Issue link: http://educator.cta.org/i/556394
T H I S I S A S U M M A R Y of the annual report of the California Teach- ers Association Economic Benefits Trust Member Welfare Benefit Plan, EIN 94-0362310, Plan No. 590, for the period Sept. 1, 2013, through Aug. 31, 2014. The annual report has been filed with the Employee Benefits Security Administration, U.S. Department of Labor, as required under the Employee Retirement Income Security Act of 1974 (ERISA). Insurance Information: The plan has contracts with Standard Insurance Company to pay life insurance and long-term disability claims incurred under the terms of the plan. The total premiums paid for the plan year ending Aug. 31, 2014, were $34,057,969. Because they are so-called "experience-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 Aug. 31, 2014, the premiums paid under such "experience-rated" contracts were $34,057,969 and the total of all benefit claims paid under these contracts during the plan year was $26,355,394. The Plan finances, to specified members of CTA, death and dis- memberment benefits through the CTA Death and Dismemberment Plan, a health information and well-baby program, a consumer ben- efits education program, a retiree discount vision program, and an investment education program. These benefits are self-funded by the Plan and are not insured by an insurance company. Basic Financial Statement: The value of plan assets, after sub- tracting liabilities of the plan, was $85,607,392 as of Aug. 31, 2014, compared to $78,543,582 as of Sept. 1, 2013. During the plan year the plan experienced an increase in its net assets of $7,063,810. This increase includes unrealized appreciation and deprecia- tion 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 $43,630,552, including employee contributions of $34,163,083, realized gains of $1,839,725 from the sale of assets, earnings from investments of $6,683,224, and other income of $944,520. Plan expenses were $36,566,742. These expenses included $1,788,224 in administrative expenses, and $34,778,518 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) financial information; 3) assets held for investment; 4) insurance information, including sales commissions paid by insurance carriers. To obtain a copy of the full annual report, or any part thereof, write the office of Risk Management/Member Benefits, California Teachers Association [the plan administrator], 1705 Murchison Drive, Burlingame, CA 94010, or call 650-697-1400. The charge to cover copying costs will be 25 cents per page. You also have the right to receive from the plan administrator, on request and at no charge, a statement of the assets and liabili- ties of the plan and accompanying notes, or a statement of income and expenses of the plan and accompanying 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. The charge to cover copying costs given above does not include a charge for the copying of these portions of the report because these portions are furnished without charge. You also have the legally protected right to examine the annual report at the main office of the plan (California Teachers Asso- ciation, 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 Department should be addressed to: Pub- lic Disclosure Room, Room N1513, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Ave- nue NW, Washington, DC 20210. 2013-14 Summary Annual Report For CTA Economic Benefits Trust Member Welfare Benefit Plan Word Scramble Answers 1. school 2.pencil 3. friends 4. teacher 5. student 6. office 7. tests 8. homework 9. gym 10. scissors 11. videos 12. ruler 13. classroom Phrase: It's back to school time! 59 V O L U M E 2 0 I S S U E 1 CTA & You