No. 192 - February 2010

To: Participants with a Deferred Benefit
From: Howard Van Mersbergen, Executive Secretary-Treasurer

Status Report - Important information on your status with the Plan

Retirement Calculations Online - Request a calculation to help plan for retirement

Retirement Checklist - Helpful steps toward retirement

Interest Rate - Credited to your contribution account

Investments - Year end assets and returns

Contact CSI for Support - Contact us if you have questions or need assistance

Status Report

Enclosed is your annual status report containing information regarding your status with the Plan as of August 31, 2009. Be sure to check the information carefully and contact us promptly if it is incorrect or incomplete, or if your records do not agree with ours. Please check that your designated beneficiary is current. If you need to change your beneficiary, you can get a Change of Beneficiary form from the Employee Benefits section of the CSI Website, http://www.CSIonline.org/benefits.

Retirement Calculations Online

We will be more than happy to do retirement calculations for you and project your benefit to your retirement date. We can do these calculations for more than one retirement date. Just call us at 877-274-8796, ext. 227 or e-mail us at and include your expected retirement date.

Retirement Checklist

The enclosed retirement checklist suggests steps you can take regarding your participation in the CSI Pension Plan to prepare for retirement. Choose the checklist that is applicable and complete the steps to work towards your retirement goals.

Interest Rate

The Trustees confirmed 3.45% as the interest rate to be credited to the participant’s contribution account for 2009/2010 (the rate was 4.16% for 2008/2009). The rate is mandated by government regulations as 120% of the Federal Mid-Term Rate as of September 2009.

Investments

At the Plan’s year end on August 31, 2009, the Trust Fund’s net equity consisted of investments having market values in excess of $496 million. The asset composition was 1% cash or cash equivalents, 40% fixed-income securities, and 59% equities. The total investment portfolio’s time-weighted annual rate of return through September 30, 2009, was 7.2% for the past year, 0.5% for the past three years and 4.5% for the past five years. The actuarially assumed interest rate is 7.5%. The Plan’s most recent actuarial valuation showed the Plan to be fully funded.

Contact CSI for Support

More information about CSI’s benefit plans is located on our web site at http://www.CSIonline.org. Select Employee Benefits and the appropriate plan. If you have questions, contact Merrilee Kwantes at 616-284-3227 or toll free at 877-274-8796, ext. 227 or contact her by email at .

 

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