Issue link: http://educator.cta.org/i/1545867
T H I S I S A S U M M A R Y of the annual report of the California Teachers Associ- ation Economic Benefits Trust Member Welfare Benefit Plan, EIN 94-0362310, Plan 590, for period September 1, 2024 through August 31, 2025. The annual report has been filed with the Employee Ben ef its Se curity Admini stration , as required under the Employee Retirement Income Security Act of 1974 (ERISA). Certain benefits are self-insured and claims incurred under the terms of the plan for such benefits are paid directly from the plan's trust fund. Insurance Information The plan has contracts with Standard Insurance Company to pay certain life insurance, temporar y disability, long- term disability and accidental death & dismemberment claims incurred under the terms of the plan. e total premiums paid for the plan year ending August 31, 2025 were $51,010,873. Because th ey are so-cal led exp eri- ence-rated contracts, the premium costs are affected by, among other things, the number and size of claims. Of the total insurance premiums paid for the plan year ending August 31, 2025, the premi- ums paid under such experience-rated contracts were $50,600,872, and the total of all benefit claims paid under these experience-rated contracts during the plan year was $40,472,434. Basic Financial Statement e value of plan assets, after subtracting liabilities of the plan, was $180,020,683 a s of Au g u st 3 1 , 2 0 2 5 , c o m p a re d t o $176,395,176 as of September 1, 2024. During the year, the plan experienced an increase in its net assets of $3,625,507. is increase includes unrealized appre- ciation and 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 $63,130,785, including participant con- tributions of $51,385,274, realized gains of $25,450 from the sale of assets, earnings from investm ents of $16,480,149 and other income of ($4,760,088). Plan expenses were $59,505,278. ese expenses included $2,061,664 in admin- istrative expenses and $57,443,614 in benefits paid to participants and bene- ficiaries. 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. • An accountant's report • Financial information and information on payments to service providers • Assets held for investment • Transactions in excess of 5% of plan assets • Insurance information, including sales commissions paid by insurance carriers To obtain a copy of the full annual re p or t, or any p ar t th ere of, w rit e or call th e of fice of California Teach ers 2024-25 SUMMARY ANNUAL REPORT For California Teachers Association Economic Benefits Trust Member Welfare Benefit Plan Association in care of Vicki Rodgers, Plan Administrator, at 1705 Murchison Drive, Burlingame, CA 94010, or by telephone at (650) 697-1400. 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 accompany- ing notes, or a statement of income and expenses of the plan and accompany- ing 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. You also have the legally protected right to examine the annual report at the main office of the plan (California Teachers Association, 1705 Murchison Drive, Burlingame, CA 94010) 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 Depart- m ent should b e addressed to: Public D i s c l o su re R o o m , N 1 5 1 3 , E m p l o y e e Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, DC 20210. 38 cta.org Our Union