Laborers Local 754 Organizing Fund

“The employer trustees and one union trusteee are employed by companies that have collective bargaining agreements with laborers' local no. 754, in which a union trustee is an officer. Members of the local union are employed by the employer trustees' companies and the terms and conditions of that employment are negotiated by the employers and the union in the collective bargaining process.”

“Union trustees are appointed by the executive board of laborers' local union no. 754. Employer trustees are appointed by the two contractor associations that the laborers' local union no. 754 collectively bargains with not all employer signatories are members of those associations.”

“Prior to its filing, the form 990 was reviewed by each of the trustees of the fund. The board of trustees is the governing body of the fund and consists of all of the voting members.”

“The organization is an employee benefit plan covered by the employee retirement income security act. Sections 404 and 406 of that act provide the legal standard and procedures with regard to conflicts of interest for the board of trustees. The trustees have a statutory duty under erisa to avoid conflicts and to report them when they occur. The written policy requires all interested persons to disclose the existence of any actual or possible conflicts of interest to the board of trustees. The board of trustees is required to investigate and review such disclosed conflicts of interest and any alleged failures to disclose conflicts of interest.”

“The compensation of the top management official is reviewed and approved annually by the board of trustees. The fund does not have a ceo or executive director.”

“The fund provides form 990 upon request.”