UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
FOR ANNUAL REPORTS OF EMPLOYEE STOCKPURCHASE, SAVINGS
AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
(Mark One):
| ☒ |
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
For the fiscal year ended December 31, 2020
OR
| ☐ |
TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
For the transition period from _________ to ______________
Commission file number 1-10258
| A. |
Full title of the plan and the address of the plan, if different from that of the issuer named below:
|
TREDEGAR CORPORATION
RETIREMENT SAVINGS PLAN
| B. |
Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
|
|
Tredegar Corporation
|
||
|
1100 Boulders Parkway
|
||
|
Richmond, Virginia 23225
|
REQUIRED INFORMATION
See Appendix 1.
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.
|
TREDEGAR CORPORATION
|
|||
|
RETIREMENT SAVINGS PLAN
|
|||
|
By:
|
/s/ Kevin C. Donnelly
|
||
|
Kevin C. Donnelly
|
|||
|
Employee Savings Plan Committee
|
|||
|
Date:
|
June 21, 2021 | ||
Appendix 1
Appendix 1
Appendix 1
Appendix 1
Tredegar Corporation Retirement
Savings Plan
Financial Report
December 31, 2020 and 2019
|
Page
|
||
|
1
|
||
|
FINANCIAL STATEMENTS
|
||
|
2
|
||
|
3
|
||
|
4-12
|
||
|
SUPPLEMENTARY INFORMATION
|
||
|
13
|
||
To the Employee Benefits Administrative Committee, Plan Administrator, and Plan Participants of the Tredegar Corporation Retirement Savings Plan
Opinion on the Financial Statements
We have audited the accompanying statements of net assets available for benefits of the Tredegar Corporation Retirement Savings Plan (the Plan)
as of December 31, 2020 and 2019, the related statements of changes in net assets available for benefits for the years then ended, and the related notes to the financial statements (collectively, the financial statements). In our opinion, the
financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2020 and 2019, and the changes in net assets available for benefits for the years then ended, in conformity with
accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on the Plan’s financial
statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with U.S. federal
securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain
reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements,
whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included
evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
Report on Supplemental Information
The supplemental information in the accompanying schedule of Schedule H, Line 4i - Schedule of Assets (Held at End of Year) as of December 31,
2020, has been subjected to audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is presented for the purpose of additional analysis and is not a required part of the financial
statements but includes supplemental information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental information is the responsibility
of the Plan's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the
completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information in the accompanying schedule, we evaluated whether the supplemental information, including its form and
content, is presented in conformity with the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information in the accompanying
schedule is fairly stated in all material respects in relation to the financial statements as a whole.
/s/ PBMares, LLP
We have served as the Plan’s auditor since 2002.
Richmond, Virginia
June 21, 2021
FINANCIAL STATEMENTS
|
TREDEGAR CORPORATION RETIREMENT SAVINGS PLAN
December 31, 2020 and 2019
|
|
Assets
|
2020
|
2019
|
||||||
|
Investments, at fair value:
|
||||||||
|
Money market fund
|
$
|
893,600
|
$
|
642,032
|
||||
|
Mutual funds
|
116,048,006
|
113,186,449
|
||||||
|
Tredegar Corporation common stock
|
16,691,665
|
18,201,038
|
||||||
|
Self-directed brokerage account
|
3,028,860
|
3,982,739
|
||||||
|
Common collective trust
|
3,284,281
|
3,526,089
|
||||||
|
Total investments
|
139,946,412
|
139,538,347
|
||||||
|
Receivables:
|
||||||||
|
Accrued dividends
|
88,999
|
97,954
|
||||||
|
Notes receivable from participants
|
2,995,797
|
3,495,456
|
||||||
|
|
||||||||
|
Total receivables
|
3,084,796
|
3,593,410
|
||||||
|
Net assets available for benefits
|
$
|
143,031,208
|
$
|
143,131,757
|
||||
See accompanying notes.
|
TREDEGAR CORPORATION RETIREMENT SAVINGS PLAN
Years Ended December 31, 2020 and 2019
|
|
2020
|
2019
|
|||||||
|
Additions to net assets attributed to:
|
||||||||
|
Investment income:
|
||||||||
|
Interest and dividends
|
$
|
8,451,862
|
$
|
3,431,011
|
||||
|
Net appreciation in fair value of investments
|
7,952,237
|
24,062,080
|
||||||
|
Total investment gain
|
16,404,099
|
27,493,091
|
||||||
|
Interest income on notes receivable from participants
|
179,781
|
176,727
|
||||||
|
Contributions:
|
||||||||
|
Participants
|
6,732,016
|
6,597,576
|
||||||
|
Employer
|
3,953,923
|
3,955,202
|
||||||
|
Rollovers
|
631,856
|
695,924
|
||||||
|
Total contributions
|
11,317,795
|
11,248,702
|
||||||
|
Other income
|
-
|
19,321
|
||||||
|
Total additions
|
27,901,675
|
38,937,841
|
||||||
|
Deductions from net assets attributed to:
|
||||||||
|
Administrative expenses
|
217,710
|
184,365
|
||||||
|
Benefits paid to participating employees
|
27,784,514
|
14,396,924
|
||||||
|
Total deductions
|
28,002,224
|
14,581,289
|
||||||
|
Net increase (decrease)
|
(100,549
|
)
|
24,356,552
|
|||||
|
Net assets available for benefits:
|
||||||||
|
Beginning of year
|
143,131,757
|
118,775,205
|
||||||
|
|
||||||||
|
End of year
|
$
|
143,031,208
|
$
|
143,131,757
|
||||
See accompanying notes.
|
TREDEGAR CORPORATION RETIREMENT SAVINGS PLAN
December 31, 2020 and 2019
|
| NOTE 1. |
DESCRIPTION OF PLAN
|
General
Tredegar Corporation and subsidiaries (collectively “Tredegar” or “the Company” or “Plan Sponsor”), which is primarily engaged in the manufacturing of aluminum extrusions, polyethylene films and
polyester films, is a Virginia corporation. The Tredegar Corporation Retirement Savings Plan (“Plan”) was adopted by the Board of Directors of Tredegar (“the Board”) on June 14, 1989 and the Plan was effective as of July 1, 1989.
The Plan is subject to Titles I, II and III and is exempt from Title IV of the Employee Retirement Income Security Act of 1974 (“ERISA”). Title IV of ERISA provides for federally sponsored insurance
for plans that terminate with unfunded benefits. No such insurance is provided to participants in this Plan; however, because the benefits that participants are entitled to receive are always equal to the value of their account balances, the Plan is
always fully funded. The value of a participant's account may change from time to time. Each participant assumes the risk of fluctuations in the value of his or her account.
The Plan is a defined contribution plan. Information regarding plan benefits and vesting is provided in the Plan and related documents, which are available at Tredegar’s main office at 1100 Boulders
Parkway, Richmond, Virginia. Effective January 1, 2019, the Plan was amended to make the Plan a safe harbor 401(k) plan and eliminate after-tax contributions.
The Plan is administered by the Company. Plan assets are held by Fidelity Management Trust Company (“Fidelity”), the trustee of the Plan.
| NOTE 2. |
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 generally accepted accounting principles in the United States of America (U.S. GAAP) 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 may differ from those estimates.
|
TREDEGAR CORPORATION RETIREMENT SAVINGS PLAN
Notes to Financial Statements
December 31, 2020 and 2019
|
| NOTE 2. |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, Continued
|
Investment Valuation and Income Recognition
Investments are reported at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between
market participants at the measurement date. See Note 4 for discussion of fair value measurements.
Purchases and sales of securities are recorded on a trade-date basis. Interest income is recorded on the accrual basis. Dividends are recorded on the ex-dividend date. Net
appreciation includes the Plan's realized and unrealized gains and losses on investments bought and sold as well as held during the year.
Notes Receivable from Participants
Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Interest income is recorded on the accrual basis. No allowance for credit losses has been recorded as of December 31, 2020 or 2019. If a participant ceases to make loan repayments and the plan administrator deems the
participant loan to be in default, the participant loan balance is reduced and a benefit payment is recorded.
Payment of Benefits
Benefits are recorded when paid.
Administrative Expenses
The Plan is responsible for all trustee and investment management fees. Participants are charged a pro-rated per-participant fee of $82.00 (0.12%). In addition, in 2020, to cover additional expenses,
participants were also charged 0.03% of annual plan-related expenses. There were no additional charges in 2019. Tredegar also pays for other administrative expenses up to an annual limit of $75,000. Any expenses in excess of this limit are paid by
the Plan.
Subsequent Events
The Plan has evaluated all events through June 21, 2021, the date the financial statements were issued and has determined that there were no subsequent events that require disclosure pursuant to the
Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”).
|
TREDEGAR CORPORATION RETIREMENT SAVINGS PLAN
Notes to Financial Statements
December 31, 2020 and 2019
|
| NOTE 3. |
CONTRIBUTIONS AND INVESTMENT OPTIONS
|
A participant may contribute a percentage of his or her eligible base pay (as defined) ranging from a minimum of 1% (effective January 1, 2019) to 75%. The 2020 and 2019 Tredegar matching
contribution was $1.00 for every $1.00 a participant contributed up to 5% each payroll period.
With the exception of participants covered under certain collective bargaining agreements, employees are automatically enrolled in the Plan with a pre-tax contribution equal to 3% of base pay
invested in the age appropriate target fund and automatically increased in the succeeding plan year until the contribution level is equal to 5% of base pay. Employees have the choice to waive automatic enrollment as well as automatic increase and
contribute more or less in their choice of investment funds.
Participants direct the investment of their contributions into various investment options offered by the Plan. As of December 31, 2020, the Plan offered twenty-three (23) mutual funds, one (1)
common collective trust, one (1) money market fund and a self-directed brokerage window as investment options to participants. Investments also include the Tredegar Stock Fund, in which new investments are prohibited.
All employer matching contributions are allocated according to the participant's investment direction. If no selection is made, 100% is allocated to the applicable target date fund; the Plan's
default funds, based on the participant's age and an estimated retirement age of 65. The Plan Sponsor may also make an additional discretionary match, to be determined by the Board. There were no such discretionary contributions for the years ended
December 31, 2020 and 2019.
|
TREDEGAR CORPORATION RETIREMENT SAVINGS PLAN
Notes to Financial Statements
December 31, 2020 and 2019
|
| NOTE 4. |
FAIR VALUE MEASUREMENTS
|
FASB ASC 820, Fair Value Measurement, provides the framework for measuring fair value. That framework provides a fair value hierarchy
that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority
to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under FASB ASC 820 are described as follows:
Level 1 Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the
Plan has the ability to access.
Level 2 Inputs to the valuation methodology include:
| • |
quoted prices for similar assets or liabilities in active markets;
|
| • |
quoted prices for identical or similar assets or liabilities in inactive markets;
|
| • |
inputs other than quoted prices that are observable for the asset or liability;
|
| • |
inputs that are derived principally from or corroborated by observable market data by correlation or other means.
|
If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability.
Level 3 Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
The asset or liability's fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value
measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.
Following is a description of the valuation methodologies used for assets measured at fair value. There have been no changes in the methodologies used at December 31, 2020 and
2019.
Money market fund: Valued at market price, which is equivalent to $1 per unit.
Mutual funds: Valued at the daily closing price as reported by the fund. Mutual funds held by the Plan are open-end mutual funds that
are registered with the Securities and Exchange Commission (“SEC”). These funds are required to publish their daily net asset value (“NAV”) and to transact at that price. The mutual funds held by the Plan are deemed to be actively traded.
|
TREDEGAR CORPORATION RETIREMENT SAVINGS PLAN
Notes to Financial Statements
December 31, 2020 and 2019
|
| NOTE 4. |
FAIR VALUE MEASUREMENTS, Continued
|
Common stock: Valued at closing price reported on the active market on which the individual securities are traded.
Self-directed brokerage account: Valued at the closing price reported on the active market on which the individual securities are
traded.
Common/collective trust: A fund that is composed primarily of fully benefit-responsive investment contracts that is valued at the NAV
of units of a bank collective trust. The NAV, as provided by the trustee, is used as a practical expedient to estimate fair value. The NAV is based on the fair value of the underlying investments held by the funds less its liabilities. This practical
expedient is not used when it is determined to be probable that the fund will sell the investment for an amount different than the reported NAV.
The preceding methods described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore,
although the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different
fair value measurement at the reporting date.
The following tables summarize financial assets measured at fair value on a recurring basis, segregated by the level of the valuation inputs within the fair value hierarchy
utilized to measure fair value, as of December 31, 2020 and 2019, respectively:
|
Assets Measured at Fair Value on a Recurring Basis at December 31, 2020
|
||||||||
|
Level 1
|
Total
|
|||||||
|
Money market fund
|
$
|
893,600
|
$
|
893,600
|
||||
|
Mutual funds
|
116,048,006
|
116,048,006
|
||||||
|
Common stock
|
16,691,665
|
16,691,665
|
||||||
|
Self-directed brokerage account
|
3,028,860
|
3,028,860
|
||||||
|
Total assets in the fair value hierarchy
|
$
|
136,662,131
|
136,662,131
|
|||||
|
Investments measured at NAV
|
3,284,281
|
|||||||
|
Total investments at fair value
|
$
|
139,946,412
|
||||||
|
TREDEGAR CORPORATION RETIREMENT SAVINGS PLAN
Notes to Financial Statements
December 31, 2020 and 2019
|
| NOTE 4. |
FAIR VALUE MEASUREMENTS, Continued
|
|
Assets Measured at Fair Value on a Recurring Basis at December 31, 2019
|
||||||||
|
Level 1
|
Total
|
|||||||
|
Money market fund
|
$
|
642,032
|
$
|
642,032
|
||||
|
Mutual funds
|
113,186,449
|
113,186,449
|
||||||
|
Common stock
|
18,201,038
|
18,201,038
|
||||||
|
Self-directed brokerage account
|
3,982,739
|
3,982,739
|
||||||
|
Total assets in the fair value hierarchy
|
$
|
136,012,258
|
136,012,258
|
|||||
|
Investments measured at NAV
|
3,526,089
|
|||||||
|
Total investments at fair value
|
$
|
139,538,347
|
||||||
The Plan did not hold any Level 2 or Level 3 investments as of December 31, 2020 and 2019.
Fair Value of Investments in Entities that Use NAV
The following tables summarize investments measured at fair value based on NAV per share at December 31, 2020 and 2019, respectively.
|
December 31, 2020
|
Fair Value
|
Unfunded
Commitments
|
Redemption
Frequency
|
Redemption
Notice Period
|
|
Common Collective Trust - Galliard Retirement Income Fund 45 (1)
|
$ 3,284,281
|
N/A
|
Daily or monthly
|
None or 5 days
|
|
December 31, 2019
|
Fair Value
|
Unfunded
Commitments
|
Redemption
Frequency
|
Redemption
Notice Period
|
|
Common Collective Trust - Galliard Retirement Income Fund 45 (1)
|
$ 3,526,089
|
N/A
|
Daily or monthly
|
None or 5 days
|
(1) Galliard Retirement Income Fund is an open-end fund incorporated in the United States that will be invested in the Galliard Managed Income
Fund. This fund seeks to provide safety of principal, adequate liquidity and competitive yield with low return volatility.
|
TREDEGAR CORPORATION RETIREMENT SAVINGS PLAN
Notes to Financial Statements
December 31, 2020 and 2019
|
| NOTE 5. |
FORFEITURES
|
On December 31, 2020 and 2019, forfeited nonvested accounts totaled $15,868 and $6,115, respectively. These accounts will be used to reduce future administrative expenses. In 2020 and 2019,
administrative expenses were reduced by $5,868 and $27,259, respectively.
| NOTE 6. |
RELATED PARTY AND PARTY IN INTEREST TRANSACTIONS
|
Certain fees incurred by the Plan for the investment management services are included in net appreciation in fair value of the investment, as they are paid through revenue
sharing, rather than a direct payment.
Certain Plan investments are shares of stock in Tredegar. Tredegar is the Plan Sponsor as defined by the Plan and, therefore, these transactions qualify as related party
transactions.
The Plan also issues loans to participants, which are secured by the vested balances in the participant’s accounts.
| NOTE 7. |
INCOME TAX STATUS
|
The Plan received its latest determination letter on February 28, 2018, in which the Internal Revenue Service stated that the Plan, as then designed, was in compliance with the applicable
requirements of the Internal Revenue Code (“IRC”). The Plan has been amended since receiving the determination letter. However, the Plan administrator and the Plan’s tax counsel believe that the Plan is designed and is currently being operated in
compliance with the applicable requirements of the IRC and therefore, believe that the Plan is qualified, and the related trust is tax-exempt.
U.S. GAAP requires Plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the Plan has taken an uncertain tax position that more likely than not would
not be sustained upon examination by the taxing authorities. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any periods.
|
TREDEGAR CORPORATION RETIREMENT SAVINGS PLAN
Notes to Financial Statements
December 31, 2020 and 2019
|
| NOTE 8. |
RISKS AND UNCERTAINTIES
|
The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market, and credit risks. Due to the level of risk associated with
certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amounts reported in
the statements of net assets available for benefits.
In March 2020, COVID-19 was declared a worldwide health pandemic and has had a significant impact on the national and global economy. The ultimate impact of COVID-19 on the Plan’s financial
statements is unknown at this time. However, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law on March 27, 2020, which provided relief to Plan participants who have been affected by the COVID-19 pandemic as
specified in the CARES Act.
In 2020, management elected to implement certain provisions of the CARES Act and will execute a formal Plan amendment within the time frame required by law. As part of the CARES Act, the Plan
allowed for Coronavirus-Related Distributions for all eligible employees of up to $100,000, without penalty. Eligible employees are not required to repay this distribution, but the Plan allows for them to repay their Plan account within three years
of the date they received their distribution. In addition, the Plan allowed for a suspension of loan payments for all eligible employees until December 31, 2020. The suspended loan payments were restarted after January 1, 2021. The suspended loans
were re-amortized, with new loan payment amounts and payoff dates.
| NOTE 9. |
PLAN TERMINATION
|
Although it has not expressed any intent to do so, Tredegar has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In
the event of Plan termination, participants would become 100% vested in their employer contributions.
|
TREDEGAR CORPORATION RETIREMENT SAVINGS PLAN
Notes to Financial Statements
December 31, 2020 and 2019
|
| NOTE 10. |
RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
|
|
2020
|
2019
|
|||||||
|
Net assets available for benefits per financial statements
|
$
|
143,031,208
|
$
|
143,131,757
|
||||
|
Adjustment for deemed distributed loans
|
(53,597
|
)
|
(35,372
|
)
|
||||
|
Net assets available for benefits per the Form 5500
|
$
|
142,977,611
|
$
|
143,096,385
|
||||
|
Net increase (decrease) per financial statements
|
$
|
(100,549
|
)
|
$
|
24,356,552
|
|||
|
Adjustment for deemed distributed loans
|
(18,225
|
)
|
(14,082
|
)
|
||||
|
Net income (loss) per Form 5500
|
$
|
(118,774
|
)
|
$
|
24,342,470
|
|||
SUPPLEMENTARY INFORMATION
|
TREDEGAR CORPORATION RETIREMENT SAVINGS PLAN
December 31, 2020
EIN: 54-1497771 PN: 002
|
|
(a)
|
(b)
Identity of issuer, borrower, lessor or similar
party
|
(c)
Description of investment including
maturity date, rate of interest,
collateral, par or maturity value
|
(d)
Cost
|
(e)
Current Value
|
||||||
|
*
|
Fidelity Government Cash Reserve
|
Money Market Fund
|
**
|
$
|
893,600
|
|||||
|
American Funds Europacific GR R6
|
Mutual Funds
|
**
|
1,924,577
|
|||||||
|
AMG Managers Silvercrest Small Cap N
|
Mutual Funds
|
**
|
899,888
|
|||||||
|
Carillon Eagle Mid Cap Growth I
|
Mutual Funds
|
**
|
3,007,236
|
|||||||
|
DFA Emerging Markets I
|
Mutual Funds
|
**
|
819,670
|
|||||||
|
Metropolitan West Total Return Bond M
|
Mutual Funds
|
**
|
1,172,421
|
|||||||
|
Templeton Global Bond ADV
|
Mutual Funds
|
**
|
479,448
|
|||||||
|
Vanguard Extended Market IDX ADM
|
Mutual Funds
|
**
|
2,789,836
|
|||||||
|
Vanguard Inflation-Protected Secs ADM
|
Mutual Funds
|
**
|
373,540
|
|||||||
|
Vanguard Institutional Index Fund
|
Mutual Funds
|
**
|
11,110,886
|
|||||||
|
Vanguard REIT Index - Admiral
|
Mutual Funds
|
**
|
471,645
|
|||||||
|
Vanguard Target Retirement Income
|
Mutual Funds
|
**
|
198,312
|
|||||||
|
Vanguard Target Retirement 2015
|
Mutual Funds
|
**
|
4,169,914
|
|||||||
|
Vanguard Target Retirement 2020
|
Mutual Funds
|
**
|
9,992,464
|
|||||||
|
Vanguard Target Retirement 2025
|
Mutual Funds
|
**
|
25,672,161
|
|||||||
|
Vanguard Target Retirement 2030
|
Mutual Funds
|
**
|
17,997,205
|
|||||||
|
Vanguard Target Retirement 2035
|
Mutual Funds
|
**
|
11,915,326
|
|||||||
|
Vanguard Target Retirement 2040
|
Mutual Funds
|
**
|
8,493,834
|
|||||||
|
Vanguard Target Retirement 2045
|
Mutual Funds
|
**
|
5,083,390
|
|||||||
|
Vanguard Target Retirement 2050
|
Mutual Funds
|
**
|
3,446,885
|
|||||||
|
Vanguard Target Retirement 2055
|
Mutual Funds
|
**
|
1,923,804
|
|||||||
|
Vanguard Target Retirement 2060
|
Mutual Funds
|
**
|
1,472,103
|
|||||||
|
Vanguard Total Bond Market Index ADM
|
Mutual Funds
|
**
|
1,834,583
|
|||||||
|
Vanguard Total Intl Stock Index Admiral
|
Mutual Funds
|
**
|
798,878
|
|||||||
|
Galliard Retirement Income Fund 45
|
Collective/Common Trust
|
**
|
3,284,281
|
|||||||
|
*
|
Tredegar Company Stock
|
Employer Stock
|
**
|
16,691,665
|
||||||
|
*
|
Various
|
Self Directed Brokerage Account
|
**
|
3,028,860
|
||||||
|
*
|
Participant loans
|
481 loans, maturing between January 2021 and May 2035 at 4.25% - 6.50% interest
|
$
|
-0-
|
2,995,797
|
|||||
|
|
|
$
|
142,942,209
|
|||||||
|
*
|
Party-in-interest
|
|
||||||||
| ** |
|
Cost omitted for participant directed investments
|
||||||||
See report of independent registered public accounting firm
13
Exhibit 23.1
CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We consent to the incorporation by reference in Registration Statements (File Nos. 033-64647, 333-66562 and 333-120132) on Form S-8 of Tredegar Corporation of our report dated June 21, 2021, relating to our audit of
the financial statements and supplemental schedule of Tredegar Corporation Retirement Savings Plan, which appears in this Annual Report on Form 11-K of Tredegar Corporation Retirement Savings Plan for the year ended December 31, 2020.
/s/ PBMares, LLP
Richmond, Virginia
June 21, 2021