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New England Teamsters Pension Fund: More Bad News
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<blockquote data-quote="JonFrum" data-source="post: 374369"><p>The New England Teamsters And Trucking Industry Pension Fund has just posted it's Form-5500 Annual Financial Report on its website:</p><p><a href="http://www.nettipf.com/" target="_blank">http://www.nettipf.com/</a></p><p></p><p>There are three reports available. They aren't the fullest versions, but they are free:</p><p><a href="http://www.nettipf.com/plandocs.htm" target="_blank">http://www.nettipf.com/plandocs.htm</a></p><p></p><p>The most recent report is for the year ending 9/30/2007:</p><p><a href="http://www.nettipf.com/pdf_files/FORM-5500-9-30-2007.PDF" target="_blank">http://www.nettipf.com/pdf_files/FORM-5500-9-30-2007.PDF</a></p><p>[918kb, PDF file, 45 pages]</p><p></p><p>Note that the Fund has 76,085 participants (including retirees, their surviving spouses, and future retirees not yet collecting benefits); only about a third of which (25,940) are Active Employees with contributions coming into the fund on their behalf.</p><p></p><p>The Fund only has $45.73 currently on hand to pay for every $100 of present and future retirement benefits. This funding ratio (45.73%) is down from previous years' funding ratios of 46.46%, 46.76%, 49.32%, 47.96%, and 51.12%. Healthy funds are at least 80% funded, preferably 100%. </p><p></p><p>The 45.73% Funding Ratio is actually calculated as of Oct. 1, 2006, so things may have worsened since then with the trouble in the stock and real estate markets.</p></blockquote><p></p>
[QUOTE="JonFrum, post: 374369"] The New England Teamsters And Trucking Industry Pension Fund has just posted it's Form-5500 Annual Financial Report on its website: [url]http://www.nettipf.com/[/url] There are three reports available. They aren't the fullest versions, but they are free: [url]http://www.nettipf.com/plandocs.htm[/url] The most recent report is for the year ending 9/30/2007: [url]http://www.nettipf.com/pdf_files/FORM-5500-9-30-2007.PDF[/url] [918kb, PDF file, 45 pages] Note that the Fund has 76,085 participants (including retirees, their surviving spouses, and future retirees not yet collecting benefits); only about a third of which (25,940) are Active Employees with contributions coming into the fund on their behalf. The Fund only has $45.73 currently on hand to pay for every $100 of present and future retirement benefits. This funding ratio (45.73%) is down from previous years' funding ratios of 46.46%, 46.76%, 49.32%, 47.96%, and 51.12%. Healthy funds are at least 80% funded, preferably 100%. The 45.73% Funding Ratio is actually calculated as of Oct. 1, 2006, so things may have worsened since then with the trouble in the stock and real estate markets. [/QUOTE]
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