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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 Year01/01/2012 — 12/31/2012
  • Date of Plan01/01/1974
  • Net Assets as of 12/31/2012 $59,161,756
  • 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?Yes
  • Plan Funding Arrangement Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2012

  • Active (Eligible) Participants884
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits945
  • Subtotal1,829
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits36
  • Total1,865
  • Total number of participants as of 01/01/20121,923
  • Number of participants with account balances1,865
  • Number of participants that terminated employment during the plan year with accrued benefits that were less than 100% vested0

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 AdministratorJohn Potts

Audit Information

  • Audit StatusAudited
  • AuditorKosmerl & Co., P.C.
  • Auditor EIN23-2872012
  • Audit Opinion Disclaimer
  • Audit TypeLimited Scope 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
Has the plan failed to provide any benefit when due under the plan? No
If this is an individual account plan, was there a blackout period? No
If there was a blackout period, have you either provided the required notice or one of the exceptions to providing the notice applied under 29 CFR 2520.101-3? No

Financials

Income and Expense Statement

Income $8,028,823
Contributions $3,741,288
Cash Contributions $3,741,288
Cash from Employers $3,741,288
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $4,284,349
Total Interest $1,301,957
Interest-Bearing Cash $838
U.S. Government Securities $921,065
Corporate Debt Instruments $379,050
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $1,004
Total Dividends $402,299
Preferred Stock $0
Common Stock $402,299
Rents $0
Net gain (loss) on sale of assets $347,787
Aggregate Proceeds $80,761,641
Aggregate Carrying Amount $80,413,854
Total Unrealized Appreciation (depreciation) of assets $2,232,306
Real Estate $0
Other $2,232,306
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 $3,186
Expenses $5,234,769
Total Benefit Payments $4,603,916
Directly to participants or beneficiaries, including direct rollovers $4,610,927
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $-7,011
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $630,853
Professional Fees $132,392
Contract Administrator Fees $109,795
Investment Advisory and management fees $353,555
Other Administrative Fees $35,111
Net Income $2,794,054
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2012 12/31/2011 Change YOY
Total Assets $60,694,708 $57,800,531 5.01%
Total noninterest-bearing cash $881,303 $507,127 73.78%
Receivables $598,328 $830,375 -27.94%
Employer Contributions $323,487 $538,800 -39.96%
Participant Contributions $0 $0 0.0%
Other Contributions $274,841 $291,575 -5.74%
General Investments $35,448,667 $34,408,667 3.02%
Interest-bearing cash $1,573,369 $1,408,815 11.68%
U.S. Government Securities $24,070,147 $23,063,522 4.36%
Corporate Debt Instruments $9,805,151 $9,936,330 -1.32%
Preferred $9,805,151 $9,936,330 -1.32%
All Other $0 $0 0.0%
Corporate Stocks $21,646,627 $20,861,208 3.76%
Preferred $0 $0 0.0%
Common $21,646,627 $20,861,208 3.76%
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 $2,119,783 $1,193,154 77.66%
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 $1,532,952 $1,432,829 6.99%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $42,118 $31,791 32.48%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $1,490,834 $1,401,038 6.41%
Net Assets $59,161,756 $56,367,702 4.96%

Service Providers

Persons Receiving Only Eligible Indirect Compensation

There is no information on eligible indirect compensation for this plan.

Other Service Providers Receiving Direct or Indirect Compensation

Name Nature of Service Relationship to Plan Sponsor Direct Compensation Paid by Plan Indirect Compensation Paid by Plan Total Compensation
Sierra Investments Investment management NONE $116,113 $0 $116,113
Frank M. Vaccaro & Associates Claims processing NONE $109,795 $0 $109,795
Stevens & Lee Legal NONE $66,453 $0 $66,453
Fred Alger Management, Inc Investment management NONE $57,447 $0 $57,447
C.S. Mckee, L.P. Investment management NONE $52,832 $0 $52,832
Kosmerl & Co.,P.C. Accounting (including auditing) NONE $52,739 $0 $52,739
Smith Barney Investment management NONE $40,000 $0 $40,000
Cortina Asset Management Investment management NONE $34,383 $0 $34,383
Philadelphia Int'L Advisors Investment management NONE $25,512 $0 $25,512
Cleary, Josem & Trigiani LLP Legal NONE $13,200 $0 $13,200
Total $568,474 $0 $568,474

Indirect Compensation

There are no service providers with indirect compensation listed for this plan.

Service Providers Who Fail or Refuse to Provide Information

There are no service providers who failed or refused to provide information.

Termination Information on Accountants and Enrolled Actuaries

There is no termination information for this plan.

Investments

Investments

No investments information available for this plan.

Insurance Information

Insurance Information

There are no insurance carriers listed for this plan.