146 shares) 1,036,991
T. Rowe Price Personal Strategy Balanced Fund (363,106 shares) 5,773,383
T. Rowe Price Personal Strategy Growth Fund (160,386 shares) 2,935,070
T. Rowe Price Mid-Cap Growth Fund (157,956 shares) 5,383,136
T. Rowe Price Small-Cap Stock Fund (4,542 shares) 94,430
T. Rowe Price Equity Index Trust (17,132 shares) 545,824
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Total registered investment company stocks 37,559,036 30,214,468
STOCK FUND:
Interim Services Inc. common stock (114,749 shares) 2,682,256
PARTICIPANT LOANS RECEIVABLE 959,014 504,113
Total investments 41,200,306 30,718,581
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CONTRIBUTIONS RECEIVABLE:
Employer 972,452
Participant 211,773
-----------
Total contributions receivable 1,184,225
UNINVESTED CASH 2,068
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NET ASSETS AVAILABLE FOR BENEFITS $42,386,599 $30,718,581
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See accompanying notes to financial statements.
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INTERIM SERVICES INC.
401(k) BENEFIT PLAN
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
YEARS ENDED DECEMBER 31, 1998 AND 1997
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1998 1997
ADDITIONS:
Net appreciation in fair value of investments $2,680,971 $4,438,058
Dividend income 1,462,924 642,381
Interest income 72,470 111,435
Employee contributions 9,767,579 7,781,467
Employer contributions 2,502,488 846,622
Employee rollovers 102,716 8,759,964
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Total additions 16,589,148 22,579,927
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DEDUCTIONS:
Savings plan distributions (4,821,858) (3,683,491)
Asset management fee (99,272) (56,680)
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Total deductions (4,921,130) (3,740,171)
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NET INCREASE 11,668,018 18,839,756
NET ASSETS AVAILABLE FOR BENEFITS,
BEGINNING OF YEAR 30,718,581 11,878,825
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NET ASSETS AVAILABLE FOR BENEFITS,
END OF YEAR $42,386,599 $30,718,581
---------- ----------
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See accompanying notes to financial statements.
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INTERIM SERVICES INC.
401(k) BENEFIT PLAN
NOTES TO FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 1998 AND 1997
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1. SIGNIFICANT ACCOUNTING POLICIES
BASIS OF ACCOUNTING - The financial statements of the Interim Services
Inc. 401(k) Benefit Plan (the "Plan") have been prepared on the accrual
basis of accounting.
USE OF ESTIMATES - The preparation of financial statements in conformity
with generally accepted accounting principles requires management to make
estimates and assumptions that affect certain reported amounts and
disclosures. Actual results could differ from those estimates.
INVESTMENTS - Investments are stated at fair value, determined using
quoted market prices. Net appreciation or depreciation in fair value of
investments is determined by using the beginning of the year values or
purchase price if acquired during the year. Participant loans receivable
bear a prime interest rate and are collectible over a period not to exceed
five years.
FORFEITED ACCOUNTS - For the years ended December 31, 1998 and 1997,
forfeitures on nonvested accounts totaled $183,641 and $216,301,
respectively. Effective April 1, 1997, forfeitures are retained in the
Plan to be used to offset future employer contributions.
DISCLOSURE REGARDING FINANCIAL INSTRUMENTS - Investments are stated at
fair value, determined using quoted market prices. The carrying amount of
participant loans approximate fair value because the interest rates on
these instruments change with market interest rates.
NEW ACCOUNTING PRONOUNCEMENTS - In June 1998, the FASB issued SFAS No.
133, ACCOUNTING FOR DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES. Among
other provisions, SFAS No. 133 establishes accounting and reporting
standards for derivative instruments and for hedging activities. It also
requires that an entity recognize all derivatives as either assets or
liabilities in the statement of financial position and measure those
instruments at fair value. SFAS No. 133 is effective for financial
statements for fiscal years beginning after July 1, 2000. The Plan Sponsor
has not determined what effects, if any, the adoption of SFAS No. 133 will
have on the Plan's financial statements.
2. DESCRIPTION OF THE PLAN
The Plan is a defined contribution plan sponsored by Interim Services Inc.
("Interim"). Effective April 1, 1997, non-highly compensated employees are
eligible for participation under the Plan after completing 90 days of
service (previously 1,000 hours and 12 months of service were required).
Employees' contributions (made on a pre-tax basis, equal to not less than
1 percent nor more than 15 percent of an employee's compensation) and
actual earnings thereon are fully vested and nonforfeitable. Prior to
April 1, 1997, employee contributions were limited to 2 percent to
10 percent of pre-tax compensation. Under the previous plan provisions,
employer contributions amounts vested on a graduated scale from 2 to 6
years of service, becoming 100% vested at the end of six years or upon
death, permanent disability or retirement at age 65. Subsequent to
April 1, 1997, employer contributions (at present equal to 25 percent,
with the possibility of an additional discretionary
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match, up to 25 percent paid upon approval by the Board of Directors, of
the sum of an employee's compensation reduction on the first 6 percent
for the plan year) vest on a graduated scale from 1 to 5 years of service
and become 100% vested at the end of five years or upon death, permanent
disability or retirement at age 65. Effective January 1, 1992, employee
after-tax contributions may no longer be made to the Plan. Any such
contributions made prior to such date are fully vested and nonforfeitable.
Plan earnings are allocated to individual accounts based on the
participant's beginning balance as a percentage of the Plan's total
beginning balance. Loans are limited to the lesser of $50,000 or 50% of
the participant's vested account balance.
Plan participants who leave Interim as a result of termination, retirement
or permanent disability may elect to receive their entire vested account
in a lump-sum, a rollover into another qualified plan, or if the balance
exceeds $5,000, the participant may retain their vested balance in the
Plan. Contributions will remain in the Plan and continue to earn interest
based on the investment fund of the participant's choice until their
entitlement is withdrawn or rolled over into another qualified plan.
Participants of certain plans, which were merged into the Plan on
April 1, 1997, may receive annuity payouts.
Although Interim has not expressed any intent to do so, it has the right
to discontinue its contributions at any time and to terminate the Plan
subject to the provisions set forth in the Plan and under ERISA. In the
event that the Plan should be terminated, all Plan assets shall be
allocated to the participants as described in the full text of the Plan.
Effective April 1, 1997, administrative expenses are charged to Plan
participant accounts. The plan sponsor directly pays certain audit and
legal expenses for the Plan.
The following investment funds represent the available options which the
participants may elect to use:
T. ROWE PRICE STABLE VALUE FUND - A current income fund investing in
guaranteed investment contracts, by insurance companies, bank
investment contracts, and synthetic investment contracts.
T. ROWE PRICE INTERNATIONAL STOCK FUND - A long-term growth fund
investing primarily in the common stocks of established, non-U.S.
companies.
T. ROWE PRICE SPECTRUM INCOME FUND - An income fund primarily
investing in domestic bond funds and also in two foreign bond funds,
but it may allocate up to 25% of assets to a stock fund.
T. ROWE PRICE DIVIDEND GROWTH FUND - A long-term growth fund
investing primarily in dividend-paying common stocks that have
favorable prospects for increasing dividends.
T. ROWE PRICE PERSONAL STRATEGY FUNDS - Growth and income funds
investing in a mix of stocks, bonds, and money market securities
depending on the overall emphasis towards growth or income.
T. ROWE PRICE MID-CAP GROWTH FUND - A long-term capital growth
fund investing primarily in common stocks of medium-sized (mid-cap)
growth companies.
T. ROWE PRICE SMALL-CAP STOCK FUND - A long-term capital growth fund
investing primarily in stocks of small to medium-sized companies.
T. ROWE PRICE EQUITY INDEX TRUST - A growth fund investing in all
500 stocks the S&P Index comprises in proportion to their respective
weighting in the Index.
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INTERIM SERVICES INC. COMMON STOCK - Funds are invested in common
stock of Interim Services Inc.
TRADELINK PLUS - Funds are invested in the common stock of the
participant's choice. To utilize this investment option, a
participant must have a minimum vested balance of $10,000 and can
invest only 50% of their total vested balance in this manner. Any
transaction costs to purchase or sell shares under this investment
option are paid from the participant's vested account balance. As of
December 31, 1998, no participants have elected to participate in
this investment option.
Prior to September 1, 1998, the following funds were available for use by
participants:
FRANKLIN GROWTH FUND - A capital appreciation fund investing in
stocks of large established companies.
MFS RESEARCH FUND A - A long-term growth and income fund investing in
stocks of medium-sized companies.
MASTERWORKS LIFEPATH FUNDS - Balanced funds that seek total
returns for participants who will retire around the years 2010, 2020,
2030 and 2040, investing in stocks, bonds and money markets.
STRONG GOVERNMENT SECURITIES FUND - Current income funds investing in
Government bonds.
WARBURG PINCUS INTERNATIONAL EQUITY FUND - Long-term capital growth
fund investing primarily in stocks of foreign companies.
INVESCO STABLE VALUE FUND - A current income fund designed to
preserve principal value investing in a variety of insurance
contracts.
INTERIM UNITIZED FUND - Invests primarily in the common stock of
Interim Services Inc. with a small portion maintained in a money
market trust.
Participants should refer to the plan agreement for a more complete
description of the Plan's provisions.
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3. BY FUND INFORMATION
Net additions (deductions) to net assets available for benefits for the
year ended December 31, 1998 by fund are as follows:
MASTERWORKS MASTERWORKS MASTERWORKS MASTERWORKS STRONG
FRANKLIN MFS LIFEPATH LIFEPATH LIFEPATH LIFEPATH GOVT.
GROWTH RESEARCH 2040 2030 2020 2010 SECURITIES
FUND FUND A FUND FUND FUND FUND FUND
ADDITIONS:
Contributions $ 1,790,925 $ 1,397,699 $ 504,688 $ 521,740 $ 670,318 $ 294,558 $ 366,775
Dividend income 4,788 7,859 57,964 7,416 60,385
Interest income
Net appreciation
(depreciation) 15,118 (321,927) (99,932) (71,704) (16,643) (18,262) 34,072
----------- ----------- --------- --------- ----------- --------- -----------
Total additions 1,806,043 1,075,772 409,544 457,895 711,639 283,712 461,232
----------- ----------- --------- --------- ----------- --------- -----------
DEDUCTIONS:
Distributions (1,553,324) (315,157) (116,027) (100,350) (738,537) (51,944) (227,769)
Administrative expenses (21,182) (9,996) (3,251) (3,134) (8,993) (1,735) (3,789)
----------- ----------- --------- --------- ----------- --------- -----------
Total deductions (1,574,506) (325,153) (119,278) (103,484) (747,530) (53,679) (231,558)
----------- ----------- --------- --------- ----------- --------- -----------
TRANSFERS, net (11,296,876) (3,597,756) (932,716) (886,425) (5,172,473) (598,884) (1,848,751)
----------- ----------- --------- --------- ----------- --------- -----------
NET INCREASE (DECREASE) (11,065,339) (2,847,137) (642,450) (532,014) (5,208,364) (368,851) (1,619,077)
NET ASSETS AVAILABLE,
BEGINNING OF YEAR 11,065,339 2,847,137 642,450 532,014 5,208,364 368,851 1,619,077
----------- ----------- --------- --------- ----------- --------- -----------
NET ASSETS AVAILABLE,
END OF YEAR $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0
------------ ----------- --------- --------- ----------- --------- ------------
------------ ----------- --------- --------- ----------- --------- ------------
T. ROWE T. ROWE
WARBURG T.ROWE PRICE PRICE
PINCUS INT'L. INTERIM INVESCO PRICE INTERNATIONAL SPECTRUM
EQUITY UNITIZED STABLE VALUE STABLE VALUE STOCK INCOME
FUND FUND FUND FUND FUND FUND
ADDITIONS:
Contributions $ 536,269 $ 589,037 $ 979,400 $ 283,293 $ 203,580 $ 171,358
Dividend income 173,290 97,130 57,172 69,774
Interest income 24,799 7,881 1,071 787
Net appreciation
(depreciation) (65,512) (595,086) 125,948 33,680
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Total additions 470,757 787,126 384,314 388,304 387,771 275,599
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DEDUCTIONS:
Distributions (106,511) (705,821) (233,759) (155,510) (22,591) (45,236)
Administrative expenses (4,030) (9,640) (8,473) (2,895) (1,196) (1,310)
---------- --------- --------- --------- ----------- -----------
Total deductions (110,541) (715,461) (242,232) (158,405) (23,787) (46,546)
---------- --------- --------- --------- ----------- -----------
TRANSFERS, net (1,365,775) (5,173,380) (1,966,044) 4,991,493 1,189,007 1,796,324
---------- --------- --------- --------- ----------- -----------
NET INCREASE (DECREASE) (1,005,559) (5,101,715) (1,823,962) 5,221,392 1,552,991 2,025,377
NET ASSETS AVAILABLE,
BEGINNING OF YEAR 1,005,559 5,101,715 1,823,962 0 0 0
---------- --------- --------- --------- ----------- -----------
NET ASSETS AVAILABLE,
END OF YEAR $ 0 $ 0 $ 0 $5,221,392 $ 1,552,991 $ 2,025,377
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---------- --------- --------- --------- ----------- -----------
T.ROWE T. ROWE T. ROWE
T. ROWE PRICE PRICE PRICE T. ROWE T. ROWE T. ROWE
PRICE PERSONAL PERSONAL PERSONAL PRICE PRICE PRICE
DIVIDEND STRATEGY STRATEGY STRATEGY MID-CAP SMALL-CAP EQUITY
GROWTH INCOME BALANCED GROWTH GROWTH STOCK INDEX
FUND FUND FUND FUND FUND FUND TRUST
ADDITIONS:
Contributions $ 759,475 $ 144,679 $ 284,840 $ 496,393 $ 632,718 $ 28,142 $ 154,126
Dividend income 420,550 24,565 249,376 118,884 111,866 1,884 3
Interest income 4,028 934 1,788 878 2,287 72 325
Net appreciation
(depreciation) 1,424,060 53,994 412,988 270,864 1,105,485 6,073 36,875
------------ ----------- ---------- ----------- ----------- -------- ---------
Total additions 2,608,113 224,172 948,992 887,019 1,852,356 36,171 191,329
------------ ----------- ---------- ----------- ----------- -------- ---------
DEDUCTIONS:
Distributions (168,438) (18,960) (81,016) (43,651) (79,884)
Administrative expenses (6,344) (724) (2,805) (2,653) (3,638) (150) (655)
------------ ----------- ---------- ----------- ----------- -------- ---------
Total deductions (174,782) (19,684) (83,821) (46,304) (83,522) (150) (655)
------------ ----------- ---------- ----------- ----------- -------- ---------
TRANSFERS, net 10,557,111 832,503 4,908,212 2,094,355 3,614,302 58,409 355,150
------------ ----------- ---------- ----------- ----------- -------- ---------
NET INCREASE (DECREASE) 12,990,442 1,036,991 5,773,383 2,935,070 5,383,136 94,430 545,824
NET ASSETS AVAILABLE,
BEGINNING OF YEAR 0 0 0 0 0 0 0
------------ ----------- ---------- ----------- ----------- -------- ---------
NET ASSETS AVAILABLE,
END OF YEAR $ 12,990,442 $ 1,036,991 $ 5,773,383 $ 2,935,070 $ 5,383,136 $ 94,430 $ 545,824
------------ ----------- ----------- ----------- ----------- -------- ---------
------------ ----------- ----------- ----------- ----------- -------- ---------
INTERIM
SERVICES INC. PARTICIPANT
COMMON LOANS
STOCK RECEIVABLE OTHER TOTAL
ADDITIONS:
Contributions $ 378,545 $ 1,184,225 $ 12,372,783
Dividend income 18 1,462,924
Interest income 2,849 $ 24,771 72,470
Net appreciation
(depreciation) 350,880 2,680,971
------------- --------- ----------- ------------
Total additions 732,292 24,771 1,184,225 16,589,148
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DEDUCTIONS:
Distributions (30,143) (27,230) (4,821,858)
Administrative expenses (2,679) (99,272)
------------- --------- ------------
Total deductions (32,822) (27,230) (4,921,130)
------------- --------- ------------
TRANSFERS, net 1,982,786 457,360 2,068 0
------------- --------- ----------- ------------
NET INCREASE (DECREASE) 2,682,256 454,901 1,186,293 11,668,018
NET ASSETS AVAILABLE,
BEGINNING OF YEAR 0 504,113 0 30,718,581
------------- --------- ----------- ------------
NET ASSETS AVAILABLE,
END OF YEAR $ 2,682,256 $ 959,014 $ 1,186,293 $ 42,386,599
------------- --------- ----------- ------------
------------- --------- ----------- ------------
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4. PLAN COMMITTEES AND TRUSTEE
The Plan provides for selection of an Administrative Committee, a Plan
Administrator and a Trustee by the Board of Directors of Interim. The
Administrative Committee is responsible for the general administration of
the Plan, the interpretation of its provisions and is responsible for the
reporting and disclosure requirements under ERISA. Effective September 1,
1998, T. Rowe Price was established as Trustee of the Plan and as the
Plan's Administrator.
5. PLAN TAX STATUS
The Plan intended to be qualified under Section 401(a) of the Internal
Revenue Code of 1986 (the "Code") and is intended to be exempt from
taxation under Section 501(a) of the Code. The Plan received a favorable
IRS determination letter dated July 23, 1996 and a new IRS determination
request has been filed. The Plan has been amended since receiving the
determination letter. However, the Plan Sponsor believes that the Plan
is currently designed and being operated in compliance with the
applicable requirements of the Code and the related trust was tax-exempt
as of the financial statement date. Therefore, no provision for income
taxes has been included in the Plan's financial statements.
* * * * * *
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INTERIM SERVICES INC.
401(k) BENEFIT PLAN
ITEM 27a - SUPPLEMENTAL SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
DECEMBER 31, 1998
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FAIR
DESCRIPTION SHARES COST VALUE
SHARES OF REGISTERED INVESTMENT COMPANIES:
T. Rowe Price Stable Value Fund* 5,221,392 $ 5,221,392 $ 5,221,392
T. Rowe Price International Stock Fund* 103,602 1,433,302 1,552,991
T. Rowe Price Spectrum Income Fund* 176,120 1,993,696 2,025,377
T. Rowe Price Dividend Growth Fund* 590,206 11,612,410 12,990,442
T. Rowe Price Personal Strategy Income Fund* 78,146 984,543 1,036,991
T. Rowe Price Personal Strategy Balanced Fund* 363,106 5,380,248 5,773,383
T. Rowe Price Personal Strategy Growth Fund* 160,386 2,684,982 2,935,070
T. Rowe Price Mid-Cap Growth Fund* 157,956 4,323,230 5,383,136
T. Rowe Price Small-Cap Stock Fund* 4,542 88,482 94,430
T. Rowe Price Equity Index Trust* 17,132 509,114 545,824
----------- -----------
Total registered investment companies stock $34,231,399 $37,559,036
Interim Services Inc. common stock* 114,749 $ 2,280,922 $ 2,682,256
PARTICIPANT LOANS RECEIVABLE* $ 959,014 $ 959,014
----------- -----------
TOTAL INVESTMENTS 37,471,335 41,200,306
----------- -----------
----------- -----------
Note: Collateral is not applicable as loans represent use of participant's own
funds. Defaults are subject to applicable tax and penalties by the
Internal Revenue Service. Participant loans receivable are due at
various maturity dates and bear interest at the prime rate.
* Party-in-interest
-9-
INTERIM SERVICES INC.
401(k) BENEFIT PLAN
ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
YEAR ENDED DECEMBER 31, 1998
- ------------------------------------------------------------------------------
Single transactions or series of transactions, when aggregated, exceeding five
percent of beginning net assets available for benefits:
CURRENT
VALUE ON
NUMBER OF PURCHASES TRANSACTION SALES SALES NET GAIN
DESCRIPTION OF ASSETS PURCHASES SALES AT COST DATE PROCEEDS AT COST (LOSS)
SINGLE TRANSACTIONS:
Franklin Growth Fund* 1 $10,760,731 $10,760,731 $ 9,985,076 $ 775,655
MFS Research Fund A* 1 3,764,465 3,764,465 4,111,094 (346,629)
Masterworks LifePath Fund 2020* 1 5,081,648 5,081,648 4,752,307 329,341
Strong Government Securities Fund* 1 1,743,269 1,743,269 1,689,043 54,226
Invesco Stable Value Fund* 1 4,918,965 4,918,965 4,918,965
Interim Unitized Fund* 1 1,972,560 1,972,560 2,362,157 (389,597)
T. Rowe Price Stable Value Fund* 1 $ 4,919,164 4,919,164
T. Rowe Price Spectrum Income Fund* 1 1,743,330 1,743,330
T. Rowe Price Dividend Growth Fund* 1 10,760,730 10,760,730
T. Rowe Price Personal Strategy Balanced Fund* 1 5,081,647 5,081,647
T. Rowe Price Personal Strategy Growth Fund* 1 2,274,523 2,274,523
T. Rowe Price Mid-Cap Growth Fund* 1 3,764,484 3,764,484
Interim Services Inc. common stock* 1 1,920,318 1,920,318
SERIES OF TRANSACTIONS:
Franklin Growth Fund* 144 2,026,176 2,026,176
136 13,106,633 13,106,633 11,875,212 1,231,421
MFS Research Fund A* 157 1,813,613 1,813,613
113 4,338,821 4,338,821 4,543,098 (204,277)
Masterworks LifePath Fund 2020* 106 6,088,397 6,088,397 5,558,489 529,908
Strong Government Securities Fund* 91 2,273,479 2,273,479 2,194,620 78,859
Warburg International Equity Fund* 99 1,567,723 1,567,723 1,872,840 (305,117)
Invesco Stable Value Fund* 107 6,392,305 6,392,305 6,392,305
Interim Unitized Fund* 109 2,424,291 2,424,291 2,645,689 (221,398)
T. Rowe Price Stable Value Fund* 33 5,412,641 5,412,641
T. Rowe Price Spectrum Income Fund* 31 2,038,544 2,038,544
T. Rowe Price Dividend Growth Fund* 25 11,889,089 11,889,089
T. Rowe Price Personal Strategy Balanced Fund* 27 5,609,645 5,609,645
T. Rowe Price Personal Strategy Growth Fund* 25 2,867,704 2,867,704
T. Rowe Price Mid-Cap Growth Fund* 32 4,484,645 4,484,645
Interim Services Inc. common stock* 31 2,351,517 2,351,517
*Party-in-Interest
-10-
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of l934, the
Administrative Committee has duly caused this annual report to be signed on its
behalf by the undersigned thereunto duly authorized.
Interim Services Inc.
401(k) Benefit Plan
/s/ J. B. Smith
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By: /s/ J.B. Smith
SECRETARY, ADMINISTRATIVE COMMITTEE