Midwestern Teamsters Health & Welfare Fund

“The organization engages a third party administrator to handle the day to day operations. The third party administrator is primarily responsible for paying health claim benefits, collecting employer contributions,paying expenses and handling all other organization matters. The third party administrator reports to the trustees at regular board meetings and is under the direct supervision of the trustees.”

“The third party administrator is responsible for the review and filing of form 990. A copy of the final form 990 is provided to the trustees of the fund.”

“Trustees are expected to perform their duties conscientiously, honestly and in accordance with the best interest of the fund. Trustees must not use their position or knowledge gained as a result of their position for private or personal advantage. Regardless of the circumstances, if a trustee suspects that a course of conduct he/she has pursued, is presently pursuing of if contemplated pursuing may involve the trustee in a conflict of interest with the fund, the trustee must immediately communicate all the facts to the other trustees and fund counsel.”

“The organization makes its form 990, form 5500 and summary annual report available for inspection upon request. Other governing documents, including the conflict of interest policy and document retention and destruction policy are not made available to the public.”

“For the years ended february 28,2017 and february 26, 2016, amounts as reported on form 990 are presented on the liquidation basis of accounting. Under this basis of accounting, assets are valued a their net realizable values and liabilities are valued at the amount of cash expected to be paid. On june 30, 2015, the trustees voted to terminate the plan effective august 1, 2015. At february 29, 2016 the plan was still in the process of winding up its affairs and had not completly liquidated the plan. During the year ended february 28, 2017 remaining plan liabilities were paid and plan assets were liquidated. Benefit payments to participants and adminstrative expenses to service providers to wind up the plan were paid as administered by the trustees of the plan and in accordance with plan documents.”