International Painters and Allied Trades Industry Pension ... - IUPAT

PARTICIPANTSThe Plan and the Supplemental Participation Agreement for Non-Unit Employees requirecompliance with additional tax rules on non-discrimination and other matters for non-bargainedemployees. The Plan also includes required tax limitations on benefits for highly-compensatedemployees that may affect or restrict the payment of normal benefits under the Plan. Anagreement for non-unit employees may exclude employees who are represented by their ownunion and make retirement benefits the subject of good faith bargaining.Participant TotalsThe total number of participants in the Plan as of the Plan’s valuation date of January 1, 2010was 79,110. The Plan’s participant population on January 1 of the last three (3) calendar (plan)years has varied as follows.Category 2008 2009 2010Active VestedParticipantsActive Non-VestedParticipantsVested FormerEmployeesRetirees, includingsurviving spouses andother beneficiaries24,592 22,252 22,69921,662 22,718 14,94613,693 14,230 16,23024,582 24,688 25,235Totals 84,529 83,888 79,110Withdrawn EmployeesEmployer withdrawals have an impact on the Plan’s active employee population. To provide aconsistent basis for presentation of a range of outcomes, the Plan has treated a contributingbusiness (with a separate IRS Employer Identification Number or EIN) as a withdrawn employerif the business has been inactive and made no contributions for five (5) years. An employee whoworked for such an employer in the last year with contributions is treated as no longerparticipating in the Plan due to the employer’s withdrawal.Using these inactivity tests, the number of participants who worked (in the last plan year withcontributions) for employers who became inactive or withdrew in each year (after 5 years with nocontributions) are as follows.Plan Year (1/1 – 12/31)Inactive Participants2010 3,8102009 3,8432008 3,967IUPAT INDUSTRY PENSION PLAN – ANNUAL EMPLOYER & UNION REPORT (2010) 3