Cement & Concrete Workers District Council Welfare Fund

“The fund is managed and maintained by the fringe benefit office. The office is open during regular business hours. Contractors and union members may request and review the information at the fringe benefit office.”

“As a taft-hartley industry/union benefit fund, the board of trustees is made up of an equal number of independent voting members of employer trustees and union trustees.”

“The fund is a taft-hartley benefit fund. Management trustees may elect other management trustees and union trustees may elect other union trustees. Employer trustees and union trustees must have equal number of voting members.”

“The fund administrator documents and summarizes the actions authorized by the board. The board of trustees has not established standing committees.”

“All business is presented to the board of trustees at formal meetings and a copy of the irs form 990 is distributed to the board members for their review and approval before filing.”

“The board of trustees monitors all arrangements and enforces a full disclosure policy of any conflict of interests as part of the u.s. Dol regulation of employee benefits.”

“The board does not compensate its board of trustees who act as officers of the welfare fund. The board of trustees deliberate compensation packages for the fund administrator and other top fund management personnel using the latest trend information in compensating people in those positions.”

“The board does not compensate its board of trustees who also act as officers of the welfare fund. The board of trustees deliberate compensation packages for the fund administrator and other top fund management personnel using the latest trend information in compensating people in those positions.”

“The fund is managed and maintained by the fringe benefit office. The office is open during regular business hours. Contractors and union members may request and review the information at the fringe benefit office.”

“Operate a self-administered health benefit plan and also provide death benefits and disability benefits.”

“Line 26 welfare fund benefit liability and benefit expenses paid to members are recorded as deductions from net assets as of the date paid in accordance with accounting principles generally accepted for employee benefit plans. Therefore, benefits payable at year end are not recorded. The following information is provided to disclose the benefit liabilities, including incurred but not reported benefit claims at year end. Benefit claims currently payable as of december 31 were: 2015 - 4,601,462 2014 - 3,913,809 increase (decrease) in benefit expense for years ended december 31 were: 2015 - 687,653 2014 - (19,983)”

“991,178 total 991,178 adjustment for guaranteed investment contract from contract value to fair value (prior year).”

“Line 2c the board of trustees of the welfare fund does not have a sepatate finance or audit committee. During the year, the board of trustees meet with the auditors to address any changes in internal control, financial statement preparation procedured, and new accounting developments. The financial statements are reviewed by the plan administrator and the board of trustees at the board meetings.”