IBEW LOCAL 332 Pension Trust Financial Information

Subject for this week:
IBEW LOCAL 332 Pension Trust financial report for 2009 Received 8-31-2011

$ 25,996,310 Total Benefit Payments

$ 306,671 Professional fees

$ 115,446 Contract administrator fees

$ 1,157,464 Investment advisory and management fees

$ 91,562 Legal fees

$ 16,174 Collections

$ 25,830 Auditing and accounting

$ 24,420 Plan Consultant

$ 70,414 Investing advisor

$ 72,000 Actuary

$ 950 Claims review

$ 90,858 Insurance

$ 34,189 Printing and Postage

$ 1,551 Dues and Subscriptions

$ 23,430 Educational Seminars and meetings

$ 27,515 Web Usage

$ 2,716 Miscellaneous expense.

$ 30,484,387 Increase in net Assets

$ 339,704,368 Net Assets Available for Benefits


Interesting Stock Holdings (out of many stocks held)

KBR Inc,

Aegean Marine Petroleum Network,

Government Bonds; U.S., Korea, Brazil

Hyundai Auto Receivables,

Nissan Auto Receivables

Rogers Cable Inc, Canada.

Valero Energy Corp

Halliburton Company Com.

B.P. PLC

I’m not too proud of owning some of these companies. But, I'm sure they are in my index fund.


The Trustees like to site the fund trust agreement when confronted with a problem. They seem to have forgotten that they have accepted all of the ERISA statutes into the trust.

See Page 2 of Trust

“Whereas, it is desired to establish and maintain a Trust Fund, which will conform to the applicable requirements of the Labor-Management Relations Act of 1947, as amended, the Employee Retirement Income Security Act of 1974, and any other applicable federal or state law, and comply with the conditions for qualification, exemption and full deductibility for state and federal income tax purposes under the pertinent provisions of the Internal Revenue Code, and corresponding provisions of California law, as either of the above may be amended from time to time.”


Comment: When they told the judge there was no provision for my complaint in the Plan: they forgot that ERISA is part of the plan. 29USC sec 1132(a)

"Never slap a man who's chewing tobacco" Will Rogers

Happy Trails