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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 Year01/01/2008 — 12/31/2008
  • Date of Plan01/01/1974
  • Net Assets as of 12/31/2008 $48,952,913
  • 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 12/31/2008

  • Active (Eligible) Participants1,119
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits873
  • Subtotal1,992
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits0
  • Total1,992
  • Total number of participants as of 01/01/20081,952
  • Number of participants with account balances1,992
  • 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 SSA73

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 Road
  • CityMount Laurel
  • StateNJ
  • Zip08054-1038
  • Telephone(856) 773-0868
  • EIN23-7376385
  • Industry Code484110
  • Named Administrator0141 Ewrire,& Lj

Plan Administrator Information

  • Administrator NameSAME
  • Administrator EIN

Plan Preparer Information

  • Preparer NameJohn C. Kosmerl, CPA Kosmerl & Company, P.C.
  • Address535 N 5th St
  • City Reading
  • StatePA
  • Zip19601
  • 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 $1,000,000
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 $-4,714,082
Contributions $4,538,993
Cash Contributions $4,538,993
Cash from Employers $4,538,993
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $-9,253,075
Total Interest $1,669,661
Interest-Bearing Cash $31,321
U.S. Government Securities $1,261,772
Corporate Debt Instruments $328,776
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $47,792
Total Dividends $425,089
Preferred Stock $0
Common Stock $425,089
Rents $0
Net gain (loss) on sale of assets $-4,791,532
Aggregate Proceeds $75,054,621
Aggregate Carrying Amount $79,846,153
Total Unrealized Appreciation (depreciation) of assets $-6,556,293
Real Estate $0
Other $-6,556,293
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 $0
Expenses $5,287,976
Total Benefit Payments $4,728,617
Directly to participants or beneficiaries, including direct rollovers $4,693,327
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $35,290
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $559,359
Professional Fees $52,392
Contract Administrator Fees $128,860
Investment Advisory and management fees $334,396
Other Administrative Fees $43,711
Net Income $-10,002,058
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2008 12/31/2007 Change YOY
Total Assets $50,259,284 $60,236,950 -16.56%
Total noninterest-bearing cash $818,671 $624,587 31.07%
Receivables $652,501 $707,527 -7.78%
Employer Contributions $369,200 $448,101 -17.61%
Participant Contributions $0 $0 0.0%
Other Contributions $283,301 $259,426 9.20%
General Investments $33,371,585 $32,124,681 3.88%
Interest-bearing cash $1,080,949 $2,333,647 -53.68%
U.S. Government Securities $25,224,982 $24,445,034 3.19%
Corporate Debt Instruments $7,065,654 $5,346,000 32.17%
Preferred $7,065,654 $5,346,000 32.17%
All Other $0 $0 0.0%
Corporate Stocks $14,587,267 $25,910,006 -43.70%
Preferred $0 $0 0.0%
Common $14,587,267 $25,910,006 -43.70%
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 $829,260 $870,149 -4.70%
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 $1,306,371 $1,281,979 1.90%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $23,934 $34,832 -31.29%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $1,282,437 $1,247,147 2.83%
Net Assets $48,952,913 $58,954,971 -16.97%

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 $128,860 $128,860
Sierra Investments Investment Management $0 $109,158 $109,158
Fred Alger Management, Inc Investment Management $0 $51,617 $51,617
C.S. Mckee, L.P. Investment Management $0 $50,924 $50,924
Smith Barney Investment Management $0 $40,000 $40,000
Cortina Asset Mamagement Investment Management $0 $32,366 $32,366
Philadelphia Int'L Advisors Investment Management $0 $26,910 $26,910
Fifth Third Bank Custodial Services $0 $23,421 $23,421
Stevens & Lee Legal $0 $19,716 $19,716
Kosmerl & Co., P.C. Accounting $0 $18,321 $18,321
Baptiste & Wilder P.C. Legal $0 $14,006 $14,006
Total $0 $515,299 $515,299

Investments

Investments

No investments information available for this plan.

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.