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    Steel Pensions

    In 1876, Thomas Alva Edison opened a new laboratory in Menlo Park, New Jersey. Out of the laboratory was to come arguably the most famous invention of all—a successful development of a practical incandescent electric lamp. By 1890, Edison had organized his various businesses into the Edison General Electric Company. According to the Forbes Global 2000 it is the world's second-largest company.

    The GE Pension Plan provides benefits to certain U.S. employees based on the greater of a formula recognizing career earnings or a formula recognizing length of service and final average earnings. Certain benefit provisions are subject to collective bargaining.

    Determining the Health of Your Pension

    For the GE 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?

    Pension Form 5500

    Data comes from the most recent GE 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
    509,558
    513,289
    0.73%
    25.4%

    Actuarial Value of Assets
    Current Liability
    C
      D
    Assets/ Liability
    		 Funding Waiver?
    Yes
    No
    $ 48.2 B
    $ 34.5 B
    140%
    X

     Total Contribution
    E
     Total Income 
    Total Expenses
    F
    Contribution to Value %
    Expense to Income Ratio
    $ 173.9 M
    0.4%
     $  4.7 B
      $ 2.3 B  
    48.8%

    G
    H
    Related Party Trx?
    Min. Funding Waiver?
    Yes
    No
    Yes
    No
     
    X
    		  
    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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