Pacific Maritime Association

INDUSTRY BENEFITS The table to the right shows the number of pension benefit recipients by calendar year. Effective April 1, 1990, the Plan commenced payment of vested pension benefits to actively employed participants who had attained age 701���2 on or after July 1, 1988. These monthly payments, which are referred to as In-Service Distributions, are equal to the amount of the monthly pension to which the participant would be entitled if he retired, and the payments commence on April 1 of the year following his having attained age 701���2. The in-service distribution rules under the Plan were eliminated for participants reaching age 701���2 after the end of the 2002 calendar year. At the end of 2012, the Plan was paying $26,023,788 per month to 8,572 benefit recipients. ILWU-PMA Welfare Plan The ILWU-PMA Welfare Plan provides comprehensive health care and related benefits to qualified active and retired participants and their qualified dependents.��� NUMBER OF BENEFIT RECIPIENTS BY YEAR PENSIONERS SURVIVING SPOUSES Normal/ Dis- In- Sub- Early ability ServiceQDRO total 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Post- Pre- Retire Retire Subtotal Total 3,699 1,168 158 179 5,204 3,085 456 3,541 8,745 3,731 1,136138195 5,200 3,004487 3,4918,691 3,685 1,112120201 5,118 2,954496 3,4508,568 3,7761,097 96 2265,195 2,874 502 3,376 8,571 3,7631,055 83 2475,148 2,831 519 3,350 8,498 3,7501,018 71 2535,092 2,778 530 3,308 8,400 3,996999 60278 5,333 2,712545 3,2578,590 3,997983 54302 5,336 2,676553 3,2298,565 3,974970 45314 5,303 2,629571 3,2008,503 4,076964 36331 5,407 2,581584 3,1658,572 10 Indemnity��� and the ���Non-Industrial Disability Supplement��� benefits.��� �� Contributions to the Widows��� Independent Living Subsidy Program ceased in 2008.��� Tenure of the Agreement The Plan runs concurrently with the 2008-2014 Pacific Coast Longshore and Clerk���s Agreement.���Unless provided to the contrary, extension or renewal of the Pacific Coast Longshore and Clerks��� Agreement extends the Plan, and the Plan remains in effect for the period of the extension Number of Pension Benefit Recipients (thousands) Retirees, Pensioners and Surviving Spouses 8 Surviving Spouses 6 4 Pensioners 2 0 1992 1997 2002 2007 2012 or renewal.���If the Plan were to be terminated, the remaining assets of the Plan would be used for payment of benefits until the assets were exhausted.��� Plan Funding The Plan is primarily funded by PMA through employer assessments on tonnage and payroll hours.���If an employee is required to contribute to the California State Disability Insurance Program, the employee���s contribution to the Plan is reduced by the amount of the employee���s payment to that Program.��� The Trustees set the employee contribution rate.���In setting the rate, the parties customarily adhere to the annual recommendation of the Plan Consultant.���This is based on the sufficiency of the current rate of employee contributions in relation to the ���Weekly Two China Shipping vessels dock at the West Basin Container Terminal at the Port of Los Angeles. PACIFIC MARITIME ASSOCIATION 41

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