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This is a summary of
the annual report of the LOCAL 30 MUNICIPAL RETIRED
EMPLOYEES TRUST FUND, EIN #13-2924188, Plan No. 501, for
the year ended December 31, 2001. The annual report
has been filed with the Internal Revenue Service, as
required under the Employee Retirement Income Security Act
of 1974 (ERISA).
The Board of Trustees Local
30 Municipal Retired Employees Trust Fund has committed
itself to pay certain claims incurred under the terms of the
Plan.
Basic
Financial Statement
The value of
plan assets, after subtracting liabilities of the plan, was $1,560,836
as of December 31, 2001, compared to $1,372,576 as of
December 31, 2000. During the plan year the plan
experienced an increase in its net assets of $188,260.
During the plan year, the plan had total income of $864,392
including employer contributions of $815,387,
employee contributions of $4,694 and earnings from
investments of $44,311.
Plan expenses
were $676,132. These expenses included $82,844
in administrative expenses and $593,288 in benefits
paid to participants and beneficiaries.
Your
Rights To Additional Information
You have the
right to receive a copy of the full annual report, or any
part thereof, on request. The items listed below are
included in that report:
| 1. an
accountant's report; |
| 2.
assets held for investment; and |
To obtain a copy of the full
annual report, or any part thereof, write the office of BOARD
OF TRUSTEES LOCAL 30 MUNICIPAL RETIRED EMPLOYEES TRUST FUND,
115-06 MYRTLE AVENUE, RICHMOND HILL, NEW YORK, 11418, (718)
847-6800. The charge to cover copying costs will
be 25 cents per page.
You also have the right to
receive from the plan administrator, on request and at no
charge, a statement of the assets and liabilities of the
plan and accompanying notes, or both. If you request a
copy of the full annual report from the plan administrator,
these two statements and accompanying notes will be included
as part of that report. The charge to cover copying
costs given above does not include a charge for the copying
of these portions of the report because these portions are
furnished without charge.
You also have the legally
protected right to examine the annual report at the main
office of the plan (115-06 Myrtle Avenue, Richmond hill, New
York 11418) and the U.S. Department of Labor in
Washington, D.C., or to obtain a copy from the U.S.
Department of Labor upon payment of copying costs.
Requests to the Department should be addressed to: Public
Disclosure Room, N-5638, Pension and Welfare Benefits
Administration, U.S. Department of Labor, 200 Constitution
Avenue, N.W. Washington, D.C. 20210.
EXHIBIT IV
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