Sheet Metal Workers Local No 80 Insurance Trust Fund

“The board of trustees adopted an amendment to the plan that reflected updates to dental expense benefits, vision expense benefits, and benefit processing and administration.”

“The fund is administered by a board of eight trustees, comprised of four union trustees and four employer trustees. The union trustees are elected by the local union membership, either directly into a trustee position or into an office position of the local union from which he holds his fund trusteeship ex officio.”

“The form 990 is provided to each trustee before it is filed with the irs. In addition, it is presented and approved by the full board of trustees at a meeting, subject to review by, and approval of, the fund's legal counsel.”

“Each trustee must annually answer the fiduciary liability insurance renewal questionnaire, which contains questions regarding potential and actual conflicts of interest.”

“The fund did not have any employees that met the definitions in the plan year. If the fund did have employees that met the listed definitions, then any compensation would have been established in accordance with the process described in part vi, line 15a of form 990.”

“The organization makes its governing documents and financial statements available for public inspection upon request.”

“The fund is established and maintained pursuant to the employee retirement income security act of 1974, as amended. It operates in compliance with the reporting and disclosure requirements of subtitle b, part 1 of erisa with respect to disclosure of its governing documents and financial information. It operates in compliance with the fiduciary responsibility requirements of subtitle b, part 4 of erisa. The fund does not have a conflict of interest policy.”

“The trustees of the fund serve without compensation from the fund, but some are compensated as employees of entities that are considered related organizations to the fund for purposes of form 990.”

“The fund may not receive deductible contributions under section 170(c)therefore, lines 7a through 7h are not applicable.”

“The process the board of trustees performs, who assumes responsibility for oversight of the audit, has not changed from prior year.”