Back to top

Teamsters Local Union 500 Severence Trust Fund Board of Trustees

Plan Rating
FORM 5500 DATA

Teamsters Local 500 Severance Trust Fund

Overview

Plan Information

  • Plan Year01/01/2006 — 12/31/2006
  • Date of Plan01/01/1974
  • Net Assets as of 12/31/2006 $52,973,587
  • Plan Number1
  • Plan Type Multi-Employer
  • Is the plan collectively bargained?Yes
  • Did the plan file for an extension of time or the DFVC Program? No
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2006

  • Active (Eligible) Participants1,065
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits880
  • Subtotal1,945
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total1,945
  • Total number of participants as of 01/01/20060
  • Number of participants with account balances1,945
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0
  • Number of participants required to be reported on Schedule SSA89

Expenses

  • Total Benefit Payments$0
  • Corrective Distributions$0
  • Administrative Service Providers$0
  • Other Expenses$0
  • Total Expenses$0
  • Total Transfers$0

Sponsor Information

  • Address27 Roland Ave
  • CityMount Laurel
  • StateNJ
  • Zip08054-1038
  • Telephone(856) 773-0868
  • EIN23-7376385
  • Industry Code484110
  • Named AdministratorUnion Trustee- Frank Gillen
  • Named Plan SponsorEmployer Tustee-

Plan Administrator Information

  • Administrator NameSAME
  • Administrator EIN

Plan Preparer Information

  • Preparer NameJack Cohen, CPA
  • Address11010 Greiner Road
  • City Philadelphhia
  • StatePA
  • Zip19116
  • Telephone(215) 681-3067
  • Preparer EIN23-2567604

Audit Information

  • Audit StatusAudited
  • AuditorJack Cohen, CPA
  • Auditor EIN23-2567604
  • Audit OpinionUnqualified
  • Audit Type Full Audit

Benefits Provided Under the Plan

Code Benefit Description
2E Profit-sharing A defined contribution plan that allows employer discretionary contributions. These plans often contain a 401(k) feature.

Questions and Answers

Question Answer Amount
During the plan year did the employer fail to transmit to the plan any participant contributions within the time period described in 29 CFT 2510.3-102? No
Were any loans by the plan or fixed income obligations due the plan in default as of the close of plan year or classified during the year as uncollectible? Disregard participant loans secured by participant's account balance. No
Were any leases to which the plan was a party in default or classified during the year as uncollectible? No
Were there any nonexempt transactions with any party-in-interest? No
Was this plan covered by a fidelity bond? Yes $500,000
Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond, that was caused by fraud or dishonesty? No
Did the plan hold any assets whose current value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan receive any noncash contributions whose value was neither readily determinable on an established market nor set by an independent third party appraiser? No
Did the plan have assets held for investment? Yes
Were any plan transactions or series of transactions in excess of 5% of the current value of plan assets? Yes
Were all the plan assets either distributed to participants or beneficiaries, transferred to another plan, or brought under the control of the PBGC? No

Financials

Income and Expense Statement

Income $8,786,671
Contributions $4,554,454
Cash Contributions $4,554,454
Cash from Employers $0
Cash from Participants $4,554,454
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $4,225,446
Total Interest $1,608,781
Interest-Bearing Cash $99,680
U.S. Government Securities $1,245,556
Corporate Debt Instruments $263,545
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $0
Total Dividends $222,059
Preferred Stock $0
Common Stock $222,059
Rents $0
Net gain (loss) on sale of assets $1,176,119
Aggregate Proceeds $33,456,721
Aggregate Carrying Amount $32,280,602
Total Unrealized Appreciation (depreciation) of assets $1,218,487
Real Estate $0
Other $1,218,487
Net investment gain (loss) from common/collective trusts $0
Net investment gain (loss) from pooled separate accounts $0
Net investment gain (loss) from master trust investment accounts $0
Net investment gain (loss) from 103-12 investment entities $0
Net investment gain (loss) from registered investment companies $0
Other Income $6,771
Expenses $4,344,126
Total Benefit Payments $3,851,518
Directly to participants or beneficiaries, including direct rollovers $3,782,782
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $68,736
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $492,608
Professional Fees $39,631
Contract Administrator Fees $102,113
Investment Advisory and management fees $296,442
Other Administrative Fees $54,422
Net Income $4,442,545
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2006 12/31/2005 Change YOY
Total Assets $54,196,640 $49,698,688 9.05%
Total noninterest-bearing cash $109,233 $127,571 -14.37%
Receivables $676,629 $673,794 0.42%
Employer Contributions $378,850 $371,700 1.92%
Participant Contributions $0 $0 0.0%
Other Contributions $297,779 $302,094 -1.43%
General Investments $30,635,047 $28,962,965 5.77%
Interest-bearing cash $2,581,683 $1,742,541 48.16%
U.S. Government Securities $20,784,163 $18,427,565 12.79%
Corporate Debt Instruments $7,269,201 $8,792,859 -17.33%
Preferred $7,269,201 $8,792,859 -17.33%
All Other $0 $0 0.0%
Corporate Stocks $22,425,494 $19,585,535 14.50%
Preferred $0 $0 0.0%
Common $22,425,494 $19,585,535 14.50%
Partnership/joint venture interests $0 $0 0.0%
Real estate (other than employer real property) $0 $0 0.0%
Loans (other than to participants) $0 $0 0.0%
Participants Loans $0 $0 0.0%
Value of interest in common/collective trusts $0 $0 0.0%
Value of interest in pooled separate accounts $0 $0 0.0%
Value of interest in master trust investment accounts $0 $0 0.0%
Value of interest in 103-12 investment entities $0 $0 0.0%
Value of interest in registered investment companies $0 $0 0.0%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $350,237 $348,823 0.41%
Employer-related Investments $0 $0 0.0%
Employer Securities $0 $0 0.0%
Employer Real Property $0 $0 0.0%
Buildings and other property used in plan operation $0 $0 0.0%
Total Liabilities $1,223,053 $1,167,646 4.75%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $21,663 $34,992 -38.09%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $1,201,390 $1,132,654 6.07%
Net Assets $52,973,587 $48,531,042 9.15%

Service Providers

Service Providers

Name Nature of Service Relationship to Plan Sponsor Gross Salary or Allowances Paid by Plan Fees and Commissions Paid by Plan Total Salary/Fees
Frank M. Vaccaro & Associates Contract Administrator $0 $102,113 $102,113
Sierra Investments Investment Management $0 $97,381 $97,381
Fred Alger Management, Inc Investment Management $0 $49,012 $49,012
C.S Mc Kee, L.P. Investment Management $0 $47,437 $47,437
Smith Barney Investment Management $0 $40,000 $40,000
Cortina Asset Management Investment Management $0 $31,429 $31,429
Philadelphia Int'L Advisors Investment Management $0 $25,154 $25,154
Stevens & Lee Legal $0 $12,035 $12,035
Kosmerl & Co P.C. Accounting $0 $10,740 $10,740
Jack Cohen, CPA Accounting $0 $8,960 $8,960
Baptiste & Wilder P.C. Investment Management $0 $7,896 $7,896
Fifth Third Bank Custodial Services $0 $6,027 $6,027
Total $0 $438,184 $438,184

Investments

Investments

No investments information available for this plan.

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.