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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 Year01/01/2007 — 12/31/2007
  • Date of Plan01/01/1974
  • Net Assets as of 12/31/2007 $58,954,971
  • 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 12/31/2007

  • Active (Eligible) Participants1,085
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits867
  • Subtotal1,952
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total1,952
  • Total number of participants as of 01/01/20071,945
  • Number of participants with account balances1,952
  • 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 SSA78

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 AdministratorJares E.7Kelly
  • Named Plan SponsorDie Dosenbach

Plan Administrator Information

  • Administrator NameSAME
  • Administrator EIN

Plan Preparer Information

  • Preparer NameJohn C. Kosmerl, CPA Kosmerl & Company, P.C.
  • Address845 N. Park Rd.
  • City Wyomissing
  • StatePA
  • Zip19610-1342
  • Telephone(610) 372-5815
  • Preparer EIN23-2872012

Audit Information

  • Audit StatusAudited
  • AuditorKosmerl & Co., P.C.
  • Auditor EIN23-2872012
  • 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 $10,579,220
Contributions $4,667,538
Cash Contributions $4,667,538
Cash from Employers $4,667,538
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $5,911,682
Total Interest $1,616,189
Interest-Bearing Cash $68,147
U.S. Government Securities $1,262,865
Corporate Debt Instruments $227,025
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $58,152
Total Dividends $489,549
Preferred Stock $0
Common Stock $489,549
Rents $0
Net gain (loss) on sale of assets $1,214,702
Aggregate Proceeds $72,041,203
Aggregate Carrying Amount $70,826,501
Total Unrealized Appreciation (depreciation) of assets $2,590,777
Real Estate $0
Other $2,590,777
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 $465
Other Income $0
Expenses $4,597,836
Total Benefit Payments $4,060,764
Directly to participants or beneficiaries, including direct rollovers $4,015,007
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $45,757
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $537,072
Professional Fees $26,498
Contract Administrator Fees $116,092
Investment Advisory and management fees $347,102
Other Administrative Fees $47,380
Net Income $5,981,384
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2007 12/31/2006 Change YOY
Total Assets $60,236,950 $54,196,640 11.15%
Total noninterest-bearing cash $624,587 $109,233 471.79%
Receivables $707,527 $676,629 4.57%
Employer Contributions $448,101 $378,850 18.28%
Participant Contributions $0 $0 0.0%
Other Contributions $259,426 $297,779 -12.88%
General Investments $32,124,681 $30,635,047 4.86%
Interest-bearing cash $2,333,647 $2,581,683 -9.61%
U.S. Government Securities $24,445,034 $20,784,163 17.61%
Corporate Debt Instruments $5,346,000 $7,269,201 -26.46%
Preferred $5,346,000 $7,269,201 -26.46%
All Other $0 $0 0.0%
Corporate Stocks $25,910,006 $22,425,494 15.54%
Preferred $0 $0 0.0%
Common $25,910,006 $22,425,494 15.54%
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 $870,149 $350,237 148.45%
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 $1,281,979 $1,223,053 4.82%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $34,832 $21,663 60.79%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $1,247,147 $1,201,390 3.81%
Net Assets $58,954,971 $52,973,587 11.29%

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 $116,092 $116,092
Sierra Investments Investment Management $0 $102,179 $102,179
Fred Alger Management, Inc Investment Management $0 $61,072 $61,072
C.S. Mckee, L.P. Investment Management $0 $54,158 $54,158
Smith Barney Investment Management $0 $40,000 $40,000
Cortina Asset Mamagement Investment Management $0 $37,122 $37,122
Philadelphia Int'L Advisors Investment Management $0 $30,462 $30,462
Fifth Third Bank Custodial Services $0 $22,109 $22,109
Stevens & Lee Legal $0 $12,014 $12,014
Jack Cohen, CPA Accounting $0 $8,889 $8,889
Baptiste & Wilder P.C. Legal $0 $5,595 $5,595
Total $0 $489,692 $489,692

Investments

Investments

No investments information available for this plan.

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.