Buck said:
From Form 5500 the Annual Return/Report of the Employee Benefit Plan 2014 ( IAMPF )
Current value of assets: Total 268,189 participants, and the current liability: $18,513,028,309
For a percentage of: 56.7800%
Could someone explain these numbers?
That is easy Buck, first you take current value of assets and times it by. .95
That gives you the adjusted current value of assets (but from this point on we
shall just call it the Current Value of Assets)
Then you subtract uncle Bo----- err let me start over, Then you subtract
7% for the brokers fee.
Now take the amount of participants and multiply times 50, that Buck is the Morale
and Welfare fund that each year our plan participants graciously donate so our
overworked staff can let their hair down once a month or so. Subtract that amount
from the above value.
Use the given multiplier, times it by the number of participants . Multiply it times the total years
of service .
That number should equal the Current Value Of Assets (minus the broker & morale fee)
and of course it goes without saying the 5% originally subtracted is not discussed.
If it does not match ( and of course it never will) subtract the figure you got using the
Multiplier in this case it is 56% of the current assets .
Ok Buck this is the fun part , lower the given multiplier by 44% and that equals a
Plan Funding Of 102%
Wasn't that easy