Concordia College

Summary Report

SUMMARY ANNUAL REPORT FOR 2006

This is a Summary Annual Report for the Concordia College (Employer ID #41-0693977) Group Life Insurance Plan (Plan No. 505), Group Long Term Disability Insurance Plan (Plan No. 502), Group Health Insurance Plan (Plan No. 506), and Group Dental Plan (Plan No. 508) for the plan year beginning January 1, 2006, through December 31, 2006.  The annual reports have been filed with the Internal Revenue Service, as required under the Employee Retirement Income Security Act of 1974 (ERISA).

Concordia College has committed itself to pay certain medical claims incurred under the terms of the Health & Major Medical Plan with Blue Cross Blue Shield of Minnesota (BCBSMN).  Because it is a so-called experience-rated Plan, the costs are affected by, among other things the number and size of the claims. The total costs paid for the Plan Year ending December 31, 2006, was $ 3,960,473.  The total of all benefit claims paid during the Plan Year was $3,421,372*.

The Group Dental Plan with Delta Dental Plan of Minnesota is fully insured.  The total costs paid for the Plan Year ending December 31, 2006, were $154,050.  The total of all benefit claims paid during the plan year was $134,253.

Insurance Information
The Concordia College Group Life Insurance Plan had a contract with MetLife to pay all claims incurred under the terms of the plan.  The total premiums paid for the plan year ending December 31, 2006, were $154,184.

The Concordia College Long Term Disability Insurance Plan had a contract with Assurant to pay all claims incurred under the terms of that plan.  The total premiums paid for the plan year ending December 31, 2006, were $141,997.

The Concordia College Health and Major Medical Plan has a contract with BCBSMN to pay stop loss claims incurred under the terms of the plan.  The total premiums paid for the Plan Year ending December 31, 2006, were $390,205.

Basic Financial Statement For The Retirement Plan
Benefits under the Concordia College Retirement Plan are invested in annuity contracts issued by the Teacher’s Insurance and Annuity Association and College Retirement Equities Fund (TIAA-CREF).  Total premiums paid for the plan year ending December 31, 2006, were $1,622,370.81.

Your Rights To Additional Information
You have the right to receive a copy of the full annual reports or any part thereof including insurance information upon request.

The items listed below are included in that report:
information on payments to service providers; and
insurance information, including sales commissions paid by insurance carriers.

To obtain a copy of the full annual report of any part thereof, call or write the Director of Human Resources, Outreach Center, Concordia College, 901 8th St. S., Moorhead, MN (218) 299-3339.

You also have the legally protected right to examine the annual report at the main offices of the plans and at the United States Department of Labor in Washington, D.C. or to obtain a copy from the United States Department of Labor upon payment of copying costs.  Requests to the department should be addressed to :  Public Disclosure Room N1513, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue N.W., Washington, D.C. 20210.

*The difference between premiums paid and claims paid is administrative expenses, network management fee, and stop-loss insurance.