MBIA Inc. has filed its annual Form 11-K report with the SEC for the fiscal year ended December 31, 2023. The report details the financial statements of the MBIA Inc. Employee 401(k) Plan, which is subject to ERISA. The independent audit, conducted by BDO USA, P.C., concluded that the financial statements present fairly the net assets available for benefits, which amounted to $137,520,881 at the end of 2023, up from $125,292,866 in the previous year. The Plan experienced a net increase in assets due to net appreciation in investments and contributions, despite benefit distributions. The Plan offers a range of investment options, including mutual funds and collective trusts, and allows for participant loans. MBIA Inc. matches employee contributions up to a certain limit and...Show More

MBIA Inc. has filed its annual Form 11-K report with the SEC for the fiscal year ended December 31, 2023. The report details the financial statements of the MBIA Inc. Employee 401(k) Plan, which is subject to ERISA. The independent audit, conducted by BDO USA, P.C., concluded that the financial statements present fairly the net assets available for benefits, which amounted to $137,520,881 at the end of 2023, up from $125,292,866 in the previous year. The Plan experienced a net increase in assets due to net appreciation in investments and contributions, despite benefit distributions. The Plan offers a range of investment options, including mutual funds and collective trusts, and allows for participant loans. MBIA Inc. matches employee contributions up to a certain limit and the Plan's investments are managed by Fidelity Management Trust Company. The Plan's financial statements have been prepared in accordance with GAAP and the audit found no material misstatements. The Plan is believed to be in compliance with the Internal Revenue Code and there were no subsequent events requiring adjustments to the financial statements as of the date they were issued, June 20, 2024.