Robert D. Booth and Janice Booth, et al. - Page 54

                                       - 54 -                                         
               On March 11, 1991, IFTI forwarded the 1989 annual report for           
          On-Site's account in the Prime Plan to Mr. Traegde.  This report            
          included an actuarial valuation signed by Deloitte & Touche, and            
          it listed nine other employees of On-Site, none of whom qualified           
          for a 1989 vested severance benefit.  In order to accommodate On-           
          Site's 1989 contribution, the accrual percentage for DWB's was              
          increased from 25.54 percent to 27.220 percent.  The 1989 report            
          acknowledged a $50,000 contribution from On-Site, and applied the           
          $50,000 amount to the increase in DWB's allowed because of the              
          change in the accrual percentage, the increase due to the                   
          increased vesting of Mr. Traegde, and the increase due to the               
          cost of death benefits.                                                     
               The annual reports for On-Site's account in the Prime Plan             
          listed the following relevant data:                                         
                         1988           1989      1990      1991                      
          Fund value at yearend         $99,996      $138,653       $158,161       $167,047
          Policy values                  99,996       138,653        157,814        167,055
          Surrender value              Unstated      Unstated        136,959        147,056
          Addit. contr. available           (11)            2         61,519        128,443
          Date of report               03/11/91      03/11/91       07/10/91       01/20/93
                              1992         1992           1993            1993       1994
          Fund value at yearend         $177,095     $177,095        $184,012       $176,364   $148,625
          Policy values                  177,103      177,103         186,612        178,964    177,545
          Surrender value                157,104      157,104         166,613        161,097    162,772
          Addit. contr. available        202,263      197,155         248,761        243,663    296,318
          Date of report                   09/94        03/95           09/94    03/95;10/95      10/95
               On March 31, 1989, Prime forwarded to On-Site its 1988                 
          summary plan description.  On April 4, 1990, Prime forwarded to             
          On-Site its 1989 summary plan description.  On February 24, 1993,           
          Prime forwarded to On-Site its summary plan description with                
          amendments through January 1992.                                            





Page:  Previous  44  45  46  47  48  49  50  51  52  53  54  55  56  57  58  59  60  61  62  63  Next

Last modified: May 25, 2011