Heavy and General Construction Laborers Union Local 472 Severance Fund

“The trustees are appointed by the heavy and general construction laborers union local 472 (the employer) per the agreement and declaration of trust of the plan. The executive board (governing body) of the employer has the power to appoint the trustees (governing body) of the plan. In case a trustee or successor trustee shall die, become incapable of acting, resign or be removed, the successor trustee shall be immediately designated by the employer.”

“Heavy and general construction laborers union local 472 (the employer) reserves the right at any time to revoke this trust in its entirety per the agreement and declaration of trust of the plan. Any such revocation of this trust shall become effective immediately upon receipt by the trustees of a written instrument of revocation signed on behalf of the employer by its duly authorized representative. The plan may likewise be terminated at any time by the unanimous vote of the trustees with the consent of the employer. Any trustee or successor trustee may be removed at any time by the employer by filing with the remaining trustees a letter to such effect executed by the president or secretary-treasurer of the employer.”

“The trustees governing body did not have any meetings during the year and did not have any committees with authority to act on behalf of the governing body and therefore no documentation of trustee or committee meetings was required.”

“The prepared form 990 was reviewed by two trustees at the may 9,2023 meeting held at the employer sponsor's office before it was filed with the irs. The review was conducted by teleconference by the preparer's firm and a summary of the form and required schedules was given. A brief discussion followed and any questions by the trustees were addressed.”

“The fund's agreement and declaration of trust (governing document) is not available to the general public, but is available to participants and the employer upon request from the fund's office. The fund files an annual financial report with the us department of labor which can be obtained upon request from the fund's office or from the united states department of labor public disclosure room.”

“The organization's employer sponsor has a conflict of interest policy, whistleblower policy, and a document retention and destruction policy which are used to govern the organization.”

“The trustees listed on part vii, section a do not receive compensation from the organization, but do receive compensation from the employer sponsor (a related organization) in their capacity as officers and employees of that organization.”