Historical Newspapers of South Carolina

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Page 4 * Summary Annual Reports* The Clinton Mills, Inc. Profit-Sharing Retirement Plan This is a summary of the annual report for the Clinton Mills, Inc. Profit-Sharing Retirement Plan, EIN 57-0783443, for January 1, 1985 to December 31, 1985. The annual report has been filed with the Internal Revenue Service, as required under the Employee Retirement Income Security Act of 1974 (ERISA). Basic Financial Statement Benefits under the plan are provided by a Trust Agreement. Plan expenses were $433,653. These expenses included $42,454 in administrative expenses and $391,199 in benefits paid to participants and beneficiaries. A total of 1,111 persons were participants in or beneficiaries of the plan at the end of the plan year. The value of plan assets, after subtracting liabilities of the plan, was $6,084,090 as of December31, 1985, compared to $5,792,231 as of January 1, 1985. During the plan year the plan experienced an increase in its net assets of $291,859. This increase includes unrealized appreciation or depreciation in the value of plan assets; that is, the difference between the value of the plan’s assets at the end of the year and the value of the assets at the beginning of the year or the cost of assets acquired during the year. The plan had total income of $725,512, which was earned from investments. Your Rights to Additional Information You have the right to receive a copy of the full annual report, or any part thereof, on request. The items listed below are included in that report: 1. An accountant's report; 2. Assets held for investment; 3. Transactions in excess of plan assets. To obtain a copy of the full annual report, or any part thereof, write to the office of John L. Wallace, who is the plan administrator. The charge to cover copying costs will be $2 for the full annual report, or $.25 per page for any part thereof. You also have the right to receive from the plan administrator, on request and at no charge, a statement of the assets and liabilities of the plan and accompanying notes, or a statement of income and expenses of the plan and accompanying notes, or both. If you request a copy of the full annual report from the plan administrator, these two statements and accompanying notes will be included as part of that report. The charge to cover copying costs given above does not include a charge for the copying of these portions of the report because these portions are furnished without charge. You also have the legally protected right to examine the annual report at the main office of the plan, Clinton Mills, Inc., 600 Academy Street, Clinton, S.C. 29325, and at the U.S. Department of Labor upon payment of copying costs. Requests to the department should be addressed to: Public Disclosure Room, N4677, Pension and Welfare Benefit Programs, Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20216. For assistance in obtaining a copy of available information, contact the personnel manager in your work area. John L. Wallace Benefit Plan Administrator Clinton Mills Drawer 1215 Clinton, S.C. 29325 The Clinton Mills, Inc. Retirement Plan This isa summary of the annual report forthe Clinton Mills, Inc. Retirement Plan, EIN 57-0783443 for January 1, 1985, to December 31, 1985. The annual report has been filed with the Internal Revenue Service, as required under the Employee Retirement Income Security Act of 1974 (ERISA). Basic Financial Statement Benefits under the plan are provided by a Trust Agreement. Plan expenses were $114,982. These expenses included $13,750 in administrative expenses and $101,232 in benefits paid to participants and beneficiaries. A total of 2,309 persons were participants in or beneficiaries of the plan at the end of the plan year, although not all of these persons had yet earned the right to receive benefits. The value of plan assets, after subtracting liabilities of the plan, was $2,735,090 as of December31, 1985, compared to $2,506,881 as of January 1,1985. During the plan year the plan experienced an increase in its net assets of $228,209. This increase includes unrealized appreciation or depreciation in the value of plan assets; that is, the difference between the value of the plan’s assets at the end of the year and the value of the assets at the beginning of the year or the cost of assets acquired during the year. The plan had total income of $256,790, includinggains of $110,737 from the sale of assets, and earnings from investments of $146,053. Your Rights to Additional Information You have the right to receive a copy of the full annual report, or any part thereof, on request. The items listed below are included in that report: 1. An accountant’s report; 2. Assets held for investment; 3. Transactions in excess of 3 percent of plan assets; 4. Actuarial information regarding the funding of the plan. To obtain a copy of the full annual report, or any part thereof, write to the office of John L. Wallace, who is the plan administrator. Thecharge to cover copying costs will be $3 for the full annual report, or $.25 per page for any part thereof. You also have the right to receive from the plan administrator, on request and at no charge, a statement of the assets and liabilities of the plan and accompanying notes, or a statement of income and expenses of the plan and accompanying notes, or both. If you request a copy of the full annual report from the plan administrator, these two statements and accompanying notes will be included in that report. The charge to cover copying costs given above does not include a charge for the copying of these portions of the reports because these portions are furnished without charge. You also have the legally protected right to examine the annual report at the main office of the plan, Clinton Mills, Inc., 600 Academy Street, Clinton, S.C. 29325, and at the U.S. Department of Labor in Washington, D.C., or to obtain a copy from the U.S. Department of Labor upon payment of copying costs. Requests to the department should be addressed to: Public Disclosure Room, N4677, Pension and Welfare Benefit Prog rams, Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20216. For assistance in obtaining a copy of available nformation, ontact the personnel manager in your work area. John L. Wallace Benefit Plan Administrator Clinton Mills Drawer 1215 Clinton, S.C. 29325 The Clinton Mills, Inc. Group Insurance Plan This isa summary of the annual report for the Clinton Mills, Inc. Group Insurance Plan, EIN 57-0783443, for July 1,1985, to December31,1985. The annual report has been filed with the Internal Revenue Service, as required under the Employee Retirement Income Security Act of 1974 (ERISA). Insurance Information For the period covered by this report, life, health and temporary disability income claims were paid by Aetna Life Insurance Company. The total amount paid to Aetna Life which was required to fund the Plan was $1,461,509. Your Rights to Additional Information You have the right to receive a copy of the full annual report, or any part thereof, on request. Included in the annual report is insurance information provided by Aetna Life Insurance Company. To obtain a copy of the full annual report, or any part thereof, write to the office of John L. Wallace, who is the Plan Administrator. The charge to cover copying costs will be $1.50 for the full annual report, or $.25 per page for any part thereof. You also have the legally protected right to examine the annual report at the main office of the plan, Clinton Mills, Inc., 600 Academy Street, Clinton, S.C. 29325, and at the U.S. Department of Labor in Washington, D.C., or to obtain a copy from the U.S. Department of Labor upon payment of copying costs. Requests to the department should be addressed to Public Disclosure Room, N4677, Pension and Welfare Benefit Prog rams, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20216. For assistance in obtaining a copy of available information, contact someone in the personnel office in your area. John L. Wallace Benefit Plans Administrator Drawer 1215 Clinton, S.C. 29325