Granite State Elec Co Pbt for Nmp (Niagara Mohawk Non-Rep Medical)

“The bank of new york mellon serves as sole directed trustee of this trust. The plan sponsor is national grid usa service company. The trust is administered by the investment committee of 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.”

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

“These questions are not applicable to this trust. Additionally, it does not have any employees, therefore, no processes related to employee compensation are in place.”

“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, the bank of new york mellon provides administrative services such as acting as investment manager for granite state elec. Co p/b/t for n/m/p. 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 market value of the account and in accordance with the bank of new york mellon's agreement with national grid usa service company.”

“Other changes in net assets the amount shown on line 9 represents an adjustment for the following: partnership income adjustment $3,002,381 distribution of net assets to veba health insurance trust for non-union employees of keyspan 13-4009945 ($110,776,435)”

“MODIFIED CASH BASIS”