Southern Ca Public Safety Retiree Medical Trust

“There are five trustees, four of whom are selected by the members of the alhambra police officers association and one of whom shall be appointed by the board of directors of the alhambra police officers association. No more than one trustee may be a retiree. Elections and appointments shall be according to the bylaws of the alhambra police officers association for its election of its governing board and its appointments, provided, however, that the board of the alhambra police officers association may set special election rules for trustees.”

“The trust has no separate committees.”

“The chairperson of board of trustees reviews the form for completeness and accuracy and compares the amounts to third party administrator's internal report for consistency before signing and filing with irs.”

“The conflict of interest policy requires the trustees report a potential conflict of interest to the board of trustees as soon as practicable.”

“The trust's governing documents, form 990, and form 5500 are available to participants upon request. The trust is not required to have an annual audit of its financial statements under erisa.”

“We request exemption from any applicable requirement to disclose w-2 compensation information from related organization for the trustees for the following reasons: 1. The members of the board of trustees serve on a volunteer basis as trust fiduciaries. Except for reimbursing of lost vacation time used to attend the trust's education seminar, they do not receive any compensation from the tax-exempt organization (a veba), any sponsoring organization, or any contributing employer for their services on the board of trustees. In fact, the trustees pay dues to the sponsoring organization, the alhambra police officers association. 2. The irs instructions provide that a contributing employer to a veba is a related organization. Here, the city of alhambra is a contributing employer to the trust, which is organized as a veba. However, the trustees are police officers employed by the city of alhambra, and the city of alhambra only pays the trustees in connection with their duties as public safety officers, not for their duties as trustees. The general salary schedule for police officers of the city of alhambra is a matter of public record, which ranges from $6,338 to $9,499 per month depending up their job and rank classifications. 3. Most importantly, the form 990 seeks the disclosure of highly sensitive personal information in a public record. It is likely that requiring the disclosure of compensation will dissuade police officers 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.”

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

“No compensation is paid to any trustees or officers. The trust has no employees.”

“Third party administrator fees 19870. Actuary fees 14500.”