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| Title: | The Digital way of working |
|
| Moderator: | QUARK::LIONEL ON |
|
| Created: | Fri Feb 14 1986 |
| Last Modified: | Fri Jun 06 1997 |
| Last Successful Update: | Fri Jun 06 1997 |
| Number of topics: | 5321 |
| Total number of notes: | 139771 |
4657.0. "Pension & SAVE earned $341M last year" by DIODE::CROWELL (Jon Crowell) Wed Jun 12 1996 17:03
Pension and SAVE plans earned $341M this past year.
WOW... These plans outperformed DEC as a company of the
9 months till Q3...
Jon
From: SHRMTS::SHRMTS::MRGATE::"SALES::A1::USBENFITS" 12-JUN-1996 14:21:18.91
To: @Distribution_List
Subj: 1996 Summary Annual Reports of Your Benefit Plan 1
From: NAME: U S Benefits
FUNC: U.S. Personnel <USBENFITS@A1@SALES@AKO>
To: See Below
Digital Equipment Corporation is required by law to send the attached
financial information about its benefit plans to all plan
participants. Receipt of these reports does not indicate or guarantee
participation in a particular plan.
SUMMARY ANNUAL REPORT
FOR DIGITAL EQUIPMENT CORPORATION PENSION PLAN
This is a summary of the annual report for the Digital Equipment
Corporation Pension Plan, EIN 04-2226590, Plan Number 001, for the
period July 1, 1994 through June 30, 1995. The annual report has been
filed with the Internal Revenue Service, as required under the
Employee Retirement Income Security Act of 1974 (ERISA).
Basic Financial Statement
Benefits under the plan are provided through a trust fund. Plan
expenses were $41,301,430. These expenses included $41,301,430 in
benefits paid to participants and beneficiaries. A total of 66,077
persons were participants in or beneficiaries of the plan at the end
of the plan year, although not all of these persons had yet earned the
right to receive benefits.
The value of plan assets, after subtracting liabilities of the plan,
was $1,649,927,474 as of June 30, 1995, compared to $1,419,155,644 as
of July 1, 1994. During the plan year the plan experienced an
increase in its net assets of $230,771,830. This increase includes
unrealized appreciation or depreciation in the value of plan assets;
that is, the difference between the value of the plan's assets at the
end of the year and the value of the assets at the beginning of the
year or the cost of assets acquired during the year. The plan had
total income of $272,073,260 including earnings from investments of
$272,073,260.
Minimum Funding Standards
An actuary's statement shows that enough money was contributed to the
plan to keep it funded in accordance with the minimum funding
standards of ERISA.
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; and
2. actuarial information regarding the funding of the plan
---------------------------------------------------------------------
SUMMARY ANNUAL REPORT
FOR DIGITAL EQUIPMENT CORPORATION SAVINGS & INVESTMENT PLAN
This is a summary of the annual report for the Digital Equipment
Corporation Savings & Investment Plan, EIN 04-2226590, Plan Number
003, for the period July 1, 1994 through June 30, 1995. The annual
report has been filed with the Internal Revenue Service, as required
under the Employee Retirement Income Security Act of 1974 (ERISA).
Basic Financial Statement
Benefits under the plan are provided through a trust fund and
insurance. Plan expenses were $147,584,345. These expenses included
$147,584,345 in benefits paid to participants and beneficiaries. A
total of $39,116 persons were participants in or beneficiaries of the
plan at the end of the plan year.
The value of plan assets, after subtracting liabilities of the plan,
was $847,394,639 as of June 30, 1995, compared to $813,954,706 as of
July 1, 1994. During the plan year the plan experienced an increase
in its net assets of $33,439,9333. This increase includes unrealized
appreciation or depreciation in the value of plan assets; that is, the
difference between the value of the plan's assets at the end of the
year and the value of the assets at the beginning of the year or the
cost of assets acquired during the year. The plan had total income of
$181,024,278 including employee contributions of $92,540,403 and
earnings from investments of $69,296,823.
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;
3. transactions in excess of 5% of plan assets; and
4. insurance information, including sales commissions paid by
insurance carriers.
---------------------------------------------------------------------
SUMMARY ANNUAL REPORT
FOR BASIC, OPTIONAL & DEPENDENT LIFE
INSURANCE AND ACCIDENTAL DEATH & DISMEMBERMENT
This is a summary of the annual report of the Basic, Optional &
Dependent Life Insurance and Accidental Death & Dismemberment Plan,
EIN 04-2226590, Plan Number 501, for the period July 1, 1994 through
June 30, 1995. The annual report has been filed with the Internal
Revenue Service, as required under the Employee Retirement Income
Security Act of 1974 (ERISA).
Insurance Information
The plan has contracts with Connecticut General Life Insurance Co. and
Life Insurance Company of North America to pay claims incurred under
the terms of the plan. The total premiums paid for the plan year
ending June 30, 1995 were $17,031,508.
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 item listed below is included in that
report:
1. insurance information, including sales commissions paid by
insurance carriers.
---------------------------------------------------------------------
SUMMARY ANNUAL REPORT
FOR DIGITAL EQUIPMENT CORPORATION
DISABILITY INCOME PROTECTION PLAN
This is a summary of the annual report of the Digital Equipment
Corporation Disability Income Protection Plan, EIN 04-2226590, Plan
Number 502, for the period July 1, 1994 through June 30, 1995. The
annual report has been filed with the Internal Revenue Service, as
required under the Employee Retirement Income Security Act of 1974
(ERISA).
Insurance Information
The plan has a contract with First UNUM Life Insurance Company to pay
certain claims incurred under the terms of the plan. The total
premiums paid for the plan year ending June 30, 1995 were $95,758.
Basic Financial Statement
The value of plan assets, after subtracting liabilities of the plan,
was $(42,277,796) as of June 30, 1995, compared to $(17,845,798) as of
July 1, 1994. During the plan year the plan experienced a decrease in
its net assets of $24,431,998. This decrease includes unrealized
appreciation or depreciation in the value of plan assets; that is, the
difference between the value of the plan's assets at the end of the
year and the value of the assets at the beginning of the year or the
cost of assets acquired during the year. During the plan year, the
plan had total income of $671,382 including earnings from investments
of $671,382.
Plan expenses were $25,103,020. These expenses included $514,951 in
administrative expenses and $24,588,069 in benefits paid to
participants.
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;
3. transactions in excess of 5% of plan assets; and
4. insurance information, including sales commissions paid by
insurance carriers.
---------------------------------------------------------------------
SUMMARY ANNUAL REPORT
FOR BUSINESS TRAVEL ACCIDENT PLAN
This is a summary of the annual report of the Business Travel Accident
Plan, EIN 04-2226590, Plan Number 504, for the period July 1, 1994
through June 30, 1995. The annual report has been filed with the
Internal Revenue Service, as required under the Employee Retirement
Income Security Act of 1974 (ERISA).
Insurance Information
The plan has a contract with Life Insurance Company of North America
to pay claims incurred under the terms of the plan. The total
premiums paid for the plan year ending June 30, 1995 were $429,539.
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 item listed below is included in that
report:
1. insurance information, including sales commissions paid by
insurance carriers.
---------------------------------------------------------------------
SUMMARY ANNUAL REPORT
FOR LONG-TERM DISABILITY PLAN
This is a summary of the annual report of the Long-Term Disability
Plan, EIN 04-2226590, Plan Number 505, for the period July 1, 1994
through June 30, 1995. The annual report has been filed with the
Internal Revenue Service, as required under the Employee Retirement
Income Security Act of 1974 (ERISA).
Basic Financial Statement
The value of plan assets, after subtracting liabilities of the plan,
was $(8,327,618) as of June 30, 1995, compared to $(9,087,588) as of
July 1, 1994. During the plan year the plan experienced an increase
in its net assets of $759,970. This increase includes unrealized
appreciation or depreciation in the value of plan assets; that is, the
difference between the value of the plan's assets at the end of the
year and the value of the assets at the beginning of the year or the
cost of assets acquired during the year. During the plan year, the
plan had total income of $124,719 including earnings from investments
of $124,719.
Plan expenses were $(635,251). These expenses included $67,041 in
administrative expenses and $(702,292) 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
3. transactions in excess of 5% of plan assets.
-------------------------------------------------------------------
SUMMARY ANNUAL REPORT
FOR MEDICAL, RETIREE MEDICAL, & DENTAL ASSISTANCE PLANS
This is a summary of the annual report of the Medical, Retiree
Medical, & Dental Assistance Plans, EIN 04-2226590, Plan Number 506,
for the period July 1, 1994 through June 30, 1995. The annual report
has been filed with the Internal Revenue Service, as required under
the Employee Retirement Income Security Act of 1974 (ERISA).
Insurance Information
The plan has 125 contracts with health maintenance organizations
(HMOs) to pay certain medical and dental claims incurred under the
terms of the plan. The total premiums paid for the plan year ending
June 30, 1995, were $139,052,601.
Basic Financial Statement
The value of plan assets, after subtracting liabilities of the plan,
was $0 as of June 30, 1995, compared to $0 as of July 1, 1994. During
the plan year the plan experienced an increase in its net assets of
$0. This increase includes unrealized appreciation or depreciation in
the value of plan assets; that is, the difference between the value of
the plan's assets at the end of the year and the value of the assets
at the beginning of the year or the cost of assets acquired during the
year. During the plan year, the plan had total income of $214,018,965
including employer contributions of $164,438,700, employee
contributions of $49,035,333, and earnings from investments of
$544,932.
Plan expenses were $214,018,965. These expenses included $97,248 in
administrative expenses and $213,921,717 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;
3. transactions in excess of 5% of plan assets; and
4. insurance information, including sales commissions paid by
insurance carriers.
---------------------------------------------------------------------
SUMMARY ANNUAL REPORT
FOR CAFETERIA PLAN
This is a summary of the annual report for the Cafeteria Plan, EIN
04-2226590, Plan Number 508, for the period July 1, 1994 through June
30, 1995. The annual report has been filed with the Internal Revenue
Service, as required under the Employee Retirement Income Security Act
of 1974 (ERISA).
Basic Financial Statement
Plan expenses were paid out of the Company's general assets.
----------------------------------------------------------------------
SUMMARY ANNUAL REPORT
FOR EDUCATIONAL ASSISTANCE PROGRAM
This is a summary of the annual report for the Educational Assistance
Program, EIN 04-2226590, Plan Number 509, for the period July 1, 1994
through June 30, 1995. The annual report has been filed with the
Internal Revenue Service, as required under the Employee Retirement
Income Security Act of 1974 (ERISA).
Basic Financial Statement
Plan expenses were paid out of the Company's general assets.
----------------------------------------------------------------------
SUMMARY ANNUAL REPORT
FOR DIGITAL EQUIPMENT CORPORATION SEVERANCE PAY & BENEFITS PLAN
This is a summary of the annual report of the Digital Equipment
Corporation Severance Pay & Benefits Plan, EIN 04-2226590, Plan Number
510, for the period July 1, 1994 through June 30, 1995. The annual
report has been filed with the Internal Revenue Service, as required
under the Employee Retirement Income Security Act of 1974 (ERISA).
Digital Equipment Corporation has committed to pay all severance
benefits provided under the Plan.
Basic Financial Statement
Plan expenses were paid out of the Company's general assets.
---------------------------------------------------------------------
YOUR RIGHTS TO ADDITIONAL INFORMATION
You have the right to receive a copy of the full annual report of any
or all of the above plans. To obtain a copy of the full annual report
of any of the above plans, or any part thereof, please call or write
the Plan Administrator, Digital Equipment Corporation, 111 Powdermill
Road, MSO2-1/D2, Maynard, MA 01754-1499, (508)493-9658.
You also have the right to receive from the Plan Administrator, on
request and at a charge as set forth below, a statement of the assets
and liabilities of the above plans and the accompanying notes, or a
statement of income and expenses of the above plans and accompanying
notes, or both. If you request a copy of the full annual report for
any or all of these plans from the Plan Administrator, these two
statements and accompanying notes will be included as part of that
report.
You also have the legally protected right to examine the annual report
at the main office of the Plan Administrator, Digital Equipment
Corporation, 111 Powdermill Road, MSO2-1/D2, Maynard, MA 01754-1499
and at 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.
For All Plans
The charge to cover copying costs is as follows:
Cost for Cost per page for
Plan full annual report any part thereof
Pension $8.00 $0.25
SAVE $2.00 $0.25
Group Insurance $2.00 $0.25
Disability Income Plan $2.00 $0.25
Business Travel Accident $2.00 $0.25
Long-Term Disability $2.00 $0.25
Medical, Retiree Medical $8.00 $0.25
and Dental Assistance
Cafeteria Plan $2.00 $0.25
Educational Assistance Plan $2.00 $0.25
Severance Pay & Benefits Plan $2.00 $0.25
Part # EF-A6873-50
Distribution:
This message was delivered to you utilizing the Readers Choice delivery
services. You received this message because you are a U.S. Employee. If you
have questions regarding this message, please contact the author.
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JOHN ZOCCHI@SHR,
JON RAPHAELSON@SHR,
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JOSEPH CHU@SHR,
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| T.R | Title | User | Personal
Name | Date | Lines |
|---|
| 4657.1 | Huh? | VMSSG::FRIEDRICHS | Ask me about Young Eagles | Thu Jun 13 1996 11:59 | 15 |
| I saw this and was a bit confused...
Is this the 1996 or 1995 Summary?? If it is the 1995 (which appears to
have ended on June 30, 1995) then this report is giving us data that
is a year old. But, since it isn't June 30, 1996 yet, they can't be
reporting on it yet. But the subject says it is the 1996 report..
If it was the calendar 1995 report, then I guess the data is only 6
months old, but it sure looks like the fiscal year is July-June..
So what is this really reporting??
Thanks,
jeff
|
| 4657.2 | | ACISS2::LENNIG | Dave (N8JCX), MIG, @CYO | Thu Jun 13 1996 12:41 | 11 |
| It's for the "Plan Year" stated.
I've questioned the timeliness of these with the Corporate Treasurer's
office before, and the reply has been that the IRS doesn't require the
financials to be done until April 15th following the plan/fiscal year
(and it appears they usually apply for an extenstion of some kind).
The next go around will be interesting, since some of the plans (SAVE
in particular) adjusted their plan year to align with the calander year.
Dave
|
| 4657.3 | | VMSSG::FRIEDRICHS | Ask me about Young Eagles | Fri Jun 14 1996 12:01 | 4 |
| Then shouldn't it be titled the "1995 Statement"??
jeff
|