PENSION TRUST FUND WESTERN STATES, OPEIU
|
|
- Sabrina Randall
- 6 years ago
- Views:
Transcription
1 PENSION TRUST FUND WESTERN STATES, OPEIU MINUTES June 11-13, 2008 The MacArthur Place (800) & (707) (fax) 29 East MacArthur Street, Sonoma, CA TRUSTEES LABOR Judi Zenk, Co-Chair Suzanne Mode Patricia Sanchez Mike Richards MANAGEMENT Arlene Erickson, Co-Chair Lea Ann Doolittle Michael Parmelee Matt Oglesby PLAN PROFESSIONALS Michael Ashman/Rich Valiant/Andrew Zaitsev Investment Consultant, Alan Biller and Associates Mike Clark - Actuary, Real and Letson Peter Marana/Michelle Portteus Plan Manager, Marana Benefits Administration Joe Reinhart Legal Counsel, Zalutsky, Klarquist & Reinhart I. CALL TO ORDER The meeting was called to order on Wednesday, June 11 th at 9:00 AM by Co-Chair J. Zenk. A. MINUTES The Trustees and plan professionals reviewed the minutes contained in the briefing book. 1. March 12-14, 2008 It was moved, seconded and carried ( MSC ) to approve the minutes of March 12-14, March 13, 2008 (Executive Session) It was MSC to approve the minutes of March 13, May 1, 2008 It was MSC to approve the minutes of May 1, 2008.
2 Page 2 II. INVESTMENT MANAGERS - PRESENTATIONS A. AMERICAN REALTY JAY BUTTERFIELD Mr. Butterfield reported that the fund had changed its name to American Core Realty Fund which more accurately reflected the nature of the fund. He also noted that there had been no changes in the management of the firm, that presently $4.4 billion was under management and that the portfolio was biased to the top end of the quality spectrum. He noted that the fund had earned 17.25% in 2007 with most of the gain attributed to appreciation. Mr. Butterfield predicted that future growth would be more moderate and that the portfolio was properly diversified by clients, geography, industry and type. He also noted that there were no waiting lines regarding investing or withdrawals. B. INTECH MARK CORDONE & CHRISTIAN MCCORMICK Mr. McCormick made the presentation to the Board noting that the firm retained its own management though it was owned by Janus. He reviewed the performance data contained in the presentation booklet and touched on the methodology of the INTECH investment model. C. WAMCO AARON PRINCE AND STEPHEN FULTON Mr. Fulton made the presentation to the Trustees noting that the last twelve months had been very disappointing noting that the firm s heavy placement in mortgage back securities had seriously harmed performance. He further noted that it would take months to recover from the recent performance problems but that his firm had experienced similar situations in the past and was confident that the adjustments to portfolio would produce positive returns. III. HEDGE FUNDS OF FUNDS A. GROSVENOR INSTITUTIONAL PARTNERS Mr. Tom Meagher and Ms. Julie Lohrmann presented the Trustees with the advantages of investing with Grosvnor. It was noted that the firm was privately owned and established in It currently had $26 billion under management and that its core goal was capital preservation with a performance goal of Treasury Bills plus 500 basis points. The fees were reviewed and it was emphasized that there was no restriction on redemption outside of a 70-day notice. B. AUSTIN CAPITAL SAFE HARBOUR FUND Mr. Paul Gurewitz and Mr. Will Gray noted that the firm was established in 1993, was owned by KeyCorp and currently had $2.3 billion under management. They described the firm as a boutique hedge fund of funds and reviewed their investment performance. The commented that their performance goal was the 90-day Treasury Bill plus basis points and that they had out-performed the market during periods of stress.
3 Page 3 C. STERLING STAMOS SECURITY FUND Mr. Stamos, Mr. Ashok Chachra and Mr. Okimoto made the presentation to the Trustees. It was noted that the fund was presently closed but investments would be accepted by clients of Biller and Associates. It was noted that the firm was founded in 1980 with the absolute return fund created in The performance goal was Treasury Bills plus basis points. The fee structure was discussed as well as the firm s use of insurance investments to hedge against extreme market risk. It was MSC to select Sterling Stamos and Grosvnor as the two investment managers in the funds of funds hedge fund asset classification. Trustee Zenk abstained from the vote. It was MSC to allocate 5.0% of the portfolio, split 50/50 between the two new funds of funds investment managers, with the Consultant to re-balance when allocating assets. Trustee Zenk abstained from the vote. It was MSC to direct the Consultant to analyze a 5.0% and 10.0% allocation to the funds of funds hedge fund asset classification. IV. PROFESSIONALS A. ACTUARY 1. New Rules for Minimum Lump Sums Mr. Clark reviewed the memo addressing the new PPA rules dealing with minimum lump sum distributions. 2. Exhibits Hourly Contribution History Mr. Clark also distributed exhibits showing the distribution of contribution rates by amounts since The data was displayed in both a pie chart and table format. B. LEGAL COUNSEL 1. Articles of Dissolution Hawthorne Business Center Mr. Reinhart noted that the sale of the Hawthorne Business Center was now completed. 2. Horizon/Sea Land Confirmation of Contributions Regarding the issue of whether Horizon Lines properly paid all pension contributions Mr. Reinhart noted that the statute of limitations issue must first be researched before any Trust assets should be spent in auditing the employer or hours by the Plan Manager in retrieving contribution data.
4 Page 4 3. D. Christian Demand Letter to Wells Fargo Bank It was reported that Ms. Christian had been located in Southern California and that efforts would be made to recover the improper pension payments. 4. Participation Agreements To Be Updated Mr. Reinhart commented that he was working with the Plan Manager to update the participation agreement with the goal to create a single document. 5. Summary Plan Description Annual Review The issue of whether to update the current SPD was discussed with Mr. Reinhart reporting that the Trust was not legally required to issue a restatement until Investment Manager Contracts Mr. Reinhart reported that work was proceeding on finalizing the contracts with the Trust s new investment managers. He reviewed the wide range of issues that must be addressed and also commented on the complexity and slowness with these documents are revised and approved by the investment managers. Presently work has been completed on INVESCO Value Added Real Estate, AEGON Enhanced S&P 500 GIC, JPMorgan Infrastructure and IFM Global Infrastructure. Mr. Reinhart also reported that it would be necessary to approve and sign a formal resolution on each new investment manager. It was MSC to approve resolutions adopting contracts with INVESCO Value Added Real Estate, AEGON Enhanced S&P 500 GIC, JPMorgan Infrastructure and IFM Global Infrastructure. It was MSC to accept the report of Legal Counsel, Zalutsky, Klarquist and Reinhart. V. PLAN MANAGER A. FINANCIAL STATEMENTS Mr. Marana reviewed the un-audited financial statements for the period ending March 31, The financial reports, which were included in the briefing book, were reviewed by the Board of Trustees. The financial reports included the balanced sheet, statement of changes to net assets available for benefits, investment manager fee schedule, check list, retirement and terminations report and employer payroll audit report. It was MSC to accept the financial reports and approve the check list for the period ending March 31, 2008.
5 Page 5 B. CORRESPONDENCE 1. Participation Agreement OPEIU, L.U. 5 Mr. Marana noted that the Agreement with OPEIU Local Union 5 had been signed and returned to the employer along with instructions on how to process the retroactive payment. 2. BONY Mellon Services and Fees The summary of services and fees related to custodial services from BONY Mellon was included in the briefing book. The issue as to the need and cost of this service was discussed with further investigation by the Plan Manager requested. It was MSC to direct the Plan Manager to confirm the necessity of custodial banking services. It was MSC to direct the Plan Manager to investigate the value and availability of a sweep account for the Trust. 3. Additional PBI Search - Quote The quote for a second death search was noted since the Trustees had expressed interest in this review being done twice a year. It was MSC to direct the Plan Manager to conduct a PBI search twice a year to confirm that no participants had died without the Plan being notified Payroll Review The list of employers recommended by the compliance auditor was reviewed with no additions or deletions Statements A sample of the participant annual statement was reviewed. Legal Counsel noted that the PPA required clear language on statements regarding a participant s vesting status. C. WEBSITE 1. Utilization Report The utilization report for the Trust web site was reviewed.
6 Page 6 VI. INVESTMENTS A. CONSULTANT 1. Performance Report Mr. Ashman reviewed the Trust s performance report for the period ending April 30, He commented on the general investment environment and reviewed the net performance of each investment against the referenced index. He noted that the redemption for MIREF I would take 6-12 months because of the demand by other clients for liquidation. It was noted that the contracts with the new investment managers had been reviewed and that capital calls were expected from IFM and Invesco. It was reported that the AEGON investment had been funded at $50M with a 75 basis point enchancement over the S&P 500. The issue of reducing manager and strategy specific risk was also discussed with the goal of limiting strategy specific risk to no more than 10% of the Trust s assets. 2. Investment Policy Statement - Update Mr. Ashman noted that the investment policy statement would be updated for the September meeting. It was MSC to accept the report of the Investment Consultant, Alan Biller and Associates. VII. OLD BUSINESS VIII. NEW BUSINESS A. AMERICAN CORE REALTY FUND - CEASE REINVESTING DIVIDEND To free up more cash for new investment classes and to minimize the need for rebalancing it was suggested by the Investment Consultant to direct dividends be forwarded to the Trust instead of reinvested. It was MSC to direct American Core Realty Fund to cease reinvesting dividends and to have this income forwarded directly to the Trust. B. JOINT AND SURVIVOR ANNIUTY OPTION It was reported that the PPA would require a 75% joint and survivor annuity option in The Plan currently offered a 66&2/3% option. Legal Counsel noted that a SMM would be necessary to inform the participants of this plan change and that the web site would need to be updated. It was MSC to add a 75% Joint and Survivor Annuity Option and to delete the existing 66&2/3% option with the change to be adopted no later than January 1, 2009.
7 Page 7 C. PARTICIPATION AGREEMENTS 1. Fringe Benefit Services Denver, CO The Participation Agreement for the Fringe Benefit Services office in Arizona was reviewed by the Trustees. It was MSC to approve the Employer Application and Participation Agreement for Fringe Benefit Services, Inc. D. RENEWAL PROPOSAL - ACTUARY Mr. Clark noted that his firm would not be submitting a fee adjustment at this point even though such a proposal was noted in the trust annual calendar. E. COMMUNICATIONS PROGRAM 1. Proposal Doug Lonergan, Communications Partners The Trustees reviewed the proposal from CPI. The Trustees requested that the company submit some examples of their work that applied specifically to defined benefit pension plans, that an outline be prepared addressing the back content of bi-annual newsletters and also considered offering some seed funding to develop a more formal strategy. F. TRUSTEE ERICKSON EXPENSE REPORTS The issue was raised regarding Trustee Erickson needing to submit expense reports from several years ago when her husband was ill. Mr. Marana noted that most of the activity could be reconstructed but that this would take some staff time. It was MSC to authorize the Plan Manager to re-construct the expense reports for Ms. Erickson and to be reimbursed for this work. IX. CLOSE OF MEETING A. NEXT MEETING September December San Diego Scottsdale B. ADJOURNMENT
WESTERN STATES OFFICE AND PROFESSIONAL EMPLOYEES PENSION FUND
To: Participants, Participating Employers and Local Unions From: Board of Trustees Labor Trustees Management Trustees Judith Zenk, Co-Chair Michael Parmelee, Co-Chair Suzanne Mode Matt Oglesby Mike Richards
More informationDiocese of San Diego
Diocese of San Diego RESTATED PENSION PLAN FOR LAY EMPLOYEES SUMMARY PLAN DESCRIPTION FOR EMPLOYEES OF THE DIOCESE OF SAN DIEGO Effective January 1, 2008 Diocese of San Diego P.O. Box 85728 San Diego,
More informationCity of San Diego Retirement Plan Summary For General Members Hired Before July 1, 2005
City of San Diego Retirement Plan Summary For General Members Hired Before July 1, 2005 This Retirement Plan Summary provides general information about your retirement plan with the San Diego City Employees
More informationQUALIFIED DOMESTIC RELATIONS ORDERS
QUALIFIED DOMESTIC RELATIONS ORDERS The Retirement Equity Act of 1984 established a specific set of rules under which pension benefits can be paid to an alternate payee (a former spouse for dependent child
More informationPlan Provisions Template MassMutual Terminal Funding Contract Quote Request Plan Description
Normal Retirement Date First of the month or Last of the month Coinciding with or next following or Following Age or The later of age or the anniversary of plan participation (The Accrued Benefit as shown
More informationSheet Metal Workers Pension Plan
Sheet Metal Workers Pension Plan OF SOUTHERN CALIFORNIA, ARIZONA & NEVADA P.O. BOX 10067 MANHATTAN BEACH, CA 90266-8567 PHONE: (800) 947-4338 PHONE: (310) 798-6572 FAX: (310) 798-5092 TO: SUBJECT: All
More informationShort Intermediate Term Fund
Short Intermediate Term Fund Overview 70 1999 Financial Highlights 70 Investment Return 71 Audited Financial Statements 72 Short Intermediate Term Fund Overview ($1,769.4 million) The Short Intermediate
More informationCOUNTY OF KALAMAZOO EMPLOYEES RETIREMENT SYSTEM 2012 FISCAL REPORT & SUMMARY OF BENEFITS
COUNTY OF KALAMAZOO EMPLOYEES RETIREMENT SYSTEM 2012 FISCAL REPORT & SUMMARY OF BENEFITS COUNTY OF KALAMAZOO EMPLOYEES RETIREMENT SYSTEM 2012 FISCAL REPORT AND SUMMARY OF BENEFITS TABLE OF CONTENTS 2012
More informationWATER AND POWER EMPLOYEES RETIREMENT, DISABILITY AND DEATH BENEFIT INSURANCE PLAN REPORT ON FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION
WATER AND POWER EMPLOYEES RETIREMENT, DISABILITY AND DEATH BENEFIT INSURANCE PLAN REPORT ON FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION JUNE 30, 2002 WATER AND POWER EMPLOYEES RETIREMENT, INDEX
More informationSalter & Company, LLC SEIU AFFILIATES OFFICERS AND EMPLOYEES PENSION PLAN- UNITED STATES FINANCIAL STATEMENTS
Salter & Company, LLC SEIU AFFILIATES OFFICERS AND EMPLOYEES PENSION PLAN- UNITED STATES FINANCIAL STATEMENTS DECEMBER 31, 2016 AND 2015 Salter & Company, LLC SEIU AFFILIATES OFFICERS AND EMPLOYEES PENSION
More informationAUTOMOTIVE INDUSTRIES PENSION PLAN SUMMARY PLAN DESCRIPTION
AUTOMOTIVE INDUSTRIES PENSION PLAN SUMMARY PLAN DESCRIPTION 2017 Automotive Industries Pension Trust Fund c/o Health Services & Benefit Administrators, Inc. 4160 Dublin Blvd., Suite 400 Dublin, CA 94568
More informationEL PASO COUNTY RETIREMENT PLAN
Management's Discussion and Analysis and Financial Statements For the Years Ended December 31, 2016 and 2015, Supplemental Information And Independent Auditors' Report TABLE OF CONTENTS INDEPENDENT AUDITORS'
More informationRAEL & LETSON CONSULTANTS AND ACTUARIES ACTUARIAL VALUATION
RAEL & LETSON CONSULTANTS AND ACTUARIES ACTUARIAL VALUATION WESTERN STATES OFFICE & PROFESSIONAL EMPLOYEES PENSION PLAN PRELIMINARY RESULTS AS OF JANUARY 1, 2010 June 2010 June 15, 2010 Board of Trustees
More informationMINUTES OF THE BOARD OF RETIREMENT February 25, 2009 Wisteria Room at Casa Nueva 260 N. San Antonio Rd. Santa Barbara, California
SANTA BARBARA COUNTY EMPLOYEES RETIREMENT SYSTEM 3916 State Street Suite 210 Santa Barbara, CA 93105 Phone (805) 568-2940 Fax (805) 560-1086 Tom Ford Interim Retirement Administrator BOARD OF RETIREMENT
More informationMETROPOLITAN LIBRARY COMMISSION OF OKLAHOMA COUNTY
METROPOLITAN LIBRARY COMMISSION OF OKLAHOMA COUNTY LIBRARY RETIREMENT PENSION BOARD AGENDA Members: Nancy Anthony, Chair Judy Smith, Vice-Chair Allen Coffey, Disbursing Agent Tim Rogers, Executive Director
More informationFORM 11-K. CATERPILLAR 401(K) SAVINGS PLAN (Full title of the plan and the address of the plan, if different from that of the issuer named below)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 11-K [X] (Mark One) ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended
More informationLocal Union Officers and Employees Pension Fund Report
Local Union Officers and Employees Pension Fund Report International Union of Bricklayers and Allied Craftworkers 2015 Convention Baltimore, Maryland September 14-18 International Union of Bricklayers
More informationCITY OF MOBILE, ALABAMA POLICE AND FIREFIGHTERS RETIREMENT PLAN
FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION FOR THE YEAR ENDED TABLE OF CONTENTS Page INDEPENDENT AUDITORS' REPORT 1-2 FINANCIAL STATEMENTS Statement of Fiduciary Net Position 3 Statement of Changes
More informationCITY OF JACKSONVILLE BEACH, FLORIDA FIREFIGHTERS' RETIREMENT SYSTEM FINANCIAL STATEMENTS AND REQUIRED SUPPLEMENTARY INFORMATION SEPTEMBER 30, 2016
FINANCIAL STATEMENTS AND REQUIRED SUPPLEMENTARY INFORMATION SEPTEMBER 30, 2016 AND INDEPENDENT AUDITORS REPORT FINANCIAL STATEMENTS AND REQUIRED SUPPLEMENTARY INFORMATION SEPTEMBER 30, 2016 AND INDEPENDENT
More informationCITY OF JACKSONVILLE BEACH, FLORIDA GENERAL EMPLOYEES RETIREMENT SYSTEM FINANCIAL STATEMENTS AND REQUIRED SUPPLEMENTARY INFORMATION SEPTEMBER 30, 2017
FINANCIAL STATEMENTS AND REQUIRED SUPPLEMENTARY INFORMATION SEPTEMBER 30, 2017 AND INDEPENDENT AUDITORS REPORT FINANCIAL STATEMENTS AND REQUIRED SUPPLEMENTARY INFORMATION SEPTEMBER 30, 2017 AND INDEPENDENT
More informationADOPTION AGREEMENT FOR FIS BUSINESS SYSTEMS LLC NON-STANDARDIZED PROFIT SHARING PLAN
ADOPTION AGREEMENT FOR FIS BUSINESS SYSTEMS LLC NON-STANDARDIZED PROFIT SHARING PLAN CAUTION: Failure to properly fill out this Adoption Agreement may result in disqualification of the Plan. Non-Standardized
More informationCITY OF MOBILE, ALABAMA POLICE AND FIREFIGHTERS RETIREMENT PLAN
FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES FOR THE YEARS ENDED SEPTEMBER 30, 2012 AND 2011 TABLE OF CONTENTS Page INDEPENDENT AUDITORS' REPORT 1 FINANCIAL STATEMENTS Statements of Plan Net Assets
More informationSUMMARY PLAN DESCRIPTION. Waukesha State Bank Employees' 401(k) Profit Sharing Plan
SUMMARY PLAN DESCRIPTION Waukesha State Bank Employees' 401(k) Profit Sharing Plan 12/01/2015 Waukesha State Bank Employees' 401(k) Profit Sharing Plan SUMMARY PLAN DESCRIPTION... 1 I. BASIC PLAN INFORMATION...
More informationSUMMARY PLAN DESCRIPTION THE UNIVERSITY OF DAYTON DEFINED CONTRIBUTION AMENDED AND RESTATED RETIREMENT PLAN
SUMMARY PLAN DESCRIPTION OF THE UNIVERSITY OF DAYTON DEFINED CONTRIBUTION AMENDED AND RESTATED RETIREMENT PLAN Original Effective Date of the Plan: April 1, 1992 Amendment and Restatement Effective Date:
More informationCOUNTY OF SAN MATEO PART TIME, SEASONAL, AND TEMPORARY RETIREMENT PLAN
COUNTY OF SAN MATEO PART TIME, SEASONAL, AND TEMPORARY RETIREMENT PLAN ADOPTED USING PDS ADVANTAGE GOVERNMENT 401(a) PLAN ADOPTION AGREEMENT NO. 1 WITH BASE PLAN DOCUMENT NO. 1 11/9/2010 TABLE OF CONTENTS
More informationSAN FRANCISCO CITY AND COUNTY EMPLOYEES RETIREMENT SYSTEM
SAN FRANCISCO CITY AND COUNTY EMPLOYEES RETIREMENT SYSTEM Financial Statements and Required Supplementary Information (With Independent Auditor s Report Thereon) SAN FRANCISCO CITY AND COUNTY EMPLOYEES
More informationUNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C FORM 11-K
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 11-K [ ü] Annual Report Pursuant to Section 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December
More informationSUMMARY PLAN DESCRIPTION. M1 Support Services, L.P. 401(k) Plan
SUMMARY PLAN DESCRIPTION M1 Support Services, L.P. 401(k) Plan M1 Support Services, L.P. 401(k) Plan M1 Support Services, L.P. 401(k) Plan SUMMARY PLAN DESCRIPTION...1 I. BASIC PLAN INFORMATION...2 A.
More informationConsolidated Endowment Fund Investment Policy: Schedule of Significant Changes From Policy Draft Approved June 20, 2008
Schedule of Significant Changes From Policy Draft Approved June 20, 2008 December 26, 2010 : 1. Article III. Duty of Loyalty and Standard of Care a. A statutory reference to applicability of UPMIFA was
More informationGeneral Members. Summary Plan Description. October 2011
Santa Barbara County Employees Retirement System General Members Summary Plan Description October 2011 3916 State Street Suite 210 Santa Barbara, California 93105 Phone 805-568-2940 Fax 805-560-10862400
More informationWESTERN CONFERENCE OF TEAMSTERS SUPPLEMENTAL BENEFIT PLAN SUMMARY PLAN DESCRIPTION
WESTERN CONFERENCE OF TEAMSTERS SUPPLEMENTAL BENEFIT PLAN SUMMARY PLAN DESCRIPTION JULY 17, 2013 TABLE OF CONTENTS Page PURPOSE OF THIS BOOKLET...1 GENERAL INFORMATION ABOUT THE SUPPLEMENTAL PLAN...2 WHAT
More informationSafety Members. Summary Plan Description. Santa Barbara County Employees Retirement System
Safety Members Summary Plan Description Santa Barbara County Employees Retirement System March 2008 August 2009 Dear Member: Your retirement plan is a major benefit of your employment with Santa Barbara
More informationAnnual Funding Notice
Annual Funding Notice for the CENTRAL PENSION FUND OF THE INTERNATIONAL UNION OF OPERATING ENGINEERS AND PARTICIPATING EMPLOYERS Introduction This notice includes important information about the funding
More informationSUMMARY PLAN DESCRIPTION
SUMMARY PLAN DESCRIPTION C & A Industries, Inc. 401(k) Profit Sharing Plan 1-1-18 C & A Industries, Inc. 401(k) Profit Sharing Plan SUMMARY PLAN DESCRIPTION... 1 I. BASIC PLAN INFORMATION... 2 II. PARTICIPATION...
More informationIt is very important that you read this booklet carefully so that you understand how the Plans work.
To all Southern California Pipe Trades Trust Fund Participants: We are pleased to provide you with an updated set of summaries for your benefit funds. These include summaries for the Southern California
More informationEL PASO COUNTY RETIREMENT PLAN
EL PASO COUNTY RETIREMENT PLAN MANAGEMENT S DISCUSSION AND ANALYSIS Management is pleased to provide this overview and analysis of the financial activities of the El Paso County Retirement Plan (the Plan).
More informationEnrollment Guide. Future Savings. Time to Focus on a Healthy RETIREMENT. YOUR ENROLLMENT GUIDE FOR THE 457(b) PLAN
Enrollment Guide Future Savings Time to Focus on a Healthy RETIREMENT YOUR ENROLLMENT GUIDE FOR THE 457(b) PLAN Invest some of what you earn today for what you plan to accomplish tomorrow. Your Employer
More informationCOUNTY OF KALAMAZOO EMPLOYEES RETIREMENT SYSTEM 2014 FISCAL REPORT & SUMMARY OF BENEFITS
COUNTY OF KALAMAZOO EMPLOYEES RETIREMENT SYSTEM 2014 FISCAL REPORT & SUMMARY OF BENEFITS TABLE OF CONTENTS 2014 FISCAL REPORT... 4 TO EMPLOYEES, RETIREES, AND BENEFICIARIES... 4 PHILOSOPHY... 4 MANAGEMENT
More informationPension Board. Regular Meeting. ~ Minutes ~ Thursday, April 12, :15 a.m. Pension Board Conference Room ORDER OF BUSINESS
Pension Board Regular Meeting 917B E. Fifth Ave. Knoxville, TN 37917 www.knoxvillepensionboard.org ~ Minutes ~ Thursday, April 12, 2012 8:15 a.m. Pension Board Conference Room ORDER OF BUSINESS 1. CALL
More informationIDAHO PLUMBERS & PIPEFITTERS PENSION PLAN SUMMARY OF MATERIAL MODIFICATIONS
May 1, 2014 IDAHO PLUMBERS & PIPEFITTERS PENSION PLAN SUMMARY OF MATERIAL MODIFICATIONS This is an Addendum to the Summary Plan Description ( SPD ) for the Idaho Plumbers and Pipefitters Pension Plan (
More informationAgriBank District Retirement Plan. Financial Statements December 31, 2017 and 2016
AgriBank District Retirement Plan Financial Statements December 31, 2017 and 2016 CliftonLarsonAllen LLP CLAconnect.com INDEPENDENT AUDITORS' REPORT Participants and Farm Credit Foundations Trust Committee
More informationThe Eleventh Farm Credit District Employees Retirement Plan. Financial Statements December 31, 2012 and 2011
The Eleventh Farm Credit District Employees Retirement Plan Financial Statements INDEPENDENT AUDITORS' REPORT Participants and Farm Credit Foundations Trust Committee The Eleventh Farm Credit District
More informationBEACON LIGHT BEHAVIORAL HEALTH SYSTEMS RETIREMENT PLAN SUMMARY PLAN DESCRIPTION
BEACON LIGHT BEHAVIORAL HEALTH SYSTEMS RETIREMENT PLAN SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS INTRODUCTION TO YOUR PLAN What information does this Summary Plan Description provide?... 1 ARTICLE I PARTICIPATION
More informationWATER AND POWER EMPLOYEES RETIREMENT, DISABILITY AND DEATH BENEFIT INSURANCE PLAN REPORT ON FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION
WATER AND POWER EMPLOYEES RETIREMENT, DISABILITY AND DEATH BENEFIT INSURANCE PLAN REPORT ON FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION JUNE 30, 2001 WATER AND POWER EMPLOYEES RETIREMENT, INDEX
More informationS U M M A R Y P L A N D E S C R I P T I O N PayPal 401(k) Savings Plan
S U M M A R Y P L A N D E S C R I P T I O N PayPal 401(k) Savings Plan This information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific
More informationState of Minnesota Office of the State Auditor
State of Minnesota Office of the State Auditor Rebecca Otto State Auditor For a Lump-Sum Volunteer Fire Relief Association Affiliated with a City Fire Department February 06, 2012 Revised December 20,
More informationOFFICE AND PROFESSIONAL EMPLOYEES RETIREMENT PLAN. Plan Booklet. And. Summary Plan Description
OFFICE AND PROFESSIONAL EMPLOYEES RETIREMENT PLAN Plan Booklet And Summary Plan Description October 1, 2015 TO ALL PARTICIPATING EMPLOYEES The Office and Professional Employees Retirement Plan has been
More informationPACE INDUSTRY UNION-MANAGEMENT PENSION FUND SUMMARY PLAN DESCRIPTION
PACE INDUSTRY UNION-MANAGEMENT PENSION FUND SUMMARY PLAN DESCRIPTION April 2011 April 2011 To All Participants and Beneficiaries: The Board of Trustees of the PACE Industry Union-Management Pension Fund
More informationState of Minnesota Office of the State Auditor
State of Minnesota Office of the State Auditor Rebecca Otto State Auditor Bylaw Guide For a Lump-Sum Volunteer Fire Relief Association Affiliated with a Joint-Powers Fire Department May 15, 2012 Revised
More information2013 Legislative Update for Volunteer Fire Relief Associations
2013 Legislative Update for Volunteer Fire Relief Associations Inside this issue: Board-Set Deferred Interest Rates Deferred-Service Pension Payment Methods Supplemental Benefits Audit Threshold 6 Withholding
More informationSUMMARY PLAN DESCRIPTION FOR. DAYMON WORLDWIDE INC. 401(k) PROFIT SHARING PLAN AMENDMENT AND RESTATEMENT EFFECTIVE JANUARY 1, 2016
SUMMARY PLAN DESCRIPTION FOR DAYMON WORLDWIDE INC. 401(k) PROFIT SHARING PLAN AMENDMENT AND RESTATEMENT EFFECTIVE JANUARY 1, 2016 Table of Contents Article 1... Introduction Article 2... General Plan Information
More informationFox Valley and Vicinity Laborers Pension Plan. Summary Plan Description
Fox Valley and Vicinity Laborers Pension Plan Summary Plan Description June 2016 FOX VALLEY AND VICINITY LABORERS PENSION PLAN Employer Trustees Union Trustees Mr. Alan Orosz Mr. Dave Sheahan IHC Construction
More informationEighth District Electrical Pension Fund Memo
To: From: Re: Eighth District Electrical Pension Fund Memo Plan Participants, Local Unions and Contributing Employers Board of Trustees, Eighth District Electrical Pension Fund Annual Funding Notice Date:
More informationState of Minnesota Office of the State Auditor
State of Minnesota Office of the State Auditor Rebecca Otto State Auditor Bylaw Guide For a Lump-Sum Volunteer Fire Relief Association Affiliated with a City Fire Department February 06, 2012 Revised July
More informationBuilding Service 32BJ. 101 Avenue of the Americas, New York, NY Telephone
Building Service 32BJ Pension Fund 101 Avenue of the Americas, New York, NY 10013-1991 Telephone 1-212-388-3500 The Building Service 32BJ Pension Fund is administered by a joint Board of Trustees consisting
More informationNotice of Changes in Benefits
This letter is an important notice concerning the Bricklayers and Trowel Trades International Pension Fund (IPF) Rehabilitation Plan. It is being issued in accordance with Section 204(h) of the Employees
More informationSUMMARY PLAN DESCRIPTION. Playhouse Square Foundation 401(k) Plan
SUMMARY PLAN DESCRIPTION Playhouse Square Foundation 401(k) Plan Playhouse Square Foundation 401(k) Plan SUMMARY PLAN DESCRIPTION OVERVIEW... 1 I. BASIC PLAN INFORMATION... 2 II. PARTICIPATION... 4 III.
More informationnorthwest ironworkers
northwest ironworkers retirement trust Summary Plan Description and retirement plan Northwest IronWorkers - Retirement Trust - spd 2012 153g 10/2012-10M 2012 EDITION NORTHWEST IRONWORKERS RETIREMENT TRUST
More informationCODE 403(b) CHURCH PLAN ADOPTION AGREEMENT #004
CODE 403(b) CHURCH PLAN ADOPTION AGREEMENT #004 The following document is an Adoption Agreement for the Code 403(b) Employer Plan Document (the plan document ). This document is not an Internal Revenue
More informationNOTICE OF A MEETING AND AGENDA SPEICAL MEETING OF THE PORTFOLIO RISK COMMITTEE OF THE BOARD OF THE INVESTMENTS
NOTICE OF A MEETING AND AGENDA SPEICAL MEETING OF THE PORTFOLIO RISK COMMITTEE OF THE BOARD OF THE INVESTMENTS LOS ANGELES COUNTY EMPLOYEES RETIREMENT ASSOCIATION 300 N. LAKE AVENUE, SUITE 810, PASADENA,
More informationSUMMARY PLAN DESCRIPTION FOR. National Wildlife Federation Action Fund Retirement 401(k) Plan
SUMMARY PLAN DESCRIPTION FOR National Wildlife Federation Action Fund Retirement 401(k) Plan 1-1-2016 Massachusetts Mutual Life Insurance Company Table of Contents Article 1... Introduction Article 2...
More informationBert Fish Medical Center, Inc.
Bert Fish Medical Center, Inc. Bert Fish Medical Center, Inc. Pension Plan Actuarial Valuation Report as of January 1, 2015 for the plan year beginning on that date April 2015 Harbridge Consulting Group,
More informationACTUARIAL VALUATION OF TOWN OF DAVIE POLICE PENSION PLAN AS OF OCTOBER 1, February, 2014
ACTUARIAL VALUATION OF TOWN OF DAVIE POLICE PENSION PLAN AS OF OCTOBER 1, 2013 February, 2014 Determination of Contribution for the Plan Year ending September 30, 2014 Contribution to be Paid in Fiscal
More informationSUMMARY PLAN DESCRIPTION. Canal Insurance Company 401(k) Savings and Investment Plan
SUMMARY PLAN DESCRIPTION Canal Insurance Company 401(k) Savings and Investment Plan Canal Insurance Company 401(k) Savings and Investment Plan SUMMARY PLAN DESCRIPTION...1 I. BASIC PLAN INFORMATION...2
More informationMINUTES OF THE REGULAR MEETING OF THE BOARD OF INVESTMENTS LOS ANGELES COUNTY EMPLOYEES RETIREMENT ASSOCIATION
MINUTES OF THE REGULAR MEETING OF THE BOARD OF INVESTMENTS LOS ANGELES COUNTY EMPLOYEES RETIREMENT ASSOCIATION 300 N. LAKE AVENUE, SUITE 810, PASADENA, CALIFORNIA 91101 9:00 A.M., WEDNESDAY, DECEMBER 9,
More informationSUMMARY PLAN DESCRIPTION. Waukesha State Bank Employees' 401(k) Profit Sharing Plan
SUMMARY PLAN DESCRIPTION Waukesha State Bank Employees' 401(k) Profit Sharing Plan May 14, 2017 Waukesha State Bank Employees' 401(k) Profit Sharing Plan SUMMARY PLAN DESCRIPTION... 1 I. BASIC PLAN INFORMATION...
More informationSUMMARY PLAN DESCRIPTION. Equinix, Inc. 401(k) Plan
SUMMARY PLAN DESCRIPTION Equinix, Inc. 401(k) Plan Equinix, Inc. 401(k) Plan Equinix, Inc. 401(k) Plan SUMMARY PLAN DESCRIPTION...1 I. BASIC PLAN INFORMATION...2 A. ACCOUNT...2 B. BENEFICIARY...2 C. DEFERRAL
More informationTHE BANK OF NEW YORK MELLON CORPORATION. 401(k) SAVINGS PLAN
PROSPECTUS THE BANK OF NEW YORK MELLON CORPORATION 401(k) SAVINGS PLAN THIS DOCUMENT IS PART OF A PROSPECTUS COVERING SECURITIES THAT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.
More informationProfile 403(b) Group Custodial Account Agreement
Profile 403(b)(7) Group Custodial Agreement Article I - Description of Account This Agreement sets forth the terms of a custodial account established by Employer for employees of the Employer who elect
More informationSUMMARY PLAN DESCRIPTION. WD Associates, Inc. 401(k) Profit Sharing Plan
SUMMARY PLAN DESCRIPTION WD Associates, Inc. 401(k) Profit Sharing Plan WD Associates, Inc. 401(k) Profit Sharing Plan SUMMARY PLAN DESCRIPTION...1 I. BASIC PLAN INFORMATION...2 A. ACCOUNT...2 B. BENEFICIARY...2
More informationADOPTION AGREEMENT FOR FIS BUSINESS SYSTEMS LLC STANDARDIZED MONEY PURCHASE PLAN
ADOPTION AGREEMENT FOR FIS BUSINESS SYSTEMS LLC STANDARDIZED MONEY PURCHASE PLAN CAUTION: Failure to properly fill out this Adoption Agreement may result in disqualification of the Plan. EMPLOYER INFORMATION
More informationFIRE & POLICE PENSION PLAN TIER 2 (FORMERLY ARTICLE XVIII)
FIRE & POLICE PENSION PLAN TIER 2 (FORMERLY ARTICLE XVIII) SUMMARY PLAN DESCRIPTION CITY OF LOS ANGELES Department of Fire and Police Pensions 360 East Second Street, Suite 400 Los Angeles, California
More informationRETIREE INFORMATION PAMPHLET
DOCUMENT CHECKLIST ENCLOSED 520 E. 34 th Ave, Suite 107 Anchorage AK 99503 907-751-9700 or 800-478-4450 www.959trusts.com RETIREE INFORMATION PAMPHLET Please read this entire Retiree Information Pamphlet
More informationUNIVERSITY OF ROCHESTER RETIREMENT PROGRAM. Restatement as of January 1, 2009
UNIVERSITY OF ROCHESTER RETIREMENT PROGRAM Restatement as of January 1, 2009 ARTICLE I INTRODUCTION Table of Contents Page I 1.1 Establishment of Plan 1 1.2 Nature of Plan 1 ARTICLE II ELIGIBILITY 1 2.1
More informationANNUAL FUNDING NOTICE for the AFL-CIO STAFF RETIREMENT PLAN. Introduction
ANNUAL FUNDING NOTICE for the AFL-CIO STAFF RETIREMENT PLAN Introduction This notice includes important funding information about your pension plan ( the Plan ) and general information about the benefit
More informationRetirement Plans 101: An Introduction to Section 403(b)
Retirement Plans 101: An Introduction to Section 403(b) 2008 Giller & Calhoun LLC I. Overview Educational institutions have been offering annuity contracts to their faculty since the early 1900s. The practice
More informationThe General Pension Plan of the International Union of Operating Engineers Part I
The General Pension Plan of the International Union of Operating Engineers Part I SUMMARY PLAN DESCRIPTION 2012 INTERNATIONAL UNION OF OPERATING ENGINEERS GENERAL PENSION PLAN I (for Full-Time Officers
More informationMCGILL UNIVERSITY PENSION FUND STATEMENT OF INVESTMENT POLICY
MCGILL UNIVERSITY PENSION FUND STATEMENT OF INVESTMENT POLICY TABLE OF CONTENTS I - DEFINITIONS... 3 II - OVERVIEW AND PURPOSE... 5 III - PENSION ADMINISTRATION COMMITTEE... 6 3.1 Responsibilities of the
More informationRetirement Plan for CTA Employees
Retirement Plan for CTA Employees 1 0 South LaSalle Street Suite 1100 Chicago, Illinois 60603 (312) 441-9694 Fax (312) 441-0454 www.ctapension.com TO: Board of Trustees Retirement Plan for CTA Employees
More informationTHE NATIONAL INTEGRATED GROUP PENSION PLAN AS AMENDED AND RESTATED EFFECTIVE GENERALLY AS OF JANUARY 1, 2014
THE NATIONAL INTEGRATED GROUP PENSION PLAN AS AMENDED AND RESTATED EFFECTIVE GENERALLY AS OF JANUARY 1, 2014 TABLE OF CONTENTS INTRODUCTION... 1 ARTICLE I NAME OF PLAN AND PURPOSE... 2 ARTICLE II DEFINITIONS...
More informationFREE CHURCH MINISTERS' AND MISSIONARIES' RETIREMENT PLANS AND FCMM BENEFITS
FREE CHURCH MINISTERS AND MISSIONARIES RETIREMENT PLANS AND FCMM BENEFITS Financial Statements With Independent Auditors Report RETIREMENT PLANS AND FCMM BENEFITS Table of Contents Page Independent Auditors'
More informationCEMENT MASONS LOCAL UNION NO. 780 PENSION PLAN. Summary Plan Description
CEMENT MASONS LOCAL UNION NO. 780 PENSION PLAN Summary Plan Description JUNE 2016 Cement Masons Local 780 Pension Fund 76 South Central Avenue, Suite 1C Valley Stream, New York 11580 Phone: 516-775-2280
More informationTHE METROPOLITAN ST. LOUIS SEWER DISTRICT EMPLOYEES PENSION PLAN FINANCIAL STATEMENTS DECEMBER 31, 2016 AND 2015
THE METROPOLITAN ST. LOUIS SEWER DISTRICT FINANCIAL STATEMENTS DECEMBER 31, 2016 AND 2015 Contents Page Independent Auditors Report... 1-2 Management s Discussion And Analysis... 3-12 Financial Statements
More informationHall Actuarial Associates
Charles G. Hall 1624 LaSalle Parc Drive F.C.A., M.A.A.A., A.S.A. Baton Rouge, La. 70806 Enrolled Actuary (225) 928-7866 September 23, 2013 Revised 12/3/2013 - changes are highlighted in yellow on pages
More informationIndependent Auditors Report
Financial Independent Auditors Report KPMG LLP Suite 1900 111 Congress Avenue Austin, TX 78701-4091 Independent Auditors Report The Board of Trustees Texas Municipal Retirement System: We have audited
More informationEFFECTIVE JULY 13, 2016
THE DEFERRED COMPENSATION PLAN FOR PUBLIC EMPLOYEES AS AMENDED AND RESTATED FOR THE COUNTY OF COOK AND COOK COUNTY FOREST PRESERVE DISTRICT 10/2016 THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK TABLE OF
More informationFORM 11-K. SOLAR SAVINGS AND INVESTMENT PLAN (Full title of the plan and the address of the plan, if different from that of the issuer named below)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 11-K [X] (Mark One) ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended
More informationPACE INDUSTRY UNION-MANAGEMENT PENSION FUND SUMMARY PLAN DESCRIPTION
PACE INDUSTRY UNION-MANAGEMENT PENSION FUND SUMMARY PLAN DESCRIPTION June 2006 June 2006 To All Participants and Beneficiaries: The Board of Trustees of the PACE Industry Union-Management Pension Fund
More informationSTATE OF MINNESOTA OFFICE OF THE STATE AUDITOR
REBECCA OTTO STATE AUDITOR STATE OF MINNESOTA OFFICE OF THE STATE AUDITOR SUITE 500 525 PARK STREET SAINT PAUL, MN 55103-2139 (651) 296-2551 (Voice) (651) 296-4755 (Fax) state.auditor@osa.state.mn.us (E-mail)
More informationPENNSYLVANIA STATE SYSTEM OF HIGHER EDUCATION ALTERNATIVE RETIREMENT PLAN SUMMARY PLAN DESCRIPTION
PENNSYLVANIA STATE SYSTEM OF HIGHER EDUCATION ALTERNATIVE RETIREMENT PLAN SUMMARY PLAN DESCRIPTION TABLE OF CONTENTS ARTICLE I. PARTICIPATION IN THE PLAN...1 (i) Page Am I eligible to participate in the
More informationIntroduction. How Well Funded Is Your Plan
CARPENTER FUNDS ADMINISTRATIVE OFFICE OF NORTHERN CALIFORNIA, INC. 265 Hegenberger Road, Suite 100 P.O. Box 2280 Oakland, California 94621 (510) 633-0333 (888) 547-2054 www.carpenterfunds.com December
More informationCITY OF LOS ANGELES BOARD OF DEFERRED COMPENSATION ADMINISTRATION
CITY OF LOS ANGELES BOARD OF DEFERRED COMPENSATION ADMINISTRATION ADOPTED MINUTES REGULAR MEETING JANUARY 18, 2011 9:00 A.M. 700 E. TEMPLE STREET, ROOM 350 BOARD MEMBERS: Present: Eugene K. Canzano, Chairperson
More informationCHS/COMMUNITY HEALTH SYSTEMS, INC. STANDARD 401(K) PLAN SUMMARY PLAN DESCRIPTION JANUARY 1, 2014
CHS/COMMUNITY HEALTH SYSTEMS, INC. STANDARD 401(K) PLAN SUMMARY PLAN DESCRIPTION JANUARY 1, 2014 TABLE OF CONTENTS PAGE INTRODUCTION TO YOUR PLAN What kind of Plan is this?... 1 What information does this
More informationProgress Energy Pension Plan
Document title: AUTHORIZED COPY Progress Energy Pension Plan Document number: HRI-SUBS-00018 Applies to: Keywords: Progress Energy Carolinas, Inc., Progress Energy Florida, Inc. (non-bargaining), Progress
More informationSAN DIEGO CITY EMPLOYEES RETIREMENT SYSTEM STAFF REPORT INVESTMENT DIVISION
SAN DIEGO CITY EMPLOYEES RETIREMENT SYSTEM STAFF REPORT INVESTMENT DIVISION DATE : March 5, 2007 TO : SDCERS' Investment Committee FROM : Doug McCalla, Chief Investment Officer SUBJECT : Status Report
More informationMetro-North Commuter Railroad Company Cash Balance Plan
Metro-North Commuter Railroad Company Cash Balance Plan Financial Statements as of and for the Years Ended December 31, 2014 and 2013, Supplemental Schedules, and Independent Auditors Report METRO-NORTH
More informationPRESERVATION OF CAPITAL
INVESTMENT POLICY STATEMENT VILLAGE OF WILMETTE POLICE PENSION FUND The Village of Wilmette Police Pension Fund is a defined benefit, single employer pension plan. Although a single employer pension plan,
More informationCity of Winter Springs Defined Benefit Plan Actuarial Valuation
February 28, 2011 Mr. Shawn Boyle Finance and Administrative Services Director City of Winter Springs 1126 East State Road 434 Winter Springs, Florida 32708 Re: City of Winter Springs Actuarial Valuation
More informationAutomotive Machinists Pension Plan
INTERNATIONAL ASSOCIATION OF MACHINISTS AND AEROSPACE WORKERS Automotive Machinists Pension Plan Revised July 2008 Automotive Machinists Pension Trust 2815 2 nd Avenue, Suite 300 P.O. Box 34203 Seattle,
More informationGroup Pension Plan for Employees of Mercy Center for Health Services Summary Plan Description Effective as of January 1, 2017
Group Pension Plan for Employees of Mercy Center for Health Services Summary Plan Description Effective as of January 1, 2017 This booklet is a Summary Plan Description (SPD) and summarizes the important
More information