OE News Special Edition July 2013

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OPERATING ENGINEERS' PENSION PLAN Statement of Changes in Net Assets Available for Benefits For the Year Ended April 30, 2012 and 2011 OPERATING ENGINEERS' PENSION PLAN Statement of Expenses 2012 2011 Increase in Book Value of Assets: For the Year Ended April 30, 2012 and 2011 Contributions $ 35,479,577 $ 28,509,186 Cooperative housing income Dividends, gains on sale of securities, and interest - Administrative: Investments managed under contract Actuarial Other and appraisals Real Amortization estate income Bank charges 176,094 176,094 2012 2011 52,871,856 33,949,120 $ 267,742134,166 148,926 $ 124,798 5,437,39025,1195,384,133 19,616 6,600 6,605 Consulting Education 94,232,659 229,250 68,167,459 206,749 8,332 2,260 Decrease Insurance in Book Value of Assets: Labour Benefit Payments - Material and supplies Cash terminations Miscellaneous Death Postage and courier Pension Professional fees 50,522 56,444 1,035,457 912,850 31,056 29,112 4,774,039 4,586,192 100,273 91,833 228,634 918,704 49,019 44,912 40,215,596 95,664 38,874,013 88,355 Public relations Rent 114,498 118,405 45,218,26971,369 44,378,909 70,737 Telecommunications Expenses- Trustees Administrative 12,219 13,551 53,815 27,098 1,141,079 1,015,967 Investments managed under contract Other Cost Recoveries: 935,138 2,017,359 1,450 841,043 1,813,325 (21,087) Administration fees 2,077,66624,2801,835,923 17,358 Management fees 852,000 780,000 Increase in book value of assets 46,936,724 21,952,627 876,280 797,358 Assigned and fair value adjustment Totals Increase in fair value adjustment 83,946,740 $1,141,079 21,437,034 $1,015,967 Increase in assigned value adjustment 37,912,468 19,331,797 121,859,208 40,768,831 Increase in Net Assets available for benefits 168,795,931 62,721,458 Net Assets These summarized Available for financial Benefits, statements beginning are not complete and do 844,956,804 not contain all of 782,235,346 the disclosures required under Canadian general accounting principles. A complete set of financial statements, and notes thereto, are available upon request from the Operating Engineers Local 115 Pension Plan Administrator. Net Assets Available for Benefits, ending $1,013,752,735 $844,956,804 These summarized financial statements are not complete and do not contain all of the disclosures required under Canadian general accounting principles. A complete set of financial statements, and notes thereto, are available upon request from the Operating Engineers Local 115 Pension Plan Administrator. 22 News Special Edition Summer 2013
34th annuaL pEnsion soCiaL Retirees gather for annual evening The 2012 Operating Engineers’ 34th annual Pension Social Evening attracted approximately 345 retirees and spouses to the Vancouver Italian Cultural Centre for an enjoyable evening of dinner and entertainment. This most popular event provides an opportunty for retired members and their spouses/guests to renew old friendships, reminisce on numerous shared projects during their careers and to exchange ideas and events pertaining to the enjoyment of their welldeserved retirement years. Those in attendance enjoyed a delectable buffet subsequently followed by entertainment and dancing. A special “Thanks” to all the Staff in the Benefits and Pension Plan office for their continued assistance and effort in ensuring the event’s success. Special Edition Summer 2013 News 23
Page 1 and 2: News Special Edition: 38 th Annual
Page 3 and 4: MEssagE FRoM thE ChaiRMan Staying t
Page 5 and 6: a MEssagE FRoM thE tRustEEs Investm
Page 7 and 8: E & E May 7, 2013 ELLEMENT & ELLEME
Page 9 and 10: The interest rate impact The follow
Page 11 and 12: Greater certainty in all investment
Page 13 and 14: is this: for every 1% drop in long
Page 15 and 16: sOlvency valuatiOn Balance sheet AS
Page 17 and 18: The three largest cost centers Medi
Page 19 and 20: aDministratiOn exPenses The followi
Page 21 and 22: REPORT OF THE INDEPENDENT AUDITOR O
Page 23: OPERATING ENGINEERS' PENSION PLAN S
Page 27 and 28: 34th Annual Retirees’ Social Even
Page 29 and 30: 34th Annual Retirees’ Social Even
Page 31 and 32: REPORT OF THE INDEPENDENT AUDITOR O
Page 33 and 34: OPERATING ENGINEERS' PENSION PLAN S
Page 35 and 36: Local Union Offices District 1 and

OE News Special Edition July 2013

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