Summary Annual Report for the Basic Tax-Deferred Annuity Retirement Plan and the Supplemental Retirement Annuity Plan

This is a summary of the annual reports of The University of Pennsylvania Basic Tax-Deferred Annuity Retirement Plan (Plan 001) and the Supplemental Retirement Annuity Plan of the University of Pennsylvania (002) sponsored by the University of Pennsylvania, EIN: 23-1352685, for the period July 1, 1999 through June 30, 2000. The annual reports have been filed with the Internal Revenue Service as required under the Employee Retirement Income Security Act of 1974 (ERISA).

To facilitate publication, the reports have been combined. Consequently, portions of this summary may refer to a Plan in which you are not currently participating.

Basic Financial Statement

The Plans have contracts with the providers TIAA-CREF and The Vanguard Group which allocate funds toward group deferred annuities and mutual funds. Participants who have accounts with these providers deal directly with them when making transactions in their respective accounts. The providers render financial reports directly to the plan participants.

Your Rights to Additional Information

Under ERISA you have the right to receive copies of the full annual reports, or any part thereof, on request. To obtain a copy of either annual report, or any part thereof, write or call the Plan Administrator, University of Pennsylvania, 3401 Walnut Street, Suite 527-A, Philadelphia, PA 19104-6228, (215) 898-9947.

You also have the legally protected right under ERISA to examine the annual reports in the offices of the Employer, 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 N-5638, Pension and Welfare Benefits Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20210.

--Division of Human Resources


Almanac, Vol. 47, No. 14, December 5, 2000

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