Plumbers Local Union No 690 Health Plan

“Plumbers local union no. 690 (the union) has the ability to appoint half of the trustees. The mechanical contractors association of eastern pennsylvania, inc. Has the ability to appoint two of the eight trustees. The plumbing and heating contractors association of philadelphia and vicinity has the ability to appoint one of the eight trustees. The plumbing and heating supply house employers association has the ability to appoint one of the eight trustees.”

“There are no committees with the authority to act on behalf of the governing body.”

“The form 990 is reviewed by the plan's administrator.”

“The process for determining the compensation of the plan administrator has been determined by the board of trustees. Salary is a multiple of the levels of wages set forth in the applicable collective bargaining agreement.”

“These documents are not provided to the general public.”

“Certain trustees changed during the year. Accordingly, certain amounts of other compensation from related organizations are estimates.”

“The fund does not issue w-2s and shares certain staff with organizations considered by the form 990 instructions to be related organizations. The fund does not have any employees but instead the fund shares the costs of compensation, fringe benefits and other costs based on periodic time studies and analyses. Accordingly, the fund's allocated portion of the costs related to this sharing is reported on form 990, including on part vii, section a, schedule j and part ix, lines 5 through 10. The fund does report certain a&s benefits paid to members on w-2 forms which get totaled on the form w-3. Therefore, the plan's w-3 has 9 w-2's issued reported on form w-3.”

“The fund's investment program includes cash management procedures that maximize earnings on temporary balances by immediately purchasing short term investment vehicles upon the receipt of essentially all principal and interest transactions. This necessitates the selling of such assets for each purchase of longer-term investments. This cash management activity is included in part viii item 7 but is not considered to constitute transactions considered by part iv item 32.”