5500 Annual Return/Report of Employee Benefit Plan OMB Nos. 1210-0110 Form 1210-0089

Department of the Treasury This form is required to be filed for employee benefit plans under sections 104

Internal Revenue Serv ce and 4065 of the Employee Retirement Income Security Act of 1974 (ERISA) and

sections 6057(b) and 6058(a) of the Internal Revenue Code (the Code). 2016

Department of Labor

Employee Benefits Secur ty

Adm nistrat on G Complete all entries in accordance with This Form Is Open to the instructions to the Form 5500. Pens on Benefit Guaranty Corporation Public Inspection

Part I Annual Report Identification Information

For calendar plan year 2016 or fiscal plan year beginning and ending

A This return/report is for: (1) a multiemployer plan (3) a multiple-employer plan (Filers checking this box must attach a list of

participating employer information in accordance with the form

instructions)

(2) a single-employer plan (4) a DFE (specify)

B This return/report is: (1) the first return/report (3) the final return/report

(2) an amended return/report (4) a short plan year return/report (less than 12 months)

C If the plan is a collectively-bargained plan, check here. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . G

D Check box if filing under: Form 5558 automatic extension; the DFVC program;

special extension (enter description)

Part II Basic Plan Information ' enter all requested information

1 a Name of plan 1b Three-digit

plan number (PN). . . . G

1c Effective date of plan

2 a Plan sponsor s name (employer, if for a s ngle-employer plan) 2b Employer Identification Number (E N)

Mailing address ( nclude room, apt., suite no. and street, or P.O. Box)

City or town, state or province, country, and Z P or fore gn postal code (if foreign, see instruct ons)

2c Plan Sponsor s telephone number

2d Business code (see nstructions)

Caution: A penalty for the late or incomplete filing of this return/report will be assessed unless reasonable cause is established.

Under penalties of perjury and other penalties set forth in the nstructions, I declare that I have examined this return/report, includ ng accompany ng schedules, statements and attachments, as

well as the electron c version of this return/report, and to the best of my knowledge and belief, it is true, correct, and complete.

SIGN

HERE

Signature of plan administrator Date Enter name of individual s gning as plan administrator

SIGN

HERE

Signature of employer/plan sponsor Date Enter name of individual s gn ng as employer or plan sponsor

SIGN

HERE

Signature of DFE Date Enter name of individual s gning as DFE

Preparer's name (including firm name, if applicable) and address (include room or suite number) Preparer's telephone number

For Paperwork Reduction Act Notice, see the instructions for Form 5500. Form 5500 (2016)

v.160205

EBPA9401L 12/05/16

04/01/2016 03/31/2017

X

X

X

LOCAL 805 PENSION & RETIREMENT FUND 001

12/20/1954

13-1917612

212-308-4200

525100

LINDA KELLNER

BOARD OF TRUSTEES LOCAL 805

PENSION & RETIREMENT FUND

60 BROAD STREET, 37TH FL

NEW YORK, NY 10004-2336
Form 5500 (2016) Page 2

3 a Plan administrator's name and address Same as Plan Sponsor 3b Adm nistrator s E N

3c Adm nistrator s telephone number

4b EIN 4 If the name and/or EIN of the plan sponsor has changed since the last return/report filed for this plan, enter the

name, EIN and the plan number from the last return/report:

a Sponsor s name 4c PN

5 Total number of participants at the beginning of the plan year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

6 Number of participants as of the end of the plan year unless otherwise stated (welfare plans complete only

lines 6a(1), 6a(2), 6b, 6c, and 6d).

a(1) Total number of active participants at the beginning of the plan year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6a(1)

a(2) Total number of active participants at the end of the plan year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6a(2)

b Retired or separated participants receiving benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 b

c Other retired or separated participants entitled to future benefits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 c

d Subtotal. Add lines 6a(2), 6b, and 6c. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 d

e Deceased participants whose beneficiaries are receiving or are entitled to receive benefits. . . . . . . . . . . . . . . . . 6 e

f Total. Add lines 6d and 6e. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 f

g Number of participants with account balances as of the end of the plan year (only defined contribution plans

complete this item) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 g

h Number of participants that terminated employment during the plan year with accrued benefits that were less

than 100% vested. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 h

7 Enter the total number of employers obligated to contribute to the plan (only multiemployer plans complete this item). . . . . . . . . . . . . . . 7

8 a If the plan provides pension benefits, enter the applicable pension feature codes from the List of Plan Characteristics Codes in the instructions:

b If the plan provides welfare benefits, enter the applicable welfare feature codes from the List of Plan Characteristics Codes in the instructions:

9 a Plan funding arrangement (check all that apply) 9 b Plan benefit arrangement (check all that apply)

(1) Insurance (1) Insurance

(2) Code section 412(e)(3) insurance contracts (2) Code section 412(e)(3) insurance contracts

(3) Trust (3) Trust

(4) General assets of the sponsor (4) General assets of the sponsor

10 Check all applicable boxes in 10a and 10b to indicate which schedules are attached, and, where indicated, enter the number attached. (See instructions)

a Pension Schedules b General Schedules

(1) R (Retirement Plan Information) (1) H (Financial Information)

(2) MB (Multiemployer Defined Benefit Plan and Certain (2) I (Financial Information ' Small Plan)

Money Purchase Plan Actuarial Information) ' signed by (3) A (Insurance Information)

the plan actuary (4) C (Service Provider Information)

(3) SB (Single-Employer Defined Benefit Plan Actuarial (5) D (DFE/Participating Plan Information)

Information) ' signed by the plan actuary (6) G (Financial Transaction Schedules)

EBPA 9402L 12/05/16

X

1997

430

459

827

574

1860

169

2029

20

8

1B 2C

X

X X

X X

X

X 1

X

X
Schedule MB OMB No. 1210-0110 Multiemployer Defined Benefit Plan and Certain

(Form 5500) Money Purchase Plan Actuarial Information Department of the Treasury

Internal Revenue Serv ce This schedule is required to be filed under section 104 of the Employee 2016

Department of Labor Retirement Income Security Act of 1974 (ERISA) and section 6059 of the

Employee Benefits Secur ty Administrat on Internal Revenue Code (the Code). This Form is Open to

Pens on Benefit Guaranty Corporat on G File as an attachment to Form 5500 or 5500-SF. Public Inspection

For calendar plan year 2016 or fiscal plan year beginning and ending

G Round off amounts to nearest dollar.

G Caution: A penalty of $1,000 will be assessed for late filing of this report unless reasonable cause is established.

A Name of plan

B Three-digit

plan number (PN). . . . . G

C Plan sponsor s name as shown on line 2a of Form 5500 or 5500-SF D Employer Identification Number (EIN)

E Type of plan: (1) Multiemployer Defined Benefit (2) Money Purchase (see instructions)

1 a Enter the valuation date: Month Day Year

b Assets

(1) Current value of assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b(1)

(2) Actuarial value of assets for funding standard account. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1b(2)

c (1) Accrued liability for plan using immediate gain methods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1c(1)

(2) Information for plans using spread gain methods:

(a) Unfunded liability for methods with bases. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1c(2)(a)

(b) Accrued liability under entry age normal method. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1c(2)(b)

(c) Normal cost under entry age normal method. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1c(2)(c)

(3) Accrued liability under unit credit cost method. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1c(3)

d Information on current liabilities of the plan:

(1) Amount excluded from current liability attributable to pre-participation service (see instructions). . . . . . . . . . . . . . . . . 1d(1)

(2) 'RPA '94' information:

(a) Current liability. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1d(2)(a)

(b) Expected increase in current liability due to benefits accruing during the plan year. . . . . . . 1d(2)(b)

(c) Expected release from 'RPA '94' current liability for the plan year. . . . . . . . . . . . . . . . . . . . . . . 1d(2)(c)

(3) Expected plan disbursements for the plan year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1d(3)

Statement by Enrolled Actuary

To the best of my knowledge, the information suppl ed n this schedule and accompanying schedules, statements, and attachments, if any, is complete and accurate. Each prescr bed

assumption was appl ed n accordance with appl cable law and regulations. In my op nion, each other assumption is reasonable (tak ng nto account the experience of the plan and reasonable

expectations) and such other assumpt ons, in combination, offer my best est mate of ant cipated exper ence under the plan.

SIGN

HERE

Signature of actuary Date

Type or pr nt name of actuary Most recent enrollment number

Firm name Telephone number (including area code)

Address of the f rm

If the actuary has not fully reflected any regulation or ruling promulgated under the statute in completing this schedule,

check the box and see instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 

For Paperwork Reduction Act Notice, see the Instructions for Form 5500 or 5500-SF. Schedule MB (Form 5500) 2016

v. 160205

EBPA 9911L 12/13/16

04/01/2016 03/31/2017

LOCAL 805 PENSION & RETIREMENT FUND

001

13-1917612

X

04 01 2016

51672207

59927451

163427314

163427314

227557297

903187

11704972

12/21/2017

CRAIG A. VOELKER 17-05537

O' SULLIVAN ASSOCIATES, INC

1236 BRACE ROAD, UNIT E

CHERRY HILL, NJ 08034

BOARD OF TRUSTEES LOCAL 805

856 795-7777
Schedule MB (Form 5500) 2016 Page 2 '

2 Operational information as of beginning of this plan year:

a Current value of assets (see instructions). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2a

b 'RPA '94' current liability/participant count breakdown: (1) Number of participants (2) Current liability

(1) For retired participants and beneficiaries receiving payment. . . . . . . . . . . . 

(2) For terminated vested participants. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 

(3) For active participants:

(a) Non-vested benefits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 

(b) Vested benefits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 

(c) Total active. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 

(4) Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 

c If the percentage resulting from dividing line 2a by line 2b(4), column (2), is less than 70%,

enter such percentage. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2c %

3 Contributions made to the plan for the plan year by employer(s) and employees:

(a) Date (b) Amount paid (c) Amount paid (a) Date (b) Amount paid (c) Amount paid

(MM-DD-YYYY) by employer(s) by employees (MM-DD-YYYY) by employer(s) by employees

Totals. . . . G 3(b) 3(c)

4 Information on plan status:

a Funded percentage for monitoring plan's status (line 1b(2) divided by line 1c(3)). . . . . . . . . . . . . . . . . . . . 

4a % b Enter code to indicate plan's status (see instructions for attachment of supporting evidence of plan's

status). If code is 'N,' go to line 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4b

c Is the plan making the scheduled progress under any applicable funding improvement or rehabilitation plan?. . . . . . . . . Yes No

d If the plan is in critical status or critical and declining status, were any benefits reduced (see instructions)?. . . . . . . . . . . Yes No

e If line d is 'Yes,' enter the reduction in liability resulting from the reduction in benefits

(see instructions), measured as of the valuation date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4e

f If the rehabilitation plan projects emergence from critical status or critical and declining status,

enter the plan year in which it is projected to emerge.

If the rehabilitation plan is based on forestalling possible insolvency, enter the plan year in which

insolvency is expected and check here. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4f

5 Actuarial cost method used as the basis for this plan year's funding standard account computations (check all that apply):

a Attained age normal b Entry age normal c Accrued benefit (unit credit) d Aggregate

e Frozen initial liability f Individual level premium g Individual aggregate h Shortfall

i Other (specify):

j If box h is checked, enter period of use of shortfall method. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5j

k Has a change been made in funding method for this plan year?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes No

l If line k is 'Yes,' was the change made pursuant to Revenue Procedure 2000-40 or other automatic approval?. . . . . . . . Yes No

m If line k is 'Yes,' and line l is 'No,' enter the date (MM-DD-YYYY) of the ruling letter (individual or

class) approving the change in funding method. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5m

EBPA 9912L 12/13/16

51672207

971 142792445

596

430 44339157

40425695

1997 227557297

1982095

X

X

738796

43600361

22.71

36.67

X

X

D

2021

10-01-2016. . 1807322

10-01-2016. . 174773
Schedule MB (Form 5500) 2016 Page 3 '

6 Checklist of certain actuarial assumptions:

a Interest rate for 'RPA '94' current liability. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6a %

Pre-retirement Post-retirement

b Rates specified in insurance or annuity contracts . . . . . . . . . . . . . . . . . . . . . . . . . Yes No N/A Yes No N/A

c Mortality table code for valuation purposes:

(1) Males. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6c(1)

(2) Females. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6c(2)

d Valuation liability interest rate. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6d % %

e Expense loading. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6e % N/A % N/A

f 6f % N/A Salary scale. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 

g Estimated investment return on actuarial value of assets for year ending on the valuation date . . . . . . 6g %

h Estimated investment return on current value of assets for year ending on the valuation date. . . . . . . . 6h %

7 New amortization bases established in the current plan year:

(1) Type of base (2) Initial balance (3) Amortization Charge/Credit

8 Miscellaneous information:

a If a waiver of a funding deficiency has been approved for this plan year, enter the date

(MM-DD-YYYY) of the ruling letter granting the approval. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8a

b (1) Is the plan required to provide a projection of expected benefit payments? (See the instructions.)

If 'Yes,' attach a schedule. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes No

b (2) Is the plan required to provide a Schedule of Active Participant Data? (See the instrs.) If 'Yes,' attach a schedule . Yes No

c Are any of the plan's amortization bases operating under an extension of time under section 412(e) (as in effect

prior to 2008) or section 431(d) of the Code? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes No

d If line c is 'Yes,' provide the following additional information:

(1) Was an extension granted automatic approval under section 431(d)(1) of the Code?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes No

(2) If line 8d(1) is 'Yes,' enter the number of years by which the amortization period was extended . . . . . . . . . . . . . . . . . . 8d(2)

(3) Was an extension approved by the Internal Revenue Service under section 412(e) (as in effect

prior to 2008) or 431(d)(2) of the Code? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes No

(4) If line 8d(3) is 'Yes,' enter number of years by which the amortization period was extended

(not including the number of years in line (2)). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8d(4)

(5) If line 8d(3) is 'Yes,' enter the date of the ruling letter approving the extension. . . . . . . . . . . . . . 8d(5)

(6) If line 8d(3) is 'Yes,' is the amortization base eligible for amortization using interest rates

applicable under section 6621(b) of the Code for years beginning after 2007?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes No

e If box 5h is checked or line 8c is 'Yes,' enter the difference between the minimum required

contribution for the year and the minimum that would have been required without using the

shortfall method or extending the amortization base(s). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8e

9 Funding standard account statement for this plan year:

Charges to funding standard account:

a Prior year funding deficiency, if any. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9a

b Employer's normal cost for plan year as of valuation date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9b

c Amortization charges as of valuation date: Outstanding balance

(1) All bases except funding waivers and certain bases for

which the amortization period has been extended . . . . . . . . . . . 9c(1)

(2) Funding waivers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9c(2)

(3) Certain bases for which the amortization period has

been extended. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9c(3)

d Interest as applicable on lines 9a, 9b, and 9c. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9d

e Total charges. Add lines 9a through 9d. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9e

EBPA 9913L 12/13/16

3.23

X X

A A

A A

6.50 6.50

X 96.3

X

2.6

0.1

1 5475101 546753

4 2538264 253476

X

X

X

36717078

896807

74922043 8859388

3020763

49494036
Schedule MB (Form 5500 ) 2016 Page 4

Credits to funding standard account:

f Prior year credit balance, if any. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9f

g Employer contributions. Total from column (b) of line 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9g

Outstanding balance

h Amortization credits as of valuation date . . . . . . . . . . . . . . . . . . . . . . . . 9h

i Interest as applicable to end of plan year on lines 9f, 9g, and 9h. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9i

j Full funding limitation (FFL) and credits:

(1) ERISA FFL (accrued liability FFL). . . . . . . . . . . . . . . . . . . . . . . . . . . 9j(1)

(2) 'RPA'94' override (90% current liability FFL). . . . . . . . . . . . . . . . . 9j(2)

(3) FFL credit. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9j(3)

k (1) Waived funding deficiency. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9k(1)

(2) Other credits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9k(2)

l Total credits. Add lines 9f through 9i, 9j(3), 9k(1), and 9k(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9l

m Credit balance: If line 9l is greater than line 9e, enter the difference. . . . . . . . . . . . . . . . . . . . . . . . . . . . 9m

n Funding deficiency: If line 9e is greater than line 9l, enter the difference. . . . . . . . . . . . . . . . . . . . . . . . 9n

9 o Current year's accumulated reconciliation account:

(1) Due to waived funding deficiency accumulated prior to the 2016 plan year. . . . . . . . . . . . . . . . . . 9o(1)

(2) Due to amortization bases extended and amortized using the interest rate under

section 6621(b) of the Code:

(a) Reconciliation outstanding balance as of valuation date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9o(2)(a)

(b) Reconciliation amount (line 9c(3) balance minus line 9o(2)(a)). . . . . . . . . . . . . . . . . . . . . . . . . . 9o(2)(b)

(3) Total as of valuation date. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9o(3)

10 Contribution necessary to avoid an accumulated funding deficiency. (See instructions.). . . . . . . . . . 10

11 Has a change been made in the actuarial assumptions for the current plan year? If 'Yes,' see instructions. . . . . . . . . . . . Yes No

EBPA 9914L 12/13/16

1982095

8139258 2064939

192600

119974288

150282423

4239634

45254402

45254402

X
Schedule MB (2016) 

Statement by Enrolled Actuary 

Local 805 Pension and Retirement Plan 

EIN: 13-1917612 PN: 001 

Employer Contributions (line 3)

The employer contributions shown in line 3 of the Schedule MB were contributed or accrued throughout 

the plan year for work performed during the plan year and were assumed to be paid at the end of the month. 

Illustration Supporting Actuarial Certification of Status (line 4b) 

Attached is a copy of the PPA Zone Certification. 

Documentation Regarding Progress under Funding Improvement Plan (line 4c) 

Attached is documentation regarding progress under the Funding Improvement Plan. 

The Actuarial Assumptions and Methods (line 6) 

Attached is a summary of the actuarial assumptions and methods used to perform the most recent 

valuation. The actuarial assumptions and methods used in this valuation differ from those used in the 

prior valuation in the following respects: 

 The retirement assumption was changed from: 

Participants with 20 years of Credited Service as of April 1, 2009 are assumed to retire 3.25 years 

following 25 years of Credited Service for those credits accrued through March 31, 2005. The 

remaining credits accrued after April 1, 2005 are assumed to be payable at age 55. 

Participants with fewer than 20 years of Credited Service as of April 1, 2009 are assumed to retire 

upon age 65 and 5 Years of Participation. 

To the following table: 

Age 

Percent 

Retiring

55 20% 

56-61 5% 

62 25% 

63-64 5% 

65 70% 

66 50% 

67+ 100% 

If the participant had at least 20 years of Credited Service as of April 1, 2009, there is a one-time 

additional retirement incidence of 60% when the participant reaches age 55 and at least 25 years 

of Credited Service. This additional incidence applies immediately for participants who are already 

age 55 with 25 years of Credited Service. 

The future service assumption was reduced from 5,910 months per year to 4,997 months, due to 

an employer withdrawal. 

 Interest Rate was changed from 6.75% to 6.50%. 
Schedule MB (2016) 

Statement by Enrolled Actuary 

Local 805 Pension and Retirement Plan 

EIN: 13-1917612 PN: 001 

Plan Provisions (line 6) 

Attached is a summary of the plan provisions valued. The plan provisions underlying this valuation 

differ from those underlying the prior valuation in the following respect: 

 No change from previous year 

Schedule of Projection of Expected Benefit Payments (line 8b(1)) 

Attached is a schedule of projection of expected benefit payments. 

Schedule of Active Participant Data (line 8b(2))

Attached is a schedule of active participant data. 

Amortization Bases (line 9)

Attached is a schedule of minimum funding amortization bases maintained pursuant to IRC Section 431. 

Change in Actuarial Assumptions (line 11) 

A justification for the changes in actuarial assumptions is attached. 

Actuary’s Statement of Reliance 

In completing this Schedule MB, the enrolled actuary has relied upon the correctness of the financial 

information presented in the pension fund audit and upon the accuracy and completeness of participant 

census data provided by the Plan administration.
Schedule MB (2016), Line 4b – 

Illustration Supporting Actuarial Certification of Status 

Local 805 Pension and Retirement Plan 

EIN: 13-1917612 PN: 001 

Zone Certification 

As of April 1, 2016 

Initial Critical Zone Certification: April 1, 2008 

Adoption Period: 4/1/2008 – 3/31/2011 

Rehabilitation Period: 4/1/2011 – 3/31/2024 

Initial Critical and Declining Zone Certification: April 1, 2015 

Based on the following actuarial measures, the Plan is classified as “Critical and Declining Status” (a Red 

Zone category) as per the Multiemployer Pension Reform Act of 2014 (MEPRA). 

 The Plan meets the criteria for Critical Status, and 

 The Plan is projected to become insolvent in the current or next 19 years and 

 The Plan’s ratio of inactive to active participants is in excess of 2 to 1. 

After considering and rejecting as unreasonable various scenarios intended to meet the benchmarks of the 

Pension Protection Act, the Trustees selected a Rehabilitation Plan intended to comply with the provisions 

of IRC §432(e)(3)(A)(ii). Based upon the provisions of IRC §432(e)(3)(A)(ii), the Plan is making required 

progress in its Rehabilitation Plan. 

This certification was prepared on behalf of the Teamsters Local 805 Pension Plan based on employee data, 

asset statements and plan documents provided by the Plan Sponsor or its representatives. We relied upon 

the data as submitted, without formal audit. However, the data was tested for reasonableness, and we have 

no reason to believe that any other information which would have had a material effect on the results of this 

valuation was overlooked. 

Therefore, to the best of our knowledge and belief, the information presented in this certification is complete 

and accurate, and each assumption used represents our best estimate of anticipated experience under the 

Plan. 

 

Schedule MB (2016), Line 4c – 

Documentation Regarding Progress Under Funding Improvement or Rehabilitation Plan 

Local 805 Pension and Retirement Plan 

EIN: 13-1917612 PN: 001 

The Local 805 Pension and Retirement Plan (the “Plan”) was determined by the Plan’s actuary to be in 

critical status as of April 1, 2008. As of January 27, 2009, a Rehabilitation Plan was adopted to meet 

funding progress benchmark required by §432 of the code. The Rehabilitation Plan included benefit 

reductions and contribution rate increases which, at the time, were enough for the Plan to forestall 

insolvency until the Plan Year ending 3/31/2022. 

Since then, the plan sponsor determined that based on reasonable actuarial assumptions and upon 

exhaustion of all reasonable measures, the plan cannot reasonably be expected to emerge from critical status 

by the end of the Rehabilitation Period and that the Rehabilitation Plan can only be expected to forestall 

insolvency, as required by IRC §432(e)(3)(A)(ii). Since the Rehabilitation Plan is forestalling insolvency, 

we have certified the Plan is meeting its scheduled progress as required by IRC §432(b)(3)(A)(ii). 
Schedule MB (2016), Line 6 - 

Summary of Actuarial Assumptions/Methods 

Local 805 Pension and Retirement Plan 

EIN: 13-1917612 PN: 001 

Summary of Assumptions 

These are the assumptions used for the ongoing valuation calculations, unless otherwise noted. 

Interest Rate 6.50% per annum 

The long-term funding rate assumption is based upon expected returns for the asset 

classes selected under the Plan’s investment policy. The expected asset returns were 

generated using a building block approach that includes inflation expectation and 

an-ticipated risk premiums for each asset class. 

Mortality 

Healthy 

Disabled 

RP-2014 healthy mortality with blue collar adjustment, separate for male and female 

participants, adjusted with mortality improvement Scale MP-2014 from 2015. 

RP-2014 disabled mortality, separate for male and female participants, adjusted 

with mortality improvement Scale MP-2014 from 2015. 

The mortality rates are based upon historical and current demographic data, as well 

as future demographic expectations and professional judgment. 

Termination Sarason T-8 Table 

The termination rates are based upon historical and current demographic data, as 

well as future demographic expectations and professional judgment. 

 

Retirement Age 

Age 

Percent 

Retiring

55 20% 

56-61 5% 

62 25% 

63-64 5% 

65 70% 

66 50% 

67+ 100% 

If the participant had at least 20 years of Credited Service as of April 1, 2009, there 

is a one-time additional retirement incidence of 60% when the participant reaches 

age 55 and at least 25 years of Credited Service. This additional incidence applies 

immediately for participants who are already age 55 with 25 years of Credited 

Service. 

The retirement rates are based upon historical and current demographic data, as well 

as future demographic expectations and professional judgment. 

 

Employment 4,997 total months annually 
Schedule MB (2016), Line 6 - 

Summary of Actuarial Assumptions/Methods 

Local 805 Pension and Retirement Plan 

EIN: 13-1917612 PN: 001 

The future employment assumption is based upon the current Plan population, and 

includes input from the Plan sponsor regarding its expectation of future 

employment. 

 

Percent Married 80% 

 

Age of Spouse Females are 3 years younger than their spouses. 

The expected spouse age is based upon historical and current demographic data, as 

well as future demographic expectations and professional judgment. 

 

Expenses $440,000 payable at the beginning of the year 

 

Value of Assets Average Fair Market Value (without-phase-in). Averaging period is 3 years. 

Adjusted under the Pension Relief Act of 2010 for a 10-year recognition of the 

2008/2009 Plan Year loss. 

 

Funding Method Unit Credit 

 

Interest Rate for 

Withdrawal 

Liability: 

6.50% per annum 

 

RPA ’94 Current 

Liability 

Assumptions 

Interest: 3.23%; Last year 3.40% was used 

Mortality: RP-2000 per IRC §1.430(h)(3)-1 

 

Defined 

Contribution 

Dollars 

The liabilities were grossed up to include the value of the defined contribution plan 

for certain YRCW participants. Pursuant to the audit, this amount is $112,477 as 

of March 31, 2016. 

 

Assumption 

Changes 

The retirement assumption was change from: 

Participants with 20 years of Credited Service as of April 1, 2009 are assumed to 

retire 3.25 years following 25 years of Credited Service for those credits accrued 

through March 31, 2005. The remaining credits accrued after April 1, 2005 are 

assumed to be payable at age 55. 

Participants with fewer than 20 years of Credited Service as of April 1, 2009 are 

assumed to retire upon age 65 and 5 Years of Participation. 
Schedule MB (2016), Line 6 - 

Summary of Actuarial Assumptions/Methods 

Local 805 Pension and Retirement Plan 

EIN: 13-1917612 PN: 001 

To the following table: 

Age 

Percent 

Retiring

55 20% 

56-61 5% 

62 25% 

63-64 5% 

65 70% 

66 50% 

67+ 100% 

If the participant had at least 20 years of Credited Service as of April 1, 2009, there 

is a one-time additional retirement incidence of 60% when the participant reaches 

age 55 and at least 25 years of Credited Service. This additional incidence applies 

immediately for participants who are already age 55 with 25 years of Credited 

Service. 

The future service assumption was reduced from 5,910 months per year to 4,997 

months, due to an employer withdrawal. 

The assumed interest rate was changed from 6.75% per year to 6.50% 
Schedule MB (2016), Line 6 - 

Summary of Plan Provisions 

Local 805 Pension and Retirement Plan 

EIN: 13-1917612 PN: 001 

Summary of Plan Provisions 

Participation Immediate 

Credited Service Effective Definition 

March 31, 2010 and prior 1,000 hours equals one year 

April 1, 2010 and after 1/12th of a year for each month or part thereof 

for which a contribution is obligated to be 

made 

Vesting Credit 1,000 hours equals one year 

Break Year A year with less than 501 hours worked 

Suspension of Benefits A member’s benefit is suspended while working over the Hour Threshold 

while in Prohibited Employment. 

Prohibited 

Employment 

Work in an industry covered by the Plan in the same geographical area covered 

by the Plan 

 

Hours Threshold 40 hours per month, except as follows: 

Age

Credited 

Service 

Hours 

Threshold 

50 25 years 70 

65 15 years 70 

Normal Retirement Pension

Age requirement: 65 

 

Service requirement: Five years of Credited Service, or the fifth anniversary of participation 

 

Amount: 

(Preferred Schedule) 

Monthly Benefit per year of Credited Service 

Period YRC Non-YRC 

Prior to 4/1/2005 $100 $100 

4/1/2005-3/31/2006 $100 $0 

4/1/2006-3/31/2010 $50 $50 

4/1/2010 and after* 1% of 

contributions 

1% of 

contributions 

* The monthly accrual for this period is 1/12 of $50 per month of Credited 

Service earned until the Participant’s employer switched to the 1% formula. 

The accrual will not exceed $50 per month in any case. 

Minimum for Participants who worked prior to January 1, 1999 who earn 15 

or more years of Service Credit: 

 
Schedule MB (2016), Line 6 - 

Summary of Plan Provisions 

Local 805 Pension and Retirement Plan 

EIN: 13-1917612 PN: 001 

YRC Non-YRC

$2,500 $2,100 

 

Early Retirement Pension

Age requirement 55 

 

Service requirement 15 years of Credited Service 

 

Amount Normal Retirement actuarially reduced, with a minimum as below. 

Minimum for Participants who worked prior to January 1, 1999. 

 YRC Non-YRC 

55 $800 $672 

56 877 737 

57 991 833 

58 1,109 931 

59 1,247 1,048 

60 1,380 1,159 

61 1,559 1,309 

62 1,751 1,471 

63 1,950 1,638 

64 2,200 1,848 

65 $2,500 $2,100 

25-Year Service Retirement Pension

Rehabilitation Plan: Preferred Schedule 

The following was eliminated for all Participants except those with at least 20 years of Credited Service 

earned through April 1, 2009. 

Age requirement None 

 

Service requirement 25 years of Credited Service 

Must have worked on or after January 1, 1999 

 

Amount: Age Monthly Benefit 

Less than 55 Benefit earned prior to 4/1/2005 unreduced 

55 and older Entire benefit unreduced 

The benefit payable is based on the Participant’s age on the date the payment 

is made, not the age of retirement. 

Rehabilitation Plan: Default Schedule 

Removed from Plan for all Participants not in pay status 
Schedule MB (2016), Line 6 - 

Summary of Plan Provisions 

Local 805 Pension and Retirement Plan 

EIN: 13-1917612 PN: 001 

20-Year Service Pension

 

Rehabilitation Plan: Preferred Schedule 

The following was eliminated for all Participants except those with at least 20 years of Credited Service 

earned through April 1, 2009. 

Age requirement None 

 

Service requirement 20 years of Credited Service, with at least 20 years of Credited Service earned 

through April 1, 2009 

Must have worked on or after January 1, 1999 

 

Amount $1,250 per month 

 

Rehabilitation Plan: Default Schedule 

Removed from Plan for all Participants not in pay status 

 

Disability Retirement Pension

Rehabilitation Plan: Preferred Schedule 

Age requirement 55 

 

Service requirement 15 years of Credited Service 

 

Amount Normal Retirement Pension 

 

Rehabilitation Plan: Default Schedule 

Removed from Plan for all Participants not in pay status 

 

Vested Pension

Age requirement: None 

 

Service requirement: 5 years 

 

Amount: For Participants who did not work prior to January 1, 1999: 

The Early Retirement Pension or Normal Retirement Pension as appropriate 

For Participants with less than 15 years of Credited Service who worked prior 

to January 1, 1999, the greater of their actuarially reduced Early Retirement 

Pension, or the minimum Early Retirement Pension table above, multiplied by 

a fraction: 

 The numerator of the fraction is the Participant's years of Credited 

Service 

 The denominator of the fraction is 30 

 
Schedule MB (2016), Line 6 - 

Summary of Plan Provisions 

Local 805 Pension and Retirement Plan 

EIN: 13-1917612 PN: 001 

Pre-retirement death 

Married 

Age requirement: None 

 

Service requirement: 5 years 

 

Amount: 100% of the benefit Participant would have received had he retired the day 

before he died and elected the 100% joint and survivor option. Benefits 

commence to beneficiary when Participant would have first been eligible to 

retire. 

 

Non-Married None 

Post-retirement death 

 

Qualified Joint & Survivor 

Annuity 

If married, pension benefits are paid in the form of an actuarially reduced joint 

and survivor annuity unless this form is rejected by Participant and spouse. If 

rejected, or if not married, benefits are payable for the life of the Participant. 
Schedule MB (2016), Line 8b(1) - 

Schedule of Projection of Expected Benefit Payments 

Local 805 Pension and Retirement Plan 

EIN: 13-1917612 PN: 001 

Plan Year 

Expected Annual 

Benefit Payments

Current Plan Year $ 11,901,461 

Current Plan Year+1 12,974,338 

Current Plan Year+2 13,097,996 

Current Plan Year+3 13,134,666 

Current Plan Year+4 13,113,925 

Current Plan Year+5 7,288,259 

Current Plan Year+6 7,148,734 

Current Plan Year+7 7,101,214 

Current Plan Year+8 7,063,112 

Current Plan Year+9 7,009,801 
Schedule MB (2016), Line 8b(2) - 

Summary of Active Participant Data 

Local 805 Pension and Retirement Plan 

EIN: 13-1917612 PN: 001 

Years of Credited Service 

Age <1 1-4 5-9 10-14 15-19 20-24 25-29 30-34 35-39 40+ 

<25 1 15 

25-29 1 25 6 

30-34 17 18 5 

35-39 12 9 5 8 

40-44 1 17 16 2 14 

45-49 22 14 13 16 6 1 

50-54 1 7 15 9 17 12 5 2 1 

55-59 12 7 9 14 13 6 5 

60-64 3 6 4 10 6 3 3 2 

65-69 1 2 1 4 2 1 1 2 

 
Schedule MB (2016), Lines 9c and 9h - 

Schedule of Funding Standard Account Bases 

Local 805 Pension and Retirement Plan 

EIN: 13-1917612 PN: 001 

Amortization Charges as of April 1, 2016

Date 

Established: Base Type 

Outstanding 

Balance 

Years 

Remaining 

Amortization 

Amount 

2005 Combined and offset $ 20,743,457 10.927 $ 2,544,892 

2006 Actuarial Loss 4,220,388 10 551,245 

2006 Plan Amendment 464,432 25 35,751 

2007 Actuarial Loss 2,770,629 11 338,342 

2007 Plan Amendment 289,349 26 21,924 

2008 Actuarial Loss 3,098,338 12 356,580 

2009 Actuarial Loss 8,724,234 8 1,345,394 

2010 Actuarial Loss 246,606 9 34,788 

2011 Actuarial Loss 909,741 10 118,826 

2012 Actuarial Loss 1,553,651 11 189,728 

2013 Actuarial Loss 2,811,473 12 323,565 

2014 Actuarial Loss 520,022 13 56,779 

2015 Assumption Change 20,556,358 14 2,141,345 

2016 Actuarial Loss 5,475,101 15 546,753 

2016 Assumption Change 2,538,264 15 253,476 

 

Total Charges $74,922,043 $8,859,388 

Amortization Credits as of April 1, 2016 

Date 

Established: Base Type 

Outstanding 

Balance 

Years 

Remaining 

Amortization 

Amount 

2008 Funding Method $ (630,166) 2 $ (325,001) 

2008 Assumption Change (3,959,113) 7 (677,813) 

2009 Plan Amendment (RP) (443,876) 8 (68,452) 

2009 Method Change (2,676,578) 3 (948,930) 

2015 Experience Gain (429,525) 14 (44,743) 

 

Total Credits $ (8,139,258) $ (2,064,939) 

 

Total $ 66,782,785 $ 6,794,449 

Equation of Balance 

A. Net Outstanding Balance of Bases $66,782,785 

B. Credit Balance $ (36,717,078) 

C. Unfunded Actuarial Accrued Liability (A-B) $ 103,499,863 
Schedule MB (2016), Line 11 - 

Justification for Change in Actuarial Assumption 

Local 805 Pension and Retirement Plan 

EIN: 13-1917612 PN: 001 

To better reflect expected plan experience, the following assumptions have been changed: 

Participants with 20 years of Credited Service as of April 1, 2009 are assumed to retire 3.25 years following 

25 years of Credited Service for those credits accrued through March 31, 2005. The remaining credits 

accrued after April 1, 2005 are assumed to be payable at age 55. 

Participants with fewer than 20 years of Credited Service as of April 1, 2009 are assumed to retire upon age 

65 and 5 Years of Participation. 

To the following table: 

Age 

Percent 

Retiring

55 20% 

56-61 5% 

62 25% 

63-64 5% 

65 70% 

66 50% 

67+ 100% 

If the participant had at least 20 years of Credited Service as of April 1, 2009, there is a one-time additional 

retirement incidence of 60% when the participant reaches age 55 and at least 25 years of Credited Service. 

This additional incidence applies immediately for participants who are already age 55 with 25 years of 

Credited Service. 

The future service assumption was reduced from 5,910 months per year to 4,997 months, due to an employer 

withdrawal. 

The assumed interest rate was changed from 6.75% per year to 6.50%