New England Harness Racing
at Plainridge Park in Plainville, Massachusetts
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P.O. Box 1811, Plainville, MA 02762 508-316-3364
The following detailed explanation will provide you with an example of how the points equate into monies, and how the funds
are invested. This explanation of how the contribution value of each point is determined is on the plan’s valuation date (December 31st) annually. For illustration purposes, $120,000.00 will be used as the contribution amount.
Total Contributions – Total Administrative Costs = Net Contributions
Net Contributions divided by Total Points Earned from all HHANE Members = Contribution Value of 1 Point.
Therefore, you multiply the Contribution Value of 1 Point by .25, .50 and .75 to get the ¼, ½ and ¾ point contribution values.
For example, if HHANE contributes $120,000 during the year, administrative costs are $20,000, and the total number of points from all active participants is 45.75, the math would be:
$120,000 less $20,000 = $100,000
$100,000 divided by 45.75 =$2,185.79
$2,185.79 x 1.00 point = $2,185.79 (Equals the value of 1 Full Point)
$2,185.79 x .75 point = $1,639.34 (Equals the value of 3/4 Point)
$2,185.79 x .50 point = $1,092.90 (Equals the value of 1/2 Point)
$2,185.79 x .25 point = $546.45 (Equals the value of 1/4 Point)
Funds are deposited into a pooled investment account that is invested according to an agreed upon Moderate Conservative risk model that takes into consideration potential liquidity needs to satisfy distributions to participants and distributions to cover anticipated administrative costs.
At present, the Third Party Liability Insurance provided by HHI that not only covers Drivers and Trainers but also Owners comes from the Fund. It is our hope to expand services that benefit our members, but at present the HHI costs and RSP administrative costs are the only expenses coming from the Fund, therefore all monies left have been allocated to the RSP.