NEBO Summary Annual Report

Below you'll find the summary annual report for NEBO, the Nationwide Employee Benefits Organization.  NEBO is where we get our vision, dental and life insurance.  For details on the benefits you should see www.neboonline.org.  Federal law requires that the report be provided to everyone on the plan, and so here it is and if you need it in the future it will remain in our blog archives and is also available on the NEBO website. 

If you have any questions or concerns please let me know.

SUMMARY ANNUAL REPORT

For Legal Services Nationwide Employee Benefits Organization Group Life and Health Insurance

This is a summary of the annual report of the Legal Services Nationwide Employee Benefits Organization Group Life and Health Insurance, EIN 94-2745585, Plan No. 510, for period January 01, 2009 through December 31, 2009.  The annual report has been filed with the Employee Benefits Security Administration, U.S. Department of Labor, as required under the Employee Retirement Income Security Act of 1974 (ERISA).

Insurance Information

The plan has contracts with United HealthCare Insurance Company, Unum Life Insurance Company of America, Standard Insurance Company, Metropolitan Life Insurance Company, California Physicians Service and Vision Service Plan to pay Medical, Dental, Vision, Life insurance, Short-term Disability, Long-term Disability and Accidental Death and Dismemberment claims incurred under the terms of the plan.  The total premiums paid for the plan year ending December 31, 2009 were $2,213,944.

Because they are so called "experience-rated" contracts, the premium costs are affected by, among other things, the number and size of claims.  Of the total insurance premiums paid for the plan year ending December 31, 2009, the premiums paid under such "experience-rated" contracts were $767,124 and the total of all benefit claims paid under these contracts during the plan year was $418,860.

Basic Financial Statement

The value of plan assets, after subtracting liabilities of the plan, was $241,782 as of December 31, 2009, compared to $293,660 as of January 01, 2009.  During the plan year the plan experienced a decrease in its net assets of $51,878.  This decrease includes unrealized appreciation and 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.  During the plan year, the plan had total income of $2,006,608, including employer contributions of $1,872,244, earnings from investments of $2,908, and other income of $131,456.

Plan expenses were $2,058,486.  These expenses included $186,823 in administrative expenses, and $1,871,663 for premiums paid on behalf of participants and beneficiaries.

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;

· information on payments to service providers;

· assets held for investment;

· insurance information, including sales commissions paid by insurance carriers;

To obtain a copy of the full annual report, or any part thereof, write or call the office of Legal Services Nationwide Employee Benefits Organization, Inc. at 101 Larkspur Landing Cir., Ste. 223, Larkspur, CA 94939, or by telephone at (800) 949-6326.

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 (Legal Services Nationwide Employee Benefits Organization, Inc., 101 Larkspur Landing Cir., Ste. 223, Larkspur, CA 94939) 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, Room N1513, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20210.