AMO Vacation Plan Summary Annual Report: 10/1999-9/2000

AMO Vacation Plan Summary Annual Report: 10/1999-9/2000

      This is a summary of the annual report of the AMERICAN MARITIME OFFICERS VACATION PLAN, EIN 11-1929852. Plan No. 501, for the period October 1, 1999 through September 30, 2000. The annual report has been filed with the Pension and Welfare Benefits Administration, as required under the Employee Retirement Income Security Act of 1974 (ERISA).

Basic Financial Statement
      The value of plan assets after subtracting liabilities of the plan, was $5,009,192 as of September 30, 2000, compared to $3,480,460 as of October 1, 1999. During the plan year, the plan experienced an increase in net assets of $1,528,732. During the plan year, the plan had total income of $51,477,887 including employer contributions of $50,579,830, interest income of $384,996, and other income of $513,061. Plan expenses were $49,949,155. These expenses included $1,508,636 in administrative expenses and $48,440,519 in benefits paid to participants.

Your Rights To Additional Information
      You have the right to receive a copy of the full annual report, or any part thereof, on request. The items listed below are included in that report:

An accountant's report;
Financial information and information on payments to service providers;
Assets held for investment; and
Fiduciary information, including non-exempt transactions between the plan and parties-in-interest (that is, persons who have certain relationships with the plan).

      To obtain a copy of the full annual report, or any part thereof, write or call Jan Vitale, who is the Director of Finance, AMERICAN MARITIME OFFICERS VACATION PLAN, 2 West Dixie Highway, Dania Beach, FL 33004 (954) 920-4247. The charge to cover copying costs will be $2.70 for the full annual report, or 10 cents per page for any part thereof.
      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 a part of that report. The charge to cover copying costs given above does not include a charge for the copying of these portions of the report because these portions are furnished without charge.
      You also have the legally protected right to examine the annual report at the main office of the plan (Board of Trustees of the AMERICAN MARITIME OFFICERS VACATION PLAN, 2 West Dixie Highway, Dania Beach, FL 33004) and at the U.S. Department of Labor in Washington, DC, or to obtain a copy from the U.S. Department of Labor upon payment of copying costs. Requests to the Department should be addressed to: Public Disclosure Room, N-5638, Pension and Welfare Benefits Administration, U.S. Department of Labor, 200 Constitution Avenue, NW, Washington, DC 20210.

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