The International Longshore and Warehouse Union (ILWU) is a labor union which primarily represents dock workers on the West Coast of the United States, Hawaii and Alaska, and in British Columbia, Canada. It also represents hotel workers in Hawaii, cannery workers in Alaska, warehouse workers throughout the West and bookstore workers in Portland, Oregon. The union was established in 1937 after the 1934 West Coast longshore strike, a three month-long strike that culminated in a four day general strike in San Francisco and the Bay Area.
For the ILUW, 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 ILUW Form 5500 (Year: 2004) 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 |
15,886 |
18,302 |
15.21% |
73.2% |
Actuarial Value of Assets |
Current Liability |
|
D |
|
Assets/ Liability |
Funding Waiver? |
Yes |
No |
|
$ 20.6 M |
3.96% |
|
X |
Total Contribution |
E |
Total Income |
Total Expenses |
F |
Contribution to Value % |
Expense to Income Ratio |
$335.5 M |
409.3% |
$ 335.8 B |
$331.3 M |
98.6% |
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 |
No Schedule R |
No Schedule R |
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