frm11k.htm

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)
 
þ       Annual report pursuant to Section 15(d) of the Securities Exchange Act of 1934 (No Fee Required)
 
For the fiscal year ended December 31, 2007
 
OR
 
¨       Transition report pursuant to Section 15(d) of the Securities Exchange Act of 1934 (No Fee Required)
 
For the transition period from ___to ___
 
Commission file number 001-00035
 
A.       Full title of the plan and the address of the plan, if different from that of the issuer named below:
 
GE Savings and Security Program
 
B.       Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
 
General Electric Company
3135 Easton Turnpike
Fairfield, Connecticut 06828-0001



 
(1)
 

Required Information
 

   
Page
Number(s)
     
A.
Financial Statements and Schedule:
  
     
 
Report of Independent Registered Public Accounting Firm
3
     
 
Financial Statements:
  
     
 
Statements of Net Assets Available for Plan Benefits
as of December 31, 2007 and 2006
4
     
 
Statements of Changes in Net Assets Available for Plan Benefits
for the Years Ended December 31, 2007 and 2006
5
     
 
Notes to Financial Statements:
6-12
     
 
Supplemental Schedule:
  
 
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
as of December 31, 2007
13-20
     
B.
Exhibits
  
     
 
23
Consent of Independent Registered Public Accounting Firm
  
       
 
99(a)
GE S&S Program Mutual Funds 2007 Annual Report (incorporated by reference to the General Electric S&S Program Mutual Fund Form N-CSR for the year ended December 31, 2007, as filed with the Commission on March 7, 2008)
  
       
 
99(b)
GE Institutional International Equity Fund 2007 Annual Report (incorporated by reference to the GE Institutional Funds Form N-CSR for the year ended September 30, 2007, as filed with the Commission on December 6, 2007)
  
       
 
99(c)
GE Institutional Small-Cap Value Equity Fund 2007 Annual Report (incorporated by reference to the GE Institutional Funds Form N-CSR for the year ended September 30, 2007, as filed with the Commission on December 6, 2007)
  
       
 
99(d)
GE Institutional Strategic Investment Fund 2007 Annual Report (incorporated by reference to the GE Institutional Funds Form N-CSR for the year ended September 30, 2007, as filed with the Commission on December 6, 2007)
  


 
(2)
 

Signatures
 
The Plan. 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.
 
     
GE Savings and Security Program
     
(Name of Plan)
       
       
       
Date:
June 25, 2008
  
/s/ Jamie S. Miller
     
Jamie S. Miller
Vice President and Controller



 
(3)
 

 
GE SAVINGS AND SECURITY PROGRAM
 
Financial Statements and Supplemental Schedule
 
December 31, 2007 and 2006
 
(With Independent Registered Public Accounting Firm’s Report Thereon)
 

 
 

GE SAVINGS AND SECURITY PROGRAM
 
December 31, 2007 and 2006
 
Table of Contents
 



 
Page
Number(s)
   
Report of Independent Registered Public Accounting Firm
3
   
Financial Statements:
  
Statements of Net Assets Available for Plan Benefits
as of December 31, 2007 and 2006
4
   
Statements of Changes in Net Assets Available for Plan Benefits
for the Years Ended December 31, 2007 and 2006
5
   
Notes to Financial Statements
6-12
   
Supplemental Schedule: (i)
  
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
as of December 31, 2007
13-20



 

(i) Schedules required by Form 5500 that are not applicable have not been included.

 
 
- 2 -
 

 

 
Report of Independent Registered Public Accounting Firm
 
General Electric Company, as Administrator
 
GE Savings and Security Program:
 
We have audited the accompanying statements of net assets available for plan benefits of GE Savings and Security Program (the Plan) as of December 31, 2007 and 2006, and the related statements of changes in net assets available for plan benefits for the years then ended. 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. 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 plan benefits of the Plan as of December 31, 2007 and 2006, and the changes in net assets available for plan benefits for the years then ended in conformity with U.S. 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 schedule H, line 4i - schedule of assets (held at end of year) as of December 31, 2007 is presented for the purpose of additional analysis and is not a required part of the basic financial statements but is supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. This supplemental schedule is the responsibility of the Plan’s management. The supplemental schedule has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole.
 
/s/ KPMG LLP
June 23, 2008
 

 
 
- 3 -
 

GE SAVINGS AND SECURITY PROGRAM
 
Statements of Net Assets Available for Plan Benefits
 
December 31, 2007 and 2006
 
(in thousands)
 



Assets
  
2007
    
2006
  
             
Investments at fair value (note 3)
   $ 26,796,692     $ 26,340,577  
Accrued dividends and interest
     124,088       113,883  
Other assets
     –       400  
Total assets
     26,920,780       26,454,860  
                 
Liabilities
                
                 
Liability for collateral deposits (note 3)
     273,086       246,932  
Other liabilities
     2,419       14,938  
Total liabilities
     275,505       261,870  
                 
Net assets available for plan benefits
   $ 26,645,275     $ 26,192,990  



 


See accompanying notes to financial statements.
 

 
 
- 4 -
 

GE SAVINGS AND SECURITY PROGRAM
 
Statements of Changes in Net Assets Available for Plan Benefits
 
Years Ended December 31, 2007 and 2006
 
(in thousands)
 



   
2007
    
2006
  
             
Additions to net assets attributed to:
            
Investment income:
            
Net appreciation in fair value of
investments (note 3)
   $ 36,710     $ 1,379,484  
                 
 Interest and dividend income:
                
General Electric Company Common Stock
     478,841       458,716  
Registered investment companies
     678,939       400,451  
Other investments
     143,082       119,374  
      1,337,572       2,358,025  
Contributions:
                
Employee
     1,014,699       966,731  
Employer
     341,869       327,825  
      1,356,568       1,294,556  
                 
Total additions
     2,694,140       3,652,581  
                 
Deductions from net assets attributed to:
                
Participant withdrawals
     2,241,855       2,009,627  
                 
Net increase
     452,285       1,642,954  
                 
Net assets available for plan benefits:
                
Beginning of year
     26,192,990       24,550,036  
                 
End of year
   $ 26,645,275     $ 26,192,990  


 
See accompanying notes to financial statements.
 

 
 
- 5 -
 

GE SAVINGS AND SECURITY PROGRAM
 
Notes to Financial Statements
 
December 31, 2007 and 2006
 
 
 
(1)
Description of the Plan
 
The GE Savings and Security Program (the “Plan”) is a defined contribution plan sponsored by General Electric Company. The Plan is subject to applicable provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). The Trustees of the GE Savings and Security Trust are officers of GE Asset Management Incorporated (“GEAM”), a wholly owned subsidiary of General Electric Company. GEAM is the investment adviser to each of the Plan’s investment options, except General Electric Company Common Stock, Vanguardâ Institutional Index Fund and the United States Savings Bonds. State Street Corporation, Vanguardâ, and The Bank of New York are the custodians for Plan assets.
 
The following description of the Plan is provided for general information purposes only. The complete terms of the Plan are provided in the GE Savings and Security Program document (the “Plan Document”). Additional Plan information including benefits, investment options, vesting provisions and effects of plan termination is included in Plan handbooks and other material distributed to participants.
 
Employee Contributions and Investment Options
 
Eligible employees of General Electric Company and participating affiliates may participate in the Plan by investing up to 30% of their earnings in one or more of the following investment options:
 
 
(a)
General Electric Company Common Stock (“GE Common Stock”).
 
 
(b)
GE S&S Income Fund (the “Income Fund”) - a registered investment company that invests primarily in a variety of investment grade debt securities with a weighted average maturity that is normally about five to ten years.
 
 
(c)
GE S&S Program Mutual Fund (the “Mutual Fund”) - a registered investment company that invests primarily in equity securities of U.S. companies.
 
 
(d)
GE Institutional International Equity Fund (the “International Fund”) - a registered investment company that invests primarily in equity securities of companies in countries other than the U.S.
 
 
(e)
GE Institutional Small-Cap Equity Fund (the “Small Cap Fund”) - a registered investment company that invests primarily in equity securities of small-cap U.S. companies (those with market capitalizations in the same range as the companies in the Russell 2000 Index).
 
 
(f)
GE Institutional Strategic Investment Fund (the “Strategic Investment Fund”) - a registered investment company that invests primarily in a combination of equity securities (U.S. and Non-U.S.) and investment grade debt securities.
 
 
(g)
Vanguardâ Institutional Index Fund (the “Index Fund”) - a registered investment company that employs a passive management strategy designed to track the performance of the Standard and Poor’s 500 Index, which is composed primarily of equity securities of large U.S. companies.
 

 
 
- 6 -
 

GE SAVINGS AND SECURITY PROGRAM
 
Notes to Financial Statements
 
December 31, 2007 and 2006
 
 
(h)
GE S&S Short-Term Interest Fund (the “Short Term Fund”) - invests primarily in a variety of investment grade debt securities with a weighted average maturity that is normally not more than three years.
 
 
(i)
GE S&S Money Market Fund (the “Money Market Fund”) - invests primarily in short-term, U.S. dollar denominated money market instruments and other debt instruments that mature in one year or less.
 
 
(j)
United States Savings Bonds (the “U.S. Bond Fund”) - comprises individual participants’ contributions that are directed to U.S. Treasury Series EE Savings Bonds (Series E before 1980), bonds that mature in 30 years. Individual funds being accumulated for bond purchase are invested in short-term instruments. Effective July 1, 1995, only after-tax contributions are permitted to be invested in the U.S. Bond Fund. Bonds acquired with after-tax contributions held by the Trustees shall be distributed to participants as soon as practicable after the end of the second calendar year following the year in which the bonds were acquired.  Proceeds from bonds acquired before July 1, 1995 that have matured but not yet distributed are reinvested in bonds.
 
The Income Fund, Mutual Fund, International Fund, Small Cap Fund, Strategic Investment Fund, Index Fund, Short Term Fund and Money Market Fund are collectively referred to herein as the “Funds”.
 
Audited financial statements and prospectuses or other disclosure documents of the registered investment companies are distributed annually to participants.
 
The Plan permits participants to invest compensation on which income taxes have and have not been paid  (“after-tax” and “pre-tax”, respectively). The United States Internal Revenue Code limits pre-tax contributions. The limits for participants under age 50 were generally $15,500 and $15,000 in 2007 and 2006, respectively. For participants who were at least age 50 during the year, the 2007 and 2006 limits were generally $20,500 and $20,000, respectively.
 
The Plan generally permits participants to switch their investment balances up to 24 times each year. Restrictions on such switches include a prohibition against switching balances into the U.S. Bond Fund, a prohibition against switching balances out of U.S Savings Bonds that were purchased after 1988 with after-tax contributions and certain restrictions on a participant’s ability to engage in frequent trading in response to Securities and Exchange Commission requirements governing mutual funds.
 
Employer Contributions
 
The Plan generally provides for employer matching contributions of 50% of employees’ contributions of up to 7% of their earnings, that is, a 3.5% maximum matching contribution. For certain eligible employees whose first day of work was on or after January 1, 2005, such matching contributions are generally 50% of employees’ contributions of up to 8% of earnings (4% maximum). Employer contributions are invested at the election of the participant in any one of the investment options except for the U.S. Bond Fund.
 
Rollovers and Transfers from Other Qualifying Plans
 
Subject to General Electric Company approval, participants may elect to roll over amounts from other qualifying plans or arrangements in accordance with the Internal Revenue Code. For the years ended December 31, 2007 and 2006, transfers from other qualifying plans or arrangements accounted for $49.6 million and $38.0 million, respectively, and are included in employee contributions in the Statements of Changes in Net Assets Available for Plan Benefits.
 

 
 
- 7 -
 

GE SAVINGS AND SECURITY PROGRAM
 
Notes to Financial Statements
 
December 31, 2007 and 2006
 
Withdrawals
 
Subject to certain limitations prescribed by the Plan and the Internal Revenue Code, terminated participants may elect retirement or other termination withdrawals in either lump sum or partial payments. Currently, employed participants may make up to seven withdrawals per year and certain hardship withdrawals from their participant accounts. Partial payments on termination are generally limited to four per year and a minimum of $500.
 
Loans to Participants
 
The Plan permits participants, under certain circumstances, to borrow a minimum of $500 from their participant accounts. Subject to certain Internal Revenue Code and Plan limits, a participant may not borrow more than the lesser of 50% of that participant’s available account value, as defined in the Plan Document, or $50,000, adjusted for prior loans. The interest rate applicable to participant loans is based on the monthly average of the composite yield on corporate bonds, published by Moody’s Investors Service. The interest rates of individual loans are fixed for the shorter of the term of the loan or five years.
 
A participant may have no more than two outstanding loans from the Plan at any time and may not obtain more than one such loan during any calendar year.
 
Loans are repaid with interest in equal payments over the term of the loan by payroll deductions, personal check or other such methods as may be required. Participants may repay the entire principal amount by check with written notice and without penalty beginning three months after the date of the loan.
 
In the event of a loan default, the Plan will report the outstanding loan balance as a withdrawal.
 
Participant Accounts
 
Each participant’s account is credited with the participant’s contributions and allocation of (a) employer matching contributions and (b) earnings. The benefit to which a participant is entitled is the value of the participant’s vested account.
 
Vesting
 
Participants are fully vested in their accounts, including employee and employer contributions plus earnings.
 
Plan Termination and Amendment
 
Although General Electric Company has not expressed any intent to do so, it has the right under the Plan, to the extent permitted by law, to discontinue its contributions and to terminate the Plan in accordance with the provisions of ERISA. If the Plan is terminated, each participant’s interest will be payable in full according to the Plan provisions. General Electric Company also has the right under the Plan to the extent permitted by law to amend or replace the Plan for any reason.
 

 
 
- 8 -
 

GE SAVINGS AND SECURITY PROGRAM
 
Notes to Financial Statements
 
December 31, 2007 and 2006
 
Administrative and Investment Advisory Costs
 
Administrative costs of the Plan and investment advisory costs for the Short Term Fund and the Money Market Fund are generally borne by General Electric Company. For the registered investment companies, investment advisers are reimbursed for costs incurred or receive a management fee for providing investment advisory services. These reimbursed costs and management fees are reflected in the interest and dividend income on the Statements of Changes in Net Assets Available for Plan Benefits.
 
(2)
Summary of Significant Accounting Policies
 
 
(a)
Basis of Accounting
 
The accompanying financial statements have been prepared on the accrual basis of accounting.
 
 
(b)
Investments
 
Plan investments are stated at fair value. GE Common Stock is valued at the New York Stock Exchange (“NYSE”) closing price. Investments in registered investment companies are valued at the closing net asset value per share as reported on each business day.  Long-term U.S. government, agency and corporate debt, notes, bonds, and loans secured by mortgages are generally valued at an evaluated bid price as reported by an independent pricing service.  Values obtained from pricing services are based on various factors such as market transactions, dealer-supplied valuations, security characteristics and other market data.  In the absence of a reliable price from such a pricing service, debt securities may be valued based on dealer-supplied valuations or quotations. Short-term money market instruments, including U.S. government, agency and corporate notes are valued at amortized cost, which approximates fair value. Loans to participants bear interest at market rates and outstanding principal balance plus accrued interest represents fair value. U.S. Savings Bonds are valued at the respective current cash redemption value published by the U.S. Treasury Department.
 
The Plan also invests in collective funds. A collective fund is a pool of investments from various investors to create a diversified fund.  Generally, a collective fund other than a bank common fund or a master trust that includes assets contributed from employee benefit plans is referred to as a 103-12 entity under ERISA.  The Plan’s ownership in the collective fund is carried at fair value based on the investment’s net asset value per unit.  The investments in the collective fund are carried at amortized cost, which approximates fair value.
 
Investment transactions are recorded on a trade date basis. Dividends on GE Common Stock are recorded as of the record date. Dividends on the registered investment companies are recorded on the payment date. Interest income is earned from settlement date and recognized on the accrual basis. The net appreciation (depreciation) in the fair value of investments consists of the realized gains or losses on the sales of investments and the unrealized appreciation (depreciation) of investments.
 
Investments other than GE Common Stock, the Mutual Fund, the Money Market Fund and the U.S. Bond Fund may use various financial instruments such as options and futures, commonly referred to as derivatives, to manage their risk. No investments are engaged in market-making or other speculative activities. Established practices require that derivative financial instruments relate to specific asset, liability or equity transactions. More detailed information regarding these financial instruments, as well as the strategies and policies for their use, is contained in the audited financial statements of the eligible investment options, which are distributed annually to participants, except
 

 
 
- 9 -
 
GE SAVINGS AND SECURITY PROGRAM
 
Notes to Financial Statements
 
December 31, 2007 and 2006
 

the Short Term Fund whose detailed information is contained in the S&S Program Supplemental Information document and distributed annually.
 
In September 2006, the Financial Accounting Standards Board (“FASB”) issued Statement of Financial Accounting Standards SFAS 157, Fair Value Measurements (“SFAS 157”), which defines fair value, establishes a new framework for measuring fair value and expands disclosures about fair value measurements.  The change to current generally accepted accounting principles from the application of SFAS 157 relates to the definition of fair value, the methods used to measure fair value and the expanded disclosure about fair value measurements. Broadly, SFAS 157 defines fair value as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. SFAS 157 establishes market or observable inputs as the preferred source of values.  Management does not believe the adoption of SFAS 157 will materially impact the net assets available for plan benefits, however, additional disclosures will be required about the inputs used to develop measurements and the effect of certain measurements on changes in net assets of the period.  SFAS 157 is effective for financial statements issued for fiscal years beginning after November 15, 2007.
 
(c)  
Participant Withdrawals
 
Participant withdrawals are recorded when paid.
 
(d)  
Management Estimates and Assumptions
 
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.
 
(e)  
Reclassifications
 
Certain prior year amounts have been reclassified to conform to current year presentation.
 
 
 
- 10 -
 
GE SAVINGS AND SECURITY PROGRAM
 
Notes to Financial Statements
 
December 31, 2007 and 2006
 
(3)
Investments
 
The following is a summary of the fair value of the Plan’s investments at December 31, 2007 and 2006:
 

   
2007
    
2006
  
   
(in thousands)
  
             
GE Common Stock
   $ 15,255,430 *   $ 16,045,887 *
Registered Investment Companies:
                
GE S&S Income Fund
     1,772,997 *     1,750,704 *
GE S&S Program Mutual Fund
     3,078,545 *     2,946,946 *
    GE Institutional International Equity Fund
     1,828,429 *     1,114,653  
    GE Institutional Small-Cap Equity Fund
     659,434       625,226  
    GE Institutional Strategic Investment Fund
     376,095       225,016  
    Vanguardâ Institutional Index Fund
     807,271       629,145  
   Total Registered Investment Companies
     8,522,771       7,291,690  
Other Investments:
                
Short-Term Money Market Instruments
     1,054,829 *     939,219  
U.S. Government and Agency Debt Obligations
     872,516       794,572  
Loans to Participants
     467,591       455,632  
    Collective Funds**
     336,918       344,210  
Other
     286,637       469,367  
Total Investments at fair value
   $ 26,796,692     $ 26,340,577  
                 

*Investment representing more than 5% of the Plan’s net assets.
**Qualifying 103-12 investments.
 

 
The Plan’s investments appreciated (depreciated) as follows:
 
   
2007
    
2006
  
   
(in thousands)
  
             
GE Common Stock
   $ (24,179 )   $ 940,201  
Registered Investment Companies
     54,312       435,944  
Other Investments
     6,577       3,339  
    $ 36,710     $ 1,379,484  

 
The Funds may, from time to time, lend securities to certain unrelated brokers. In the event the counterparty does not meet its contracted obligation to return securities used, a Fund may be exposed to the risk of reacquiring the securities at prevailing market prices in order to satisfy its obligations.
 

 
 
- 11 -

 
GE SAVINGS AND SECURITY PROGRAM
 
Notes to Financial Statements
 
 December 31, 2007 and 2006
 
In a securities loan arrangement, a Fund receives collateral in the form of cash or securities, which may be supplemented by letters of credit, in an amount generally in excess of the market value of securities loaned. The Funds monitor the market value of the securities loaned on a daily basis with additional collateral obtained or refunded as necessary. For the Short Term Fund, the value of loaned securities, primarily U.S. Treasury obligations, amounted to $267.5 million and $242.0 million at December 31, 2007 and 2006, respectively. The value of cash collateral obtained and reinvested in short-term investments is reflected as a liability in the Plan’s financial statements.  As of December 31, 2007, the Income Fund and the Index Fund also participated in securities lending programs.  For more information, refer to the audited financial statements of the Income Fund and the Index Fund, respectively.
 
The Plan’s investment funds include investments in U.S. equities, international equities and fixed income securities. Investment securities, in general, are exposed to various risks, such as interest rate, credit and overall market volatility. Due to the level of risk associated with certain investment securities, it is reasonable to expect that changes in the values of investment securities will occur (including in the near term) and that such changes could materially affect participant account balances and the Statements of Net Assets Available for Plan Benefits. The Plan offers alternatives that mitigate participant risks, including the opportunity to diversify investments across ten participant-directed fund elections. Additionally, the investments within each participant-directed fund election are further diversified into various financial instruments, with the exception of GE Common Stock and the U.S. Bond Fund, which invest in securities of a single issuer.
 
(4)
Tax Status
 
The Internal Revenue Service has notified General Electric Company by a letter dated June 27, 2006, that the Plan is qualified under the appropriate sections of the Internal Revenue Code. The Plan has been amended since that letter was issued.  However, counsel for the Plan has no reason to believe that those amendments have adversely affected the validity of the determination letter. A request for a new determination letter for the Plan has been submitted to the Internal Revenue Service.
 
The portion of a participant’s compensation contributed to the Plan as a pre-tax contribution and General Electric Company’s matching contribution are not subject to Federal income tax when such contributions are credited to participant accounts, subject to certain limitations. These amounts and any investment earnings may be included in the participant’s gross taxable income for the year in which such amounts are withdrawn from the Plan.
 
(5)
Plan Amendments
 
In 2007, the Plan was amended to comply with the new Internal Revenue Code section 415 regulations and to add a small sum cash out provision.
 
In 2006, the Plan was amended to restrict a participant’s ability to engage in frequent trading in response to Securities and Exchange Commission  requirements governing mutual funds.
 

 
 
- 12 -
 

GE SAVINGS AND SECURITY PROGRAM

Schedule H, Line 4i - Schedule of Assets (Held at End of Year)

As of December 31, 2007

Description
  
Shares
    
* Cost
    
Fair Value
  
Corporate Stocks - Common
                  
**   General Electric Company
     411,530,118     $ 10,343,335,681     $ 15,255,429,560  
                         
Registered Investment Companies
                        
*** GE S&S Income Fund
     158,586,519       1,797,908,155       1,772,997,284  
*** GE S&S Program Mutual Fund
     68,825,053       3,166,958,335       3,078,544,610  
*** GE Institutional International Equity Fund
     97,881,656       1,508,553,586       1,828,429,327  
*** GE Institutional Small-Cap Equity Fund
     46,603,106       691,911,961       659,433,950  
*** GE Institutional Strategic Investment Fund
     29,777,897       354,226,001       376,094,844  
       Vanguard® Institutional Index Fund
     6,018,123       709,063,928       807,270,955  
             Total Registered Investment Companies
           $ 8,228,621,966     $ 8,522,770,970  

 

See accompanying notes to schedule of assets on page 20.
(continued)
 
 
- 13 -
 
GE SAVINGS AND SECURITY PROGRAM

Schedule H, Line 4i - Schedule of Assets (Held at End of Year)

As of December 31, 2007

Description
  
Rate of Interest
  
Maturity
  
* Cost
    
Fair Value
  
Short-Term Money Market Instruments
                    
Interest Bearing Cash and Cash Equivalents
                    
     Bank of America Corporation
     4.865 %
04/15/2008
   $ 23,728,457     $ 23,728,457  
     Bank of Montreal
     5.203  
06/06/2008
     65,000,000       65,000,000  
     Barclays Bank PLC
     5.250  
03/03/2008
     56,220,000       56,220,000  
     BNP Paribas
     4.680  
04/28/2008
     40,660,000       40,660,000  
     Calyon
     5.330  
01/15/2008
     70,000,000       70,000,000  
     Canadian Imperial Bank
     4.896  
10/22/2008
     42,770,000       42,770,000  
     Citibank
     4.680  
04/24/2008
     33,600,000       33,600,000  
     Citibank
     4.900  
01/24/2008
     33,600,000       33,600,000  
     Credit Suisse
     5.202  
04/14/2008
     43,840,000       43,840,000  
     Deutsche Bank
     4.700  
02/04/2008
     54,000,000       54,000,000  
     Dexia Credit
     4.830  
02/08/2008
     60,000,000       60,000,000  
     Dresdner Bank AG
     5.300  
01/10/2008
     21,260,000       21,260,000  
     Fortis Bank
     4.770  
01/31/2008
     64,470,000       64,470,000  
     ING Group
     5.450  
01/07/2008
     42,311,532       42,311,532  
     JP Morgan
     4.950  
04/01/2008
     67,623,144       67,623,144  
     Rabobank Nederland
     4.500  
05/09/2008
     27,110,000       27,110,000  
     Rabobank Nederland
     4.590  
04/09/2008
     27,110,000       27,110,000  
     Royal Bank of Canada
     4.250  
01/02/2008
     15,900,000       15,900,000  
     Societe Generale
     5.200  
02/04/2008
     44,575,000       44,575,000  
     Societe Generale
     5.380  
03/27/2008
     44,000,000       44,000,000  
     State Street Corporation
     3.750  
01/02/2008
     39,250,553       39,250,553  
     Toronto-Dominion
     4.700  
05/13/2008
     26,000,000       26,000,000  
     Toronto-Dominion
     4.800  
03/13/2008
     26,000,000       26,000,000  
Total Interest Bearing Cash and Cash Equivalents
         969,028,686       969,028,686  
                           
                           
Other
                          
     Barclays Bank
     4.750  
01/02/2008
     28,600,000       28,600,000  
     Deutsche Bank
     4.750  
01/02/2008
     57,200,000       57,200,000  
      Total Other
               85,800,000       85,800,000  
      Total Short-Term Money Market Instruments
               1,054,828,686       1,054,828,686  
                           
Collective Funds****
                          
***GE Cash Plus Fund
  
Variable
  
N/A
     336,918,530       336,918,530  


 

See accompanying notes to schedule of assets on page 20.
(continued)

 
- 14 -
 
 
 
GE SAVINGS AND SECURITY PROGRAM
 
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
 
As of December 31, 2007


Description
  
Rate of Interest
  
 Maturity
  
* Cost
    
Fair Value
        
U.S. Government and Agency Debt Obligations
                          
     Federal Home Loan Bank Discount Notes
     4.390 %
02/15/2008
   $ 22,896,111     $ 22,896,111    
(a)
  
     Federal Home Loan Mortgage Corporation
     3.250  
07/15/2023
     2,697,375       2,706,558        
     Federal Home Loan Mortgage Corporation
     5.000  
11/15/2012
     –       2,118     (a,b)  
     Federal Home Loan Mortgage Corporation
     5.000  
12/15/2020
     2,015,190       1,972,762          
     Federal Home Loan Mortgage Corporation
     5.000  
11/15/2022
     8,807,134       8,871,587          
     Federal Home Loan Mortgage Corporation
     5.500  
04/15/2026
     12,948,929       13,140,598          
     Federal Home Loan Mortgage Corporation
     5.500  
02/15/2027
     34,462,224       34,724,963          
     Federal Home Loan Mortgage Corporation
     5.500  
10/15/2028
     36,558,127       36,819,519          
     Federal Home Loan Mortgage Corporation
     5.500  
10/15/2029
     37,038,338       37,418,869          
     Federal Home Loan Mortgage Corporation
     5.500  
12/25/2029
     12,565,427       12,687,544          
     Federal Home Loan Mortgage Corporation
     6.000  
12/01/2008
     394       405          
     Federal Home Loan Mortgage Corporation
     6.000  
10/15/2013
     49,271       53,604    
(b)
  
     Federal Home Loan Mortgage Corporation
     6.000  
10/15/2013
     49,686       53,195    
(b)
  
     Federal Home Loan Mortgage Corporation
     6.000  
10/01/2017
     283,641       276,859          
     Federal Home Loan Mortgage Corporation
     6.000  
12/01/2018
     139,823       137,562          
     Federal Home Loan Mortgage Corporation
     6.000  
09/01/2019
     424,316       417,762          
     Federal Home Loan Mortgage Corporation
     6.000  
10/01/2021
     1,644,482       1,656,356          
     Federal Home Loan Mortgage Corporation
     6.000  
10/01/2021
     910,330       916,903          
     Federal Home Loan Mortgage Corporation
     6.000  
11/01/2021
     890,786       897,218          
     Federal Home Loan Mortgage Corporation
     6.000  
11/01/2021
     1,247,786       1,256,409          
     Federal Home Loan Mortgage Corporation
     6.000  
02/15/2027
     25,596,507       25,729,580          
     Federal Home Loan Mortgage Corporation
     6.500  
05/01/2013
     527,178       510,692          
     Federal Home Loan Mortgage Corporation
     7.000  
10/01/2023
     18,341       18,203          
     Federal Home Loan Mortgage Corporation
     7.000  
11/01/2031
     123,820       122,416          
     Federal Home Loan Mortgage Corporation
     7.000  
04/01/2032
     558,904       548,688          
     Federal Home Loan Mortgage Corporation
     7.000  
04/01/2032
     489,895       481,011          
     Federal Home Loan Mortgage Corporation
     7.000  
06/01/2032
     236,892       233,041          
     Federal Home Loan Mortgage Corporation
     7.000  
04/01/2036
     1,161,108       1,169,211          
     Federal Home Loan Mortgage Corporation
     7.500  
01/01/2016
     551,601       554,131          
     Federal Home Loan Mortgage Corporation
     7.500  
01/01/2027
     500,228       505,525          
     Federal Home Loan Mortgage Corporation
     7.500  
01/01/2027
     97,524       98,285          
     Federal Home Loan Mortgage Corporation
     8.000  
05/01/2031
     32,809       33,106          
     Federal Home Loan Mortgage Corporation
     8.500  
03/01/2027
     118,756       116,065          
     Federal Home Loan Mortgage Corporation
     9.250  
12/01/2016
     104,372       95,224          
     Federal Home Loan Mortgage Corporation Discount Notes
     4.300  
01/08/2008
     60,709,316       60,709,316    
(a)
  
     Federal National Mortgage Assoc. Discount Notes
     4.240  
03/31/2008
     69,268,500       69,268,500    
(a)
  
     Federal National Mortgage Association
     3.839  
07/01/2033
     6,132,702       5,987,323          
     Federal National Mortgage Association
     4.009  
06/01/2033
     3,171,950       3,067,087          
     Federal National Mortgage Association
     4.024  
06/01/2033
     2,640,037       2,588,159          
     Federal National Mortgage Association
     4.121  
07/01/2033
     4,098,240       3,984,519          
     Federal National Mortgage Association
     4.382  
05/01/2033
     3,646,056       3,546,739          
     Federal National Mortgage Association
     4.411  
06/01/2033
     1,669,929       1,632,582          
     Federal National Mortgage Association
     4.500  
06/25/2043
     468,767       458,666          
     Federal National Mortgage Association
     5.000  
08/25/2029
     1,542,094       1,546,749          
 

See accompanying notes to schedule of assets on page 20.
(continued)

 
 
 
- 15 -
 

 
 
GE SAVINGS AND SECURITY PROGRAM
 
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
 
As of December 31, 2007

 
Description
  
Rate of Interest
  
 Maturity
  
* Cost
    
Fair Value
  
U.S. Government and Agency Debt Obligations, continued
                    
     Federal National Mortgage Association
     5.128 %
06/01/2033
   $ 654,887     $ 642,926  
     Federal National Mortgage Association
     5.500  
06/25/2025
     2,737,842       2,764,649  
     Federal National Mortgage Association
     5.500  
05/25/2028
     25,931,132       26,033,260  
     Federal National Mortgage Association
     5.500  
12/25/2028
     34,106,025       34,286,285  
     Federal National Mortgage Association
     5.662  
05/01/2037
     17,699,670       17,836,559  
     Federal National Mortgage Association
     6.000  
03/01/2012
     1,788,727       1,780,421  
     Federal National Mortgage Association
     6.000  
03/01/2012
     393,959       392,993  
     Federal National Mortgage Association
     6.000  
02/01/2018
     632,890       614,948  
     Federal National Mortgage Association
     6.000  
11/01/2018
     521,054       506,057  
     Federal National Mortgage Association
     6.000  
12/01/2019
     1,013,883       989,956  
     Federal National Mortgage Association
     6.000  
04/01/2033
     174,511       170,446  
     Federal National Mortgage Association
     6.250  
04/25/2033
     12,874,305       13,052,781  
     Federal National Mortgage Association
     6.500  
05/01/2017
     388,694       377,793  
     Federal National Mortgage Association
     6.500  
10/01/2017
     133,069       130,174  
     Federal National Mortgage Association
     6.500  
12/01/2019
     1,021,280       994,879  
     Federal National Mortgage Association
     6.500  
08/01/2022
     535,738       525,507  
     Federal National Mortgage Association
     6.500  
11/01/2023
     751,046       741,594  
     Federal National Mortgage Association
     6.500  
04/01/2033
     413,572       406,163  
     Federal National Mortgage Association
     6.500  
05/01/2033
     648,596       634,629  
     Federal National Mortgage Association
     6.650  
12/01/2032
     789,881       780,159  
     Federal National Mortgage Association
     6.879  
05/01/2033
     607,343       603,313  
     Federal National Mortgage Association
     6.911  
06/01/2033
     660,499       649,298  
     Federal National Mortgage Association
     6.977  
06/01/2033
     594,017       586,220  
     Federal National Mortgage Association
     7.000  
04/01/2011
     61,122       57,450  
     Federal National Mortgage Association
     7.000  
02/01/2017
     135,425       134,184  
     Federal National Mortgage Association
     7.000  
03/01/2017
     200,058       196,270  
     Federal National Mortgage Association
     7.000  
03/01/2017
     83,491       81,910  
     Federal National Mortgage Association
     7.000  
03/01/2017
     115,726       113,669  
     Federal National Mortgage Association
     7.000  
03/01/2017
     491,485       487,126  
     Federal National Mortgage Association
     7.000  
04/01/2017
     323,136       317,391  
     Federal National Mortgage Association
     7.000  
04/01/2017
     97,322       95,592  
     Federal National Mortgage Association
     7.000  
04/01/2017
     394,153       390,657  
     Federal National Mortgage Association
     7.000  
05/01/2017
     201,883       198,109  
     Federal National Mortgage Association
     7.000  
05/01/2017
     221,655       216,427  
     Federal National Mortgage Association
     7.000  
07/01/2017
     297,544       291,910  
     Federal National Mortgage Association
     7.000  
07/01/2017
     793,140       779,614  
     Federal National Mortgage Association
     7.000  
02/01/2019
     20,973       20,562  
     Federal National Mortgage Association
     7.000  
03/01/2029
     136,157       137,940  
     Federal National Mortgage Association
     7.000  
06/01/2031
     132,963       131,339  
     Federal National Mortgage Association
     7.000  
10/01/2031
     312,201       316,713  
     Federal National Mortgage Association
     7.000  
01/01/2032
     85,980       84,855  
     Federal National Mortgage Association
     7.000  
10/01/2032
     121,082       118,798  
     Federal National Mortgage Association
     7.000  
04/01/2033
     375,690       369,380  
     Federal National Mortgage Association
     7.000  
11/01/2033
     685,618       672,324  
 
 

See accompanying notes to schedule of assets on page 20.
(continued)


 
 
 
- 16 -
 
 
 
GE SAVINGS AND SECURITY PROGRAM
 
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
 
As of December 31, 2007


Description
  
Rate of Interest
  
 Maturity
  
* Cost
    
Fair Value
        
U.S. Government and Agency Debt Obligations, continued
                          
     Federal National Mortgage Association
     7.000 %
03/01/2034
   $ 213,227     $ 208,137        
     Federal National Mortgage Association
     7.000  
06/01/2034
     347,374       343,503        
     Federal National Mortgage Association
     7.000  
01/01/2035
     297,365       294,662        
     Federal National Mortgage Association
     7.000  
05/01/2035
     697,329       691,690        
     Federal National Mortgage Association
     7.000  
05/01/2035
     828,857       823,377        
     Federal National Mortgage Association
     7.000  
01/01/2036
     1,051,152       1,057,299        
     Federal National Mortgage Association
     7.000  
04/01/2036
     1,722,721       1,741,443        
     Federal National Mortgage Association
     7.020  
07/01/2033
     210,862       211,958        
     Federal National Mortgage Association
     7.500  
04/01/2016
     65,653       63,918        
     Federal National Mortgage Association
     7.500  
11/01/2021
     193,269       191,711        
     Federal National Mortgage Association
     7.500  
11/01/2022
     182,827       182,928        
     Federal National Mortgage Association
     7.500  
03/01/2023
     45,910       45,390        
     Federal National Mortgage Association
     7.500  
01/01/2025
     366,747       371,483        
     Federal National Mortgage Association
     7.500  
05/01/2026
     199,762       200,038        
     Federal National Mortgage Association
     7.500  
07/01/2027
     379,835       379,571        
     Federal National Mortgage Association
     7.500  
10/01/2030
     114,654       112,402        
     Federal National Mortgage Association
     7.500  
01/01/2031
     88,382       89,818        
     Federal National Mortgage Association
     7.500  
02/01/2031
     215,580       216,896        
     Federal National Mortgage Association
     7.500  
01/01/2032
     196,635       197,511        
     Federal National Mortgage Association
     7.500  
04/01/2032
     178,271       179,422        
     Federal National Mortgage Association
     7.500  
04/01/2032
     141,104       142,015        
     Federal National Mortgage Association
     7.500  
06/01/2032
     163,556       161,493        
     Federal National Mortgage Association
     7.500  
07/01/2032
     114,148       113,971        
     Federal National Mortgage Association
     7.500  
04/01/2033
     85,572       84,689        
     Federal National Mortgage Association
     7.500  
11/01/2033
     175,539       174,006        
     Federal National Mortgage Association
     7.500  
03/01/2034
     573,840       568,416        
     Federal National Mortgage Association
     7.500  
05/01/2034
     639,684       631,465        
     Federal National Mortgage Association
     8.000  
07/01/2009
     14,923       13,884        
     Federal National Mortgage Association
     8.000  
03/01/2032
     299,922       299,867        
     Federal National Mortgage Association
     8.000  
05/01/2032
     74,866       74,115        
     Federal National Mortgage Association
     8.000  
11/01/2033
     197,228       194,739        
     Federal National Mortgage Association
     8.330  
05/25/2018
     87,279       81,902      
(a,b)
  
     Federal National Mortgage Association
     8.500  
06/01/2028
     375,067       369,936          
     Federal National Mortgage Association
     8.500  
08/01/2029
     659,247       651,172          
     Federal National Mortgage Association
     8.500  
08/01/2030
     129,681       126,331          
     Federal National Mortgage Association
     9.000  
08/01/2010
     17,934       16,938          
     Federal National Mortgage Association
     9.000  
03/01/2011
     823,207       836,150          
     Federal National Mortgage Association
     9.000  
12/01/2031
     195,466       197,578          
     Federal National Mortgage Association
     9.500  
09/01/2021
     258,802       244,387          
     Federal National Mortgage Association
     16.750  
07/25/2044
     1,915,066       2,302,790      
(a,b)
  
     Federal National Mortgage Association - REMIC
     5.500  
02/25/2031
     3,916,779       3,920,896          
     Government National Mortgage Association
     6.000  
06/15/2025
     604,755       601,417          
     Government National Mortgage Association
     6.000  
06/15/2026
     766,577       762,525          
     Government National Mortgage Association
     6.000  
01/15/2035
     684,812       676,738          
 
 

See accompanying notes to schedule of assets on page 20.
(continued)


 
 
 
- 17 -
 
 
 
 
GE SAVINGS AND SECURITY PROGRAM
 
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
 
As of December 31, 2007
 
Description
  
Rate of Interest
  
 Maturity
  
* Cost
    
Fair Value
  
U.S. Government and Agency Debt Obligations, continued
                    
     Government National Mortgage Association
     6.000 %
04/15/2035
   $ 826,873     $ 817,633  
     Government National Mortgage Association
     6.000  
06/15/2035
     828,327       819,937  
     Government National Mortgage Association
     6.000  
07/15/2035
     490,885       485,619  
     Government National Mortgage Association
     6.500  
11/15/2016
     482,755       468,018  
     Government National Mortgage Association
     6.500  
04/15/2017
     164,188       159,057  
     Government National Mortgage Association
     6.500  
03/15/2024
     546,687       529,088  
     Government National Mortgage Association
     6.500  
12/15/2024
     1,208,022       1,186,987  
     Government National Mortgage Association
     6.500  
05/15/2026
     1,032,969       1,052,217  
     Government National Mortgage Association
     6.500  
12/15/2029
     397,697       390,863  
     Government National Mortgage Association
     6.500  
03/15/2033
     210,435       205,373  
     Government National Mortgage Association
     6.500  
10/15/2033
     628,457       613,988  
     Government National Mortgage Association
     6.500  
11/15/2033
     603,889       589,724  
     Government National Mortgage Association
     6.500  
01/15/2034
     986,118       962,563  
     Government National Mortgage Association
     6.500  
01/15/2034
     758,784       740,659  
     Government National Mortgage Association
     6.500  
02/15/2034
     725,503       702,559  
     Government National Mortgage Association
     6.500  
04/15/2034
     835,894       830,738  
     Government National Mortgage Association
     6.500  
04/15/2035
     859,895       843,364  
     Government National Mortgage Association
     6.500  
05/15/2035
     514,026       504,219  
     Government National Mortgage Association
     6.500  
05/15/2035
     835,053       820,215  
     Government National Mortgage Association
     6.500  
06/15/2035
     914,981       898,722  
     Government National Mortgage Association
     6.500  
07/15/2035
     941,759       925,025  
     Government National Mortgage Association
     6.500  
07/15/2035
     1,002,696       984,586  
     Government National Mortgage Association
     6.500  
09/15/2035
     795,203       784,681  
     Government National Mortgage Association
     6.500  
09/15/2035
     876,561       866,126  
     Government National Mortgage Association
     7.000  
12/15/2018
     399,877       385,350  
     Government National Mortgage Association
     7.000  
11/15/2023
     351,740       349,404  
     Government National Mortgage Association
     7.000  
03/15/2031
     207,795       209,656  
     Government National Mortgage Association
     7.000  
05/15/2032
     457,762       455,704  
     Government National Mortgage Association
     7.000  
11/15/2032
     256,762       252,269  
     Government National Mortgage Association
     7.500  
02/15/2009
     43,407       43,112  
     Government National Mortgage Association
     7.500  
12/15/2012
     886,053       904,004  
     Government National Mortgage Association
     7.500  
12/15/2018
     479,220       462,328  
     Government National Mortgage Association
     7.500  
11/15/2027
     105,182       102,989  
     Government National Mortgage Association
     7.500  
01/15/2031
     438,778       443,284  
     Government National Mortgage Association
     7.500  
01/15/2031
     148,396       149,920  
     Government National Mortgage Association
     7.500  
03/15/2031
     66,084       66,763  
     Government National Mortgage Association
     7.500  
05/15/2031
     314,871       318,104  
     Government National Mortgage Association
     7.500  
07/15/2031
     301,946       305,047  
     Government National Mortgage Association
     7.500  
09/15/2031
     350,987       354,591  
     Government National Mortgage Association
     9.000  
08/15/2009
     155,565       148,034  
     Government National Mortgage Association
     9.000  
12/15/2009
     384,280       362,382  
     Government National Mortgage Association
     9.000  
04/15/2015
     1,585,143       1,527,935  
     Government National Mortgage Association
     9.000  
11/15/2017
     1,039,007       1,018,711  
     Government National Mortgage Association
     9.500  
12/15/2009
     105,236       99,916  

 
See accompanying notes to schedule of assets on page 20.
(continued)


 
 
 
- 18 -
 

 
GE SAVINGS AND SECURITY PROGRAM
 
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
 
As of December 31, 2007

 
 
Description
  
Rate of Interest
    
Maturity
    
* Cost
    
Fair Value
  
U.S. Government and Agency Debt Obligations, continued
                        
     Government National Mortgage Association
     9.500 %  
12/15/2009
     $ 610,850     $ 576,057  
     Government National Mortgage Association
     9.500    
12/15/2009
       108,546       103,216  
     U.S. Treasury Notes
     3.875    
05/15/2010
       15,052,185       15,283,800  
     U.S. Treasury Notes
     4.625    
11/30/2008
       81,436,516       81,927,448  
     U.S. Treasury Notes
     4.625    
11/15/2009
       114,109,971       116,223,542  
     U.S. Treasury Notes
     4.625    
10/31/2011
       61,621,095       64,608,267  
     U.S. Treasury Notes
     4.750    
11/15/2008
       51,635,977       52,172,244  
     U.S. Treasury Notes
     4.750    
02/15/2010
       8,231,343       8,471,982  
     U.S. Treasury Notes
     4.875    
05/31/2008
       5,301,103       5,332,065  
     U.S. Treasury Notes
     4.875    
08/15/2009
       10,957,947       11,200,622  
           Total U.S. Government and Agency Debt Obligations
                   864,577,067       872,516,234  
                               
U.S. Savings Bonds
          
Units
    
* Cost
    
Fair Value
  
   1978 U.S. Savings Bond E Series
             5,341       100,144       567,290  
   1979 U.S. Savings Bond E Series
             8,130       152,437       828,727  
   1980 U.S. Savings Bond EE Series
             3,827       191,350       1,129,095  
   1981 U.S. Savings Bond EE Series
             4,096       204,800       1,049,277  
   1982 U.S. Savings Bond EE Series
             4,515       225,750       1,089,207  
   1983 U.S. Savings Bond EE Series
             7,922       396,100       1,558,711  
   1984 U.S. Savings Bond EE Series
             9,076       453,800       1,613,855  
   1985 U.S. Savings Bond EE Series
             13,966       698,300       2,368,756  
   1986 U.S. Savings Bond EE Series
             44,958       2,247,900       7,211,495  
   1987 U.S. Savings Bond EE Series
             47,878       2,393,900       6,746,279  
   1988 U.S. Savings Bond EE Series
             55,408       2,770,400       7,504,681  
   1989 U.S. Savings Bond EE Series
             78,372       3,918,600       10,202,412  
   1990 U.S. Savings Bond EE Series
             82,229       4,111,450       10,283,653  
   1991 U.S. Savings Bond EE Series
             86,409       4,320,450       10,394,324  
   1992 U.S. Savings Bond EE Series
             127,861       6,393,050       14,766,240  
   1993 U.S. Savings Bond EE Series
             90,616       4,530,800       8,672,371  
   1994 U.S. Savings Bond EE Series
             74,014       3,700,700       6,512,268  
   1995 U.S. Savings Bond EE Series
             28,737       1,436,850       2,415,063  
   1996 U.S. Savings Bond EE Series
             106       5,300       8,092  
   1997 U.S. Savings Bond EE Series
             206       10,300       15,673  
   1998 U.S. Savings Bond EE Series
             338       16,900       24,649  
   1999 U.S. Savings Bond EE Series
             571       28,550       39,791  
   2000 U.S. Savings Bond EE Series
             775       38,750       51,396  
   2001 U.S. Savings Bond EE Series
             912       45,600       57,388  
   2002 U.S. Savings Bond EE Series
             1,216       60,800       73,195  
   2003 U.S. Savings Bond EE Series
             1,906       95,300       109,681  
   2004 U.S. Savings Bond EE Series
             3,151       157,550       176,344  
   2005 U.S. Savings Bond EE Series
             214,746       10,737,300       11,619,898  
   2006 U.S. Savings Bond EE Series
             208,922       10,446,100       10,898,521  
   2007 U.S. Savings Bond EE Series
             206,489       10,324,450       10,324,450  
      Total U.S. Savings Bonds
                     70,213,681       128,312,782  
 

See accompanying notes to schedule of assets on page 20.
(continued)

 

 
 
 
- 19 -
 

 
 
 
 
GE SAVINGS AND SECURITY PROGRAM
 
Schedule H, Line 4i - Schedule of Assets (Held at End of Year)
 
As of December 31, 2007

Description
  
Rate of Interest
  
 Maturity
  
* Cost
    
Fair Value
    
Corporate Notes
                      
     American Express Credit Corporation
     5.346 %
03/05/2008
   $ 23,021,497     $ 23,021,496    
     Countrywide Financial Corporation
     5.200  
02/27/2008
     9,951,867       9,534,090    
     Countrywide Home Loans Incorporated
     3.250  
05/21/2008
     4,686,639       4,308,689    
     Merrill Lynch & Company, Incorporated
     4.980  
08/22/2008
     55,000,000       55,000,000    
     Morgan Stanley Group Incorporated
     5.350  
02/03/2011
     44,400,000       44,400,000    
           Total Corporate Notes
               137,060,003       136,264,275    
                             
Loans to Participants
                            
         
1 month -
                  
** Various (63,182 loans)
     5.350 – 8.050  
15 years
     –       467,591,238    
                             
Loans Secured by Mortgages and Other Assets
                            
     Bank of America Alternative Loan Trust (Class 4)
     6.500  
06/25/2035
     2,916,009       2,745,222    
     First Union National Bank Commercial Mortgage (Class I)
     1.128  
10/15/2032
     2,791,207       3,091,396    
     Greenwich Capital Commercial Funding Corporation
     1.023  
11/05/2013
     707,732       897,310    
     JP Morgan Chase Commercial Mortgages Sec. Corporation
     5.350  
07/15/2042
     1,098,824       1,126,236  
 (a)
     LB Commercial Conduit Mortgage Trust (Class B)
     6.360  
10/15/2035
     7,338,797       6,958,209    
     LB-UBS Commercial Mortgage Trust
     1.260  
07/15/2035
     475,302       815,735    
     LB-UBS Commercial Mortgage Trust
     5.080  
10/17/2013
     928,851       1,179,383  
 (a)
     Morgan Stanley Capital I
     5.660  
04/15/2038
     1,468,987       1,557,296  
 (a)
     Morgan Stanley Capital I (Class X)
     5.290  
12/15/2041
     1,989,123       2,118,426  
 (a)
     Security National Asset Series Trust (Class A)
     6.355  
12/25/2035
     1,602,427       1,570,387    
           Total Loans Secured by Mortgages and Other Assets
               21,317,259       22,059,600    
                             
     Total Investments
             $ 21,056,872,873     $ 26,796,691,875    

Notes to Schedule of Assets:
 
*
Cost of securities, including cost of GE Common Stock, is the price at which underlying shares in the investment options were purchased, including shares purchased with reinvested interest and dividends. In addition, cost of securities includes gains and losses realized on participant investment switches and is decreased for withdrawals on an average cost basis by individual participant.
**
Represents a party in interest to the Plan.
***
Funds managed by GEAM, a wholly owned subsidiary of General Electric Company.
****
103-12 investment in Collective funds; GE Cash Plus Fund is part of the Short Term Fund.
(a)
Rate of interest is based on computed effective yield.
(b)
Interest only securities represent the right to receive the monthly interest payments on an underlying pool of mortgages.

 
See accompanying Report of Independent Registered Public Accounting Firm.

 
 
- 20 -