Sheet Metal Workers Local Union No 292 Suppl Unemployment Benefit Fund

“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 fund, is adminstered by a board of trustees which is composed of an equal number of union and employer representatives. Because of this organizational requirement, there is a business relationship between the trustees. Line 12a: annually each trustee must answer the fiduciary liability insurance renewal questionaire which contains questions regarding potential and actual conflicts of interest. Line 15a and line 15b: the fund did not have a ceo, executive director, top management official, officers, or key employees, as those terms are defined.”

“The fund is a taft-hartley fund and is administered by the board of six trustees. The employer association and the local union, who are the settlors of the fund, appoint three trustees each.”

“The form 990 is presented and approved at a meeting of the board of trustees, subject to review by and approval of the fund legal counsel.”

“The fund is established and maintained pursuant to the employee retirement 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 conflicts of interest policy.”

“Line 1a: paul gualdoni and anthony laforest served as trustee's of the fund without compensation from the fund for those services. However, they were compensated as an employee of the sheet metal workers' local union no. 292, which was a contributing employer to the fund and, as such, a "related organization" as that term is defined in the instructions.”