UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 11-K
(Mark One)
x ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the year ended December 31, 2012
o TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to
Commission file number 001-33961
A. Full title of the plan and the address of the plan, if different from that of the issuer named below:
HILL INTERNATIONAL, INC. 401(k)
RETIREMENT SAVINGS PLAN
B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
Hill International, Inc.
303 Lippincott Centre
Marlton, NJ 08053
REQUIRED INFORMATION
The following financial statements of Hill International, Inc. 401(k) Retirement Savings Plan are being filed herewith:
Description |
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Financial Statements: |
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6 | |
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Schedule H, Line 4i Schedule of Assets (Held at End of Year) |
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14 |
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15 | |
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16 |
Report of Independent Registered Public Accounting Firm
To the Participants and Administrator of
Hill International, Inc. 401(k) Retirement Savings Plan
Report on the Financial Statements
We have audited the accompanying financial statements of Hill International, Inc. 401(k) Retirement Savings Plan (the Plan), which comprise the statements of net assets available for benefits as of December 31, 2012 and 2011, and the related statement of changes in net assets available for benefits for the year ended December 31, 2012, and the related notes to the financial statements.
Managements Responsibility for the Financial Statements
Plan management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free of material misstatements, whether due to fraud or error.
Auditors Responsibility
Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). 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 involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. These procedures selected depend on the auditors judgment, including the assessment of the risk of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Plans preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the plans internal control. Accordingly, we express no such opinion. An audit includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
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 at December 31, 2012 and 2011, and the changes in its net assets available for benefits for the year ended December 31, 2012, in accordance with accounting principles generally accepted in the United States of America.
Report on Supplemental Information
Our audits were conducted for the purpose of forming an opinion on the financial statements as a whole. The supplemental schedule of assets (held at end of year) as of December 31, 2012 is presented for purposes of additional analysis and is not a required part of the financial statements, but is supplementary information required by the Department of Labors Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. Such information is the responsibility of the Plans management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the financial statements taken as a whole.
JENNIFER L ANDERSON, LLC
/s/ JENNIFER L ANDERSON, LLC
Moorestown, New Jersey
June 4, 2013
HILL INTERNATIONAL, INC. 401(k) RETIREMENT SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
December 31, 2012 and 2011
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2012 |
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2011 |
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ASSETS |
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Investments, at fair value: |
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Interest bearing cash |
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$ |
1,597,074 |
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$ |
1,442,823 |
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Mutual funds |
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35,809,878 |
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31,330,483 |
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Common stock |
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3,173,171 |
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4,441,456 |
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Guaranteed investment contract |
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9,470,068 |
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7,879,904 |
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Total investments |
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50,050,191 |
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45,094,666 |
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Receivables: |
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Notes receivable from participants |
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1,445,170 |
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1,061,399 |
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TOTAL ASSETS |
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$ |
51,495,361 |
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$ |
46,156,065 |
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NET ASSETS REFLECTING INVESTMENTS AT FAIR VALUE |
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$ |
51,495,361 |
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$ |
46,156,065 |
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Adjustment from fair value to contract value for fully benefit-responsive investment contracts |
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(1,008 |
) | ||
NET ASSETS AVAILABLE FOR BENEFITS |
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$ |
51,495,361 |
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$ |
46,155,057 |
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See accompanying notes to financial statements.
HILL INTERNATIONAL, INC. 401(k) RETIREMENT SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
Year Ended December 31, 2012
ADDITIONS TO NET ASSETS ATTRIBUTABLE TO: |
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Investment income: |
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Net appreciation in fair value of investments |
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$ |
1,805,917 |
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Interest |
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246,468 |
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Dividends and capital gains |
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1,117,605 |
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3,169,990 |
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Interest income on notes receivable from participants |
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38,651 |
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Contributions: |
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Employer |
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670,849 |
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Participants |
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5,655,389 |
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Other (including rollovers) |
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404,132 |
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TOTAL CONTRIBUTIONS |
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6,730,370 |
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TOTAL ADDITIONS |
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9,939,011 |
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DEDUCTIONS FROM NET ASSETS ATTRIBUTABLE TO: |
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Benefits paid to participants |
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4,598,707 |
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TOTAL DEDUCTIONS |
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4,598,707 |
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NET INCREASE |
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5,340,304 |
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NET ASSETS AVAILABLE FOR BENEFITS |
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Beginning of year |
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46,155,057 |
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END OF YEAR |
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$ |
51,495,361 |
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See accompanying notes to financial statements.
HILL INTERNATIONAL, INC 401(k) RETIREMENT SAVINGS PLAN
December 31, 2012
NOTE 1 SUMMARY OF ACCOUNTING POLICIES
Basis of Accounting
The accompanying financial statements of Hill International, Inc. 401(k) Retirement Savings Plan (the Plan) are prepared using the accrual basis of accounting.
Estimates
The preparation of the financial statements in accordance with accounting principles generally accepted in the United States of America requires the plan administrator to make estimates and assumptions that affect certain reported amounts and disclosures. Actual results could differ from these estimates.
Investment Valuation and Income Recognition
Investments Investments, except the guaranteed investment contract (GIC), are presented at fair value, based on the quoted market prices of the underlying securities within each fund at December 31, 2012 and 2011. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The GIC is fully benefit-responsive and is reported at fair value and adjusted to contract value. Contract value represents the accumulated contributions plus accrued net earnings, minus distributions. Fair value of the GIC is estimated using discounted cash flows.
GICs held by a defined-contribution plan are required to be reported at fair value. However, contract value is the relevant measurement attribute for that portion of the net assets available for benefits of a defined-contribution plan attributable to fully benefit-responsive investment contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan. The Statement of Net Assets Available for Benefits presents the fair value of the GIC as well as the adjustment from fair value to contract value. The Statement of Changes in Net Assets Available for Benefits is prepared on a contract value basis.
Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net appreciation includes the Plans gains and losses on investments bought and sold as well as held during the year.
Notes receivable from participants
Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Delinquent participant loans are reclassified as distributions based upon the terms of the Plan.
Administrative Expenses
The majority of administrative expenses of the Plan are paid by Hill International, Inc. (the Sponsor).
Payment of Benefits
Benefit payments are recorded upon distribution.
HILL INTERNATIONAL, INC 401(k) RETIREMENT SAVINGS PLAN
Notes to Financial Statements
December 31, 2012
NOTE 2 DESCRIPTION OF PLAN
The following brief description of the Plan is provided for general information purposes only. Participants should refer to the plan document for a more complete description of the Plans provisions.
General
The Plan is a defined contribution plan covering all domestic employees of the Sponsor who have thirty days of service and are age twenty-one or older, excluding bona fide residents of Puerto Rico, as defined in Internal Revenue Code Section 937, who do not have to pay U.S. income taxes on their Puerto Rico source income. The Plan is voluntary. It is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). After meeting eligibility requirements, an employee can begin participating on the next entry date. Participation commences on the first day of the month coinciding with or next following the date on which the employee meets the requirements.
Contributions
Each participant, if eligible, may contribute pre-tax annual compensation up to a maximum of $22,500 per plan year, which includes both pre-tax and catch-up deferrals. The limit may change each year to correspond with the Internal Revenue Code. Effective September 1, 2011, the Plan was amended to limit the maximum employee contribution to 75% of annual compensation. Through April 30, 2012, the Sponsor contributed fifty cents for every dollar contributed up to a maximum of six percent of gross wages. Half of the Sponsors contribution was used for open market purchases of the Sponsors common stock. Effective May 1, 2012, the Sponsor suspended its contributions to the Plan. Effective May 7, 2012, the Plan was amended to permit the Sponsor to make a discretionary matching contribution equal to a uniform percentage or dollar amount of the participants elective contributions; each year, the Sponsor will determine the formula for the discretionary matching contribution. Contributions to the Plan by highly compensated employees are limited to certain employee deferral percentage relationships. Plan assets are maintained at Prudential Financial, Inc. and are invested at the election of the participants.
Participant Accounts
The plan includes an automatic deferral feature. The amount that is automatically contributed to eligible employees accounts is equal to 3% of compensation unless the employee selects an alternative deferral amount or elects not to defer under the plan. Each participants account is credited with the participants contribution and allocations of (a) the Sponsors contribution and (b) Plan earnings, and charged with an allocation of administrative expenses. Allocations are based on participant earnings or account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participants vested account.
Vesting
Participants are immediately 100 percent vested in both employee contributions and employer matching contributions.
Notes Receivable from Participants
Subject to the Administrators approval, a participant may elect to borrow from the plan an amount, which may not
HILL INTERNATIONAL, INC 401(k) RETIREMENT SAVINGS PLAN
Notes to Financial Statements
December 31, 2012
exceed $50,000 or 50% of the participants account balance, whichever is less. These interest-bearing loans are secured by the participants account and are repaid through payroll deductions. Loans may not exceed five years unless they are used to buy a participants principal residence. Interest is charged based on the prime rate of interest as reflected by local banks, as set forth in the plan agreement, and is fixed for the term of the loan.
Payment of Benefits
Withdrawals under the Plan are allowed for termination of employment, hardship (as defined by the Plan), retirement, or attainment of age 59 ½. Distribution may also be made to the participant in the event of physical or mental disability or to a named beneficiary in the event of the participants death. Distributions are made in a lump sum payment or by installment payments.
Administrative Expenses
The majority of administrative expenses of the Plan are paid by the Sponsor.
Plan Termination
Although it has not expressed any intent to do so, the Sponsor has the right under the Plan to discontinue its contributions at any time and to terminate the plan subject to the provisions of ERISA. In the event of Plan termination, the participants accounts would be distributed in accordance with Section 401(k)(10) of the Internal Revenue Code (IRC).
NOTE 3 GUARANTEED INVESTMENT CONTRACT WITH INSURANCE COMPANY
The Plan has a fully benefit-responsive investment contract with the Prudential Insurance Company of America (Prudential). Prudential maintains the contributions in a general account, which is credited with earnings on the underlying investments and charged for participant withdrawals and administrative expenses. The contract is included in the financial statements at fair value and then adjusted to contract value as reported to the Plan by Prudential. Contract value represents contributions made under the contract, plus earnings, minus participant withdrawals and administrative expenses. Participants may ordinarily direct the withdrawal or transfer of all or a portion of their investment at contract value. Prudential may not terminate the contract at any amount less than contract value.
Prudential is contractually obligated to pay the principal and specified interest rate that is guaranteed to the Plan. Interest is credited on contract balances using an old money/new money or bucketed approach. Under this methodology, different interest crediting rates are applied to contributions based on the calendar quarter in which the contributions were made. An interest crediting rate (New Money Rate) is established at the beginning of each calendar quarter. The New Money Rate is applied to all contributions made to the product during that quarter. Four New Money Rates and corresponding buckets are established each year. These New Money Rates are guaranteed through December 31 of the following calendar year. Upon the expiration of the New Money Rate guarantees, the rates for each of these buckets are reset and are then known as Old Money Rates. Old Money Rates for each bucket are reset on an annual basis thereafter. The minimum crediting rate under the contract is 3.00%. Withdrawals and transfers out are made on a pro-rata basis from all buckets.
HILL INTERNATIONAL, INC 401(k) RETIREMENT SAVINGS PLAN
Notes to Financial Statements
December 31, 2012
|
|
2012 |
|
2011 |
|
Average yields: |
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|
|
|
|
Based on annualized earnings (1) |
|
3.00 |
% |
3.00 |
% |
Based on interest rate credited to participants (2) |
|
3.00 |
% |
3.00 |
% |
(1) Computed by dividing the earnings credited to the Plan on the last day of the Plan year by the end of the Plan year Fair Value and then annualizing the results.
(2) Computed by dividing the earnings credited to the participants on the last day of the Plan year by the end of the Plan year Fair Value and then annualizing the results.
NOTE 4 FAIR VALUE MEASUREMENTS
FASB ASC 820, Fair Value Measurements and Disclosures, establishes a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quote prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under FASB ASC 820 are described as follows:
Level 1 Fair Value Measurements
Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.
Level 2 Fair Value Measurements
Inputs to the valuation methodology include:
· Quoted prices for similar assets or liabilities in active markets;
· Quoted prices for identical or similar assets or liabilities in inactive markets;
· Inputs other than quoted prices that are observable for the asset or liability;
· Inputs derived principally from or corroborated by observable market data by correlation or other means.
If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.
Level 3 Fair Value Measurements
Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
The assets or liabilitys fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs.
HILL INTERNATIONAL, INC 401(k) RETIREMENT SAVINGS PLAN
Notes to Financial Statements
December 31, 2012
Following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2011.
Common stock: Valued at the closing price reported on the active market on which the individual securities are traded.
Mutual funds: Valued at the net asset value (NAV) of shares held by the Plan at year-end.
Guaranteed investment contract: Valued at fair value by discounting the related cash flows based on current yields of similar instruments with comparable durations considering the credit-worthiness of the issuer.
The preceding methods may produce a fair value calculation that may not be indicative of net realizable value or reflective of future values. Furthermore, although the Plan believes its valuation methods are appropriate and consistent with those used by other market participants, the use of different methodologies or assumptions to determine fair value of certain financial instruments could result in a different fair value measurement at the reporting date.
The following tables present by level, within the fair value hierarchy, the Plans assets at fair value:
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|
Assets at Fair Value at |
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December 31, 2012 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Plan assets: |
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|
|
|
|
|
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| ||||
Interest bearing cash |
|
$ |
1,597,074 |
|
$ |
|
|
$ |
|
|
$ |
1,597,074 |
|
Mutual funds: |
|
|
|
|
|
|
|
|
| ||||
Global Stock - Blend |
|
528,228 |
|
|
|
|
|
528,228 |
| ||||
Global Stock - Growth |
|
4,428,661 |
|
|
|
|
|
4,428,661 |
| ||||
Balanced Value |
|
4,402,564 |
|
|
|
|
|
4,402,564 |
| ||||
Large Cap - Growth |
|
8,594,359 |
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8,594,359 |
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Large Cap - Value |
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2,299,619 |
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2,299,619 |
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Large Cap - Blend |
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6,382,146 |
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6,382,146 |
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Mid Cap - Growth |
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2,214,305 |
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|
|
|
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2,214,305 |
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Small Cap - Value |
|
3,641,626 |
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|
|
|
|
3,641,626 |
| ||||
Fixed Income - Intermediate Bond |
|
3,318,370 |
|
|
|
|
|
3,318,370 |
| ||||
Common stock |
|
3,173,171 |
|
|
|
|
|
3,173,171 |
| ||||
Guaranteed Investment Contract |
|
|
|
|
|
9,470,068 |
|
9,470,068 |
| ||||
Total assets at fair value |
|
$ |
40,580,123 |
|
$ |
|
|
$ |
9,470,068 |
|
$ |
50,050,191 |
|
HILL INTERNATIONAL, INC 401(k) RETIREMENT SAVINGS PLAN
Notes to Financial Statements
December 31, 2012
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Assets at Fair Value at |
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December 31, 2011 |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Plan assets: |
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|
|
|
|
|
|
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| ||||
Interest bearing cash |
|
$ |
1,442,823 |
|
$ |
|
|
$ |
|
|
$ |
1,442,823 |
|
Mutual funds: |
|
|
|
|
|
|
|
|
| ||||
Global Stock - Blend |
|
405,374 |
|
|
|
|
|
405,374 |
| ||||
Global Stock - Growth |
|
4,454,498 |
|
|
|
|
|
4,454,498 |
| ||||
Balanced Value |
|
3,586,394 |
|
|
|
|
|
3,586,394 |
| ||||
Large Cap - Growth |
|
7,755,389 |
|
|
|
|
|
7,755,389 |
| ||||
Large Cap - Value |
|
2,215,561 |
|
|
|
|
|
2,215,561 |
| ||||
Large Cap - Blend |
|
5,546,813 |
|
|
|
|
|
5,546,813 |
| ||||
Mid Cap - Growth |
|
1,977,991 |
|
|
|
|
|
1,977,991 |
| ||||
Small Cap - Value |
|
3,151,665 |
|
|
|
|
|
3,151,665 |
| ||||
Fixed Income - Intermediate Bond |
|
2,236,798 |
|
|
|
|
|
2,236,798 |
| ||||
Common stock |
|
4,441,456 |
|
|
|
|
|
4,441,456 |
| ||||
Guaranteed Investment Contract |
|
|
|
|
|
7,879,904 |
|
7,879,904 |
| ||||
Total assets at fair value |
|
$ |
37,214,762 |
|
$ |
|
|
$ |
7,879,904 |
|
$ |
45,094,666 |
|
The table below sets forth a summary of the changes in the fair value of the Plans level 3 assets, the Guaranteed Interest Account, for the year ended December 31, 2012:
Balance, beginning of year |
|
$ |
7,897,904 |
|
Realized gains (losses) |
|
|
| |
Unrealized gains (losses) |
|
|
| |
Purchases, sales, issuances and settlements, net |
|
1,572,164 |
| |
Balance, end of year |
|
$ |
9,470,068 |
|
NOTE 5 INVESTMENTS
During 2012, the Plans investments (including investments bought, sold, exchanged, as well as held during the year) appreciated (depreciated) in fair value as follows:
|
|
Net Realized and Unrealized Appreciation/ |
| |
|
|
(Depreciation) in Fair Value of Investments |
| |
Mutual Funds |
|
$ |
3,084,721 |
|
Common Stock |
|
(1,278,804 |
) | |
Total |
|
$ |
1,805,917 |
|
HILL INTERNATIONAL, INC 401(k) RETIREMENT SAVINGS PLAN
Notes to Financial Statements
December 31, 2012
Investments that represent 5% or more of fair value of the Plans net assets are as follows:
|
|
December 31, |
| ||||
|
|
2012 |
|
2011 |
| ||
Prudential Guaranteed Interest Account |
|
$ |
9,470,068 |
|
$ |
7,879,904 |
|
Oppenheimer Global Opportunities Fund A |
|
4,428,661 |
|
4,454,498 |
| ||
MFS Funds Total Return Fund A |
|
4,402,564 |
|
3,586,394 |
| ||
Wells Fargo Advantage Growth Class A |
|
3,810,120 |
|
* |
| ||
Invesco Small Cap Value A |
|
3,641,626 |
|
3,151,665 |
| ||
PIMCO Total Return Fund A |
|
3,318,370 |
|
* |
| ||
Hill International, Inc. Common Stock |
|
3,173,171 |
|
4,441,456 |
| ||
Prudential Stock Index Fund Z |
|
3,153,096 |
|
2,527,221 |
| ||
JP Morgan Large Cap Growth Fund A |
|
3,100,478 |
|
* |
| ||
John Hancock Large Cap Equity Fund |
|
* |
|
3,347,612 |
| ||
American Funds Growth Fund of America A |
|
* |
|
2,825,105 |
| ||
* amount does not exceed 5% of the Plans net assets at the specified date.
NOTE 6 RELATED PARTIES AND PARTIES IN INTEREST TRANSACTIONS
Certain Plan investments are shares of mutual funds managed by Prudential. Prudential is the trustee as defined by the Plan. These transactions qualify as exempt party-in-interest transactions.
As of December 31, 2012, the Plan owned 866,987 shares of the Sponsors common stock with a fair value of $3,173,171 and, as of December 31, 2011, the Plan owned 864,096 shares of the Sponsors common stock with a fair value of $4,441,456. The Sponsor does not pay dividends on its common stock.
NOTE 7 TAX STATUS
The plan received a favorable determination letter from the Internal Revenue Service dated March 31, 2008, stating that the Plan and related trust are designed in accordance with applicable sections of the Internal Revenue Code (IRC). Although the Plan has been amended since receiving the determination letter, the Plan administrator and the Plans tax counsel believe that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC. Therefore, no provision for income taxes has been included in the Plans financial statements.
Accounting principles generally accepted in the United States of America require Plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain tax position that more likely than not would not be sustained upon examination by the Internal Revenue Service. The Plan Administrator has analyzed the tax positions taken by the Plan and has concluded that as of December 31, 2012, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The Plan administrator believes it is no longer subject to income tax examinations for years prior to 2009.
HILL INTERNATIONAL, INC 401(k) RETIREMENT SAVINGS PLAN
Notes to Financial Statements
December 31, 2012
NOTE 8 RISKS AND UNCERTAINTIES
The Plan invests in various investment funds. Investments in general are exposed to various risks, such as interest rate, credit, and overall volatility risk. Due to the level of risk associated with certain investments, it is at least reasonably possible that changes in the values of investments will occur in the near term and that such changes could materially affect the amounts reported in the statement of net assets available for benefits.
Note 9 SUBSEQUENT EVENT
Effective January 1, 2013, the Sponsor elected to make matching contributions to the Plan. For 2013, the Sponsor will contribute fifty cents for every dollar contributed by the participants up to a maximum of two percent of gross wages.
Hill International, Inc. 401(k) Retirement Savings Plan
Year Ended December 31, 2012
EIN # 20-0953973
Plan # 003
Schedule H, Line 4i, SCHEDULE OF ASSETS (HELD AT END OF YEAR)
a. |
|
b. Identity of issuer, |
|
c. Description |
|
|
|
|
| ||
in |
|
borrower, lessor, |
|
of |
|
d. |
|
e. Current |
| ||
|
|
|
|
|
|
|
|
|
| ||
|
|
Interest Bearing Cash |
|
|
|
|
|
|
| ||
|
|
HighMark |
|
HighMark US Government Money Market Fund |
|
** |
|
$ |
1,597,074 |
| |
|
|
|
|
|
|
|
|
|
| ||
|
|
Mutual Funds |
|
|
|
|
|
|
| ||
* |
|
Prudential Mutual Funds |
|
Prudential Stock Index Fund Z |
|
** |
|
3,153,096 |
| ||
* |
|
Prudential Mutual Funds |
|
Prudential Jennison Equity Income Fund A |
|
** |
|
2,299,619 |
| ||
* |
|
Prudential Mutual Funds |
|
Prudential Jennison Mid Cap Growth Fund A |
|
** |
|
2,214,305 |
| ||
|
|
PIMCO |
|
PIMCO Total Return Fund A |
|
** |
|
3,318,370 |
| ||
|
|
American Funds |
|
Amcap Fund |
|
** |
|
1,683,761 |
| ||
|
|
Invesco Ltd. |
|
Invesco Small Cap Value Fund A |
|
** |
|
3,641,626 |
| ||
|
|
Invesco Ltd. |
|
Invesco Charter Fund A |
|
** |
|
1,482,337 |
| ||
|
|
John Hancock |
|
John Hancock Global Opportunities Fund A |
|
** |
|
528,228 |
| ||
|
|
JP Morgan Chase |
|
JP Morgan Large Cap Growth Fund A |
|
** |
|
3,100,478 |
| ||
|
|
Lord, Abbet & Co. LLC |
|
Lord Abbet Equity Fund A |
|
** |
|
1,746,713 |
| ||
|
|
MFS Funds |
|
MFS Total Return Fund A |
|
** |
|
4,402,564 |
| ||
|
|
Oppenheimer Funds |
|
Oppenheimer Global Opportunities Fund A |
|
** |
|
4,428,661 |
| ||
|
|
Wells Fargo & Co. |
|
Wells Fargo Adv Growth Class A |
|
** |
|
3,810,120 |
| ||
|
|
|
|
|
|
|
|
|
| ||
|
|
Common Stock |
|
|
|
|
|
|
| ||
* |
|
Hill International, Inc. |
|
Common stock |
|
** |
|
3,173,171 |
| ||
|
|
|
|
|
|
|
|
|
| ||
|
|
Funds Held in Insurance Company |
|
|
|
|
|
|
| ||
* |
|
The Prudential Insurance Co of America |
|
Guaranteed Interest Account |
|
** |
|
9,470,068 |
| ||
|
|
|
|
|
|
|
|
|
| ||
|
|
Notes Receivable from Participants |
|
|
|
|
|
|
| ||
|
|
Notes receivable from participants, with interest rates of 3.25% to 9.00% maturing through 2022 |
|
|
|
1,445,170 |
| ||||
|
|
|
|
|
|
|
|
|
| ||
|
|
Total investments per Schedule H, Line 1f |
|
|
|
$ |
51,495,361 |
| |||
* Indicates party-in-interest to the Plan
** Not required for participant-directed investments
Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
HILL INTERNATIONAL, INC. 401(K) RETIREMENT SAVINGS PLAN | |
|
|
| |
Dated: June 4, 2013 |
By: |
/s/ Catherine H. Emma | |
|
|
Printed Name: |
Catherine H. Emma |
|
|
Title: |
Plan Administrator |
Hill International, Inc. 401(k) Retirement Savings Plan
Annual Report on Form 11-K
For the Year Ended December 31, 2012
Exhibit No. |
|
Description |
|
|
|
23 |
|
Consent of Jennifer L. Anderson LLC |