SUMMARY ANNUAL REPORT FORNORTHERN CALIFORNIA CONSTRUCTION TRUST
DEFINED BENEFIT PENSION PLAN FOR THE PLAN YEAR JULY 1, 1998 TO JUNE 30, 1999 This is a summary of the annual report of the Northern California Construction Trust Defined Benefit Pension Plan, E.I.N. 94-1234567. The
annual report has been filed with the Internal Revenue Service, as required under the Employee Retirement income Security Act of 1974 (ERISA).
Benefits under the plan are provided through a group annuity contract. Plan expenses were $2,014,554. These expenses included $197,302 in
administrative expenses and $1,897,252 in benefits paid to participants and beneficiaries. A total of 1000 persons were participants of the plan at
the end of the plan year, although not all of these persons had yet earned the right to receive benefits. The value of plan assets, after subtracting liabilities of the plan, was
$41,467,292 as of June 30, 1999, compared to $46,031,427 as of July 1, 1998. During the plan year the plan experienced an increase in its net
assets of $5,154,865. This increase included unrealized appreciation and 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 price the plan originally paid for these assets. During the plan year, the plan had total income of $3,014,015, and other income of $11,414. An actuary's statement sows that enough money was contributed to the plan to keep it funded in accordance with the minimum funding standards of ERISA.
1. An accountant's report; 2. Assets held for investment; 3. Insurance information including sales commissions paid by insurance carriers; and,
4. Actuarial information regarding the funding of the plan.
To obtain a copy of the full annual report, or any part thereof, write or call the Plan Administrator at the office of Plan Administrators, 1234 Market
Street, San Francisco, CA 00000, (999) 999-9999. The charge to cover copying costs will be $.25 per page for any part thereof.
You also have the right to receive from the Plan Administrator, on request and at no charge, a statement of assets available for benefits and
accompanying notes, or a statement of changes in net assets available for benefits 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 Administrator shown above, 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 Public Disclosure Room N5507, Pension and Welfare Benefit Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C., 20210. |
