Required Information
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Page
No.
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Report
of Independent Registered Public Accounting Firm
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1
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Statements
of Net Assets Available for Benefits - December 31, 2008 and
2007
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2
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Statement
of Changes in Net Assets Available for Benefits - Year Ended December 31,
2008
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3
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Notes
to Financial Statements
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4-10
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Schedule
required to be filed under ERISA
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a. Schedule
H, Line 4i, Schedule of Assets (Held at End of Year)
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11
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Signature
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12
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Exhibits
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23.1
Consent of Ernst & Young LLP,
Independent Registered
Public
Accounting Firm
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13
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December
31
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2008
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2007
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Assets
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||||||||
Investments
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$ | 126,749,639 | $ | 175,479,723 | ||||
Contribution
receivables:
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||||||||
Employer
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66,056 | 98,352 | ||||||
Participants
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410,413 | 317,546 | ||||||
Total
contribution receivables
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476,469 | 415,898 | ||||||
Receivable
from broker
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- | 7,004,537 | ||||||
Pending
sales
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219,711 | 1,802 | ||||||
Net
assets available for benefits
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$ | 127,445,819 | $ | 182,901,960 |
Additions
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||||
Net
investment income:
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Interest
and dividends
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$ | 4,889,265 | ||
Contributions:
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Participants
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8,889,390 | |||
Employer
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2,993,836 | |||
Catch-up
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416,989 | |||
Rollover
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1,462,928 | |||
13,763,143 | ||||
Total
additions
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18,652,408 | |||
Deductions
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Net
depreciation in fair value of investments
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63,971,407 | |||
Benefits
paid directly to participants
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10,083,271 | |||
Administration
fee
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23,038 | |||
Defaulted
loans
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30,833 | |||
Total
deductions
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74,108,549 | |||
Net
decrease
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(55,456,141 | ) | ||
Net
assets available for benefits:
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Beginning
of year
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182,901,960 | |||
End
of year
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$ | 127,445,819 |
(i)
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Lump
sum payment in cash;
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(ii)
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Lump
sum payment in cash, except that a participant’s interest in the Company
Stock Fund and the PAYSOP contributions account will be paid in full
shares of Common Stock of the Company, with any fractional shares being
paid in cash; and
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(iii)
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Periodic
distributions, not more frequently than monthly, of at least
$200.
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Net Realized
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and Unrealized
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Depreciation in
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||||
Fair Value of
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Investments
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||||
Brush
Engineered Materials Inc. Common Stock
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$ | (13,811,851 | ) | |
Shares
of registered investment companies
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(50,159,556 | ) | ||
$ | (63,971,407 | ) |
December
31
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2008
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2007
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Brush
Engineered Materials Inc. Common Stock
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$ | 10,234,268 | $ | 19,519,563 | ||||
Fidelity
Blue Chip Growth Fund
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13,817,810 | 22,633,518 | ||||||
Fidelity
Diversified International Fund
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12,753,013 | 25,472,623 | ||||||
Fidelity
Money Market Trust: Retirement Money Market Portfolio
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23,926,443 | 17,901,883 | ||||||
PIMCO
Total Return Fund
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15,512,139 | 12,855,553 | ||||||
Spartan
U.S. Equity Index Fund
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10,906,344 | 17,991,975 | ||||||
Vanguard
Asset Allocation Fund
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7,271,980 | 12,937,663 |
Purchases
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$ | 16,521,264 | ||
Sales
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12,922,979 |
Level
1
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Observable
inputs which reflect quoted prices for identical assets or liabilities in
active markets at the measurement date.
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Level
2
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Observable
inputs for assets or liabilities other than quoted prices included in
Level 1 and it includes valuation techniques which use prices for similar
assets and liabilities.
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Level
3
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Unobservable
inputs which reflect the reporting entity’s estimates of the assumptions
that market participants would use in pricing the asset or liability,
including assumptions about
risk.
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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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Brush
Engineered Materials Inc.
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Common
Stock
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$ | 10,234,268 | $ | - | $ | - | $ | 10,234,268 | ||||||||
Registered
invesment companies
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87,995,230 | - | - | 87,995,230 | ||||||||||||
Money
market funds
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24,596,781 | - | - | 24,596,781 | ||||||||||||
Participant
loans
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- | - | 3,923,360 | 3,923,360 | ||||||||||||
Total
investments
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$ | 122,826,279 | $ | - | $ | 3,923,360 | $ | 126,749,639 |
Participant
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Loans
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Beginning
balance, January 1, 2008
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$ | 4,113,055 | ||
Purchases,
sales, issuances and settlements (net)
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(189,695 | ) | ||
Ending
balance, December 31, 2008
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$ | 3,923,360 |
Description
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Current
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Identity of Issue
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of Investment
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Value
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Brush
Engineered Materials Inc. Common Stock *
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809,407.000
shares
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$ | 10,234,268 | |||
Shares
of registered investment companies:
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DFA
U.S. Large Cap Value Fund
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422,805.482
shares
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5,669,822 | ||||
Fidelity
Blue Chip Growth Fund*
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525,192.306
shares
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13,817,810 | ||||
Fidelity
Diversified International Fund*
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592,887.620
shares
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12,753,013 | ||||
Fidelity
Freedom 2000 Fund*
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42,344.321
shares
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425,560 | ||||
Fidelity
Freedom 2005 Fund*
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12,541.887
shares
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105,226 | ||||
Fidelity
Freedom 2010 Fund*
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290,603.187
shares
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3,010,649 | ||||
Fidelity
Freedom 2015 Fund*
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200,565.644
shares
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1,716,842 | ||||
Fidelity
Freedom 2020 Fund*
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377,871.911
shares
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3,797,613 | ||||
Fidelity
Freedom 2025 Fund*
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168,401.777
shares
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1,385,947 | ||||
Fidelity
Freedom 2030 Fund*
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169,152.916
shares
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1,650,932 | ||||
Fidelity
Freedom 2035 Fund*
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81,085.879
shares
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651,120 | ||||
Fidelity
Freedom 2040 Fund*
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210,340.501
shares
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1,175,803 | ||||
Fidelity
Freedom 2045 Fund*
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11,088.696
shares
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72,964 | ||||
Fidelity
Freedom 2050 Fund*
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26,176.838
shares
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169,102 | ||||
Fidelity
Freedom Income Fund*
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61,870.692
shares
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591,484 | ||||
Harbor
Small Cap Value Institutional Class
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108,783.466
shares
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1,442,469 | ||||
Morgan
Stanley Institutional Fund, Inc. Small Company Growth Portfolio Class
P
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162,174.310
shares
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1,166,033 | ||||
PIMCO
Total Return Fund Administrative Class
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1,529,796.741
shares
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15,512,139 | ||||
Spartan
U.S. Equity Index Fund
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341891.663
shares
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10,906,344 | ||||
Third
Avenue Real Estate Value Fund
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97,617.440
shares
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1,459,381 | ||||
Vanguard
Asset Allocation Fund
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390,966.689
shares
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7,271,980 | ||||
Vanguard
Mid Capitalization Index Signal Fund
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192,006.987
shares
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3,242,998 | ||||
98,229,498 | ||||||
Money
market funds:
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Fidelity
Employee Benefits Money Market Fund*
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411,987.660
shares
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411,988 | ||||
Fidelity
Money Market Trust: Retirement Money Market Portfolio*
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23,926,442.990
shares
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23,926,443 | ||||
Fidelity
U.S. Treasury Money Market Fund*
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258,350.210
shares
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258,350 | ||||
24,596,781 | ||||||
Participant
loans *
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Interest
rates ranging
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from
1.25% to 5.08%
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||||||
with
maturity dates
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||||||
through
2025
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3,923,360 | |||||
$ | 126,749,639 |
BRUSH
ENGINEERED MATERIALS INC.
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SAVINGS
AND INVESTMENT PLAN
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Date: June
18, 2009
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By:
/s/ Michael C. Hasychak
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Michael
C. Hasychak
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Vice
President, Treasurer and Secretary
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Brush
Engineered Materials
Inc.
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