Welfare Benefits for Nu Emp Valley

“The bank of new york mellon serves as directed trustee of the trust. The plan sponsor is national grid usa service company inc. The trust is administered by the board of directors in accordance with the terms of the trust agreement. As such, the trust does not have a governing body that exercises discretion.”

“The board of directors delegates responsibilities to the investment committee of national grid us companies and the benefits committee of national grid us companies. The investment committee is responsible for overseeing the investment management of the assets in the trust. The benefits committee of national grid us companies is responsible for overseeing administrative issues with respect to the trust.”

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

“Subject to same policy as national grid usa service company inc.”

“Not applicable to this organization, as it is a 501(c)(9) trust (voluntary employee benefits association). Additionally, it does not have any employees and therefore no processes related to employee compensation.”

“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 welfare benefits for n/u emp valley. 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 inc. Form 990, part xi, line 9 the amount on line 9 represents an adjustment of $8 for reclassification of reit income.”

“MODIFIED CASH”