Consolidated Edison Post Retirement Life

“State street bank & trust serves as the sole directed trustee of the consolidated edison post retirement life insurance veba trust for weekly ees. The plan sponsor is consolidated edison company of new york, inc. The trust is administered by the plan sponsor in accordance with the terms of the trust agreement. As such, the veba does not have a governing body that exercises discretion. Form 990, part vi, sections a & b, lines 8, 12 - 15 these questions are not applicable to this organization as it is a 501(c)(9) trust (voluntary employee benefits association). Additionally, the organization does not have employees, therefore no processes related to employee compensation are in place.”

“A complete electronic copy of the organization's form 990 was provided to the trustee for review prior to filing with the irs.”

“As a 501(c)(9) organization, the trust is not required to make the documents referenced in question 19 available to the general public.”

“Average hours per week devoted to position: as trustee, state street bank & trust provides administrative services such as acting as investment manager of consolidated edison post retirement life insurance veba trust for weekly ees. These services require numerous individual bank employees' involvement in the activities of the organization and thus cannot be quantified on an hourly basis. Therefore, the trustee fees are not based upon an hourly basis, but are calculated based upon factors such as the fair market value of the account and in accordance with state street bank & trust's agreement with consolidated edison company of new york, inc.”

“Liabilities assumed by plan sponsor upon dissolution of veba - 20,784”