OE News Special Edition June 2014
OE News Special Edition June 2014 OE News Special Edition June 2014
OPERATING ENGINEERS' BENEFITS PLANStatement of Net Assets Available for BenefitsDecember 31, 2013 and 2012Assets 2013 2012Current:Cash and savings $ 3,166,921 $ 5,270,356Accounts receivables 1,267,893 1,302,530Prepaid expenses - 1,099,8724,434,814 7,672,759Investments 33,612,457 29,820,649$ 38,047,271 $ 37,493,408LiabilitiesCurrent:Accounts payable and accrued liabilities $ 828,390 $ 1,043,502Contributions payable to other plans 129,440 109,746Due to Operating Engineers' Pension Plan 3,739,631 3,553,9524,697,460 4,707,200Reserve for members' future benefits 14,484,941 13,583,09819,040,102 18,290,298Members' ReservesAppropriated:Contingency reserve fund 300,000 300,000Unappropriated:Reserve for present and future benefits 18,564,869 18,903,10918,864,869 19,203,109$ 38,047,271 $ 37,493,408Approved on behalf of the Trustees:──────────────────────────────────────────────────────These summarized financial statements are not complete and do not contain all of the disclosuresrequired under Canadian generally accepted accounting principles. A complete set of financialstatements, and notes thereto, are available upon request from the Operating Engineers Local 115Benefits Plan Administrator.30 News Special Edition Fall 2014
OPERATING ENGINEERS' BENEFITS PLANStatement of Changes in Net Assets Available for BenefitsFor the Year Ended December 31, 2013 and 2012% 2013 % 2012Receipts:Contributions 100.0 $ 18,437,103 100.0 $ 17,210,628Members' Benefits:Accidental death and dismemberment insurance 0.7 128,090 0.4 76,451Dental 25.5 4,706,772 26.9 4,628,679Extended health and member family assistance 32.9 6,058,651 27.3 4,702,010Life insurance 7.0 1,288,851 4.9 844,963Long-term disability 7.0 1,297,364 0.8 132,259Medical premiums 33.3 6,139,639 33.8 5,820,815Weekly disability 6.0 1,098,885 4.6 800,105112.4 20,718,252 98.8 17,005,281Increase (decrease) in reserve for members' futurebenefits4.9 901,843 (27.7) (4,766,087)117.3 21,620,095 71.1 12,239,195Gross funds available (17.3) (3,182,992) 28.9 4,971,434Administrative expenses, per Schedule "1" 5.1 942,128 5.7 987,513Excess (deficiency) of receipts over disbursementsbefore investment income(9.8) (4,125,120) 23.1 3,983,921Investment income 8.0 1,468,892 9.0 1,550,776Other income 12.6 2,317,989 - -Excess (deficiency) of receipts over disbursements (1.8) 2,317,989 34.9 5,534,697Reserve for present and future benefits, beginning 18,903,109 13,368,413Reserve for present and future benefits, ending $ 18,564,869 $ 18,903,109These summarized financial statements are not complete and do not contain all of the disclosuresrequired under Canadian generally accepted accounting principles. A complete set of financialstatements, and notes thereto, are available upon request from the Operating Engineers Local 115Benefits Plan Administrator.Special Edition Fall 2014 News 31
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OPERATING ENGINEERS' BENEFITS PLANStatement of Net Assets Available for BenefitsDecember 31, 2013 and 2012Assets 2013 2012Current:Cash and savings $ 3,166,921 $ 5,270,356Accounts receivables 1,267,893 1,302,530Prepaid expenses - 1,099,8724,434,814 7,672,759Investments 33,612,457 29,820,649$ 38,047,271 $ 37,493,408LiabilitiesCurrent:Accounts payable and accrued liabilities $ 828,390 $ 1,043,502Contributions payable to other plans 129,440 109,746Due to Operating Engineers' Pension Plan 3,739,631 3,553,9524,697,460 4,707,200Reserve for members' future benefits 14,484,941 13,583,09819,040,102 18,290,298Members' ReservesAppropriated:Contingency reserve fund 300,000 300,000Unappropriated:Reserve for present and future benefits 18,564,869 18,903,10918,864,869 19,203,109$ 38,047,271 $ 37,493,408Approved on behalf of the Trustees:──────────────────────────────────────────────────────These summarized financial statements are not complete and do not contain all of the disclosuresrequired under Canadian generally accepted accounting principles. A complete set of financialstatements, and notes thereto, are available upon request from the Operating Engineers Local 115Benefits Plan Administrator.30 <strong>News</strong> <strong>Special</strong> <strong>Edition</strong> Fall <strong>2014</strong>
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