UncleHoney
Full time employment: Posting here.
I got the financial report of my company pension plan today. Looking for a little guidance as to plan health. See anything alarming?
The value of plan assets, after subtracting liabilities of the plan, was $791,158,000 as of June 30, 2005, compared to $760,095,000 as of July 1, 2004. During the plan year the plan experienced an increase in its net assets of $31,063,000. This increase includes unrealized appreciation and depreciation in the value of plan assets; that is, the difference between the value of the plan's assets at the end of the year and the value of the assets at the beginning of the year or the cost of assets acquired during the year. The plan had total investment income of $62,537,000.
Ron
Basic Financial Statement
Benefits under the plan are provided through a trust fund. Plan expenses were $31,474,000. These expenses included $3,118,000 in administrative expenses and $28,356,000 in benefits paid to participants and beneficiaries. A total of 9,121 persons were participants in or beneficiaries of the plan at the end of the plan year, although not all of these persons had yet earned the right to receive benefits.The value of plan assets, after subtracting liabilities of the plan, was $791,158,000 as of June 30, 2005, compared to $760,095,000 as of July 1, 2004. During the plan year the plan experienced an increase in its net assets of $31,063,000. This increase includes unrealized appreciation and depreciation in the value of plan assets; that is, the difference between the value of the plan's assets at the end of the year and the value of the assets at the beginning of the year or the cost of assets acquired during the year. The plan had total investment income of $62,537,000.
Minimum Funding Standards
An actuary's statement shows that enough money was contributed to the plan to keep it funded in accordance with the minimum funding standards of ERISA.Ron