Sheet Metal Workers Local No 80 Insurance Trust Fund

“Line 12b: each trustee must annually complete the fiduciary liability insurance renewal questionnaire, which contains questions regarding potential as well as actual conflicts of interest. Line 15b: the fund did not have any employees that met the definitions during the plan year. If the fund did have employees that met the listed definitions, then any compensation would have been established in accrodance with the process described in part vi, line 15a of form 990. Line 2: the relationship between the trustees of the fund is a "business relationship". The fund is established and maintained pursuant to the employee retirement income security act of 1974, as amended. The fund, as a taft-hartley trust fund, is administered by a board of trustees which is composed of an equal number of union and employer representatives, and because of this organizational requirement, there is a business realationship between the trustees.”

“The fund is administered by a board of eight trustees, comprised of four uinon 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 they hold thier trusteeship.”

“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 and approval by the fund's legal counsel prior to filing.”

“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 i erisa with respect to disclosure of its governing documents and financial information. It operates in compliance with the fiduciary responsibility reqirements of subtitle b, part 4 of erisa. The fund does not have a conflict of interest policy.”

“Line 1a: the trustees of the fund serve without compensation from the fund for those services. However, some trustees are compensated as employees of organizations that are considered "related organizations" as that term is defined in the instructions.”