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Review of 2010:
During the year, approximately $50.0 million was contributed to the Plan by participating employers and $30.1 million by employees. Payments made by the Plan to its beneficiaries were $243.5 million. Most of these payments were made to pensioners and/or their spouses, while the balance was paid for other reasons such as death benefits or a withdrawal of contributions. At the end of 2010, approximately 24,845 people were receiving monthly retirement benefits from the Plan.
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The market value of the Plan’s assets varies over time. At December 31, 2009, the Plan’s investments had an estimated market value of $2.76 billion. Plan contributions by members and participating employers add to assets, as do positive rates of return on investments. Pension payments to retired members and negative returns reduce the market value of Plan assets.
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Market Rates of Return (Annualized)
During the year, approximately $50.0 million was contributed to the Plan by participating employers and $30.1 million by employees. Payments made by the Plan to its beneficiaries were $243.5 million. Most of these payments were made to pensioners and/or their spouses, while the balance was paid for other reasons such as death benefits or a withdrawal of contributions. At the end of 2010, approximately 24,845 people were receiving monthly retirement benefits from the Plan.
Market performance in 2008 and 2009 has reminded all investors that any one year is unpredictable and can be volatile. It is important to keep in mind that long-term performance is most significant for a pension plan because benefits are paid to members over very long periods of time. Over the last ten years, for example, the Plan's investment returns have averaged 6.2% versus a benchmark of 5.0%. During this ten-year period, however, returns have reached as high as 17.1% and as low as -18.4%.
Market Rates of Return (Annualized)
| 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | Last 10 years |
| 10.1% | 17.1% | -18.4% | 4.1% | 15.4% | 15.2% | 6.2% |