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UPS Union Issues
Another example of Central States mismanagement
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<blockquote data-quote="JonFrum" data-source="post: 215061"><p><strong>Ingredients: Sugar, Salt, H2O, MSG, Red Dye #7, Polysorbate 80 . . .</strong></p><p></p><p></p><p></p><p>Engineer 79,</p><p>This page has links to the last twelve years of blank Form 5500s and Instructions. Dowload whatever year you want and read the instructions for the Line Items you are interested in. . . .</p><p><a href="http://www.dol.gov/ebsa/5500main.html" target="_blank">http://www.dol.gov/ebsa/5500main.html</a></p><p></p><p>For example, the 64-page 2006 Form 5500 Instructions in Adobe PDF format is here. . . .</p><p><a href="http://www.dol.gov/ebsa/pdf/2006-5500inst.pdf" target="_blank">http://www.dol.gov/ebsa/pdf/2006-5500inst.pdf</a></p><p></p><p>Schedule H Line 2i(4) "Other" expenses are listed on page 42 (quoted below). . . .</p><p></p><p>Instructions for Schedule H (Form 5500):</p><p></p><p>"Line 2i. Report all administrative expenses (by specified category) paid by or charged to the plan, including those that were not subtracted from the gross income of CCTs, PSAs, MTIAs, and 103-12 IEs in determining their net investment gain(s) or loss(es). Expenses incurred in the general operations of the plan are classified as administrative expenses.</p><p></p><p>Line 2i(1). Include the total fees paid (or in the case of accrual basis plans costs incurred during the plan year but not paid as of the end of the plan year) by the plan for outside accounting, actuarial, legal, and valuation/appraisal services. Include fees for the annual audit of the plan by an independent qualified public accountant; for payroll audits; for accounting/ bookkeeping services; for actuarial services rendered to the plan, and to a lawyer for rendering legal opinions, litigation, and advice (but not for providing legal services as a benefit to plan participants). Include the fee(s) for valuations or appraisals to determine the cost, quality, or value of an item such as real property, personal property (gemstones, coins, etc.), and for valuations of closely held securities for which there is no ready market. Do not include amounts paid to plan employees to perform bookkeeping/accounting functions that should be included in 2i(4).</p><p></p><p>Line 2i(2). Enter the total fees paid (or in the case of accrual basis plans, costs incurred during the plan year but not paid as of the end of the plan year) to a contract administrator for performing administrative services for the plan. For purposes of the return/report, a contract administrator is any individual, partnership or corporation, responsible for managing the clerical operations (e.g., handling membership rosters, claims payments, maintaining books and records) of the plan on a contractual basis. Do not include salaried staff or employees of the plan or banks or insurance carriers.</p><p></p><p>Line 2i(3). Enter the total fees paid (or in the case of accrual basis plans, costs incurred during the plan year but not paid as of the end of the plan year) to an individual, partnership or corporation (or other person) for advice to the plan relating to its investment portfolio. These may include fees paid to manage the plan’s investments, fees for specific advice on a particular investment, and fees for the evaluation of the plan’s investment performance.</p><p></p><p>Line 2i(4). Other expenses are those that cannot be included in 2i(1) through 2i(3). These may include plan expenditures such as salaries and other compensation and allowances (e.g., payment of premiums to provide health insurance benefits to plan employees), expenses for office supplies and equipment, cars, telephone, postage, rent, expenses associated with the ownership of a building used in the operation of the plan, all miscellaneous expenses and trustees’ fees and reimbursement of expenses associated with trustees such as lost time, seminars, travel, meetings, etc."</p></blockquote><p></p>
[QUOTE="JonFrum, post: 215061"] [b]Ingredients: Sugar, Salt, H2O, MSG, Red Dye #7, Polysorbate 80 . . .[/b] Engineer 79, This page has links to the last twelve years of blank Form 5500s and Instructions. Dowload whatever year you want and read the instructions for the Line Items you are interested in. . . . [url]http://www.dol.gov/ebsa/5500main.html[/url] For example, the 64-page 2006 Form 5500 Instructions in Adobe PDF format is here. . . . [url]http://www.dol.gov/ebsa/pdf/2006-5500inst.pdf[/url] Schedule H Line 2i(4) "Other" expenses are listed on page 42 (quoted below). . . . Instructions for Schedule H (Form 5500): "Line 2i. Report all administrative expenses (by specified category) paid by or charged to the plan, including those that were not subtracted from the gross income of CCTs, PSAs, MTIAs, and 103-12 IEs in determining their net investment gain(s) or loss(es). Expenses incurred in the general operations of the plan are classified as administrative expenses. Line 2i(1). Include the total fees paid (or in the case of accrual basis plans costs incurred during the plan year but not paid as of the end of the plan year) by the plan for outside accounting, actuarial, legal, and valuation/appraisal services. Include fees for the annual audit of the plan by an independent qualified public accountant; for payroll audits; for accounting/ bookkeeping services; for actuarial services rendered to the plan, and to a lawyer for rendering legal opinions, litigation, and advice (but not for providing legal services as a benefit to plan participants). Include the fee(s) for valuations or appraisals to determine the cost, quality, or value of an item such as real property, personal property (gemstones, coins, etc.), and for valuations of closely held securities for which there is no ready market. Do not include amounts paid to plan employees to perform bookkeeping/accounting functions that should be included in 2i(4). Line 2i(2). Enter the total fees paid (or in the case of accrual basis plans, costs incurred during the plan year but not paid as of the end of the plan year) to a contract administrator for performing administrative services for the plan. For purposes of the return/report, a contract administrator is any individual, partnership or corporation, responsible for managing the clerical operations (e.g., handling membership rosters, claims payments, maintaining books and records) of the plan on a contractual basis. Do not include salaried staff or employees of the plan or banks or insurance carriers. Line 2i(3). Enter the total fees paid (or in the case of accrual basis plans, costs incurred during the plan year but not paid as of the end of the plan year) to an individual, partnership or corporation (or other person) for advice to the plan relating to its investment portfolio. These may include fees paid to manage the plan’s investments, fees for specific advice on a particular investment, and fees for the evaluation of the plan’s investment performance. Line 2i(4). Other expenses are those that cannot be included in 2i(1) through 2i(3). These may include plan expenditures such as salaries and other compensation and allowances (e.g., payment of premiums to provide health insurance benefits to plan employees), expenses for office supplies and equipment, cars, telephone, postage, rent, expenses associated with the ownership of a building used in the operation of the plan, all miscellaneous expenses and trustees’ fees and reimbursement of expenses associated with trustees such as lost time, seminars, travel, meetings, etc." [/QUOTE]
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