Founded in 1896, the International Union Operating Engine (IUOE) has members in some 170 local unions throughout the United States and Canada. The IUOE is the 12th largest union in the AFL-CIO. Further, nearly 100 apprenticeships and training programs ensure that IUOE members are highly trained, highly skilled craft workers.
For the IUOE Pension Fund, 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 IUOE Pension Fund 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 |
390 |
378 |
-3.59% |
41.2% |
Actuarial Value of Assets |
Current Liability |
C |
D |
Assets/ Liability |
Funding Waiver? |
Yes |
No |
|
$ 73 M |
90% |
|
X |
Total Contribution |
E |
Total Income |
Total Expenses |
F |
Contribution to Value % |
Expense to Income Ratio |
$ 8.7 M |
13.3% |
$ 10.8 M |
$ 5.3 M |
49.2% |
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 |
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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