Notice No. 01-46
February 1, 2001



TO:  NYMEX DIVISION MEMBERS

FROM: Patrick F. Conroy, Senior Vice President

SUBJECT: TERMINATION OF MEMBERS RETENTION AND RETIREMENT PLAN

The remaining assets under the MRRP are being distributed to the participants 
with Continuous Service between 10 and 14 years under the Plan. Under the 
terms of the Plan, participants with more than 15 years of Continuous Service 
are entitled to receive a payout equal to the net present value of their 
calculated benefit, to the extent of assets held in trust.  Any remaining 
assets are to be distributed to the participants with Continuous Service 
between 10 and 14 years. In earlier notices, we estimated that there would be 
sufficient assets to pay approximately 26% of the partial benefits otherwise 
calculable.  However, after the final reconciliation of the census 
information used to calculate the original estimates, the liability 
associated with the fully vested participants increased substantially. The 
final calculations indicate that the remaining assets available to the 
participants with Continuous Services between 10 and 14 years will represent 
14% of the otherwise calcu!
la!
ted benefits.  (In dollar terms, the liability to the fully-vested 
beneficiaries had increased by approximately $1.4 million.)

In earlier notices we cautioned that the estimated benefits were subject to 
change based upon corrections to the participant database statistics. During 
the review process there were substantial corrections required.  A detailed 
explanation of the corrected liability amounts will be presented to the Board.

If anyone would like to discuss their situation with me personally, I can be 
reached at ext. 8-2285.



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