Pacific Maritime Association

S TATIS TI CAL ��� I N F ORMATI ON Pension Benefits CHANGES IN NET ASSETS AVAILABLE FOR PENSION BENEFITS The data in the table below are obtained from the audited annual financial statements of the ILWU-PMA Pension Plan. The records for the Plan are maintained on the accrual basis of accounting; each Plan Year ends June 30. For Plan Year Ended June 30: 2012 2011 Benefits Paid and Expenses Pensions paid Administrative expenses Total Deductions $ 298,059,481 6,116,737 $ 304,176,218 $ Investment Income and Employer Contributions Net appreciation of fair value of investments Interest Dividends from investments Less investment expense Total Income Gain (Loss) Contributions from Employers Miscellaneous Income Total Additions (Subtractions) Net Increase (Decrease) Net Assets Avail for Benefits: Beg. of Year End of Year $ (33,212,644) 17,316,573 49,591,569 (6,164,184) $ 27,531,314 457,504,645 ��� $ 485,035,959 180,859,741 $ 2,729,094,148 $ 2,909,953,889 $ $ $ $ $ $ 2010200920082007 268,308,942 5,241,442 273,550,384 $ 419,928,367 19,383,868 41,729,497 (5,884,035) 475,157,697 388,250,000 ��� 863,407,697 589,857,313 2,139,236,835 2,729,094,148 $ $ $ $ $ $ 257,749,435 5,133,109 262,882,544 $ $ 123,723,731 23,491,904 35,738,728 (5,852,488) 177,101,875 387,474,044 ��� 564,575,919 301,693,375 1,837,543,460 2,139,236,835 234,096,522 $ 5,084,654 239,181,176 $ $ (548,928,868) 32,840,188 39,370,795 (5,911,844) $ (482,629,729) 248,742,375 ��� $ (233,887,354) (473,068,530) $ 2,310,611,990 $ 1,837,543,460 221,824,522 4,384,463 226,208,985 $ (222,528,309) 34,294,086 42,501,468 (7,036,826) $ (152,769,581) 171,950,979 532 $ 19,181,930 (207,027,055) $ 2,517,639,045 $ 2,310,611,990 $ $ $ $ $ $ $ 206,499,082 4,465,862 210,964,944 289,716,373 23,399,794 37,427,476 (7,630,713) 342,912,930 146,450,398 364,618 489,727,946 278,763,002 2,238,876,043 2,517,639,045 EMPLOYER WITHDRAWAL LIABILITY Multi-employer plans are required by the Multi-employer Pension Plan Amendments Act of 1980 to establish procedures for the determination and imposition of withdrawal liability upon the withdrawal of a contributing employer. Under special rules approved by the Pension Benefit Guaranty Corporation, the ILWU-PMA Pension Plan will impose withdrawal liability for a withdrawal where the employer a) during the 5 years following withdrawal continues or resumes covered operation without an obligation to make contributions or b) sells or transfers all or a substantial portion of its business or assets to a non-contributing employer. An employer that simply goes out of business will generally have no withdrawal liability. To satisfy the withdrawal requirement, the Plan uses the presumptive method for the computation of withdrawal liability. The presumptive method bases such liability on certain components of the Plan���s unfunded vested benefits liability. The unfunded vested benefits liability for the Plan Year ended June 30 is shown below. The benefits reflected in the calculation for active employees include only retirement benefits already accumulated, already vested and for which the active employees qualified as a result of age and service through June 30. Vested Liabilities as of Plan Year Ended June 30: Retired Participants & Beneficiaries Inactive Vested Active Vested Employees Total Present Value Vested Liabilities Actuarial Value of Assets Unfunded Vested Benefits Liability 20122011 2010200920082007 $ 2,504,828,890 $ 2,338,720,216 12,472,83911,547,356 1,495,950,751 1,316,277,562 $ 4,013,252,480 $ 3,666,545,134 $ 2,868,872,258 $ 2,633,066,799 $ 1,144,380,222 $ 1,033,478,335 $ 2,213,070,879 11,178,116 1,199,985,307 $ 3,424,234,302 $ 2,522,553,618 $ 901,680,684 $ 2,045,222,201 $ 8,606,033 1,221,160,824 $ 3,274,989,058 $ $ 2,205,052,152 $ $ 1,069,936,906 $ 1,854,505,823 5,876,744 1,186,518,865 3,046,901,432 2,466,948,451 579,952,981 $ 1,784,732,194 5,563,507 994,427,704 $ 2,784,723,405 $ 2,353,789,877 $ 430,933,528 ACTUARIAL ACCRUED LIABILITY The actuarial accrued liability is the amount which, together with assumed investment earnings, will be sufficient to pay earned retirement benefits for the lifetimes of those Plan participants eligible for retirement benefits. The difference between net assets and total actuarial accrued liability is the unfunded actuarial accrued liability. 2012 20112010200920082007 Actuarial Accrued Liability July 1: Actuarial Value of Assets Actuarial Liability: Pensioners/Survivors Inactive Vested Active Employees Total Actuarial Liability Unfunded Actuarial Accrued Liability $ 2,868,872,258 $ 2,633,066,799 2,690,431,597 2,513,302,386 13,397,05112,515,033 2,319,520,560 2,166,810,917 $ 5,023,349,208 $ 4,692,628,336 $ 2,154,476,950 $ 2,059,561,537 $ 2,522,553,618 $ 2,205,052,152 2,243,258,011 11,241,278 1,886,912,069 $ 4,141,411,358 $ 1,618,857,740 2,078,811,766 8,685,216 1,956,977,578 $ 4,044,474,560 $ 1,839,422,408 $ 2,466,948,451 1,935,615,589 6,110,066 1,959,948,905 $ 3,901,674,560 $ 1,434,726,109 $ 2,353,789,877 1,884,737,419 5,876,272 1,748,626,488 $ 3,639,240,179 $ 1,285,450,302 ILWU-PMA SUPPLEMENTAL WELFARE BENEFIT PLAN 201220112010200920082007 For Plan Year Ended June 30: Contributions by employer Deductions: Benefits paid Administrative expenses Total deductions $ ��� $ ��� ��� ��� $ 22,953,254 $ 22,759,922 193,902 22,953,824 $ 25,190,376 $ 24,993,061 198,202 25,191,263 $ 27,422,007 $ 27,233,339 192,557 27,425,896 $ 29,713,308 $ 29,546,592 169,311 29,715,903 $ $ 30,079,040 29,908,680 172,131 30,080,811 The ILWU-PMA Supplemental Welfare Benefit Plan was discontinued as of July 1, 2011. These benefits were incorporated into the ILWU-PMA Pension Plan. PACIFIC MARITIME ASSOCIATION 67

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