This is a summary of the annual report for the National Electrical Annuity Plan, #52-6132372, for the year ended December 31, 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. Plan expenses were $214,744,387. These expenses included $14,109,060 in administrative expenses and $200,635,327 in benefits paid to participants and beneficiaries. A total of 102,771 persons were participants in or beneficiaries of the plan at the end of the plan year, although not all of these persons had yet earned the right to receive benefits.

The value of plan assets, after subtracting liabilities of the plan, was $5,865,958,906 as of December 31, 2015, compared to $5,545,077,680 as of January 1, 2015. During the plan year the plan experienced an increase in its net assets of $320,881,226. This increase includes unrealized appreciation or 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. The plan had total income of $535,625,613, including employer contributions of $466,871,443, gains of $4,732,791 from the sale of assets, earnings from investments of $63,102,096, and other income of $919,283.

Minimum Funding Standards

Enough money was contributed to the plan to keep it funded in accordance with the minimum funding standards of ERISA.

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 and information on payments to service providers;
• assets held for investment;
• transactions in excess of 5 percent of plan assets; and
• information regarding any common or collective trusts, 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 Trustees of the National Electrical Annuity Plan, who are the plan administrators, 2400 Research Boulevard, Suite 500, Rockville, Maryland 20850-3266, (301) 556-4300. The charge to cover copying costs will be $15.25 for the full annual report, or $.25 per page for any part thereof.

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 at 2400 Research Boulevard, Suite 500, Rockville, Maryland 20850-3266, 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, Room N-1513, Washington, D.C. 20210.

Lonnie R. Stephenson
NEAP Trustee

Salvatore J. Chilia
NEAP Trustee

John M. Grau
NEAP Trustee

Dennis F. Quebe
NEAP Trustee