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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------
FORM 11-K
Annual Report
Pursuant to Section 15(d) of the
Securities Exchange Act of 1934
(Mark One):
[X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934 [NO FEE REQUIRED, EFFECTIVE OCTOBER 7, 1996]
For the fiscal year ended December 31, 2001
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934 [NO FEE REQUIRED]
For the transition period from _____________ to ______________
Commission file number: 1-14603
A. Full title of the plan and the address of the plan, if different from
that of the issuer named below:
Investment Plan Supplement for
Employees and Field Underwriters of
MONY Life Insurance Company
B. Name of the issuer of the securities held pursuant to the plan and the
address of its principal executive office:
THE MONY GROUP INC.
1740 Broadway
New York, New York 10019
Investment Plan Supplement for
Employees and Field Underwriters of
MONY Life Insurance Company
INDEX
Page(s)
------
Independent Auditors' Report 1
Financial Statements:
Statements of Net Assets Available for Benefits
as of December 31, 2001 and 2000 2
Statement of Changes in Net Assets Available for
Benefits for the year ended December 31, 2001 3
Notes to Financial Statements 4-15
Supplemental Schedules*:
Schedule of Assets (Held at End of Year)
as of December 31, 2001 16
Schedule of Series of Reportable Transactions for the
year ended December 31, 2001 17
Signature 18
Exhibits
Exhibit 23 - Consent of Independent Public Accountants 19
* All other schedules required by the Department of
Labor's Rules and Regulations for Reporting and
Disclosure under the Employee Retirement Security
Act of 1974 have been omitted because there is no
information to report.
INDEPENDENT AUDITORS' REPORT
----------
To the Benefits Committee of the Board of Directors of
MONY Life Insurance Company:
We have audited the accompanying statements of net assets available for benefits
of the INVESTMENT PLAN SUPPLEMENT for EMPLOYEES and FIELD UNDERWRITERS of MONY
LIFE INSURANCE COMPANY (the "Plan") as of December 31, 2001 and 2000, and the
related statement of changes in net assets available for benefits for the year
ended December 31, 2001. 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 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 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 as of
December 31, 2001 and 2000, and the changes in net assets available for benefits
for the year ended December 31, 2001, in conformity with accounting principles
generally accepted in the United States of America.
Our audits were performed for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of assets
(held at end of year) as of December 31, 2001 and series of reportable
transactions for the year ended December 31, 2001 are presented for the purpose
of additional analysis and are not a required part of the basic 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. These supplemental schedules are the
responsibility of the Plan's management. The supplemental schedules have been
subjected to the auditing procedures applied in the audits of the basic
financial statements and, in our opinion, are fairly stated in all material
respects in relation to the basic financial statements taken as a whole.
/s/ Mitchell & Titus, LLP
New York, New York
June 7, 2002
-1-
Investment Plan Supplement for Employees and
Field Underwriters of MONY Life Insurance Company
Statements of Net Assets Available for Benefits
As of December 31,
2001 2000
------------- -------------
ASSETS
Investments, at fair value:
MONY's Pooled Accounts $ 274,424,307 $ 301,419,745
MONY's Guaranteed Interest Contracts 33,809,411 31,851,571
Mutual Funds 50,298,467 62,756,620
Common Stock Fund 11,724,156 5,834,719
------------- -------------
Total Investments 370,256,341 401,862,655
Participants' Loans 13,209,148 13,514,083
------------- -------------
Net Assets Available for Benefits $ 383,465,489 $ 415,376,738
============= =============
The accompanying notes are an integral part of these financial statements.
-2-
Investment Plan Supplement for Employees and
Field Underwriters of MONY Life Insurance Company
Statement of Changes in Net Assets Available for Benefits
for the year ended December 31, 2001
Net Assets Available for Benefits, beginning of year $ 415,376,738
-------------
Additions:
Participants' Contributions 13,078,136
MONY's Contributions 5,664,336
Interest Income 4,889,741
-------------
Total Additions 23,632,213
-------------
Deductions:
Net change in the fair value of investments in MONY's
Pooled Accounts, Mutual Funds and Common Stock Fund 27,216,623
Participant Benefits 27,728,252
Administrative Expenses 598,587
-------------
Total Deductions 55,543,462
-------------
Net Decrease (31,911,249)
-------------
Net Assets Available for Benefits, end of year $ 383,465,489
=============
The accompanying notes are an integral part of these financial statements.
-3-
Investment Plan Supplement for Employees and
Field Underwriters of MONY Life Insurance Company
Notes to Financial Statements
As of and for the years ended December 31, 2001 and 2000
NOTE 1. DESCRIPTION OF THE PLAN:
The following description is provided for general information purposes
only. Participants should refer to the plan document for complete
information.
A. General
The Investment Plan Supplement for Employees and Field Underwriters of
MONY Life Insurance Company (the "Plan") is a defined-contribution
profit-sharing plan, with a 401(k) feature, providing for
contributions from the employer, MONY Life Insurance Company ("MONY"
or the "Company"), and from participating employees and Field
Underwriters. All Plan contributions are placed in the MONY Investment
Plan and Retirement Plan Trust (the "Trust").
The assets of the Plan are invested in the following ten funds
administered through the Trust: The Money Market Fund (invested in
MONY's Pooled Account No. 4), the Special Equity Fund (invested in the
Special Equity Fund subaccount of MONY's Pooled Account No. 10B), the
Government Fixed Fund ("GFF", invested in MONY's Pooled Account No.
16), the Public Bond Fund (invested in MONY's Pooled Account No.
38), the Equity Income Fund (invested in MONY's Pooled Account No.
40), and the Guaranteed Interest Contract ("GIC Fund", invested in
GICs issued by MONY), and the Managed, International Growth and Growth
Funds (all invested in the Enterprise Group of Funds, Inc., a family
of mutual funds sponsored by Enterprise Capital Management, Inc.,
which is a wholly owned subsidiary of MONY), and the MONY Company
Stock Fund (invested in The MONY Group Inc. Common Stock). The Plan's
share of the net assets of each of the funds comprising the Trust is
determined in proportion to its ownership interest in the outstanding
shares of such funds. The accompanying financial statements reflect
the Plan's allocated share of the net assets and changes in net assets
of the Trust, based on the application of such method.
On April 17, 2000, MONY began offering a Company Stock Fund (The
"Common Stock Fund") as an investment option. The Common Stock Fund
uses "unit" accounting. As a unitized stock fund, the Common Stock
Fund holds primarily The MONY Group Inc. Common Stock and a small
percentage of cash and short-term instruments, while members hold
units of the Common Stock Fund.
-4-
Investment Plan Supplement for Employees and
Field Underwriters of MONY Life Insurance Company
Notes to Financial Statements
As of and for the years ended December 31, 2001 and 2000
NOTE 1. DESCRIPTION OF THE PLAN: (Continued)
B. Contributions
All Salaried employees and Career Contract Field Underwriters are
eligible to participate in the Plan. The Plan has an Internal Revenue
Code (the "Code") Section 401(k) feature which allows employees and
Field Underwriters to elect to have MONY contribute a percentage of
their annual benefits bearing compensation to the Plan on the
employee's behalf on a pre-tax basis. Participants may elect to defer
up to 13% (25% effective January 1, 2002) of annual benefits bearing
compensation.
The Plan provides that the total contribution by MONY in any one
calendar year cannot exceed 5% of its prior year's income from
operations before dividends to policyholders and federal income taxes,
excluding capital gains and losses. MONY matches 100% of the first 3%
of employee contributions and the first 2% of Field Underwriter
contributions to the Plan. All MONY matching contributions will be
allocated to the Common Stock Fund. For employees/Field Underwriters
who choose to direct their contributions to the Common Stock Fund,
MONY will make an additional .15% match on the first 3% of employee
contributions, and the first 2% for Field Underwriters contributions,
directed to this fund.
MONY provides a profit-sharing contribution for eligible salaried
employees. This contribution ranges from 0% to 6% of each eligible
employee's salary. The Board of Directors approves this contribution
on the basis of recommendations of the Chairman of The Board of
Directors of MONY.
All participant contributions are used to purchase shares in the funds
described in (A), as elected by the participant. A Plan participant is
entitled to the vested value of accumulated shares credited to the
participant's account, including any earnings there from. All company
matching contributions will be allocated to the Common Stock Fund.
Participant share values are reduced by the cost of managing the Plan.
-5-
Investment Plan Supplement for Employees and
Field Underwriters of MONY Life Insurance Company
Notes to Financial Statements
As of and for the years ended December 31, 2001 and 2000
NOTE 1. DESCRIPTION OF THE PLAN: (Continued)
For all funds other than the Common Stock Fund, a member may make
unlimited transfers. For the Common Stock Fund, member contributions
which were credited with matching contributions of 1.15%, may not be
transferred from the Common Stock Fund until 3 years from the date of
the contribution. MONY matching contributions are not eligible for
transfer from the Common Stock Fund until the later of: (i) member's
50th birthday, (ii) April 28, 2005, or (iii) the 5th anniversary of an
employee's employment or re-employment date.
Money transferred from Money Market, Public Bond, GIC's or GFF funds,
cannot be transferred back into these funds for 90 days.
C. Vesting
The Plan describes procedures for withdrawal of accumulated shares by
participants during their active service with MONY. Participating
employees and Field Underwriters become vested under the following
schedule:
Years of Vesting Service Employee Field Underwriter
------------------------ -------- -----------------
Less than 2 years of service 0% 0%
2 to 3 years of service 25% 0%
3 to 4 years of service 50% 0%
4 to 5 years of service 75% 0%
Over 5 years of service 100% 100%
All shares purchased with MONY contributions are also fully vested
upon termination of service for, early, normal or postponed retirement
as defined in the Retirement Income Security Plan for Employees of The
MONY Life Insurance Company ("RISPE") and upon death while employed by
MONY.
D. Disability Benefits
Participants entitled to receive long-term disability benefits under
MONY's 1946 Security Plan for Employees are precluded from continuing
to make employee contributions to the Plan once the participants are
determined to have incurred a total disability. Field Underwriters
continue to have 401(k) contributions deducted from Career Contract
earnings they generated prior to becoming disabled.
-6-
Investment Plan Supplement for Employees and
Field Underwriters of MONY Life Insurance Company
Notes to Financial Statements
As of and for the years ended December 31, 2001 and 2000
NOTE 1. DESCRIPTION OF THE PLAN: (Continued)
E. Loans
The Plan includes a 401(k) loan feature. Participants may generally
borrow the lesser of $50,000 or 50% of their vested account balances
contained in their 401(k) account. The Employee Retirement Plan
Account (414 (k)) is also included to calculate the amount available,
but is excluded from loan depletion. Loans are not to exceed five
years, and interest is charged at the prevailing interest rates on
secured personal loans. Interest and principal payments are made
through periodic payroll deductions.
F. Forfeited Accounts
At December 31, 2001 and 2000, forfeited nonvested accounts totaled
$525,278 and $414,639, respectively. These accounts will be used to
reduce future MONY contributions, except as defined in the Plan.
G. Payment of Benefits
Upon termination, retirement or death, a participant or beneficiary
generally may elect to receive either a lump-sum amount, installment
payments or any other optional income arrangement permitted by the
Plan, equal to the value of the vested shares allocated to the
account. Accumulated shares credited to participants electing a
non-installment optional income arrangement are withdrawn from the
Plan. The accompanying financial statements include net assets
available for active employees currently participating in the Plan and
terminated or retired participants who have elected installment
payments.
An employee may elect to roll over a lump-sum distribution from RISPE
into the Plan.
A Field Underwriter may elect to roll over a lump-sum distribution
from the Field Underwriter Retirement Plan into the Plan.
H. Plan Termination
MONY may amend or modify the Plan. Moreover, MONY may terminate the
Plan, although it has no present intention of doing so. In the event
the Plan is terminated, participants' accounts become fully vested.
-7-
Investment Plan Supplement for Employees and
Field Underwriters of MONY Life Insurance Company
Notes to Financial Statements
As of and for the years ended December 31, 2001 and 2000
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:
Basis of Accounting
The Plan's financial statements are prepared on 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 requires
management to make significant estimates and assumptions that affect
the reported amounts of assets and liabilities and disclosures of
contingent assets and liabilities at the date of the financial
statements and the reported amounts of revenue and expenses during the
reporting period. Actual results could differ from those estimates.
Investment Valuation and Income Recognition
Interest income is accrued as earned.
The Plan's investments in MONY's Pooled Accounts Nos. 4, 10B, 38 and
40, MONY's Common Stock Fund, and Mutual Funds are recorded at fair
value. Purchases and sales of shares of ownership in MONY's Pooled
Accounts and Mutual Funds are recorded on a trade-date basis. Realized
gains and losses on disposition of shares are determined on the
first-in/first-out basis.
The Plan's investments in MONY's GIC Fund and the Government Fixed
Fund are recorded at fair value, which includes accrued interest.
The Plan presents in the statement of changes in net assets available
for benefits the net change in the fair value of its investments in
MONY's Pooled Accounts, Common Stock Fund, and Mutual Funds, which
consists of realized gains or losses and the unrealized appreciation
or depreciation on those investments for the year.
-8-
Investment Plan Supplement for Employees and
Field Underwriters of MONY Life Insurance Company
Notes to Financial Statements
As of and for the years ended December 31, 2001 and 2000
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Continued)
Participants' loans are recorded at unpaid principal balance.
The Plan provides for various investment options in any combination of
stocks, bonds, mutual funds, guaranteed interest contracts, and other
investment securities, through pooled separate accounts. Investment
securities are exposed to various risks, such as interest rate, market
and credit. Due to the level of risk associated with certain
investment securities and the level of uncertainty related to changes
in the value of investment securities, it is at least reasonably
possible that changes in risk in the near term would materially affect
participants' account balances and the amounts reported in the
statements of net assets available for benefits and the statement of
changes in net assets available for benefits.
Investments in MONY's Pooled Accounts, Mutual Funds, Company Stock,
and MONY's Guaranteed Interest Contracts:
The shares and unit values of the Plan's investments in MONY's Pooled
Accounts, Mutual Funds, Company Stock, and MONY's GICs, which
represent rounded amounts, reflected above as of December 31, 2001,
June 30, 2001 and December 31, 2000, are as follows:
December 31, 2001 June 30, 2001
---------------------------- --------------------------
Number of Unit Number of Unit
Units Value Units Value
------- ------- ------- -------
Pooled Accounts:
No. 4 1,612,086 $ 24.66 1,546,817 $ 24.33
No. 10B 1,077,995 85.87 1,123,322 92.33
No. 16 -'99* 817,708 11.54 851,309 11.24
No. 38 735,585 34.63 702,434 33.21
No. 40 1,781,014 60.19 1,851,475 62.79
Mutual Funds:
Managed 2,958,396 8.775 3,154,511 9.472
International
Growth 614,435 14.8717 675,984 16.37
Growth 708,648 21.0226 684,101 21.1984
Company Stock:
MONY Stock Fund 1,089,251 10.7635 810,961 12.4939
*Pooled Account 16 - `91 through `98 rolled - over into Pooled Account 16 - `99
as of March 31, 2000.
-9-
Investment Plan Supplement for Employees and
Field Underwriters of MONY Life Insurance Company
Notes to Financial Statements
As of and for the years ended December 31, 2001 and 2000
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Continued)
December 31, 2001 June 30, 2001
------------------------------- -------------------------------
Number of Unit Number of Unit
Units Value Units Value
------- ------- ------- -------
Guaranteed Interest Contracts:
GIC 23 109,525 $13.1223 111,413 12.77298
GIC 24 178,060 13.15779 183,603 12.7539
GIC 25 156,355 12.3912 160,857 12.06416
GIC 26 165,468 11.98247 171,051 11.66905
GIC 27 133,205 11.43158 136,094 11.7704
GIC 28 2,127,928 11.554 1,397,374 11.2309
December 31, 2000
-------------------------------
Number of Unit
Units Value
------- -------
Pooled Accounts:
No. 4 1,587,049 $23.74
No. 10B 1,172,730 88.76
No. 16 -'99* 898,730 10.95
No. 38 707,169 32.11
No. 40 1,879,475 67.63
Mutual Funds:
Managed 3,265,410 10.03
International
Growth 658,824 21.26
Growth 661,664 24.18
Company Stock:
MONY Stock Fund 378,986 15.4
Guaranteed Interest Contracts:
GIC 21 88,289 12.95
GIC 22 575,785 13.23
GIC 23 114,119 12.43
GIC 24 189,969 12.38
GIC 25 170,214 11.74
GIC 26 178,389 11.38
GIC 27 147,941 10.93
GIC 28 1,253,202 10.91
*Pooled Account 16 - `91 through `98 rolled - over into Pooled Account 16 - `99
as of March 31, 2000.
-10-
Investment Plan Supplement for Employees and
Field Underwriters of MONY Life Insurance Company
Notes to Financial Statements
As of and for the years ended December 31, 2001 and 2000
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Continued)
MONY's Pooled Accounts are separate accounts whose assets and
liabilities are segregated from the other assets and liabilities of
MONY. Management believes these pooled account assets and liabilities
will not be affected by liabilities that may arise out of any other
business that MONY may conduct.
Pooled Account No. 4, the Money Market Account, is a separate account
primarily invested in commercial paper. Its objectives are to obtain a
high level of current income consistent with the preservation of
capital and to maintain a quality portfolio of short-term money market
instruments.
Pooled Account No. 10B, the Special Equity Account, is a separate
account invested in securities of small-to-medium size market
capitalization companies.
Pooled Account No. 16, the Government Fixed Fund, is a separate
account that provides for guaranteed rates of return on principal and
interest. The fund is invested solely in obligations of the U.S.
Government and U.S. Government Agencies, which include Treasury Bonds,
Bills, Notes and Agency Obligations.
Pooled Account No. 38, the Public Bond Account, is a separate account
primarily invested in a diversified portfolio of publicly traded
corporate bonds, concentrated in investment-grade issues in the four
highest major-ranking categories established by Moody's or Standard &
Poor's.
Pooled Account No. 40, the Equity Income Account, is a separate
account primarily invested in common stock with relatively high
current yields. Its objective is to offer above-average current income
and the opportunity for capital appreciation.
Managed Fund is a flexible portfolio mutual fund that invests in
common stocks, bonds and cash equivalents.
International Growth Fund is a diversified international asset
management mutual fund that seeks capital appreciation primarily
through a portfolio of non-U.S. equities.
Growth Fund invests in the stocks of companies with long-term earnings
potential but which are currently selling at a discount to their
estimated long term value.
-11-
Investment Plan Supplement for Employees and
Field Underwriters of MONY Life Insurance Company
Notes to Financial Statements
As of and for the years ended December 31, 2001 and 2000
The Fund's equity selection process is generally lower risk than a
typical growth stock approach.
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: (Continued)
MONY Stock Fund invests in The MONY Group Inc. Common Stock, with the
portion of the fund not invested in Common Stock invested in cash and
short-term investments.
Guaranteed Interest Contracts are contracts with MONY that provide for
guaranteed rates of return on principal invested over specified time
periods. The assets supporting these contracts are invested with the
general assets of MONY. Loans are not permitted from the GIC Fund or
GFF. A market value adjustment may apply if the participant elects a
withdrawal or transfer from a GIC Fund or GFF outside an established
period.
NOTE 3. ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS:
The following table represents the carrying amounts and estimated fair
values of the Company's financial instruments at December 31, 2001 and
December 31, 2000. The calculations of estimated fair values involve
considerable judgment. Accordingly, these estimates of fair value are
not necessarily indicative of the amounts that could be negotiated in
an actual sale.
December 31, 2001:
Carrying Estimated
Financial Assets: Amount Fair Value
---------------- ------ ----------
Pooled Separate Accounts $ 274,424,306 $ 274,424,306
Guaranteed Interest Contracts 33,809,410 33,809,410
Mutual Funds 50,298,468 50,298,468
Company Stock 11,724,156 11,724,156
------------- -------------
$ 370,256,340 $ 370,256,340
============= =============
December 31, 2000:
Carrying Estimated
Financial Assets: Amount Fair Value
---------------- ------ ----------
Pooled Separate Accounts $ 301,419,745 $ 301,419,745
Guaranteed Interest Contracts 31,851,571 31,851,571
Mutual Funds 62,756,620 62,756,620
-12-
Investment Plan Supplement for Employees and
Field Underwriters of MONY Life Insurance Company
Notes to Financial Statements
As of and for the years ended December 31, 2001 and 2000
Company Stock 5,834,719 5,834,719
------------- -------------
$ 401,862,656 $ 401,862,656
============= =============
NOTE 3. ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS: (Continued)
The following represents investments with fair values of 5% or more of
the Plan's net assets as of December 31, 2001 and 2000.
Issuer/Description 2001 2000
------------------ ------ ------
MONY's Pooled Accounts:
No. 4 $ 39,758,183 $ 37,680,921
No. 10B 92,567,150 104,089,629
No. 38 25,471,447 22,709,680
No. 40 107,191,073 127,101,619
GIC 28 (no maturity date at 6.25%) 24,586,448 13,675,922
Managed Fund 26,263,156 32,751,530
The methods and assumptions utilized in estimating these fair values
of financial instruments are summarized as follows:
Guaranteed Interest Contracts
The fair values of the Plan's Guaranteed Interest Contracts are
estimated by discounting expected cash flows using interest rates
currently offered for similar contracts with maturities consistent
with those remaining for the contracts being valued, where
appropriate.
Pooled Separate Accounts and Mutual Funds
Short-term securities other than money market instruments, with 60
days or less to maturity at the time of purchase, are valued at
amortized cost, which approximates market. Money market instruments
are valued at cost, which approximates market; all other short-term
securities are valued at market.
Common stocks are valued at the closing market prices for securities
traded on national securities exchanges, or at the last "bid" prices
for "over-the-counter" securities.
-13-
Investment Plan Supplement for Employees and
Field Underwriters of MONY Life Insurance Company
Notes to Financial Statements
As of and for the years ended December 31, 2001 and 2000
Bonds actively traded on a national securities exchange are valued at
the last reported sales prices. Bonds traded "over-the-counter" are
valued at the last reported "bid" prices.
-14-
Investment Plan Supplement for Employees and
Field Underwriters of MONY Life Insurance Company
Notes to Financial Statements
As of and for the years ended December 31, 2001 and 2000
NOTE 3. ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS: (Continued)
Participant Loans
Unpaid principal balance approximates fair value.
NOTE 4. TAX STATUS:
The Internal Revenue Service has determined and informed the Company
by a letter dated February 9, 1996, 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. However, 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.
-15-
Investment Plan Supplement for Employees and
Field Underwriters of MONY Life Insurance Company
Schedule of Assets (Held at End of Year)
As of December 31, 2001
Issuer/Description Historical Cost Fair Value
------------------ --------------- ----------
MONY's Pooled Accounts:
No. 4 $ 39,272,177 $ 39,758,183
No. 10B 88,108,610 92,567,150
No. 16 - `99 at 5.55%* 9,436,454 9,436,454
No. 38 22,419,389 25,471,447
No. 40 96,841,098 107,191,073
------------- -------------
256,077,728 274,424,307
Company Stock:
MONY Stock Fund 11,724,156 11,724,156
------------- -------------
MONY's Guaranteed Interest Contracts:
GIC 23 matures January 1, 2002 at 5.70% 1,437,218 1,437,218
GIC 24 matures July 1, 2002 at 6.40% 2,342,859 2,342,859
GIC 25 matures January 1, 2003 at 5.65% 1,937,424 1,937,424
GIC 26 matures July 1, 2003 at 5.45% 1,982,721 1,982,721
GIC 27 matures January 1, 2004 at 4.75% 1,522,741 1,522,741
GIC 28 no maturity date at 6.25% 24,586,448 24,586,448
------------- -------------
33,809,411 33,809,411
Mutual Funds:
Managed 22,999,312 26,263,156
International Growth 9,097,284 9,137,689
Growth 15,250,007 14,897,622
------------- -------------
47,346,603 50,298,467
Participants Loans** 13,209,148 13,209,148
------------- -------------
Total $ 362,167,046 $ 383,465,489
============= =============
* Pooled Account 16- `91 through `98 rolled-over into Pooled Account 16-'99
as of March 31, 2000.
** Participant loans are charged interest rates equivalent to secured lines of
credit through JP Morgan Chase & Co. and MONY Federal Credit Union,
Syracuse, New York. Participant loans have an applicable rate ranging from
6.50% to 11.75%.
-16-
Investment Plan Supplement for Employees and
Field Underwriters of MONY Life Insurance Company
Schedule of Series of Reportable Transactions
For the year ended December 31, 2001
Total Value Number Total Value Cost of Net
Number of of of of Assets Realized
Description of Investment Purchases Purchases Sales Sales Sold Gain/(Loss)
------------------------- --------- --------- ----- ----- ---- -----------
Money Market Account 405 $46,098,259 1,036 $45,709,100 $43,462,193 $2,246,907
Equity Income Account 352 $12,686,002 710 $18,790,905 $9,334,787 $9,456,118
Special Equity Account 416 $19,912,082 937 $27,794,314 $18,475,625 $9,318,689
Managed Fund 321 $5,076,363 666 $7,785,872 $7,227,650 $558,222
-17-
Pursuant to the requirements of the Securities Exchange
Act of 1934, the trustees (or other persons who administer
the Plan) have duly caused this Annual Report to be signed
by the undersigned hereunto duly authorized.
INVESTMENT PLAN SUPPLEMENT FOR
EMPLOYEES AND FIELD
UNDERWRITERS OF MONY LIFE
INSURANCE COMPANY
Date: June 28, 2002 /s/ Robert M. Beecroft
-------------------------------
Robert M. Beecroft
Secretary -
Benefit Plan
Administration Committee