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<br />.. 00 iJ 17 3 <br /> <br />UPPER COLORADO RIVER COMMISSION <br />Notes to Financial Statements - Continued <br />June 30, 2001 <br /> <br />(4) OTHER INCOME <br /> <br />Other income consisted of the following at June 30/ 2001: <br /> <br />Waternews Subscription fees <br /> <br />$ 1. 275 <br /> <br />(5) PENSION PLAN <br /> <br />The Commission I s employee pension plan is a 401 (K) defined <br />contribution plan which covers all of the present employees. <br />The Commission contributes 7% of the employees' gross salaries. <br />In addition, the Commission will match contributions made by <br />employees up to a maximum of 3 % . Accordingly / the maximum <br />allowable contribution by the Commission is 10%. The employees <br />are allowed to contribute up to the maximum allowed by law. The <br />employer's share of the pension plan contribution ror the year <br />ended June 30, 2001 was $17,465, which includes $400 or <br />administrative costs. <br /> <br />(6) CONTINGENCIES AND SUBSEQUENT EVENTS <br /> <br />The commission has been threatened with a discrimination lawsuit <br />by a former employee. Management feels there is no basis for <br />this claim. As of the report date no lawsuit has been filed. <br /> <br />9 <br />