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$640,383 as of June 30, 1987. The cost and present value (as of
the time of purchase) of the group annuity contract was $382,467.
The aggregate value of the Profit Sharing Plan's accumulated
vested account balances was $413,746, as of June 30, 1988. The
cost and present value (as of the time of purchase) of the group
annuity contract was $56,031.
Products distributed annual benefits statements to Pension
Plan participants through the plan year ending June 30, 1991.
Annual benefits statements were not distributed thereafter.
Products filed Form 5500 for all plan years until the plan year
ending June 30, 1991. For the plan years ended June 30, 1988,
June 30, 1989, and June 30, 1990, Products stated on Form 5500
that the Pension Plan had not been terminated. On Form 5500 for
the plan year ended June 30, 1991, Products disclosed that the
Pension Plan had been terminated.
For the plan year ended June 30, 1988, Products stated on
Form 5500 that the Money Purchase Plan had not been terminated.
For the plan years ending on June 30, 1989 and June 30, 1990,
Products stated that the Profit Sharing Plan had not been
terminated. Products did not file Form 5500 for the Profit
Sharing Plan thereafter.
During the plan years ended June 30, 1991, only 15 of 66
eligible employees were benefiting under both the Pension Plan
and Profit Sharing Plan. Fifty-one eligible employees were
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