Vol 2 Iss 4 4th qtr 10.pub - Operating Engineers Local 520

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Volume 2, Issue 4 Page 10 ANNUITY FUND: The Annuity Fund assets continue to grow at an impressive rate. As of August 31, 2010, the Market Value of Plan Assets was $80,988,949.77 compared to $65,852,456.06 as of August 31, 2009, an increase of $15,136,493.71 or 23%. We have listed below the year-to-date and 1-year, 3-year and 5-year Average Returns as of 9/13/10 for the 18 Mutual Fund selections that are currently available to you under the Daily Valuation Investment Program: Fund Name 1-year Return 3-yr Avg. Return 5-yr Avg. Return Year-to-Date Return as of 9/13/10 Distribution of Investments Federated Capital Preservation (IP)* 3.4% 4.0% 4.1% 1.3% 44.6% Federated U.S. : Gov’t: 2-5 years 4.5% 6.7% 5.5% 4.7% 3.6% T. Rowe Price U.S. Treasury Intermediate 7.8% 8.6% 6.5% 8.6% 1.6% Dodge & Cox Income 8.9% 7.7% 6.2% 6.0% 2.3% Dodge & Cox Balanced 6.7% -5.1% .6% 1.8% 2.8% Vanguard 500 Index 9.7% -6.9% .2% 2.0% 1.6% Dodge & Cox Stock 5.4% -10.3% -1.8% .1% 2.6% American Century Ultra 10.7% -4.6% -.8% .3% .5% T. Rowe Price: Mid-Cap Growth 15.7% -1.1% 4.6% 8.2% 2.8% Fidelity Low-Priced Stock 11.6% -2.2% 3.0% 5.5% 2.5% Fidelity Diversified International 2.1% -9.2% 1.4% -1.9% 1.9% Accessor Aggressive Growth Fund 5.0% -9.0% -1.2% .1% .6% Accessor Growth Allocation Fund 7.1% .7% 2.8% 3.9% .9% Accessor Growth & Income Fund 6.8% -3.5% 1.3% 2.7% 2.0% Accessor Balanced Allocation fund 6.5% -1.8% 2.0% 2.8% 1.1% Accessor Income & Growth Fund 7.1% .7% 2.8% 3.9% 28.2% Accessor Income Allocation Fund 9.0% 5.2% 4.4% 6.4% .1% Federated Treasury Obligations Fund .01% 1.3% 2.47% 0.0% .3% Changes to Annuity Fund Investment Options: Effective June 1, 2010, the Operating Engineers CD Fund is no longer being offered as an investment option due to the fact that it has not been possible to find a bank that offers such a fund. Anyone that has money invested in the Operating Engineers CD Fund will need to re-allocate that investment into any of the 18 Mutual Fund selections that are currently available under the daily valuation investment program. If you did not make an affirmative election to re-allocate your CD fund investment by June 30, 2010, the proceeds were transferred into the Accessor Income & Growth Fund, which serves as the Annuity Fund’s “Qualified Default Investment Alternative” (QDIA) as defined by the U.S. Department of Labor. Effective June 1, 2010, the Federated Treasury Obligations Fund was added as a new investment option under the Annuity Plan. This fund is a Money Market Fund with a goal of providing conservative investors with current income consistent with stability of principal. The fund pursues its objective by investing primarily in a portfolio of U.S. Treasury securities maturing in 397 days or less. The Federated Treasury Obligation Fund had a yield of .01% for the one-year period ending June 30, 2010, with Total Net Assets of more than $17 billion. You should have received information from First Bank about these changes to the Annuity Fund investment options during the first week of June 2010. If you did not receive this material or if you have any questions about your Annuity Fund investment options, please contact our representative, Sheila Hester, at (314) 889-1010 or toll-free at (800) 452-1414.
THE 520 HOISTER Page 11 TRAINING DEPARTMENT Well, fall is upon us and things are busy at the new site near Troy. The building construction is a little behind schedule, but everyone is working hard to get it completed. The steel is all erected and the bricklayers are there putting up the brick. I know we are a little behind schedule, but I think we might be in it by the first of the year, if we don’t have too many delays. We have also been working on other areas surrounding the building using Training Department personnel and Apprentices. The plans are to have training fields, a crane field, roads, and about a seven to eight acre lake. Our goal is to end up with a training site that is beautiful, practical, and something that will make everyone in the Local proud. We have purchased another crane for our crane classes. It is a 1987 C-65 P & H/ Kobelco. It has 150 ft. of boom and 60 ft. jib with it and we believe it will be a good addition to our facility. Our apprenticeship application process is still closed at this time. Due to the amount of applicants we have on file, we see no need to take more applications at this time. When we decide to open the application process, it will be posted on our website and we will also run ads in the local papers. We had one apprentice graduate in September, 2010. We would like to thank Joseph Cangelosi for fulfilling his obligations and we hope he has a long and successful career as a journeyman for Local 520. Cangelosi
Page 1 and 2: IUOE Local 520 Volume 2, Issue 4 Fa
Page 3 and 4: Volume 2, Issue 4 Page 3 Ron Johnso
Page 5 and 6: Page 5 THE 520 HOISTER Mike Parkins
Page 7 and 8: Page 7 THE 520 HOISTER Business Man
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Page 13 and 14: Page 13 Volume 2, Issue 4 Prairie S
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Vol 2 Iss 4 4th qtr 10.pub - Operating Engineers Local 520

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