Christian School Pension Plan and Trust Fund Summary Annual Report

This is a summary of the annual report for the Christian School Pension Plan and Trust Fund, Identification Number: 38-2626724, for the year ending August 31, 2006. The annual report has been filed with the Employee Benefits Security Administration as required under the Employee Retirement Income Security Act of 1974 (ERISA).

Basic Financial Information

Benefits under the Plan are provided by contributions paid to the Christian School Pension Plan and Trust Fund. Plan expenses were $20,040,781. These expenses included $3,076,442 in administrative expenses and $16,964,339 in benefits paid to participants and beneficiaries. A total of 9,811 persons were participants in or beneficiaries of the Plan at the end of the Plan Year, although not all these persons had yet earned the right to receive benefits.

The value of Plan assets, after subtracting liabilities of the Plan, was $512,059,561 as of August 31, 2006, compared to $474,419,135 as of September 1, 2005. During the Plan Year, the Plan experienced an increase in its net assets of $37,640,426. The Plan’s total income of $57,681,207 included employer contributions of $8,157,693, employee contributions of $8,157,693, miscellaneous income of $179,961, and earnings from investments of $41,185,860.

Minimum Funding Standards

An actuary’s statement shows enough money was contributed to the Plan to keep it funded in accordance with the minimum funding standards of ERISA.

Your Rights to Additional Information

You have the right to receive a copy of the full annual report, or any part thereof, on request. It includes such information as an accountant’s report, assets held for investment and actuarial information. To receive a copy of all or part of the report, write or call:

Director, CSI Employee Benefit Plans
3350 East Paris Avenue SE
Grand Rapids MI 49512
(616) 957-1070

A charge will be made to cover copying costs of 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 liabilities 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 set forth above does not include a charge for the copying of these portions of the report because these portions are furnished without charge.

You may examine the annual report at the main office of the Plan, 3350 East Paris Avenue SE, Grand Rapids, Michigan, and at the US Department of Labor in Washington DC, or obtain a copy from the US Department of Labor upon payment of copying costs. Requests to the Department of Labor should be addressed to:

Public Disclosure Room, N-1513
Employee Benefits Security Administration
US Department of Labor
200 Constitution Avenue NW
Washington DC 20210

Full Issue: No. 181 - May 29, 2007

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