This is a summary for the Annual Report for
the death benefit program (the plan) for the Widows’ and Orphans’ Aid
Association of the Police Department of San Francisco (the “Association”), EIN:
94-0981411, for its Plan Year (the “Plan Year”) ending December 31, 2019.
The Annual Report has been filed with the Internal Revenue Service as required
under the Employee Retirement Income Security Act of 1974 (“ERISA”).
The Association has committed itself to pay all claims under the terms of the
Plan. The Plan maintains an investment portfolio managed by KCM
Investments/Charles Schwab Investment Group.
The value of the Plan assets after subtracting liabilities of
the Association was $7,591,405 as of January 1, 2019 compared to $7,862,151.52
as of December 31, 2019. This increase includes unrealized appreciation and
depreciation in the value of the Association’s assets, that is, the difference
between the value of the Association’s assets at the end of the year, and the
value of the assets at the beginning of the year, or the cost of assets acquired
during the year. The change in the market value of the Association’s assets
during the year was a increase of $270,746.52. During the year covered by this
Summary Report, after subtracting liabilities, the Association experienced a
net increase in assets of 162,202.00
Your Rights to Additional Information
You have the right to receive a full copy of the Summary Annual Report, or any part thereof, upon request. The report includes the following components:
– An
Accountant’s Report
– Assets for Investment
– Fiduciary information, including
transactions between the Plan and the parties of
interest:
(i.e. persons who specified
relationships with the Plan)
– Loans and other obligations which may be
in default
– Transactions in the excess of 3% of Plan
assets
To obtain a full copy of the Annual Report, or any part thereof, call or write the Widows’ and Orphans’ Aid Association, P.O. Box 4247, San Rafael, CA 94913-4247. The telephone number is 415 681-3660. The charge to copy the full report is $5.00, or $.25 per page.
You also have the right to receive from the Plan Administrator, upon request and at no cost, a statement of the assets and liabilities of the Plan and accompanying notes, or a statement of the 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 are included as part of that report.
You also have the legally protected right to examine the Summary Annual Report at our main business office location of the Plan, 850 Bryant Street, room #150, San Francisco, CA 94103-4603, and at any location where the report is maintained for inspection. You may also examine the Annual Report at the U.S. Department of Labor in Washington D.C., or obtain a copy from the U.S. Department of Labor, upon payment of copying fees, by writing to the Public Disclosure Room N1513, Employee Benefits Security Administration (EBSA), U.S. Department of Labor, 200 Constitution Avenue, N.W. Washington D.C. 20210-0001. The most expedient method for examining and printing this report is to query our website at sfwidowsandorphans.org, where a copy of the report is posted each year.
During the Plan Year the Association had $846,252 in total income, including $506,930. in member dues and fees, dividends and interest of $238,000. and direct contributions of $2300.00. Plan expenses were $595,400.00 in paid benefits to member’s beneficiaries, $15,850. in accounting and legal fees, $10,800.00 in administrative expenses including insurance costs, office supplies, copying, postage and mailing costs, utilities, Trustee stipends and other incidental operating expenses. The net payroll for the plan year was $62,000. The payroll taxes for the plan year were $18,000.00 The operating expenses for the year were $684,050.
The Association reported 36 member deaths in
2019; their names and ages appear below, Chronologically by notification:
Kevin Conroy (90)
Norman McHugh (90)
Ed Packard (82, reported this year, passed away in 2018)
Rich Arambula (73)
Michael L. Byrne (75)
Donald Wilson (84)
William Mills (95)
Thomas Easton (89)
Timothy Simmons ( 83)
Kippie Locati (72)
George Schreck (93)
Peter Williams (90)
Willis Garriott (74)
Paul Lawler (94)
Alfred Matteoni (85)
Bruce Marovich (75)
Clarence Smith (95)
Joseph McCarthy (83)
George Bonnano (87)
Jeff Brogan (72)
Thomas Gordon (94)
Fred Kozy (86)
Ignacio Martinez (59)
Hank Fikkers (75)
Richard Kain (79)
William Parenti (86)
Gerald Blume (86)
William Winters (92)
Richard Janese (68)
David Vizcay (50)
Dennis O’Connell (85)
Donald Lando (92)
Mike Toropovsky (62)
Barbara Pinelli (56)
James “Bruce” Jones (92)
Rodney Lee (57)
The Officers and Trustees of the Association for 2019 were President Ray Kane,
Vice President James O’Meara, Secretary Mark J. McDonough, Treasurer Dean
Taylor, and Trustees Al Luenow, Rob Forneris, Ryan Walsh, Louis Barberini, and
Leroy Lindo. The Association Administrative Assistant was Sally Foster.
The Association was able to meet all obligations this past year. Our
change in our investment group realized positive gains. We show $162,202.00 in
net profit for the year 2019. The death Benefit is currently $17,500.00. Our
dues are currently $100.00 annually. It is very important that members have
documented a correct beneficiary designation. If you currently receive a bill
for your annual membership dues, you may contact The Police Credit Union, or
your bank of choice to arrange for automatic payment of your yearly dues. The
Association can also be reached by email at markmac825@comcast.net.