x
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ANNUAL
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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For
the fiscal year ended December 31, 2006
OR
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¨
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TRANSITION
REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
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For
the transition period from ________to _______
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Commission
file number: 1-8865
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A.
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Full
title of the plan and the address of the plan, if different from
that of
the issuer named below:
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SIERRA
HEALTH AUTOMATIC RETIREMENT PLAN
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B.
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Name
of issuer of the securities held pursuant to the plan and the address
of
its principal executive
office:
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Page
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(a)
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1
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Financial
Statements:
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2
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3
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4
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Supplemental
Schedule as of December 31, 2006
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8
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9
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Other
schedules required by the Department of Labor’s Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income Security
Act
of 1974 are omitted because of the absence of conditions under which
they
are required.
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(b)
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Exhibit
23 Consent of Independent Registered Public Accounting
Firm
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2006
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2005
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Participant-directed
investments:
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Mutual
funds, at fair
value
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$
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104,016,996
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$
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93,379,065
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Investment
contract, at contract value
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28,324,127
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23,798,438
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Common
stock, at fair
value
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13,172,061
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14,597,395
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Participant
loans, at
cost
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2,300,814
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1,927,031
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Total
Investments
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147,813,998
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133,701,929
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Receivables:
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Employer
contributions
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273,924
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234,297
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Investment
interest
receivable
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-
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2,543
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273,924
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236,840
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Net
Assets Available For
Benefits
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$
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148,087,922
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$
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133,938,769
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2006
|
2005
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Investment
Income:
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Interest
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$
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1,249,525
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$
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663,682
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Dividends
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1,762,804
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1,289,543
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Net
increase in fair value of common/collective trust funds
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-
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261,677
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Net
increase (decrease) in fair value of common stock
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(1,366,461)
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5,018,545
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Net
increase in fair value of mutual funds
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8,370,286
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6,053,674
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Net
Investment Income
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10,016,154
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13,287,121
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Contributions:
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Employer
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6,451,983
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5,317,565
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Participants
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10,108,026
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8,503,994
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Rollovers
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364,536
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490,105
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Total
Contributions
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16,924,545
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14,311,664
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Net
Additions
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26,940,699
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27,598,785
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DEDUCTIONS:
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Benefits
paid to participants
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(12,733,004)
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(12,986,009)
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Plan
expenses
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(58,542)
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(60,396)
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Total
Deductions
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(12,791,546)
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(13,046,405)
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Net
Increase
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14,149,153
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14,552,380
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NET
ASSETS AVAILABLE FOR BENEFITS:
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Beginning
of year
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133,938,769
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119,386,389
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End
Of Year
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$
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148,087,922
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$
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133,938,769
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2006
|
2005
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Prudential
Guaranteed Income Fund
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$
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28,324,127
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$
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23,798,438
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Van
Kampen Equity Income Fund
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20,114,853
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19,253,534
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Prudential
Jennison Growth Fund
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19,158,099
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18,326,707
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Franklin
Balance Sheet Investment Fund
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16,628,480
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14,672,082
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Eaton
Vance Large Cap Value Fund
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15,246,098
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*
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Sierra
Health Services, Inc. Common Stock
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13,172,061
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14,597,395
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PIMCO
Total Return Fund
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11,190,541
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9,137,972
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EuroPacific
Growth Fund
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8,025,168
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6,197,983
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Van
Kampen Comstock Fund
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*
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12,898,575
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(a)
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(b)
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(c)
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(d)
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Identity
of Issue, Borrower, Lessor, or
Similar
Party
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Description
of Investment Including
Rate
of Interest, Collateral, Par, or
Maturity
Date
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Current
Value
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*
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Dryden
Short-term Corporate Bond Fund
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Mutual
Fund
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$
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2,411,803
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Eaton
Vance Large Cap Value Fund
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Mutual
Fund
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15,246,098
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EuroPacific
Growth Fund
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Mutual
Fund
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8,025,168
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Fidelity
Advisor Small Cap Fund
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Mutual
Fund
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4,657,013
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Franklin
Balance Sheet Investment Fund
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Mutual
Fund
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16,628,480
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Franklin US
Government Securities
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Mutual
Fund
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206,863
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PIMCO
Real Return Fund
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Mutual
Fund
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477,912
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PIMCO
Total Return Fund
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Mutual
Fund
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11,190,541
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*
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Prudential
Guaranteed Income Fund
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Guaranteed
Interest Contract (4.1% at December 31, 2006)
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28,324,127
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*
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Prudential
Jennison Growth Fund
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Mutual
Fund
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19,158,099
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Vanguard
Mid Cap Index Fund
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Mutual
Fund
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1,304,603
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Vanguard
Tru 500 Admiral Fund
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Mutual
Fund
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4,595,562
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Van
Kampen Equity Income Fund
|
Mutual
Fund
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20,114,853
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*
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Sierra
Health Services, Inc. Common Stock
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Company
Stock
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13,172,061
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*
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Participant
Loans
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Notes
at fixed interest rates ranging from 5.0% to 10.5%, maturities through
October 2026
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2,300,814
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Total
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$
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147,813,998
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Date: June
28, 2007
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/s/
MARC R. BRIGGS
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Marc
R. Briggs
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Sr.
Vice President, Treasurer and
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Chief
Financial Officer
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