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356-359

23. Specify according to the. vllowing cor zories the average age of participants who left the scope of

the Plan without entitlement to retirement benefits:

A. Within the past 5 years with more than 15 years service under the Plan

B. Within the past 5 years with more than 10 years service under the Plan.....

C. Within the past 5 years with more than 5 years service under the Plan......

Information

not Anatolle

24.

A. Indicate the average monthly benefit paid to retirees 5 years ago. (1) Normal

(2) Early

(3) Disability

B. Indicate the average monthly benefit paid to retirees within the last year. (1) Normal

(2) Early

(3) Disability

20, 075282

(Cost)

(Market)

Part IV. Funding Status Data 25. Specify the following (give the latest figures) :

A. Total assets of Plan (at cost, book, and market value) :
(1)
(2)

(3)

075, 282 (4) 12-31-68 (Book)

(Date of laten aatioa) B. Total liabilities for all accrued vested benefits (include benefits vested

under vesting, early retirement, disability retirement and normal re

tirement provisions, and give present dollar value).. No vesting C. Total value of all accrued benefits, treating all such benefits as if they were vested (give present dollar value)...

154.4704 12-32-60

(Date of latest evaluation)

(Date of latest evaluation)

26.

A. Provide a concise description of the actuarial methods, factors and assumptions used in deter

mining contributions or premium payments under the Plan (indicating specifically the assumption used with respect to the rate of employee termination for reasons other than death, disability, or retirement).

a. 1949 tode Vitorit

,

zionatolien
Vlooiezen Bu prin experience

Sotra, scale By prior erstnerce
Inflation 40, compounded an
Retirement age - 50% noteic at

age
atrop. 65
Social Security & 1949 legishton mand for determination,

60 and 5090

PRIVATE WELFARE AND PENSION PLAN STUDY, 1971

HEARINGS

BEFORE THE

SUBCOMMITTEE ON LABOR

OF THE

COMMITTEE ON

LABOR AND PUBLIC WELFARE

UNITED STATES SENATE

NINETY-SECOND CONGRESS

FIRST SESSION

ON

EXAMINATION OF PRIVATE WELFARE AND PENSION PLANS

(PURSUANT TO S. RES. 35, SECTION 4)

JULY 27, 28, AND 29, 1971

PART 1

Printed for the use of the Committee on Labor and Public Welfare

U.S. GOVERNMENT PRINTING OFFICE

66-500 0

WASHINGTON : 1971

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WEDNESDAY, JULY 28, 1971
Kwek, Mrs. Iris, resident, Detroit, Mich., employee, Anaconda Co---
Lengyel, Robert, accompanied by Rhea Johnson and Alfred St. Germain,

radio officers, American Radio Association, AFL-CIO---
Strichartz, Morris Harvey, trustee, pension plan, American Radio Asso-

ciation

Blair, Williain, accompanied by Samuel Frederick, former employees of

Ingram-Richardson Manufacturing Co---

Pasternak, Harry J., attorney, Park Electrochemical Corp., accompanied

by Jerry Shore, chairman of the board, Park Electrochemical Corp----

Russ, Mr. and Mrs. Bernard, residents, Wantagh, Long Island, N.Y.,

former employees of Columbia Gas System Service Corp---

Gojmerac, John, accompanied by Joseph Wojnarowski, former employees

of Haws Refractories Co., Johnstown, Pa---

Blair, William, accompanied by Samuel Frederick, former employees of Page
Ingram-Richardson Manufacturing Co------

309

Duane, Stephen H., resident, Jersey City, N.J.

118

Fellers, William W., FSA actuary, Wyatt Co., accompanied by C. William

Tayler, Washington counsel, Michigan Tool Co---

172

Finkelstein, Murray, resident, Rego Park, N.Y., meinber, Retail Shoe Em-

ployees' Union, Local 1268.

179

Fox, Lester, resident, South Bend, Ind., former employee of Studebaker
Worthington Corp----

208
Gojmerac, John, accompanied by Joseph Wojnarowski, former employees
of Haws Refractories Co., Johnstown, Pa.-

337

Hoddick, Frank, resident, Fountain Valley, Calif., and former employee,

Michigan Bell Telephone Co.----

190

Javits, Hon. Jacob K., a U.S. Senator from the State of New York.---

11
Prepared statement before the House General Subcommittee on
Labor, Apr. 28, 1971..

86
Kwek, Mrs. Iris, resident, Detroit, Mich., employee, Anaconda Co---

234
Lengyel, Robert, accompanied by Rhea Johnson and Alfred St. Germain,
radio officers, American Radio Association, AFI-CIO--

278
Supplemental statements..

286, 288

McCarthy, Edmund, resident, New York, N.Y., and former employee, Mal-

linckrodt Chemical Works_-.

201

Nichols, Guy H., resident, Cincinnati, Ohio, mechanical engineer---

217

Pasternak, Harry J., attorney, Park Electrochemical Corp., accompanied

by Jerry Shore, chairman of the board, Park Electrochemical Corp---- 321

Randolph, Hon. Jennings, a U.S. Senator from the State of West Virginia -- 162

Roby, R. K., resident, Latrobe, Pa., former employee, American Cyanamid

Co

227

Russ, Mr. and Mrs. Bernard, residents, Wantagh, Long Island, N.Y.,
former employees of Columbia Gas System Service Corp----

333
Sawyer, John, resident, Fort Lauderdale, Fla., former employee, Univer-
sal Cyclops Steel Corp-

211
Silver, George J., resident, Sterling Heights, Mich., accompanied by Earl

Machleit, of St. Clair Shores, Mich., former employees of the Michigan
Tool Co----

159
Sorenson, Allen H., resident, Bountiful, Utah, former employee of S. H.
Kress & Co.----

343
Strichartz, Morris Harvey, trustee, pension plan, American Radio Asso-
ciation

286
Supplemental statement, with enclosures--

294

ADDITIONAL INFORMATION

254

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