Summary Annual Report for the Kalamazoo College Defined Contribution Plan

This is a summary of the annual report for the KALAMAZOO COLLEGE DEFINED CONTRIBUTION PLAN, EIN 38-1358014, Plan number 001 for the period January 1, 2018 to December 31, 2018. The annual report has been filed with the Employee Benefits Security Administration, as required under the Employee Retirement Income Security Act of 1974 (ERISA).

Basic Financial Statement

Benefits under the plan are provided through insurance and/or annuity contracts by a trust.

Plan expenses were $6,813,493. These expenses included $36,000 in administrative expenses and $6,777,493 in benefit payments. A total of 914 persons are participants in or beneficiaries of the plan at the end of the plan year, although some may not have earned the right to receive benefits.

The value of plan assets, after subtracting liabilities of the plan, was $105,628,926 as of December 31, 2018, compared to $112,342,436 as of January 1, 2018. During the year the plan experienced an increase (decrease) in its net assets of $(6,713,510). This increase (decrease) 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 $99,983, including employer contributions of $1,958,726, employee contributions of $1,906,642 and net earnings from investments of $(3,832,070).

The plan has a contract with TIAA-CREF which allocates funds toward group deferred annuities.

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:

  • An accountant’s report;
  • Financial information and information on payments to service providers
  • Assets held for investment;
  • Insurance information including sales commissions paid by insurance carriers
  • Information regarding any common or collective trusts, pooled separate accounts, master trusts or 103-12 investment entities in which the plan participates

To obtain a copy of the full annual report, or any part thereof, write or call the office of the plan administrator:

Kalamazoo College
Plan Administrator
1200 Academy Street
Kalamazoo, MI 49006

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. These portions of the report are furnished without charge.

You also have the legally protected right to examine the annual report at the main office of the plan:

Kalamazoo College
Plan Sponsor
1200 Academy Street
Kalamazoo, MI 49006

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:

U.S. Department of Labor
Employee Benefits Security Administration
Public Disclosure Room
200 Constitution Avenue, N.W.
Room N-1513, Washington, DC 20210