SUMMARY ANNUAL REPORT FOR OCCIDENTAL COLLEGE EMPLOYEES FOR 2014
This is a summary of the annual report for College-sponsored benefit plans, 95-1667177 for 2014. Annual reports for each plan
have been filed with the Internal Revenue Service, as required under the Employee Retirement Income Security Act of 1974
(ERISA).
Basic Financial Statements
1) 403(b) Retirement Plan: Benefits under the plan are provided by insurance and a trust fund. Plan expenses
were $11,555,926. These expenses included $37,500 in administrative expenses and $11,518,426 in benefits
paid to participants and beneficiaries. A total of 1545 persons were participants in or beneficiaries of the plan
at the end of the plan year, although not all of these persons had yet earned the right to receive benefits.
The value of the plan assets, after subtracting liabilities of the plan, was $180,046,588 as of December 31,
2014, compared to $173,534,779 as of January 1, 2014. During the plan year the plan experienced an
increase in its net assets of $6,511,809. This increase includes unrealized appreciation and depreciation in the
value of plan assets; that is, the difference between the value of the plan'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 plan had
total income of $18,020,737, including employer contributions of $4,106,077, employee contributions of
$3,109,422, other contributions of $571,345, earnings from investments of $10,193,436, and other income of
$40,616.
2) Business Travel Plan: The plan has a contract with Hartford Accident and Indemnity Company to pay all
3)
4)
claims incurred under the terms of the plan. The total premiums paid for the year beginning January 1, 2014
and ending December 31, 2014 were $3,615.
Long-Term Disability Plan: The plan had a contract with UNUM Life Insurance Co. to pay claims incurred
under the terms of the plan. The total premiums paid for the plan year beginning January 1, 2014 to
December 31, 2014 were $156,414.
Medical, Life and Dental Plans: Each plan had a separate contract with the insurance carriers noted below
to pay claims under the terms of the plan and total premiums paid for the plan year beginning January 1,
2014 and ending December 31, 2014 were as follows:
Benefit Plan
Insurance Carrier
Premiums
Kaiser Health Plan
Kaiser Foundation Health
$3,792,947
Plan
Group Medical Plan
(HMO and POS)
Health Net
Group Life Insurance
Prudential Life Insurance
$162,538
Co./ US Life Insurance
Group Dental Plan
Delta Dental
$2,663,958
$533,228
The insurance premiums reflected above include sales commissions paid by the insurance carriers.
Your Right to Additional Information With respect to each plan, you have the right to receive a copy of the full annual
report or any part thereof, including insurance information, on request. To obtain a copy of the full annual report, or any part
thereof, write or call the office of the Director of Human Resources, 1600 Campus Road, Los Angeles, CA 90041, (323) 2592613.
You also have the legally protected right to examine the annual report at the main office of the plan, Human Resources
Department, 1600 Campus Road, Los Angeles, CA 90041, and at the U.S. Department of Labor in Washington, D.C. or to
obtain a copy from the U.S. Department of Labor upon payment of copying costs. Requests to the Department of Labor should
be addressed to: Public Disclosure Room, N4677, Pension and Welfare Benefits Program, Department of Labor, 200
Constitution Avenue, N.W., Washington, D.C. 20216.
September 30, 2015