UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 11-K
_X_ Annual Report Pursuant to Section 15(d) of the Securities Exchange Act of
1934 for the fiscal year ended May 29, 1999.
or
___ Transition Report Pursuant to Section 15(d) of the Securities Exchange Act
of 1934
Commission File Number: 0-5813
A. Full title of the plan and the address of the plan, if different from that
of the issuer named below:
Herman Miller, Inc. Profit Sharing and 401(k) Plan
B. Name of issuer of the securities held pursuant to the plan and address of
its principal executive office:
Herman Miller, Inc.
855 East Main Avenue
PO Box 302
Zeeland, Michigan 49464-0302
Page 1 of 4 Pages
Exhibit Index at Page 2
FINANCIAL STATEMENTS
The following financial statements are filed as part of this report:
- - Report of Independent Public Accountants
- - Statements of Net Assets Available for Plan Benefits as of May 29, 1999,
and May 30, 1998
- - Statements of Changes in Net Assets Available for Plan Benefits for the
years ended May 29, 1999, and May 30, 1998
- - Notes to Financial Statements
- - Schedule of Assets Held for Investment Purposes as of May 29, 1999
- - Schedule of Reportable Transactions for the year ended May 29, 1999
Note: In accordance with the instructions to this Form 11-K, "plans subject
to the Employee Retirement Income Security Act of 1974 ("ERISA") may
file plan financial statements and schedules prepared in accordance
with the financial reporting requirements of ERISA." As the Plan is
subject to the filing requirements of ERISA, the aforementioned
financial statements and schedules of the Plan have been prepared in
accordance with such requirements.
EXHIBITS
The following exhibits are filed as part of this report:
- - Consent of Arthur Andersen LLP
Page 2 of 4 Pages
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the incorporation of our
report dated December 3, 1999, included in this Form 11-K, into the Company's
previously filed Form S-8 Registration Statement file No. 2-84202.
/s/ Arthur Andersen LLP
Grand Rapids, Michigan,
December 8, 1999
Page 3 of 4 Pages
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Plan
Administrative Committee has duly caused this annual report to be signed on its
behalf by the undersigned hereunto duly authorized.
December 9, 1999 HERMAN MILLER, INC. PROFIT SHARING
AND 401(K) PLAN
By /s/ James E. Christenson
James E. Christenson
Executive Vice President, Legal Services,
and Secretary, on behalf of The Plan
Administrative Committee, the Plan's Named
Administrator and Fiduciary
Page 4 of 4 Pages
HERMAN MILLER, INC.
PROFIT SHARING AND 401(K) PLAN
FINANCIAL STATEMENTS AS OF MAY 29, 1999 AND MAY 30, 1998
TOGETHER WITH AUDITORS' REPORT
Report of Independent Public Accountants
To Herman Miller, Inc.,
Administrator of the Herman Miller, Inc.
Profit Sharing and 401(k) Plan:
We have audited the accompanying statements of net assets available for benefits
of the HERMAN MILLER, INC. PROFIT SHARING AND 401(K) PLAN (the "Plan") as of May
29, 1999 and May 30, 1998, and the related statements of changes in net assets
available for benefits for the years then ended. These financial statements and
the schedules referred to below are the responsibility of the Plan's management.
Our responsibility is to express an opinion on these financial statements and
schedules 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, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the Plan as of
May 29, 1999 and May 30, 1998, and the changes in its net assets available for
benefits for the years then ended in conformity with generally accepted
accounting principles.
Our audits were made for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of assets held
for investment purposes and reportable transactions 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. 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.
As explained in the notes thereto, the Plan has not presented the schedule of
loans or fixed income obligations. Disclosure of this information, which is not
considered material to the financial statements taken as a whole, is required by
the Department of Labor's Rule and Regulations for Reporting and Disclosure
under the Employee Retirement Income Security Act of 1974.
/s/ Arthur Andersen LLP
Grand Rapids, Michigan,
December 3, 1999.
HERMAN MILLER, INC.
PROFIT SHARING AND 401(K) PLAN
INDEX TO FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES
Page
Statement of Net Assets Available for Benefits
as of May 29, 1999 and May 30, 1998 1
Statement of Changes in Net Assets Available for
Benefits for the Years Ended May 29, 1999 and May 30, 1998 2
Notes to Financial Statements 3-10
Schedule I - Item 27a - Schedule of Assets Held for
Investment Purposes as of May 29, 1999 11-12
Schedule II - Item 27d - Schedule of Reportable
Transactions for the Year Ended May 29, 1999 13
- (i) -
HERMAN MILLER, INC.
PROFIT SHARING AND 401(K) PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF MAY 29, 1999 AND MAY 30, 1998
1999 1998
------------- ------------
ASSETS:
Investments, at fair value (Note 5): $265,991,269 $255,148,905
------------ ------------
Receivables:
Employer contributions 5,930,385 2,493,380
Employee contributions 299,536 346,618
Investment income 264,851 267,633
------------ ------------
Total receivables 6,494,772 3,107,631
------------ ------------
Net assets available
for benefits $272,486,041 $258,256,536
============ ============
The accompanying notes to financial statements
are an integral part of this statement.
-1-
HERMAN MILLER, INC.
PROFIT SHARING AND 401(K) PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEARS ENDED MAY 29, 1999 AND MAY 30, 1998
1999 1998
------------ -------------
INVESTMENT INCOME:
Dividends 7,301,539 9,160,312
Interest 316,370 241,773
Net appreciation (depreciation) in fair
value of investments (Note 5) (46,019,435) 68,973,923
------------ ------------
Total investment income (loss) (38,401,526) 78,376,008
------------ ------------
CONTRIBUTIONS:
Employee 16,590,895 9,168,594
Employer 18,459,825 9,600,462
------------ ------------
Total contributions 35,050,720 18,769,056
------------ ------------
TRANSFERS FROM OTHER PLANS (Note 2) 30,572,590 -
BENEFIT PAYMENTS (12,714,978) (11,051,001)
ADMINISTRATIVE EXPENSES (277,301) (452,384)
------------ ------------
Net increase in net assets
available for benefits 14,229,505 85,641,679
NET ASSETS AVAILABLE FOR BENEFITS:
Beginning of year 258,256,536 172,614,857
------------ ------------
End of year $272,486,041 $258,256,536
============ ============
The accompanying notes to financial statements
are an integral part of this statement.
-2-
HERMAN MILLER, INC.
PROFIT SHARING AND 401(K) PLAN
NOTES TO FINANCIAL STATEMENTS
(1) SUMMARY OF SIGNIFICANT ACCOUNTING AND REPORTING POLICIES
The financial statements of the Herman Miller, Inc. Profit Sharing and
401(k) Plan (the "Plan") are presented in accordance with AICPA Statement
of Position 99-3 "Accounting for and Reporting of Certain Defined
Contribution Benefit Plan Investments and other Disclosure Matters" and
prepared using the accrual basis of accounting. Investments are stated at
their fair value based upon market quotes, where applicable. Investments
for which a quote is not available are stated at fair value as determined
by Putnam Fiduciary Trust Company, the Plan's trustee.
Conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported
amounts in the Plan's financial statements. Actual results may differ from
those estimates.
Under Department of Labor Reporting Regulations, the Plan is required to
include a Schedule of Loans or Fixed Income Obligations. The Plan is
currently unable to comply with these requirements, due to the
unavailability of the required information from the Trustee.
(2) PLAN AMENDMENT AND RESTATEMENT
Effective December 1, 1998, the Plan was amended and restated to merge the
assets of four separate defined contribution plans that were previously
maintained by various non-participating affiliate members of the controlled
group into the Plan. The name of the Plan was also changed from the Herman
Miller, Inc. Employee Ownership - Profit Sharing Plan to the Herman Miller,
Inc. Profit Sharing and 401(k) Plan. Participation requirements and
employer contributions of the Plan were also amended. The provisions of the
Plan described in Note 3 are those in effect after the amendment and
restatement.
(3) PLAN DESCRIPTION
The Plan, a defined contribution plan, is subject to the provisions of the
Employee Retirement Income Security Act of 1974 ("ERISA"). The following
description of the major provisions of the Plan is provided for general
information purposes only. Reference should be made to the Plan document
for more complete information.
Company: The "Company" means Herman Miller, Inc. and its participating
affiliates, also referred to herein as the "Employer". The Company is
the Administrator of the Plan.
-3-
HERMAN MILLER, INC.
PROFIT SHARING AND 401(K) PLAN
NOTES TO FINANCIAL STATEMENTS
(Continued)
Participating Affiliates: Any member of the controlled group, the
principal operations of which are located in the United States, which
has adopted this Plan for the benefit of any or all of its employees.
Participation Requirements: All employees of participating affiliates
are eligible on the first day of the next plan quarter after the
employee has completed 30 days of employment and attained age 18.
Vesting: Participants are fully vested at all times. They have a
nonforfeitable right to their contributory account and to the Employer
contributions and the earnings thereon.
Employer Profit Sharing Contribution: The Plan provides for an annual
non-elective employer contribution for each participant into the
Company stock fund. The contribution for the first three plan quarters
of each plan year will not exceed three percent of the compensation of
eligible participants for the plan year to date. The contribution for
the fourth plan quarter of each plan year will not exceed six percent
of the compensation of eligible participants for the plan year reduced
by the amount of the contributions for the first three plan quarters
of the year. The profit sharing contribution is allocated to the
accounts of eligible participants based on the ratio of each
participant's compensation for the plan year to the total of all
eligible participants compensation for the plan year, limited to
$30,000 or 25% of participant compensation, whichever is less.
Salary Deferral Contributions: A participant may make salary deferral
contributions to the Plan. Such deferral is limited to a maximum
amount or percentage of the participant's base compensation as
determined by the Plan. The salary deferral contributions are
invested, as specified by the participant, in the Company's common
stock and/or the funds and accounts offered under the Plan.
Employer Matching Contributions: The Company will contribute to the
trust as matching contributions up to 50% of the participant's salary
deferral contribution not to exceed 3% of the participant's
compensation.
Participant Accounts: Individual accounts are maintained for each
participant to reflect the participant's contributions, employer
contributions, and investment earnings. Investment earnings are
allocated daily based on each participant's relative account balance
within the respective fund.
-4-
HERMAN MILLER, INC.
PROFIT SHARING AND 401(K) PLAN
NOTES TO FINANCIAL STATEMENTS
(Continued)
Voting Rights: Each participant is entitled to exercise voting rights
attributable to Herman Miller, Inc. common shares allocated to his or her
account and is notified by the trustee prior to the time that such rights
are to be exercised. If a participant fails to provide direction as to
voting their shares on any issue, the trustee will vote the shares as
directed by the Plan administrator.
Benefit Payments: For substantially all Plan participants upon retirement,
termination, death or disability, a benefit payment shall be made in the
form of a single lump sum payment of a participant's entire account balance
via distribution of the Company's stock, cash or a combination of both as
directed by the participant and defined in the Plan.
Investment Options: The Plan agreement provides for the following
investment options:
Monitor Money Market Fund - Consists primarily of short-term
investments in money market instruments with maturities less than 13
months.
Monitor Intermediate Government Income Fund - Consists primarily of
investments in United States government securities, mortgages,
guaranteed insurance contracts and other indebtedness for which the
return is fixed or limited.
Frank Russell Diversified Bond Fund - Consists primarily of
investments in bonds, notes, debentures, mortgages, contracts, United
States government securities and other indebtedness for which the
return is fixed or limited.
Frank Russell Diversified Equity Fund - Consists primarily of
investments in corporate equity securities in which the principal and
rate of return are not guaranteed.
Frank Russell Special Growth Fund - Consists primarily of investments
in corporate equity securities of smaller companies with growth
potential in which the principal and rate of return are not
guaranteed.
Frank Russell International Securities Fund - Consists primarily of
investments in corporate equity securities of multi-national companies
in which the principal and rate of return are not guaranteed.
-5-
HERMAN MILLER, INC.
PROFIT SHARING AND 401(K) PLAN
NOTES TO FINANCIAL STATEMENTS
(Continued)
Herman Miller, Inc. Common Stock Fund - Invested solely in the common
stock of the Company.
Putnam OTC & Emerging Growth Fund - Consists primarily of investments
in stocks of small to midsize emerging growth companies traded on the
over-the-counter market and on national exchanges.
Putnam Voyager Fund - Consists primarily of investments in a
combination of stocks of small companies expected to grow over time as
well as stocks of larger, more established corporations.
Putnam International Growth Fund - Consists primarily of investments
in a diversified portfolio of stocks of companies located mainly
outside the United States.
Putnam Investors Fund - Consists primarily of investments in blue-chip
stocks - those of large, well-established companies - selected from a
broad range of industries. The fund targets companies that are
enjoying rising sales and profits and that have dominant positions
within their industries.
Putnam S&P 500 Index Fund - Consists solely of investments that
closely approximate the return of the S&P 500 Index, which is an
indicator of U.S. stock market performance.
Fidelity Equity-Income Fund - Consists primarily of investments which
generate moderate income while considering the potential for capital
appreciation. The fund seeks to provide a yield that exceeds the yield
of the securities in the Standard and Poor's 500 Index (S&P 500).
Vanguard Wellington Fund - Consists of investments which are designed
to pursue three investment objectives: (a) conservation of capital,
(b) reasonable current income, and (c) profits without undue risk. The
fund uses a balanced investment approach, allocating 60% to 70% of net
assets to equities and 30% to 40% to fixed-income securities.
PIMCO Total Return Fund - Consists of investments that seek maximum
current income and price appreciation consistent with preservation of
capital and prudent investment management. The fund targets
intermediate-maturity, fixed-income securities from all major sectors
of the bond market.
-6-
HERMAN MILLER, INC.
PROFIT SHARING AND 401(K) PLAN
NOTES TO FINANCIAL STATEMENTS
(Continued)
Putnam Stable Value Fund - Consists of investments which seek
stability of principal by investing mainly in investment contracts or
similar investments issued by insurance companies, banks, and similar
financial institutions. To provide liquidity, a portion of the fund's
assets is invested in high-quality money market instruments.
Putnam Asset Allocation: Growth Portfolio - Consists of investments
which seek capital appreciation. The fund is designed for relatively
aggressive investors who are willing to accept greater risk in
exchange for a higher growth potential. Diversification is among
different types of stocks, with some investments in bonds and money
market instruments.
Putnam Asset Allocation: Balanced Portfolio - Consists of investments
which seek total return. The fund is designed for investors who want
an investment with moderate risk and the potential for moderate
growth. The balance between the relative stability of bonds and the
fluctuation of stocks is designed to reduce overall risk.
Putnam Asset Allocation: Conservative Portfolio - Consists of
investments which seek total return consistent with capital
preservation. The fund is designed for investors who are willing to
accept a reduced potential for growth in exchange for less risk,
substantial investments in investment-grade bonds are designed to
reduce risk overall, while a portion remains in stocks to help
investments stay ahead of inflation.
Pooled Loan Account - Upon approval, a participant may receive a loan
from their salary deferral account. The loan amount shall not exceed
the lesser of (1) 50% of the sum of all of the participant's account
balances as of the end of the plan year preceding the date on which
the loan is approved or $50,000, whichever amount is smaller; or (2)
100% of the participant's salary deferral account balance as of the
end of the plan year preceding the date on which the loan is approved.
The period of the loan will not exceed five years unless the proceeds
are used to acquire the participant's principal dwelling unit. The
loans shall bear interest at a rate representative of rates charged by
commercial lending institutions for comparable loans. All loans must
be repaid in monthly installments of principal and interest through
payroll deduction arrangements with the Company.
-7-
HERMAN MILLER, INC.
PROFIT SHARING AND 401(K) PLAN
NOTES TO FINANCIAL STATEMENTS
(Continued)
Termination: The Plan may be discontinued at any time by the Company,
but only upon the condition that such action shall render it
impossible for any part of the trust to be used for purposes other
than the exclusive benefit of participants. Upon complete or partial
termination of the Plan, including complete discontinuance of
contributions, the trust will continue to be administered as provided
in the trust agreement. The Company currently has no intention to
terminate the Plan.
(4) TRUST AGREEMENT
Under a trust agreement dated December 1, 1998 with the Plan Administrator,
Putnam Fiduciary Trust Company (the "Trustee") was appointed Trustee of the
Plan. Prior to December 1, 1998, Huntington National Bank was the Plan's
trustee. In accordance with the responsibilities of the Trustee, as
designated in the Trust Agreement, the Trustee administers and invests the
Plan's assets and the income therefrom for the benefit of the Plan's
participants. All expenses, other than the trustee fees paid by the Plan,
are paid by the Company.
(5) INVESTMENTS
The fair value of individual investments that represent 5% or more of the
Plan's total net assets is as follows as of the years ended:
May 29, 1999 May 30, 1998
------------ ------------
Common Stock -
Herman Miller, Inc., 7,288,993 $147,146,518* $189,778,638*
and 6,854,308 shares, respectively
Mutual Funds -
Putnam Investors Fund 16,920,316 -
Putnam Voyager Fund 55,368,286 -
Putnam Stable Value Fund 13,273,704 -
Frank Russell Diversified
Equity Fund - 34,961,977
*Nonparticipant-directed
-8-
HERMAN MILLER, INC.
PROFIT SHARING AND 401(K) PLAN
NOTES TO FINANCIAL STATEMENTS
(Continued)
During 1999 and 1998, the Plan's investments (including investments purchased
and sold, as well as those held during the year) appreciated/(depreciated)
in value by $(46,019,435) and $68,973,923, respectively, as follows for the
years ended:
May 29, 1999 May 30, 1998
------------ ------------
Common Stock $(51,302,600) $65,337,854
Mutual Funds 5,283,165 3,636,069
------------ -----------
$(46,019,435) $68,973,923
============ ===========
(6) NONPARTICIPANT - DIRECTED INVESTMENTS
Information about the net assets and the significant components of the
changes in net assets relating to the nonparticipant-directed investments
is as follows:
May 29, 1999 May 30, 1998
------------ -------------
Net Assets:
Common stock $153,238,727 $192,333,348
Year Ended
May 29, 1999
-------------
Changes in Net Assets:
Contributions $ 18,018,873
Dividends 1,537,675
Net depreciation (51,302,600)
Benefits payments (7,848,146)
Transfers from participant-directed
Investments 698,748
Administrative expenses (199,171)
------------
$(39,094,621)
============
(7) RELATED PARTY TRANSACTIONS
Certain plan investments are shares of mutual funds managed by Putnam
Investment Management, Inc. an affiliate of Putnam Fiduciary Trust Company,
the Trustee. Therefore, these transactions qualify as party-in-interest.
Fees paid by the Plan for trustee services were $277,301 for the year ended
May 29, 1999.
-9-
HERMAN MILLER, INC.
PROFIT SHARING AND 401(K) PLAN
NOTES TO FINANCIAL STATEMENTS
(Continued)
(8) RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
The following is a reconciliation of net assets available for benefits per
the financial statements to the Form 5500:
May 29, 1999 May 30, 1998
------------ ------------
Net assets available for benefits
per the financial statements $272,486,041 $258,256,536
Amounts allocated to withdrawing
participants (300,784) (569,211)
------------ ------------
Net assets available for benefits
per the Form 5500 $272,185,257 $257,687,325
============ ============
The following is a reconciliation of benefits paid to participants per the
financial statements to the Form 5500:
Year Ended
May 29, 1999
------------
Benefits paid to participants per the
financial statements $12,714,978
Add: Amounts allocated to withdrawing
participants at May 29, 1999 300,784
Less: Amounts allocated to withdrawing
Participants at May 30, 1998 (569,211)
-----------
Benefits paid to participants per the Form 5500 $12,446,551
===========
Amounts allocated to withdrawing participants are recorded on the Form 5500
for benefit claims that have been processed and approved for payment prior
to May 29, but not yet paid as of that date.
(9) TAX STATUS
The Internal Revenue Service has determined and informed the Company by a
letter dated October 2, 1996, that the Plan is qualified and the trust
established under the Plan is tax-exempt under the appropriate 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 provisions o the IRC.
-10-
SCHEDULE I
HERMAN MILLER, INC.
PROFIT SHARING AND 401(K) PLAN
EIN: 38-0837640 PLAN NUMBER: 002
ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF MAY 29, 1999
Fair
Identity of Issuer Description of Investment Cost Value
- ------------------ ------------------------- ------------- ------------
Common Stock
------------
Herman Miller, Inc.* Herman Miller, Inc.
Common Stock Fund
(7,288,993 Shares) $79,220,543 $147,146,518
Mutual Funds ------------ ------------
------------
Putnam Fiduciary Trust Asset Allocation
Company* Fund Conservative
(22,047 Units) 232,349 231,940
Asset Allocation
Fund Balanced
(41,404 Units) 502,337 503,888
Asset Allocation
Fund Growth
(57,943 Units) 805,097 812,364
OTC and Emerging
Growth Fund
(42,818 Units) 773,210 777,574
Investors Fund
(1,128,020 Units) 16,211,171 16,920,316
International Growth Fund
(228,665 units) 4,343,219 4,644,094
Stable Value Fund
(13,280,175 units) 13,273,694 13,273,704
Voyager Fund
(2,380,157 units) 51,205,724 55,368,286
S&P 500 Index Fund
(151,429 units) 4,505,596 4,655,548
-11-
SCHEDULE I
HERMAN MILLER, INC.
PROFIT SHARING AND 401(K) PLAN
EIN: 38-0837640 PLAN NUMBER: 002
ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF MAY 29, 1999
(Continued)
Fair
Identity of Issuer Description of Investment Cost Value
- ------------------ ------------------------- ------------- ------------
Vanguard Wellington Fund
(102,545 units) 3,139,541 3,118,499
PIMCO Total Return Fund
(802,240 units) 8,700,766 8,172,314
Fidelity Equity Income Fund
(81,602 units) 4,558,548 4,816,590
----------- ------------
Total Mutual Funds 108,251,252 113,295,117
----------- ------------
Various plan participants*
Participant Loans
(interest rates ranging
from 6.350% to 9.125%) 5,549,634 5,549,634
----------- ------------
Total Assets Held for Investment Purposes $193,021,429 $265,991,269
============ ============
*Represents parties-in-interest
-12-
SCHEDULE II
HERMAN MILLER, INC.
PROFIT SHARING AND 401(K) PLAN
EIN: 38-0837640 PLAN NUMBER: 002
ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED MAY 29, 1999
Purchases Sales
-------------------------- ---------------------------------------------------------
Identity of Issuer and Number of Purchase Number of
Description of Investment Transactions Price Transactions Proceeds Cost of Asset Net Gain
------------------------- ------------ ---------- ------------ ---------- ------------- ----------
A series of transactions in
excess of 5% of the plan assets at
The beginning of the plan year:
The Huntington National Bank* -
Monitor Money Market Fund 326 $12,153,690 253 $15,161,847 $15,161,847 $ -
Frank Russell-
Diversified Equity Fund 197 4,322,389 159 40,176,311 39,284,366 891,945
Putnam Fiduciary Trust Company*-
Putnam Voyager Fund 151 10,558,941 187 8,115,138 7,633,546 481,592
Putnam Investors Fund 148 17,697,447 146 1,610,585 1,486,277 124,308
Putnam Stable Value Fund 190 16,775,088 170 3,494,913 3,494,913 -
Herman Miller, Inc.* -
Common Stock Fund 179 21,561,849 248 13,902,113 12,714,408 1,187,705
*Represents parties-in-interest
-13-
