The National Railroad Passenger Corporation (Amtrak) was incorporated in 1971 pursuant to the Rail Passenger Service Act of 1970 and is authorized to operate a nationwide system of passenger rail transportation.The United States government through the United States
Department of Transportation (DOT) owns all issued and outstanding preferred stock.
Amtrak has a history of recurring operating losses and is dependent on subsidies from the Federal Government to operate the national passenger rail system and maintain the underlying infrastructure. These subsidies are usually received through annual appropriations. Amtrak’s ability to continue operating in its current form is dependent upon the continued receipt of subsidies from the Federal Government.
For the Amtrak Retirement Income 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 Amtrak Retirement Income PlanForm 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 |
5,984 |
6,124 |
2.64% |
49.6% |
Actuarial Value of Assets |
Current Liability |
C |
D |
Assets/ Liability |
Funding Waiver? |
Yes |
No |
|
$ 188.4 M |
84% |
|
X |
Total Contribution |
E |
Total Income |
Total Expenses |
F |
Contribution to Value % |
Expense to Income Ratio |
$ 0 |
0.0% |
$ 13.3 M |
$ 7.8 M |
58.7% |
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: The accountants' audit report was issued with a disclaimer (vs. being "unqualified" as usual).
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.
| 
