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The Form 5500 for the Defined Benefit Plan for the plan year
ended October 31, 1990, reports that the Defined Benefit Plan was
terminated during this plan year, that a termination resolution
was adopted this plan year, and that no trust assets reverted to
the employer. It further reports that there was $257,639 of
contributions that was more than 3 months due. In addition, it
reports the following information:
Assets Beginning of year End of year
Cash $646 $2,295
Receivables 38,922 40,063
Investments
Real estate and mortgages -0- 137,270
Loans to participants:
Mortgages -0- -0-
Other 152,112 -0-
Total investments 152,112 137,270
Total assets 191,680 179,628
Liabilities
Total liabilities -0- -0-
Net assets 191,680 179,628
The Form 5500 also reports expenses of $20,653 which represented
distribution of benefits directly to participants.
The Schedule B for the year ended October 31, 1990, reports
$423,4767 as the current value of assets accumulated as of the
beginning of the year. It reports $341,583 in total vested
benefits, $9,900 to one terminated participant, and $331,683 to
7This $423,476 includes the prior year funding deficiency of
$231,796. $423,476 - $231,796 = $191,680.
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