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Health & Welfare Plan
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Summary Annual ReportThis is the summary annual report for the ITPE Health and Welfare Fund , EIN 58-1236802, Plan number 501 for the period July 1, 2010 to June 30, 2011. The annual report has been filed with the Employee Benefits Security Administration, as required under the Employee Retirement Income Security Act of 1974 (ERISA).
Basic Financial Statement
The value of plan assets, after subtracting liabilities of the plan, was $67,747,217 as of June 30, 2011, compared to $64,375,273 as of July 1, 2010. During the year the plan experienced an increase or (decrease) in its net assets of $3,371,944. This increase or (decrease) includes unrealized appreciation or depreciation in the value of plan assets; that is, the difference between the value of the plan's assets at the end of the year and the value of the assets at the beginning of the year or the cost of assets acquired during the year. During the plan year, the plan had total income of $67,297,200 including employer contributions of $62,962,552, employee contributions of $115,260, realized gains or (losses) of $1,756,035 from the sale of assets, and earnings from investments of $2,463,353. Plan expenses were $63,025.256. These expenses included $6,474,514 in administrative expenses, $57,450,742 in benefits paid to participants and beneficiaries, and $0 in other expenses.
Your rights to additional information
You have the right to receive a copy of the full annual report, or any part thereof, on request. The items listed below are included in that report.
- An accountant's report
- Financial information and information on payments to service providers
- Assets held for investment
- Transactions in excess of 5% of plan assets
To obtain a copy of the full annual report, or any part thereof, write or call the office of ITPE Health and Welfare Fund, who is the plan administrator, Post Office Box 13817, Savannah, GA, 31416, 912-352-7169. These portions of the report are furnished without charge.
You also have the right to receive from the plan administrator, on request and at no charge, a statement of the assets and liabilities of the plan and accompanying notes, or a statement of income and expenses of the plan and accompanying notes, or both. If you request a copy of the full annual report from the plan administrator, these two statements and accompanying notes will be included as part of that report. The charge to cover copying costs given above does not include a charge for the copying of these portions of the report because these portions are furnished without charge.
You also have the legally protected right to examine the annual report at the main office of the plan:
ITPE Health and Welfare Fund
Post Office Box 13817
Savannah, GA 31416
and at the U.S. Department of Labor in Washington, D.C., or to obtain a copy from the U.S. Department of Labor upon payment of copying costs. Requests to the Department should be addressed to:
U.S. Department of Labor
Employee Benefits Security Administration
Public Disclosure Room
200 Constitution Avenue, NW, Room N-1513
Washington, DC 20210