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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 Year01/01/2013 — 12/31/2013
  • Date of Plan01/01/1974
  • Net Assets as of 12/31/2013 $63,576,231
  • 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 ArrangementInsurance Trust
  • Plan Benefit Arrangement Trust

Participant Information as of 12/31/2013

  • Active (Eligible) Participants1,026
  • Retired or separated participants receiving benefits0
  • Other retired or separated participants entitled to future benefits521
  • Subtotal1,547
  • Deceased participants whose beneficiaries are receiving or are entitled to receive benefits27
  • Total1,574
  • Total number of participants as of 01/01/20131,865
  • Number of participants with account balances1,574
  • 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 $10,226,114
Contributions $3,838,076
Cash Contributions $3,838,076
Cash from Employers $3,838,076
Cash from Participants $0
Others (including rollovers) $0
Noncash Contributions $0
Total Earnings on Investments $6,365,852
Total Interest $566,070
Interest-Bearing Cash $268
U.S. Government Securities $350,893
Corporate Debt Instruments $151,464
Loans (other than to participants) $0
Participant Loans $0
Interest from Other Investments $63,445
Total Dividends $175,865
Preferred Stock $0
Common Stock $175,865
Rents $0
Net gain (loss) on sale of assets $2,470,953
Aggregate Proceeds $125,443,946
Aggregate Carrying Amount $122,972,993
Total Unrealized Appreciation (depreciation) of assets $3,152,964
Real Estate $0
Other $3,152,964
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 $22,186
Expenses $5,811,639
Total Benefit Payments $5,386,441
Directly to participants or beneficiaries, including direct rollovers $5,411,441
To insurance carriers for the provision of benefits $0
Other Benefit Payment Fees $-25,000
Corrective Distributions $0
Certain deemed distributions of participant loans $0
Interest expense $0
Total Administrative Expenses $425,198
Professional Fees $117,804
Contract Administrator Fees $100,193
Investment Advisory and management fees $175,360
Other Administrative Fees $31,841
Net Income $4,414,475
Transfers of Assets to this Plan $0
Transfers of Assets from this Plan $0

Asset and Liability Statement

12/31/2013 12/31/2012 Change YOY
Total Assets $64,981,792 $60,694,708 7.06%
Total noninterest-bearing cash $416,812 $881,303 -52.71%
Receivables $390,294 $598,328 -34.77%
Employer Contributions $369,355 $323,487 14.18%
Participant Contributions $0 $0 0.0%
Other Contributions $20,939 $274,841 -92.38%
General Investments $1,505,467 $35,448,667 -95.75%
Interest-bearing cash $1,505,467 $1,573,369 -4.32%
U.S. Government Securities $0 $24,070,147 0.0%
Corporate Debt Instruments $0 $9,805,151 0.0%
Preferred $0 $9,805,151 0.0%
All Other $0 $0 0.0%
Corporate Stocks $0 $21,646,627 0.0%
Preferred $0 $0 0.0%
Common $0 $21,646,627 0.0%
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 $62,669,219 $0 0.0%
Value of funds held in insurance co. general account $0 $0 0.0%
Other Investments $0 $2,119,783 0.0%
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 $1,405,561 $1,532,952 -8.31%
Benefit Claims Payable (1) $0 $0 0.0%
Operating Payables (1) $34,684 $42,118 -17.65%
Acquisition Indebtedness (1) $0 $0 0.0%
Other liabilities (1) $1,370,877 $1,490,834 -8.05%
Net Assets $63,576,231 $59,161,756 7.46%

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
Frank M. Vaccaro & Associates Claims processing NONE $100,193 $0 $100,193
Kosmerl & Co.,P.C. Accounting (including auditing) NONE $63,170 $0 $63,170
Sierra Investments Investment management NONE $60,090 $0 $60,090
Stevens & Lee Legal NONE $42,866 $0 $42,866
Smith Barney Investment management NONE $40,000 $0 $40,000
Fred Alger Management, Inc Investment management NONE $26,304 $0 $26,304
C.S. Mckee, L.P. Investment management NONE $23,070 $0 $23,070
Cortina Asset Management Investment management NONE $14,363 $0 $14,363
Cleary, Josem & Trigiani LLP Legal NONE $11,768 $0 $11,768
Philadelphia Int'L Advisors Investment management NONE $11,533 $0 $11,533
Total $393,357 $0 $393,357

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

Insurance Carrier Summary Persons Covered
New York Life Insurancy Company 1,574
EIN 13-5582869
Industry Code 66915
Contract Number GA28180
Contract Year 06/03/2013 — 12/31/2013
Value in General Account at Year End $0
Value in Separate Accounts at Year End $0
Insurance Fees and Commissions $0
Persons Receiving Commissions and Fees There are no brokers listed for this plan.
Allocated Funds
Type of Contract Unspecified
Basis of premium rates
Premiums paid to carrier $0
Premiums due but unpaid at the end of the year $0
If the carrier, service, or other organization incurred any specific costs in connection with the acquisition or retention of the contract or policy, enter amount $0
Specify the nature of the costs
Unallocated Funds
Type of Contract Guaranteed Investment
Balance at the end of the previous year $0
Additions $7,907,807
Contributions Deposited during the year $7,826,249
Dividends and credits $0
Interest credited during the year $81,558
Transferred from separate account $0
Other $0
Total of Balance and Additions $7,907,807
Deductions $1,250,461
Disbursed from fund to pay benefits or purchase annuities during the year $1,231,636
Administration charge made by carrier $18,825
Transferred to Separate Account $0
Other $0
Balance at the end of the current year $6,657,346