Public Employee Press: PEP Talk
Annual Reports to fund membership
District Council 37, AFSCME
Annuity Fund Plan
This is a summary of the annual report of the financial condition and operations for the District Council 37 AFSCME Annuity Fund Plan, EIN 13-4081131, for the period July 1, 2019, through June 30, 2020. The Board of Trustees for the District Council 37 AFSCME Annuity Fund Plan 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 was $155,186,613 as of June 30, 2020, and $134,316,261 as of July 1, 2019. During the year, the plan had total income of $27,310,350, including employer contributions of $16,033,814, rollovers of $93,664, and investment income of $11,182,872.
Plan expenses were $6,439,998. These expenses included $1,073,090 in administrative expenses and $5,366,908 in benefits paid on behalf of participants and beneficiaries.
Your Rights to Additional Information
You 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 a statement of income and expenses of the trust and accompanying notes, or both.
As always, if you should have any questions, or require any additional information, please do not hesitate to contact the Fund office at 212.815.1234, or by writing to District Council 37 AFSCME Annuity Fund Plan, 55 Water St., 22nd Floor, New York, NY 10041.
Benefits Fund Trust
This is a summary of the annual report of the financial condition and operations for the District Council 37 Benefits Fund Trust, EIN 13-2988369, for the period July 1, 2019, through June 30, 2020.
Basic Financial Statement
The value of trust assets, after subtracting liabilities was $476,739,994 as of June 30, 2020, and $362,013,580 as of July 1, 2019. During the year, the trust had total income of $349,826,149, including employer contributions of $321,545,822, participant contributions of $286,540, and investment income of $27,993,787.
Trust expenditures were $235,099,735. These expenditures included $6,126,734 in administrative expenses and $228,973,001 in distributions to affiliated funds to finance benefits and operating expenses.
Your Rights to Additional Information
You have the right to receive from the trust administrator, on request and at no charge, a statement of the assets and liabilities of the plan and accompanying notes, or a statement of income and expenses of the trust and accompanying notes, or both.
As always, if you should have any questions, or require any additional information, please do not hesitate to contact the Fund office at 212.815.1234, or by writing to District Council 37 Benefits Fund Trust, 55 Water St., 23rd Floor, New York, NY 10041.
Education Fund
This is a summary of the annual report of the financial condition and operations for the District Council 37 Education Fund, EIN 13-2686582, for the period July 1, 2019, through June 30, 2020. The Board of Trustees for the District Council 37 Education Fund has committed itself to pay certain benefits under the terms of the Plan.
Basic Financial Statement
The plan is mainly funded by the District Council 37 Benefits Fund Trust equivalent to its net cost of operations each year. As a result, the value of plan assets, after subtracting liabilities, was $0 as of June 30, 2020, and July 1, 2019. During the plan year, the plan had total income of $7,675,856 consisting of allocations from District Council 37 Benefits Fund Trust.
Plan expenses were $7,675,856.These expenses included $1,030,154 in administrative expenses and $6,645,702 in educational benefits paid on behalf of participants.
Your Rights to Additional Information
You 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 a statement of income and expenses of the plan and accompanying notes, or both.
As always, if you should have any questions, or require any additional information, please do not hesitate to contact the Fund office at 212.815.1659, or by writing to District Council 37 Education Fund, 75 Broad St., 22nd Floor, New York, NY 10004.
Health & Security Plan Trust
This is a summary of the annual report of the financial condition and operations for the District Council 37 Health & Security Plan Trust, EIN 13-6209963, for the period July 1, 2019, through June 30, 2020. The Board of Trustees for the District Council 37 Health & Security Plan Trust has committed itself to pay certain claims incurred under the terms of the Plan.
Insurance Information
During the year, the plan had a contract with AETNA Life Insurance Company to pay certain prescription claims incurred under the terms of the plan. The total premiums paid, and included in benefits paid, for the plan year ended June 30, 2020, were $52,484,770.
Basic Financial Statement
The plan is mainly funded by the District Council 37 Benefits Fund Trust equivalent to its net cost of operations each year. As a result, the value of plan assets, after subtracting liabilities, was $0 as of June 30, 2020, and July 1, 2019. During the plan year, the plan had total income of $222,417,426, including allocations from District Council 37 Benefits Fund Trust of $221,303,645, Medicare Part “D” Subsidies of $1,053,213 and interest of $60,568.
Plan expenses were $222,417,426. These expenses included $17,845,063 in administrative expenses and $204,572,363 in benefits paid on behalf of participants and beneficiaries.
Your Rights to Additional Information
You 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 a statement of income and expenses of the plan and accompanying notes, or both.
As always, if you should have any questions, or require any additional information, please do not hesitate to contact the Fund office at 212.815.1234, or by writing to District Council 37 Health & Security Plan Trust, 55 Water St., 22 Floor, New York, NY 10041.
