The Health and Welfare Fund was established in 1950 and the Pension Fund was established in 1955.
The Pension Fund is one of the nation's largest Taft-Hartley Funds, with approximately 150,000 active participants and benefit payments to more than 210,000 retirees and surviving spouses each month. The Fund's assets as of December 31, 2005 were in excess of $19 billion.
For the Central States, SE and SW Areas Pension Plan, we included the following factors:
A |
% Change - Is your plan growing or shrinking? |
B |
% Active - How many members in your pension plan are active contributors? |
C |
Assets divided by Liability - Perhaps the single best indicator of your plan's health. |
D |
Has your plan been given a funding waiver? Could be a Warning Sign. |
E |
How much of the value of your plan is coming in via contributions? |
F |
Expenses to Income ratio helps show how efficiently your plan is being managed. |
G |
The presence of related party transactions has been a warning sign in the past. |
H |
Potential red flag - minimum funding waiver used in the past |
I |
Potential red flag - Was the minimum fund contribution made? |
J |
Potential red flag - Has there been a change in the actuarial cost method? |
Data comes from the most recent Central States, SE and SW Areas Pension Plan Form 5500 (Year: 2005) found at www.freeERISA.com. If you have questions or concerns, the best person to ask is your Plan Administrator or your financial advisor.
# of Participants |
A |
B |
Beg.of Yr. |
End of Yr. |
% Change |
% Actives |
450,812 |
451,623 |
0.2% |
34.7% |
Actuarial Value of Assets |
Current Liability |
C |
D |
Assets/ Liability |
Funding Waiver? |
Yes |
No |
|
$ 39 B |
46% |
X |
X |
Total Contribution |
E |
Total Income |
Total Expenses |
F |
Contribution to Value % |
Expense to Income Ratio |
$ 1.2 B |
7.0% |
$ 3.2 B |
$ 2.6 B |
82.1% |
G |
H |
Related Party Trx? |
Min. Funding Waiver? |
Yes |
No |
Yes |
No |
| |
X |
|
|
I |
J |
> Min.Contribution? |
Change in Cost Method? |
Yes |
No |
Yes |
No |
X |
|
|
X |
Note: $57M of loans/leases were in default or considered uncollectible at year end. Only a $3M fidelity bond is in place.
Please let us know if you have any questions, if you find this guide useful, or if you have any suggestions to help improve it.
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