SUMMARY ANNUAL REPORT
FOR
GRINNELL COLLEGE MEDICAL BENEFIT PLAN – RETIREE GROUP
This is a summary of the annual report for the GRINNELL COLLEGE MEDICAL BENEFIT PLAN – RETIREE GROUP,
(Employer Identification No. 42-0680387, Plan No. 507) for the period July 1, 2014 to June 30,2015. 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 by a trust (benefits are provided in whole from trust funds). The value of Plan assets, after subtracting liabilities of the Plan, was ($14,660,794) as of June 30, 2015 compared to ($41,860,601) as of July 1, 2014. During the Plan year the Plan experienced an increase in its net assets of $27,199,807. This increase includes unrealized appreciation 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 $28,319,874, including income from investments of $4,466, employee contributions of $409,852, employer contributions of $517,440 and other income of $27,388,116. Plan expenses were $1,120,067. These expenses included $996,396 in benefits paid and $123,671 in administrative expenses.
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.
2.
3.
4.
5.

An accountant's report;
Financial information and information on payments to service providers;
Assets held for investment; and
Transactions in excess of 5 percent of the Plan assets.
Information regarding any common or collective trust, 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 Sponsor:
Grinnell College
733 Broad Street
Grinnell, IA 50112-1690
42-0680387 (Employer Identification Number)
(641)-269-3500
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:
Grinnell College
733 Broad Street
Grinnell, IA 50112-1690 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, NW, Suite N-1513, Washington, D.C. 20210, Suite N-1513,
Washington, D.C. 20210.