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
|
For
the fiscal year ended: December 31, 2007
OR
o
|
|
TRANSITION
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
For
the transition period from
to
Commission file number:
1-14365
|
A.
|
Full
title of the plan and the address of the plan, if different from that of
the issuer named below:
|
EL
PASO CORPORATION
RETIREMENT
SAVINGS PLAN
(Full
title of the Plan)
(herein
referred to as the "Plan")
|
B.
|
Name
of issuer of the securities held pursuant to the plan and the address of
its principal executive office:
|
EL
PASO CORPORATION
(Name
of the issuer of the securities held pursuant to the Plan)
(herein
referred to as the "Company")
1001
Louisiana Street
Houston,
Texas 77002
El Paso Corporation Retirement Savings Plan
Financial
Statements and Supplemental Schedule
December 31,
2007 and 2006 and For the Year Ended December 31, 2007
Table
of Contents
|
Page(s)
|
|
|
Report of Independent Registered Public
Accounting Firm
|
1
|
|
|
Financial Statements
|
|
|
|
Statements of
Net Assets Available for Benefits
|
2
|
|
|
Statement of
Changes in Net Assets Available for Benefits
|
3
|
|
|
Notes to the
Financial Statements
|
4-10
|
|
|
Supplemental Schedule
|
|
|
|
Schedule H,
Line 4(i) - Schedule of Assets (Held at End of Year)
|
11
|
|
|
Signature
|
12
|
|
|
Report of Independent Registered Public Accounting
Firm
El
Paso Corporation Retirement Savings
Plan
|
We have
audited the accompanying statements of net assets available for benefits of the
El Paso Corporation Retirement Savings Plan as of December 31, 2007 and
2006, and the related statement of changes in net assets available for benefits
for the year ended December 31, 2007. 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 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. We were not engaged to perform an
audit of the Plan’s internal control over financial reporting. Our audits
included consideration of internal control over financial reporting as a basis
for designing audit procedures that are appropriate in the circumstances, but
not for the purpose of expressing an opinion on the effectiveness of the Plan’s
internal control over financial reporting. Accordingly, we express no such
opinion. An audit also includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements, assessing the
accounting principles used and significant estimates made by management, and
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 at December
31, 2007 and 2006, and the changes in its net assets available for benefits for
the year ended December 31, 2007, in conformity with U.S. generally accepted
accounting principles.
Our
audits were performed for the purpose of forming an opinion on the financial
statements taken as a whole. The accompanying supplemental schedule of assets
(held at end of year) as of December 31, 2007, 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 Labor’s Rules and
Regulations for Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. This supplemental schedule is the responsibility of the
Plan’s management. The supplemental schedule has been subjected to the auditing
procedures applied in our audits of the financial statements and, in our
opinion, is fairly stated in all material respects in relation to the financial
statements taken as a whole.
/s/Ernst & Young LLP
Houston,
Texas
June 19
,
2008
El
Paso Corporation Retirement Savings Plan
Statements of Net Assets Available for Benefits
|
|
December
31,
|
|
|
|
2007
|
|
|
2006
|
|
|
|
(In
thousands)
|
|
Assets
|
|
|
|
|
|
|
|
|
Investments
(at fair value)
|
|
$
|
866,887
|
|
|
$
|
853,374
|
|
|
|
|
|
|
|
|
|
|
Receivables:
|
|
|
|
|
|
|
|
|
Interest
|
|
|
19
|
|
|
|
22
|
|
Dividends
|
|
|
497
|
|
|
|
610
|
|
Employer
contributions
|
|
|
652
|
|
|
|
17,261
|
|
Total receivables
|
|
|
1,168
|
|
|
|
17,893
|
|
Total
assets
|
|
|
868,055
|
|
|
|
871,267
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
Accrued expenses
|
|
|
316
|
|
|
|
424
|
|
Total
liabilities
|
|
|
316
|
|
|
|
424
|
|
|
|
|
|
|
|
|
|
|
Net
assets available for benefits at fair value
|
|
|
867,739
|
|
|
|
870,843
|
|
Adjustment
from fair value to contract value for fully
benefit-responsive
investment contracts
|
|
|
(1,607
|
)
|
|
|
2,278
|
|
Net
assets available for benefits
|
|
$
|
866,132
|
|
|
$
|
873,121
|
|
See accompanying notes.
El
Paso Corporation Retirement Savings Plan
Statement of Changes in Net Assets Available for
Benefits
Year
Ended December 31, 2007
(In
thousands)
Additions:
|
|
|
|
Investment
Income:
|
|
|
|
Dividends
|
|
$
|
28,238
|
|
Interest
|
|
|
11,710
|
|
Net
appreciation in fair value of investments
|
|
|
23,362
|
|
Net
investment income
|
|
|
63,310
|
|
|
|
|
|
|
Contributions:
|
|
|
|
|
Employer
|
|
|
17,021
|
|
Participants
|
|
|
38,186
|
|
Total
contributions
|
|
|
55,207
|
|
Total
additions
|
|
|
118,517
|
|
|
|
|
|
|
Deductions:
|
|
|
|
|
Benefits
paid to participants
|
|
|
116,134
|
|
Administrative
fees
|
|
|
1,443
|
|
Transfers
out
|
|
|
7,929
|
|
Total
deductions
|
|
|
125,506
|
|
Net
decrease in net assets available for benefits
|
|
|
(6,989
|
)
|
|
|
|
|
|
Net
assets available for benefits:
|
|
|
|
|
Beginning
of year
|
|
|
873,121
|
|
End
of year
|
|
$
|
866,132
|
|
See
accompanying notes.
El
Paso Corporation Retirement Savings Plan
Notes to Financial Statements
The
following description of the El Paso Corporation Retirement Savings Plan (the
Plan) provides general information about the Plan’s provisions in effect for the
plan year ended December 31, 2007. Participants should refer to the Plan
document and summary plan description for a more complete description of the
Plan’s provisions.
General
The Plan
is a defined contribution plan covering employees of El Paso Corporation (the
Company) and its participating employers, except leased employees, certain
nonresident aliens, certain foreign nationals, and members of any unit covered
by a collective bargaining agreement. The El Paso Corporation Retirement Savings
Plan Committee (the Committee) is responsible for the general administration of
the Plan as described in the Plan document. JPMorgan Chase Bank, N.A. (JPMorgan)
is the trustee of the Plan. JPMorgan Retirement Plan Services is the
recordkeeper for the Plan. The Plan is subject to the provisions of the Employee
Retirement Income Security Act of 1974, as amended (ERISA).
Contributions
A
participant may elect to contribute (before-tax, after-tax or on a Roth basis)
up to 50 percent of his or her eligible compensation. A participant
may increase or decrease his or her contribution elections or make
changes to his or her investment options at any time. In
addition, participants who have attained age 50 are eligible to make catch-up
contributions. Participants may also rollover distributions from
other qualified plans into the Plan.
Individuals
who become eligible employees are automatically enrolled into the Plan with a
before-tax contribution amount of two percent of his or her eligible
compensation excluding bonus earnings. These contributions are
invested in the age–appropriate Lifecycle Funds. Within 30 days of eligibility,
the participant can choose to “opt out” of the Plan, elect a contribution amount
other than two percent, or elect other investment options.
The
Company makes matching contributions that are allocated in the same manner as
that of the participant’s elective contributions. The Company matching
contributions are equal to 75 percent of the participant’s contributions up to a
maximum level of six percent of the participant’s eligible compensation. Company
matching contributions are generally made in cash, although the Company may
elect to make Company matching contributions in Company stock. The Company may
also make additional matching contributions for any plan year, which are
determined and contributed after the end of such plan year. These additional
matching contributions are made at the sole discretion of the
Company. In 2007, the Company made an additional matching
contribution of approximately $17 million in Company stock for the 2006 plan
year, which participants were able to immediately diversify to other
funds. This additional contribution was reflected as an employer
contribution receivable at December 31, 2006. The Company did not
make additional matching contributions for the 2007 plan year.
All
contributions are subject to certain limitations of the Internal Revenue Code
(the Code).
Participant
Accounts
Each
participant’s account is credited with the participant’s contributions, the
Company’s matching contributions, the participant’s share of net earnings or
losses of his or her respective elected investment funds under the
Plan and is charged with an allocation of administrative expenses.
Vesting
A
participant’s interest in his or her account is fully vested at all
times.
Payment
of Benefits
Upon
separation from service with the Company due to death, disability, retirement or
termination, a participant whose account balance exceeds $1,000 may elect to
receive a lump-sum distribution, a deferred lump-sum distribution or
installment payments on a quarterly or annual basis. A participant may receive
installments or defer his or her distributions over a period that ends on or
before April 1 of the year following the calendar year in which the participant
attains age 70-1/2. A participant whose account balance is $1,000 or
less and has not commenced receiving installment payments will automatically
receive an immediate lump-sum distribution equal to his or her account
balance.
In
February 2007, the Company sold ANR Pipeline Company (ANR) and its 50 percent
interest in Great Lakes Gas Transmission (Great Lakes). As a result of the sale,
the Plan paid benefits to ANR participants who elected a lump-sum distribution
or elected to rollover their balances. Great Lakes participants could
elect to transfer their account balances to another plan or have their balances
remain with the Plan. The Great Lakes participants who elected to
transfer their account balances are reflected as transfers out on the statement
of changes in net assets available for benefits.
Participant
Loans
Participants
may obtain a loan against the balance of their account. To obtain a loan, the
participant must have a total account balance of at least $2,000 excluding any
amounts held in an IRA rollover account under the Plan. Loan amounts can range
from $1,000 to $50,000 but may not be more than 50 percent of the total balance
in the participant’s account, excluding any IRA rollover account balance. The
$50,000 limit is reduced by the participant’s highest outstanding loan balance
during the preceding 12-month period. A participant may not have more than two
loans outstanding at any point in time. The interest rate on a loan is fixed and
rates are calculated at one percent above the prime rate, which is determined on
the last business day of the month preceding the quarter in which the loan is
taken. The repayment period varies from one to five years on a
general loan and up to 15 years on a new home loan. There is a one-time $50 loan
origination fee per loan. If a participant terminates employment with the
Company, they may continue to make loan payments through a pre-authorized check
agreement. If the loan is not repaid, it will automatically be
treated as a distribution to the participant.
Withdrawals
Under
certain circumstances a participant may request a hardship withdrawal for an
immediate financial need relating to medical or funeral and burial
expenses. Hardship withdrawals are strictly regulated by the Internal
Revenue Service (IRS) and a participant must exhaust all available loan options
and available Plan distributions prior to requesting a hardship withdrawal.
In-service withdrawals are also available in certain limited
circumstances.
Investment
in Company Stock
The Plan
invests in common stock of the Company through its Company Stock Fund. The
Company Stock Fund may also hold cash or other short-term fixed income
securities, although these are expected to be a small percentage of the
fund.
The Plan
limits the amount participants can invest in the Company Stock Fund to
encourage diversification of their accounts. Each payroll period, a
participant can direct up to a maximum of 25 percent of his or
her contributions in the Company Stock Fund. If a participant
directs more than 25 percent of his or her contributions for such
payroll period into the Company Stock Fund, the percentage in excess will be
invested in the age-appropriate Lifecycle.
In
addition, a participant may not transfer amounts from other investment funds
into the Company Stock Fund to the extent the transfer would result in more than
25 percent of the participant’s total account balance being invested in the
Company Stock Fund.
Each
participant is entitled to exercise voting rights attributable to the shares
allocated to his or her account and is notified by the Company prior
to the time that such rights may be exercised. The Trustee is not
permitted to vote any allocated shares for which instructions have not been
given by a participant. The Trustee votes any unallocated shares in the same
proportion as those shares that were allocated, unless the Committee directs the
Trustee otherwise. Participants have the same voting rights in the
event of a tender or exchange offer.
2.
|
Basis of Accounting and Summary of Significant Accounting
Policies
|
Basis
of Accounting
The
financial statements of the Plan are prepared on the accrual basis of
accounting.
Use
of Estimates
The
preparation of financial statements in conformity with United States
generally accepted accounting principles requires management to make estimates
that affect the reported amounts in the financial statements and disclosures
related to the Plan. Actual results can differ from those
estimates.
New
Accounting Pronouncements Issued But Not Yet Adopted
In
September 2006, the FASB issued SFAS No. 157,
Fair Value Measurements
,
which provides guidance on measuring the fair value of assets and liabilities in
financial statements, including those of benefit plans. The
provisions of this standard for financial assets and liabilities will be adopted
effective January 1, 2008 and the impact that the provisions of this standard
will have on the Plan’s financial statements is currently being
evaluated.
Valuation
of Investments
Investments
held by the Plan, with the exception of certain investment contracts with
financial institutions and insurance companies, short-term securities, and
participant loans, are carried at fair value based on quoted market prices, or
in the case of common collective trusts, the net asset value as determined by
the issuer based on the fair value of the underlying securities as of the
valuation date. Short-term securities and participant loans are carried at cost
which approximates fair value. The Plan’s investment contracts with financial
institutions and insurance companies are recorded at their fair value;
however, these contracts are fully benefit-responsive and an
adjustment of these contracts to their contract value is reflected in the
statements of net assets available for benefits. Contract value represents the
original cost of the contract, plus interest (based upon the crediting rates of
the underlying contracts) and deposits, reduced by administrative fees,
transfers out, and withdrawals. Purchases and sales of securities are reflected
on a trade-date basis. The basis of securities sold is determined by average
cost.
Investment
Income
Dividend
income is recorded on the ex-dividend date. Interest income is recorded as
earned on an accrual basis.
Payment
of Benefits
Benefits
are recorded when paid.
Administrative
Expenses
Administrative
expenses include participant recordkeeping and trustee fees, and certain
professional fees incurred and paid by the Plan. In addition, expenses directly
relating to the purchase, sale, or transfer of the Plan’s investments are
charged to the particular investment fund to which the expense relates. Certain
administrative expenses of the Plan are paid by the Company.
Risks
and Uncertainties
The Plan
invests in various investment securities that are exposed to various risks, such
as interest rate risk, market risk and credit risk. Due to the level of risk
associated with these securities, it is at least reasonably possible that
changes in the values of these securities will occur in the near term and those
changes could materially affect the amounts reported in the statements of net
assets available for benefits and participants' account balances.
Investments
representing five percent
or
more of the Plan’s net assets at December 31, 2007 and 2006 are as
follows:
|
|
2007
|
|
|
2006
|
|
|
|
(In
thousands)
|
|
El
Paso Corporation Company Stock
|
|
$
|
213,075
|
|
|
$
|
231,003
|
|
Barclays
Equity Index Fund T
|
|
|
77,264
|
|
|
|
52,692
|
|
Dodge
& Cox Stock Fund
|
|
|
66,463
|
|
|
|
67,371
|
|
American
Funds Growth Fund of America - R5
|
|
|
109,299
|
|
|
|
97,246
|
|
Dodge
& Cox Balanced Fund
|
|
|
57,707
|
|
|
|
60,833
|
|
During
2007, the Plan’s investments appreciated (depreciated) as follows (in
thousands):
Company
stock
|
|
$
|
24,847
|
|
Mutual
funds
|
|
|
(6,331
|
)
|
Common
collective trusts
|
|
|
4,846
|
|
Net
appreciation in fair value of investments
|
|
$
|
23,362
|
|
The Plan,
through its Stable Value Fund (the Fund), holds investments in fixed income
securities, which consist of common collective trusts, short-term securities and
bonds. To reduce the risk of market losses on these investments, the Fund enters
into guaranteed investment contracts (GICs) or wrapper contracts with financial
institutions or insurance companies, which enable the participants to transact
at a specified contract value by protecting the principal amount invested over a
specified period of time. Since the assets underlying the GICs are owned by the
Plan, the contract is referred to as a synthetic GIC or wrapper.
Effective
December 31, 2006, the Plan adopted the provisions of FSP Nos. AAG INV-1 and SOP
94-4-1,
Reporting of Fully
Benefit-Responsive Investment Contracts Held by Certain Investment Companies
Subject to the AICPA Investment Company Guide and Defined-Contribution Health
and Welfare and Pension Plans
, which requires the Plan to record wrapper
contracts in investments at their fair value. However, since the contracts are
fully benefit-responsive, the difference between fair value and contract value
(the amount contract issuers would pay if the contracts were to liquidate under
the terms of the Plan) is reflected as an adjustment in the statements of net
assets available for benefits.
The fair
value of the wrapper contracts is determined by calculating the present value of
the difference between current wrap fees and future wrap fees. The
present value of this difference is calculated using a swap yield curve that is
based on the duration of the contract, and adjusted for the credit quality
rating of the contract issuer.
The
Plan’s investments that are covered by the synthetic GICs earn interest at
interest crediting rates that are typically reset on a monthly or quarterly
basis. These interest crediting rates use a formula that is based on
the characteristics of the underlying fixed income portfolio. The
minimum interest crediting rate for all investment contracts is zero
percent. Factors that can influence the future average crediting
rates are (i) the level of market interest rates; (ii) the amount and timing of
participant contributions, transfers and withdrawals into/out of the investment
contract; (iii) the investment returns generated by the fixed income investments
that underlie the investment contracts; or (iv) the duration of the investments
underlying the investment contracts. The crediting rate formula
amortizes the realized and unrealized market value gains and losses over the
duration of the underlying investments. The resulting gains and
losses in the fair value of the underlying investments relative to the contract
value are represented in the statements of net assets available for benefits as
the adjustment from fair value to contract value for fully benefit-responsive
investment contracts.
For the
Plan’s investments covered by synthetic GICs, the average yield earned by the
Plan and the average yield earned by the Plan adjusted for actual interest
credited to participants at December 31, 2007 and 2006 is as
follows:
|
|
2007
|
|
|
2006
|
|
|
|
(Percent)
|
|
Average
yield earned by the Plan
|
|
|
5.312
|
|
|
|
5.136
|
|
Average
yield earned by the Plan adjusted for actual interest credited to
participants
|
|
|
4.829
|
|
|
|
5.148
|
|
In
certain events, the amounts withdrawn from investment contracts may be payable
at fair value rather than contract value. These events include
termination of the Plan, a material adverse change to the provisions of the
Plan, the employer elects to withdraw from an investment contract or the terms
of a successor plan do not meet the contract issuer’s criteria for the issuance
of a similar contract. Based upon experience to date, the Company
does not believe the events described above are probable of
occurring.
In some
cases, an investment contract issuer may terminate a contract with the Plan and
settle at amounts different than the contract value. Examples of
these events include the Plan’s loss of its qualified status, material breaches
of responsibilities that are not cured or material and adverse changes to the
provisions of the Plan. The Company is not aware of any events that
would cause the Plan to terminate its investment contracts.
5.
|
Related Party Transactions
|
Certain
investments of the Plan are managed by JPMorgan. JPMorgan is the trustee of the
Plan and, therefore, these transactions qualify as party-in-interest
transactions. Additionally, a portion of the Plan’s assets are invested in the
Company’s stock. Because the Company is the plan sponsor, transactions involving
the Company’s stock qualify as party-in-interest transactions. All of these
transactions are exempt from the prohibited transactions rules.
The Plan
has received a determination letter from the IRS dated June 20, 2003, stating
that the Plan is qualified under Section 401(a) of the Code and therefore, the
related trust is exempt from taxation. Subsequent to this determination by the
IRS, the Plan was amended and restated. Once qualified, the Plan is required to
operate in conformity with the Code to maintain its qualification. The Plan
administrator believes the Plan is being operated in compliance with the
applicable requirements of the Code and, therefore, believes that the Plan, as
amended and restated, is qualified and the related trust is tax
exempt.
The
Company reserves the right under the Plan to discontinue contributions at any
time and to terminate the Plan subject to the provisions of ERISA and the Code.
Upon termination, the Plan’s assets would be distributed to the participants, as
directed by the Committee in accordance with the Plan’s provisions and
applicable law, on the basis of their account balances existing at the date of
termination, as adjusted for investment gains and losses.
8.
|
Reconciliation to the Form 5500
|
Participant
withdrawals that have been processed and approved but not paid by the Plan at
December 31, 2007 and 2006 are not considered Plan obligations until paid under
generally accepted accounting principles and, therefore, are not presented as
liabilities or benefits paid in the accompanying financial statements. They are,
however, recorded as benefits payable on the Form 5500.
The
accompanying financial statements present fully benefit-responsive contracts at
fair value with an adjustment to contract value. The Form 5500 requires these
contracts to be presented at fair value. Therefore, the adjustment from contract
value to fair value for fully benefit-responsive investment contracts represents
a reconciling item between the accompanying financial statements and the Form
5500.
The
following is a reconciliation of net assets available for benefits per the
financial statements to the Form 5500:
|
|
December
31,
|
|
|
|
2007
|
|
|
2006
|
|
|
|
(In
thousands)
|
|
Net
assets available for benefits per the financial statements
|
|
$
|
866,132
|
|
|
$
|
873,121
|
|
Less:
Participant withdrawals processed and approved but not paid by
the Plan
|
|
|
(1,088
|
)
|
|
|
(346
|
)
|
Less:
Adjustment from contract value to fair value for fully benefit-responsive
investment contracts
|
|
|
1,607
|
|
|
|
(2,278
|
)
|
Net
assets available for benefits per the Form 5500
|
|
$
|
866,651
|
|
|
$
|
870,497
|
|
The
following is a reconciliation of the change in net assets available for benefits
per the financial statements to the Form 5500 for the year ended December 31,
2007 (in thousands):
Net
decrease in net assets available for benefits per the financial
statements
|
|
$
|
(6,989
|
)
|
Add:
Participant withdrawals processed and approved but not paid by the Plan
at December 31, 2006
|
|
|
346
|
|
Less:
Participant withdrawals processed and approved but not paid by the Plan
at December 31, 2007
|
|
|
(1,088
|
)
|
Less:
Change in adjustment from contract value to fair value for fully
benefit-responsive investment contracts
|
|
|
3,885
|
|
Net
decrease in net assets available for benefits per the Form
5500
|
|
$
|
(3,846
|
)
|
El
Paso Corporation Retirement Savings Plan
Schedule H, Line 4(i) – Schedule of Assets (Held at End of
Year)
EIN:
76-0568816 PN: 002
December
31, 2007
(a)
|
|
(b)
|
|
(c)
|
|
(e)
|
|
|
|
Identity
of issue, borrower, lessor or similar party
|
|
Description of investment including maturity date, rate of interest,
collateral, par, or maturity value
|
|
Current
value
|
|
|
|
|
|
|
|
|
|
|
|
Stable
Value Fund
|
|
|
|
|
|
|
|
INVESCO
|
|
IGT
** INVESCO Multi-Manager A or Better Intermediate Government Credit
Fund
|
|
$
|
36,365,861
|
|
|
|
Bank
of America
|
|
Bank
of America Wrapper #99-056
|
|
|
–
|
|
|
|
INVESCO
|
|
IGT
** INVESCO Short-Term Bond Fund
|
|
|
23,331,346
|
|
|
|
ING
Life Insurance
|
|
ING
Wrapper #60111
|
|
|
–
|
|
|
|
INVESCO
|
|
IGT
** INVESCO Short-Term Bond Fund
|
|
|
23,564,945
|
|
|
|
IXIS
Financial
|
|
IXIS
Wrapper #1163-01
|
|
|
–
|
|
|
|
INVESCO
|
|
IGT
** INVESCO Multi-Manager A or Better Intermediate Government Credit
Fund
|
|
|
36,578,015
|
|
|
*
|
|
JPMorgan
Chase
|
|
JPMorgan
Wrapper #401728-MIA
|
|
|
–
|
|
|
|
|
INVESCO
|
|
IGT
** INVESCO Short-Term Bond Fund
|
|
|
28,862,068
|
|
|
|
|
Monumental
Life Insurance
|
|
Monumental
Life Insurance Wrapper MDA-00436TR
|
|
|
–
|
|
|
|
|
INVESCO
|
|
IGT
** INVESCO Short-Term Bond Fund
|
|
|
23,434,169
|
|
|
|
|
Rabobank
Nederland
|
|
Rabobank
Nederland Wrapper EPN100201
|
|
|
–
|
|
|
|
|
INVESCO
|
|
IGT
** INVESCO Multi-Manager A or Better Core Fund
|
|
|
30,620,320
|
|
|
|
|
State
Street Bank
|
|
State
Street Bank Wrapper #103105
|
|
|
–
|
|
|
*
|
|
JPMorgan
Chase
|
|
US
Govt Short Term Investment Fund
|
|
|
5,191,265
|
|
|
|
|
Fixed
Income Fund
|
|
|
|
|
|
|
|
|
|
Pimco
|
|
Pimco
Total Return Fund
|
|
|
20,524,481
|
|
|
|
|
Balanced
Fund
|
|
|
|
|
|
|
|
|
|
Dodge
& Cox
|
|
Dodge
& Cox Balanced Fund
|
|
|
57,707,291
|
|
|
|
|
Lifecycle
Funds
|
|
|
|
|
|
|
|
*
|
|
JPMorgan
Chase
|
|
JPMorgan
SmartRetirement 2010 Fund
|
|
|
2,827,624
|
|
|
*
|
|
JPMorgan
Chase
|
|
JPMorgan
SmartRetirement 2015 Fund
|
|
|
3,747,630
|
|
|
*
|
|
JPMorgan
Chase
|
|
JPMorgan
SmartRetirement 2020 Fund
|
|
|
7,441,239
|
|
|
*
|
|
JPMorgan
Chase
|
|
JPMorgan
SmartRetirement 2030 Fund
|
|
|
4,870,120
|
|
|
*
|
|
JPMorgan
Chase
|
|
JPMorgan
SmartRetirement 2040 Fund
|
|
|
4,284,803
|
|
|
|
|
Large
Capitalization Value Fund
|
|
|
|
|
|
|
|
|
|
Dodge
& Cox
|
|
Dodge
& Cox Stock Fund
|
|
|
66,462,975
|
|
|
|
|
Large
Capitalization Core Fund
|
|
|
|
|
|
|
|
|
|
Barclays
Global Investors
|
|
Barclays
Equity Index Fund T
|
|
|
77,263,569
|
|
|
|
|
Large
Capitalization Growth Fund
|
|
|
|
|
|
|
|
|
|
American
Funds
|
|
American
Funds Growth Fund of America – R5
|
|
|
109,298,617
|
|
|
|
|
Small
Capitalization Equity Fund
|
|
|
|
|
|
|
|
|
|
Harbor
|
|
Harbor
Small Cap Value Institutional Fund
|
|
|
5,315,779
|
|
|
|
|
Laudus
Rosenberg
|
|
Laudus
Rosenberg US Discovery – Institutional Fund
|
|
|
4,094,727
|
|
|
|
|
UBS
|
|
UBS
US Small Cap Growth Y Fund
|
|
|
19,434,438
|
|
|
|
|
International
Equity Fund
|
|
|
|
|
|
|
|
|
|
Lazard
|
|
Lazard
Emerging Markets – Inst
|
|
|
4,256,508
|
|
|
|
|
MFS
Investments
|
|
MFS
Institutional International Equity Fund
|
|
|
42,831,268
|
|
|
|
|
Company
Stock Fund
|
|
|
|
|
|
|
|
*
|
|
El
Paso Corporation
|
|
El
Paso Corporation Company Stock
|
|
|
213,075,092
|
|
|
*
|
|
JPMorgan
Chase
|
|
JPMorgan
Prime Money Market Fund
|
|
|
207,735
|
|
|
|
|
Participant
loans
|
|
|
|
|
|
|
|
*
|
|
Participant
loans
|
|
Loans
(Interest rates 5.00% – 11.84%)
|
|
|
15,295,457
|
|
|
|
|
|
|
|
|
$
|
866,887,342
|
|
|
|
|
|
|
|
|
|
|
|
*
Party-in-interest
**
INVESCO Group Trust
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.
|
EL PASO
CORPORATION
Retirement Savings Plan
|
|
|
|
|
|
|
|
|
|
|
By:
|
/s/
John J. Hopper
|
|
|
|
John
J. Hopper
|
|
|
|
Chairman of the El Paso
Corporation
|
|
|
|
Retirement Savings Plan
Committee
|
|
Date: June
19, 2008
Exhibit
Number
|
|
Description
|
23.1
|
|
Consent
of Independent Registered Public Accounting
Firm
|
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