UNITED STATES

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

For the fiscal year ended December 31, 2014

Commission file no. 1-11430

A.	Full title of the plan and the address of the plan, if different from that of the issuer named below:

MINERALS TECHNOLOGIES INC.
SAVINGS AND INVESTMENT PLAN

B.	Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

MINERALS TECHNOLOGIES INC.


622 Third Avenue

New York, New York, 10017-6707

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Report of Independent Registered Public Accounting Firm

The Savings and Investment Plan Committee
of Minerals Technologies Inc.:

We have audited the accompanying statements of net assets available for benefits of the Minerals Technologies Inc. Savings and Investment Plan (the Plan) as of December 31, 2014 and 2013, and the related statement of changes in net assets available for 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 misstatements. 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 benefits of the Plan as of December 31, 2014 and 2013, and the changes in net assets available for benefits for the years then ended, in conformity with U.S. generally accepted accounting principles.

The supplemental information in the accompanying schedule H, line 4i – schedule of assets (held at end of year) as of December 31, 2014 has been subjected to audit procedures performed in conjunction with the audit of the Plan's 2014 financial statements. The supplemental information is presented for the purpose of additional analysis and is not a required part of the financial statements but include 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, 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 H, line 4i – schedule of assets (held at end of year) as of December 31, 2014 is fairly stated in all material respects in relation to the 2014 financial statements as a whole.

/s/ KPMG LLP

New York, New York
June 24, 2015

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MINERALS TECHNOLOGIES INC. SAVINGS AND INVESTMENT PLAN Statements of Net Assets Available for Benefits (in thousands)
		December 31,
		2014				2013
Assets:
Investments, at fair value (Notes 3 & 4):
Cash equivalents		$	172			$	229
In securities of participating employer			45,015				38,851
In securities of unaffiliated issuers:
Common stock			16,293				17,016
Common collective funds			48,848				42,604
Pooled separate account			31,255				33,271
Mutual funds			64,427				61,145
Total investments, at fair value			206,010				193,116
Notes receivable from participants			2,708				2,710
Cash - non-interest bearing			893				824
Due from broker			335				--
Net assets available for benefits, before adjustment  below			209,946				196,650
Adjustment from fair value to contract value for fully
benefit-responsive investment contracts (Note 3)			(174	)			(159	)
Net assets available for benefits		$	209,772			$	196,491

See accompanying notes to the financial statements.

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MINERALS TECHNOLOGIES INC. SAVINGS AND INVESTMENT PLAN Statements of Changes in Net Assets Available for Benefits (in thousands)
		Year Ended December 31,
		2014				2013
Additions to net assets attributed to:
Investment income:
Net appreciation in fair value of investments (Note 3)		$	14,741			$	35,938
Dividends			1,706				1,511
Interest			550				603
Investment income			16,997				38,052
Interest from notes receivable from participants			113				114
Contributions:
Participants			6,483				6,073
Employer			2,874				2,785
Total contributions			9,357				8,858
Total additions			26,467				47,024
Reductions from net assets attributed to:
Benefits paid to participants			13,126				14,301
Administrative expenses			60				121
Total reductions			13,186				14,422
Net increase			13,281				32,602
Net assets available for benefits:
Beginning of year			196,491				163,889
End of year		$	209,772			$	196,491

See accompanying notes to the financial statements.

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(1)	Description of Plan
	The following description of the Minerals Technologies Inc. Savings and Investment Plan (the Plan) provides only general information.  Participants should refer to the Plan agreement for a more complete description of the Plan's provisions.
	General
	The Plan is a defined contribution plan sponsored by Minerals Technologies Inc. (the Plan Sponsor or Company).  Employees become eligible to participate in the Plan on the date of their employment.
	The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA).
	Contributions
	Participants may elect to contribute between 2% and 20% of eligible earnings (as defined). Contributions may be made on a before-tax basis, on an after-tax basis, or on a combined basis.  Employee contributions of the first 3% of the participant's eligible contributions will be matched 100% by the Company and the next 2% will be matched 50% by the Company.  Employee contributions in excess of 5% will not be matched. While it is the Company's intention to make matching contributions each payroll period, the Company's Board of Directors reserves the right to increase, reduce or eliminate matching contributions for any Plan Year, or for any payroll period. The Company's matching contributions are invested solely in the Company's common stock. Participants can, at any time, transfer or reallocate amounts held in the MTI Common Stock Fund to another fund under the Plan. Employees initially eligible to participate in the Plan on or after January 1, 2012 will be automatically enrolled at a 3% contribution rate.  Newly eligible participants have approximately 45 days from their initial eligibility date to choose a different pre-tax percentage, contribute on an after-tax basis or to opt not to participate in the Plan.
	Participants may also contribute amounts representing distributions from other qualified defined benefit or defined contribution plans.  Participants direct the investment of their contributions into various investment options offered by the Plan.  The maximum before-tax contribution limit for participants under age 50 was $17,500 for 2014 and $17,500 for 2013.  However, a participant's contributions may be further increased or reduced based on the rules and regulations of the Internal Revenue Code (IRC). All eligible employees who are projected to attain age 50 before the end of the year will be eligible to make pre-tax catch-up contributions in accordance with certain regulations.
	Participant Accounts
	Each participant's account is credited with the participant's contributions and allocations of (a) the Company's contributions and (b) Plan earnings or loss, and charged with an allocation of administrative expenses.  Allocations are based on participant earnings or account balances, as defined.  The benefit to which a participant is entitled is the benefit that can be provided from the participant's account.
	Vesting
	Participants are fully vested in the entire value of their accounts at the time of contribution.
	Investment Options
	Each participant in the Plan elects to have contributions invested in any one or a combination of the following separate investment options as of December 31, 2014:
	New York Life Insurance Anchor Account III: This fund is a New York Life Insurance Company pooled separate account which invests in fixed income securities.
	Aberdeen Total Return Bond Fund: This fund normally invests at least 80% of net assets in investment-grade fixed income securities issued or guaranteed by U.S. for foreign governments, supranational entities, municipalities and corporations in developed and emerging markets.
	SSgA Aged Based Strategy Funds: These funds are designed to incorporate a broad range of asset classes to provide diversification of returns and risks consistent with a stated time horizon. The Strategy Funds asset mix becomes progressively more conservative over time as the strategy target date grows nearer. The strategy target dates range from 2010 to 2045. The investments are in a combination of U.S. stocks, international stocks, bonds

 

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	and cash.
	American Beacon Large Cap Value Fund: The fund normally invests at least 80% of assets in equity securities of large market capitalization U.S. companies.
	American Funds - Fundamental Investors Fund: This fund invests primarily in common stocks and may invest significantly in securities of issuers domiciled outside the U.S. and Canada and not included in the S&P 500 Index.
	Black Rock Equity Index Fund: This fund invests in the same stocks held in the S & P 500 Index.
	Mainstay Balanced Fund: This fund is invested in stocks, bonds and cash equivalents.  Approximately 60% of the fund is invested in mid and large capitalization stocks, and 40% in fixed income securities and cash equivalents.
	Wells Fargo Advantage Large Cap Growth Fund (Administrator Class): This fund primarily invests in large high potential growth companies in rapidly expanding industries. It may also invest up to 25% of assets in securities domiciled outside the U.S.
	SSgA Russell 2000 Index Strategy Fund: This fund is designed to match the risk and return of the Russell 2000  Index, a broadly based average of the U.S. equity market.
	SSgA S&P Midcap 400 Index Strategy Fund: This fund is designed to match the risk and return of the Standard & Poor's 400 Index, a broadly based average of the U.S. equity market.
	MTI Common Stock Fund: This fund invests in the Company's common stock.  The MTI Common Stock Fund is a participant-directed fund. All Company matching contributions are invested in this fund, and once deposited, the investments are participant-directed.
	Pfizer Common Stock Fund: This fund invests in the common stock of Pfizer Inc.  The fund holds contributions to the Pfizer Common Stock Fund, which were transferred from Pfizer Inc. when the Plan was established.  No new contributions or transfers can be made into this fund, however, participants are allowed to transfer balances from this fund into other investment options.
	Mainstay International Equity Fund: This fund invests in a broad range of international stocks traded in public markets.
	TD Ameritrade Brokerage Account: This is a participant-directed brokerage account which invests primarily in a variety of publicly available mutual funds, common stock and cash and cash equivalents.
	Notes Receivable from Participants
	Participants may borrow from their accounts an amount up to $50,000 or 50 percent of their account balance, whichever is less. The minimum amount a participant may borrow is $1,000. The loan repayments and interest earned are allocated to each eligible investment option based upon the participant's current contribution election percentages.
	Loans must be repaid over a period of not more than five years, however, if the loan is used to purchase a principal residence, the loan can be repaid over a period of not more than fifteen years. The loans are secured by the balance in the participant's account and bear interest at rates that range from 4.25% to 10.50% for both 2013 and 2014 which are fixed at the time of the loan and which are commensurate with prevailing rates as determined quarterly by the Plan administrator.
	Payment of Benefits
	On termination of service due to death, disability, retirement, or other reasons, a participant would receive a lump-sum amount equal to the value of the participant's account.  In-service withdrawals, including hardship withdrawals, may also be made under certain circumstances.

 

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(2)	Summary of Significant Accounting Policies
	Basis of Presentation
	The accompanying financial statements have been prepared on the accrual basis of accounting.
	Use of Estimates
	The preparation of financial statements in conformity with U.S. generally accepted accounting principles (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 could differ from those estimates.
	Asset Valuation and Income Recognition
	The Plan's investments are stated at fair value.  Short-term investments are recorded at cost, which approximates fair value.  The common stock within the MTI Common Stock Fund, Pfizer Common Stock Fund, and the shares of mutual funds, including those held in the brokerage account are valued using quoted market prices.  Common collective funds and the pooled separate account are stated at fair value reported by the fund manager based on the underlying investments within each fund and are expressed in units representing the net asset value of each fund.  The value of a unit will fluctuate in response to various factors including, but not limited to, the price of the underlying shares, dividends paid, earnings and losses, and the mix of assets in the respective fund. These investments do not have a readily determinable fair value and as a practical expedient, the Fund relies on net asset values as the fair value for certain investments as of the Plan's measurement date.
	The funds in the pooled separate account are invested in benefit responsive investments contracts and are presented at fair value in the statements of net assets available for benefits with a corresponding adjustment to contract value and the related investment activity is presented at contract value in the statements of changes in net assets available for benefits. The fair value of fully benefit-responsive investment contracts is calculated using a discounted cash flow model which considers recent fee bids as determined by recognized dealers, discount rate and the duration of the underlying portfolio securities.
	Purchases and sales of securities are recorded on a trade date basis.  The net appreciation (depreciation) in fair value of investments consists of the net realized gains and losses from the sale of investments and the unrealized appreciation (depreciation) of the fair value for the investments remaining in the Plan.
	Dividend income is recorded on the ex-dividend date.  Interest income is recorded on an accrual basis.
	Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest.  Delinquent participant loans are reclassified as distributions based upon the terms of the plan agreement.
	Payment of Benefits
	Benefits are recorded when paid.
	Recent Accounting Pronouncements
	On May 1, 2015, the Financial Accounting Standards Board issues Accounting Standards Update (ASU) No. 2015-07, Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent), which removes the requirement to categorize within the fair value hierarchy all investment for which the fair value is measured using the net asset value per share practical expedient.  The ASU also removes the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the net asset value per share practical expedient.  The ASU is effective for public business entities for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years.  Early adoption is permitted. Management is currently evaluating the impact of adopting this new accounting standard update on the Plan's financial statements.

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(3)	Investments
	The following presents investments that represent 5 percent or more of the Plan's net assets:

(dollars and units in thousands)		December 31,
			2014				2013
MTI Common Stock Fund,
	648 units and 647  units, respectively	$	45,015			$	38,851
Pfizer Common Stock Fund,
	523 units and  556  units, respectively	$	16,293			$	17,016
New York Life Insurance Anchor Account III,
	31,081 units and 33,112 units, respectively *	$	31,255			$	33,271
American Funds - Fundamental Investors Fund,
	442 units and 423 units, respectively	$	22,965			$	21,943
Black Rock Equity Index Fund,
	1,305 units and 1,276 units, respectively	$	28,812			$	24,785
Mainstay Balanced Fund,
	492 units and 453 units, respectively	$	16,141			$	14,753

*	Contract value as of December 31, 2014 and 2013 of the New York Life Insurance Anchor Account was $31,081 and $33,112 respectively. Amounts presented in the table reflect fair value.

For the years ended December 31, 2014 and 2013, the Plan's investments (including gains and losses on investments bought and sold, as well as those held during the year) appreciated in value as follows:

 

(dollars in thousands)			Year Ended December 31,
				2014				2013
Common stock			$	6,557			$	16,768
Common collective funds				4,526				8,792
Mutual funds				3,658				10,378
	Total		$	14,741			$	35,938

The average yield of the underlying assets earned by the Plan from the New York Life Insurance Anchor Account III was 2.14% and 2.17% at December 31, 2014 and 2013, respectively. The average crediting interest rate was 1.69% and 1.72% at December 31, 2014 and 2013, respectively.

 

(4)

Fair Value Measurements

There is a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs about which little or no market data exists, therefore requiring an entity to develop its own assumptions.

The 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, 2014 or 2013.

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	Equity securities: The fair value is based on the unadjusted closing price reported on the active market on which the security is traded and is classified within Level 1 of the fair value hierarchy.
	Mutual funds:  Registered investment companies are public investment vehicles valued using net asset value ("NAV") provided by the administrator of the mutual fund. These securities are valued using quoted market prices.  The NAV is an unadjusted quoted price on an active market and classified within Level 1 of the fair value hierarchy.
	Common collective funds: Valued at fair value reported by the fund manager based on the underlying investments within each fund and are expressed in units representing the net asset value of each fund.  These are investment vehicles valued using the NAV provided by the fund trustee based on the value of the underlying assets owned by the trust, minus its liabilities, and then divided by the number of shares outstanding. As a practical expedient, the Fund relies on net asset values as the fair value for common collective funds as of the Plan's measurement date.  There are no imposed redemption restrictions nor does the Plan have any contractual obligations to further invest in the common collective trust funds. The NAV is classified within Level 2 of the fair value hierarchy.
	Pooled separate account:  Valued at fair value reported by the fund manager based on the underlying investments within each fund and are expressed in units representing the net asset value of each fund by discounting the related cash flows based on current yields of similar instruments with comparable durations considering the credit-worthiness of the issuer.  The NAV is classified within Level 2 of the fair value hierarchy. There are no imposed redemption restrictions.
	Cash equivalents:  The carrying value approximates fair value and is classified within Level 1 of the fair value hierarchy.

The following tables sets forth by level, the Plan's financial assets at fair value as of December 31, 2014 and 2013. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The Company's assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels. The method described above may produce a fair value that may not be indicative of net realizable value or reflective of future fair value. There were no transfers between fair value levels during 2014 and 2013.

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(dollars in thousands)
					Investments at Fair Value as determined by Quoted Prices in active markets (Level I)			Valuation techniques based on observable market data (Level II)			Valuation techniques incorporating information other than observable market data (Level III)			Total Investments measured at Fair Value at December 31, 2014
Cash  equivalents				$	172		$	--		$	--		$	172
Common collective funds
		Age-Based Funds		$	--		$	12,802		$	--		$	12,802
		Index Based Funds		$	--		$	36,046		$	--		$	36,046
Total common collective trusts				$	--		$	48,848		$	--		$	48,848
Pooled separate account				$	--		$	31,255		$	--		$	31,255
Mutual funds
		Fixed income funds		$	7,042		$	--		$	--		$	7,042
		Equity Funds		$	34,283		$	--		$	--		$	34,283
		Growth  & Income funds		$	20,581		$	--		$	--		$	20,581
Mutual funds - Participant-Directed Brokerage Account
		Equity Funds –Capital Growth		$	879		$	--		$	--		$	879
		Equity Funds – Current Income		$	161		$	--		$	--		$	161
		Balanced Funds		$	1,218		$			$			$	1,218
		Fixed Income Funds		$	227		$	--		$	--		$	227
		Total Return Funds		$	-		$			$			$	-
		International Funds		$	36		$	--		$	--		$	36
Total mutual funds				$	64,427		$	--		$	--		$	64,427
Common stock
	Pharmaceuticals			$	16,293		$	--		$	--		$	16,293
	Industrial			$	45,015		$	--		$	--		$	45,015
Total common stock				$	61,308		$	--		$	--		$	61,308
			Total investments	$	125,907		$	80,103		$	--		$	206,010

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(dollars in thousands)
					Investments at Fair Value as determined by Quoted Prices in active markets (Level I)			Valuation techniques based on observable market data (Level II)			Valuation techniques incorporating information other than observable market data (Level III)			Total Investments measured at Fair Value at December 31, 2013
Cash  equivalents				$	229		$	--		$	--		$	229
Common collective funds
		Age-Based Funds		$	--		$	10,162		$	--		$	10,162
		Index Based Funds		$	--		$	32,442		$	--		$	32,442
Total common collective funds				$	--		$	42,604		$	--		$	42,604
Pooled separate account				$	--		$	33,271		$	--		$	33,271
Mutual funds
		Fixed income funds		$	6,155		$	--		$	--		$	6,155
		Equity Funds		$	33,806		$	--		$	--		$	33,806
		Growth  & Income funds		$	18,679		$	--		$	--		$	18,679
Mutual funds - Participant-Directed Brokerage Account
		Equity Funds –Capital Growth		$	946		$	--		$	--		$	946
		Equity Funds – Current Income		$	172		$	--		$	--		$	172
		Balanced Funds		$	1,123		$			$			$	1,123
		Fixed Income Funds		$	211		$	--		$	--		$	211
		Total Return Funds		$	22		$			$			$	22
		International Funds		$	31		$	--		$	--		$	31
Total mutual funds				$	61,145		$	--		$	--		$	61,145
Common stock
	Pharmaceuticals			$	17,016		$	--		$	--		$	17,016
	Industrial			$	38,851		$	--		$	--		$	38,851
Total common stock				$	55,867		$	--		$	--		$	55,867
			Total investments	$	117,241		$	75,875		$	--		$	193,116

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(5)	Plan Termination
	Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan by action of the Company's Board of Directors, subject to the provisions of ERISA.  Upon termination of the Plan, each participant thereby affected would receive the entire value of his or her account as of the date of such termination.  No part of the assets in the investment funds established pursuant to the Plan would at any time revert to the Company.
(6)	Tax Status
	The Internal Revenue Service (IRS) determined and informed the Company by a letter dated December 27, 2013, that the Plan and related Trust established thereunder are properly designed and, thus qualified and are tax exempt, respectively, within the meaning of Sections 401(a) and 501(a) of the Internal Revenue Code (IRC).  Although the Plan has been amended and restated since receiving the determination letter, the Company and legal counsel believe that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC.  U.S. GAAP requires plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or de-recognize an asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS.  The plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of December 31, 2014 and 2013, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or de-recognition of an asset) or disclosure in the financial statements.  The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.  The plan administrator believes it is no longer subject to income tax audits for years prior to 2011.
(7)	Administrative and Investment Advisor Costs
	All costs of administering the Plan are paid by the Plan and amounted to $60,144 and $121,273 for the years ended December 31, 2014 and 2013, respectively. Participants are responsible for any origination and maintenance fees for each loan, and certain expenses for participating in the participant directed brokerage account. Investment advisers are reimbursed for cost incurred or receive a management fee for providing investment advisory services. Investment advisory fees and costs are deducted and reflected in the net appreciation (depreciation) in the fair value of investments on the Statements of Changes in Net Assets Available for Benefits.
(8)	Related-Party Transactions
	New York Life Trust Company is Trustee and recordkeeper of the Plan. Certain Plan investments in the pooled separate account and mainstay mutual funds are managed by New York Life Investment Management LLC, an affiliate of New York Life insurance Company.
	Certain Plan investments are shares of the Company's common stock, which qualify as party-in-interest transactions.
(9)	Concentration of Risks and Uncertainties
	The Plan's exposure to a concentration of credit risk is limited by the diversification of investments across several participant-directed fund elections.  Additionally, the investments within each participant-directed fund election are further diversified into varied financial instruments, with the exception of the MTI and Pfizer common stock funds, which principally invest in securities of a single issuer.
	The Plan investments include a number of investment options including MTI and Pfizer common stock and a variety of investment funds, some of which are mutual funds or common collective funds.  Investment securities, in general, are exposed to various risks, such as interest rate, credit, and overall market volatility risk.  Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the statements of net assets for benefits and participant account balances. Plan investments included a variety of investment that may directly or indirectly invest in securities with contractual cash flows. The value, liquidity, and related income of these securities are sensitive to changes in economic conditions and may be adversely affected by shifts in the market's perception of the issuers and changes in interest rates.

 

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(10)	Reconciliation of Financial Statements to Form 5500
	Notes receivable from participants are classified as investments on the Form 5500. The following is a reconciliation of  net assets available for benefits per the financial statements as of December 31, 2014  and 2013, respectively, to the Form 5500 (in thousands):

			December 31,
			2014				2013
Net assets available for benefits , per financial statements		$	209,772			$	196,491
Adjustment from contract value to fair value for
	fully benefit-responsive investment contracts		174				159
Net assets available for benefits, per the Form 5500		$	209,946			$	196,650

The following is a reconciliation of the total net increase (decrease) in net assets available for benefits per the financial statements for the year ended December 31, 2014 and 2013, respectively, to the Form 5500 (in thousands):

				December 31,
				2014				2013
Total net increase per the financial statements			$	13,281			$	32,602
Adjustment from contract value to fair value for fully benefit-
	responsive investment contracts - current year			174				159
Adjustment from contract value to fair value for fully benefit-
	responsive investment contracts - prior year			(159	)			(491	)
Total net income per the Form 5500			$	13,296			$	32,270

(11)

Subsequent Events

On May 9, 2014, pursuant to the Merger Agreement dated March 10, 2014, the Company acquired AMCOL International Corporation ("AMCOL") by completing a tender offer to purchase AMCOL's outstanding shares of common stock and the subsequent merger of AMCOL with and into a wholly-owned subsidiary of MTI. As a result of the acquisition and subsequent integration, the Savings and Investment Plan of AMCOL International was merged into the Minerals Technologies Inc. Savings and Investment Plan on January 1, 2015.

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MINERALS TECHNOLOGIES INC.
SAVINGS AND INVESTMENT PLAN

SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)

December 31, 2014
(in thousands)

(a)	(b)				(c)				(d)			(e)
	Identity of issue, borrower,      lessor or similar party				Description of investment/interest				Cost			Current Value
	Cash Equivalents:
	TD Ameritrade Participant-Directed Brokerage Account				various money market accounts			$	172		$	172
	Pooled Separate Account:
*	New York Life Insurance Anchor Acct III				31,081	units		$	31,081		$	31,255
	Common Collective Funds:
	Age Based 2010 Strategy
	SSgA  Age Based 2010 Strategy Fund				13	units		$	267		$	309
	Age Based 2015 Strategy
	SSgA  Age Based 2015 Strategy
		Non-Lending Fund			146	units		$	2,152		$	2,384
	Age Based 2020 Strategy
	SSgA  Age Based 2020 Strategy
		Lending Fund			78	units		$	2,274		$	2,839
	Age Based 2025 Strategy
	SSgA  Age Based 2025 Strategy Fund				163	units		$	2,187		$	2,822
	Age Based 2030 Strategy
	SSgA  Age Based 2030 Strategy Fund				33	units		$	1,415		$	1,588
	Age Based 2035 Strategy
	SSgA  Age Based 2035 Strategy Fund				82	units		$	1,172		$	1,394
	Age Based 2040 Strategy
	SSgA  Age Based 2040 Strategy Fund				7	units		$	352		$	424
	Age Based 2045 Strategy
	SSgA  Age Based 2045 Strategy Fund				46	units		$	675		$	793
	Black Rock Equity Index Fund				1,305	units		$	18,185		$	28,812
	SSgA Russell 2000 Index Strategy Fund				56	units		$	1.956		$	2,522
	SSgA S&P Midcap 400 Index Strategy Fund				61	units		$	3,563		$	4,712
	Age Based Lifetime Strategy
	SSgA  Age Based Lifetime Income Strategy Fund				16	units		$	236		$	249
			Total Common Collective Funds					$	34,434		$	48,848

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(a)	(b)					(c)				(d)				(e)
	Identity of issue, borrower,      lessor or similar party					Description of investment/interest				Cost				Current Value
	Mutual Funds:
	American Beacon Large Cap Value Fund					139	units		$	3,182			$	3,810
	Aberdeen Total Return Bond Fund					523	units		$	7,181			$	7,042
	American Funds - Fundamental Investors Fund					442	units		$	18,621			$	22,965
*	Mainstay Balanced Fund					492	units		$	14,120			$	16,141
	Wells Fargo Advantage Large Cap Growth Fund					95	units		$	3,519			$	4,440
*	Mainstay International Equity Fund					575	units		$	8,048			$	7,508
	Mutual Fund Window
	TD Ameritrade Participant-Directed Brokerage Account -					various mutual fund investments			$	2,521			$	2,521
			Total Mutual Funds						$	57,192			$	64,427
	Common Stock:
*	MTI Common Stock Fund
	Minerals Technologies Inc.
		Common Stock				648	units		$	21,343			$	45,015
	Pfizer Common Stock Fund
	Pfizer Inc. Common Stock					523	units		$	12,731			$	16,293
			Total Common Stock						$		34,074		$	61,308
*	Notes receivable from participants					307 loans to participants with interest rates of 4.25% to 10.5% with various maturity dates through  2029			$	-			$	2,708
				Total									$	208,718

* Parties in interest, as defined by ERISA.

See accompanying report of independent registered public accounting firm.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the members of the Savings and Investment Plan Committee, which administers the Minerals Technologies Inc. Savings and Investment Plan, have duly caused this annual report to be signed on their behalf by the undersigned thereunto duly authorized.

Minerals Technologies Inc. Savings and Investment Plan

By:	/s/ Douglas Dietrich
	Douglas Dietrich Senior Vice President - Finance and Treasury, Chief Financial Officer Member, Minerals Technologies Inc. Savings and Investment Plan Committee

Date:   June 24, 2015

 

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