Community College Employees Benefit

“The board of trustees adopted plan document amendment no. 15 effective october, 2018 and amendment no. 16 effective september, 2019 to clarify benefit claim procedures.”

“The trust agreement provides that 3 of the 6 trustees are elected by the members of the participating labor organizations. The remaining 3 trustees are appointed by the board of directors of the participating labor organizations.”

“The trust agreement reserves limited authority for the plan sponsor to make decisions regarding changes to the composition of the board of trustees and to receive notice or approve of mergers, terminations and trust agreement amendments.”

“The trust has no separate committees.”

“The chairperson of the trust reads form 990 for completeness and accuracy and compare to the trust's audited financial statements for consistency, before signing and filing with irs.”

“The board of trustees meet regularly to review and monitor trust activities. All board members are covered by the conflict of interest policy. Board members shall submit a disclosure form to the board, if any member decides he or she may have a conflict of interest. The member will be excused from the meeting while the board determines if there is a conflict of interest. There have been no incidences of any conflict.”

“The trust has no employees. The trust does not pay compensation to any trustees or officers.”

“The trust's governing documents, conflict of interest policy, and financial statements are available to the public upon written request. The trust's summary annual report is provided to participants on an annual basis.”

“The trust's document retention and destruction policy is covered in the article vi, aection 11 of the trust agreement.”

“The trust's whistleblower policy is covered in the article vi, section 15 of the trust agreement.”

“Jeffrey r. Lloyd - 5100 sierra college blvd, rocklin, ca 95677. Linda fisher - 5100 sierra college blvd, rocklin, ca 95677. Vicki day - 250 sierra college drive, grass valley, ca 95945. Julie holcomb - 250 sierra college drive, grass valley, ca 95945. Katherine lucero - 5100 sierra college blvd, rocklin, ca 95677. Beverly yoha - 5100 sierra college blvd, rocklin, ca 95677.”

“The trust does not have information regarding the compensation received by the trustees from the sierra community college district (the college). The members of the board of trustees are paid employees of the college, and receive all their compensation solely connected to their positions as employees of the college. In their role as trustees, they are fiduciaries and subject to legal prohibitions against self-dealing. They serve on a volunteer basis as trust fiduciaries; they do not receive any additional compensation from the college or any other party for their services on the board of trustees. Further, the trust has a conflict of interest policy, which requires trustees to disclose any financial arrangements that would create a conflict of interest. Section 7(a) of the conflict of interest policy of the trust, effective december 4, 2009, provides that: trustees shall submit a signed conflict of interest disclosure and confidentiality form to the board and update that form annually as needed. Trustees must disclose all potential conflicts of interest in connection with any board or committee decision. Trustees shall make all disclosures under this policy to the best of their knowledge and belief. Note also that the disclosure of compensation requested on the form 990 would cause additional administrative burden by requiring the trust to collect this information annually, since the trustees' compensation as employees of the college varies from year to year, and from trustee to trustee. Finally, and very importantly, the form 990 is public information. It is likely that requiring the disclosure of compensation will dissuade employees of the college from volunteering to serve on the board. The trust would then have to spend trust assets to hire a professional trustee. Please contact the trust office if you would like further information, and /or would like to discuss this further. The trustees want to be cooperative with the irs, but requesting this compensation information is problematic for the reasons stated above.”

“Third party administrator fees 61,076. Actuarial expense 21,370.”

“The board of trustees assumes the responsibility for oversight of the audit of its financial statements. There is no separate audit committee.”