OE News Special Edition June 2014

OPERATING ENGINEERS’ PENSION PLANStatement of Changes in Net Assets Available for BenefitsFor the Year Ended April 30, 2013 and 20122013 2012────────────────────────────────────────────────────────────Increase in Book Value of Assets:Contributions $ 36,780,111 $ 35,479,577Cooperative housing income 176,094 176,094Dividends, gains on sale of securities, and interest -Investments managed under contract) 95,218,984 52,871,856Other 285,931 267,742Real estate income 5,722,586 5,437,390────────────────────────────────────────────────────────────138,183,706 94,232,659────────────────────────────────────────────────────────────Decrease in Book Value of Assets:Benefit Payments -Cash terminations 7,668,853 4,774,039Death 438,417 228,634Pension 41,778,716 40,215,596────────────────────────────────────────────────────────────49,885,986 45,218,269────────────────────────────────────────────────────────────Expenses -Administrative (Appendix A) 900,340 1,141,079Investments managed under contract 975,524 935,138Other (11,639) 1,450────────────────────────────────────────────────────────────1,864,225 2,077,666────────────────────────────────────────────────────────────Increase in book value of assets 86,433,494 46,936,724Assigned and fair value adjustment(Decrease) increase in fair value adjustment (32,491,789) 83,946,740(Decrease) increase in assigned value adjustment (9,809,101) 37,912,468────────────────────────────────────────────────────────────(42,300,890) 121,859,208Increase in Net Assets available for benefits 44,132,605 168,795,931Net Assets Available for Benefits, beginning 1,013,752,735 844,956,804────────────────────────────────────────────────────────────Net Assets Available for Benefits, ending $1,057,885,340 $1,013,752,735════════════════════════════════════════════════════════════These summarized financial statements are not complete and do not contain all of thedisclosures required under Canadian generally accepted accounting principles. A complete setof financial statements, and notes thereto, are available upon request from the OperatingEngineers Local 115 Pension Plan Administrator3Special Edition Fall 2014 News 21