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UPS Retirement Topics
Has IBT/CS been a wise steward of our pension?
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<blockquote data-quote="my2cents" data-source="post: 53026"><p>Wily, </p><p> </p><p>Contact your fund to see if they provide actuarial valuation reports. Usually, these reports are constructed once every 2 years by an independent actuary. I realize in the case of Central States, one probably won't receive anything like this and instead will have to rely on Form 5500 filings from the DOL. Chances are if no actuarial report is available to participants, the fund should at least send you a copy of the latest Form 5500 filing. </p><p> </p><p>Basically, the funding ratio is the pension assets divided by the termination benefits. One should be able to find these two figures in the Form 5500 filing's attached financial statements. To find assets, look for an entry that says something like "Net Assets Available for Benefits." On the liability side, look for something like "Actuarial Present Value of Accumulated Plan Benefits." Once these two figures are found, its a simple matter of division to get the ratio.</p></blockquote><p></p>
[QUOTE="my2cents, post: 53026"] Wily, Contact your fund to see if they provide actuarial valuation reports. Usually, these reports are constructed once every 2 years by an independent actuary. I realize in the case of Central States, one probably won't receive anything like this and instead will have to rely on Form 5500 filings from the DOL. Chances are if no actuarial report is available to participants, the fund should at least send you a copy of the latest Form 5500 filing. Basically, the funding ratio is the pension assets divided by the termination benefits. One should be able to find these two figures in the Form 5500 filing's attached financial statements. To find assets, look for an entry that says something like "Net Assets Available for Benefits." On the liability side, look for something like "Actuarial Present Value of Accumulated Plan Benefits." Once these two figures are found, its a simple matter of division to get the ratio. [/QUOTE]
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Has IBT/CS been a wise steward of our pension?
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