Building Service Thomas Shortman Training Scholarship And

“The executive committee of the thomas shortman training, scholarship, and safety fund shall consist of two trustees of the fund. The committee is delegated full authority to act on such matters as it shall determine to require action between meetings of the board of trustees, except for amendments to the trust agreement and any matters which require unanimous action by the board of trustees.”

“Trustees hector figueroa (through july 11, 2019), kyle bragg, larry engelstein, denis johnson, and emanuel pastreich and deputy trustees lenore friedlaender, shirley aldebol and john santos have a business relationship through service employee international union local 32bj, respectively. Trustee howard rothschild and deputy trustees michael badowski, harry weinberg, and robert schwartz have a business relationship through realty advisory board on labor relations, inc., respectively.”

“If an union trustee vacancy arises, the fund's trust agreement provides that service employees international union local 32bj has the power to appoint a successor union trustee for the fund. If an employer trustee vacancy arises, the fund's trust agreement provides that the realty advisory board has the power to appoint a successor employer trustee for the fund.”

“The form 990 is reviewed by the fund's accounting department. The final form 990 is then provided to the board of trustees for their review and approval prior to filing the return.”

“THE FUND IS SUBJECT TO THE REQUIREMENTS OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT, AS AMENDED ("ERISA") AND THE FIDUCIARY STANDARDS OF ERISA, INCLUDING THE PROHIBITED TRANSACTIONS PROVISIONS, WHICH CONSTITUTES THE FUND'S CONFLICT OF INTEREST POLICY. THE BOARD OF TRUSTEES MONITORS AND ENFORCES COMPLIANCE WITH THOSE PROVISIONS AS REQUIRED BY ERISA ALONG WITH THE ASSISTANCE OF THE FUND'S PROFESSIONALS. In addition, the fund has an established Code of Ethical Conduct policy, which includes a conflict of interest policy.”

“The fund retained an independent consultant that conducted searches on a local and national level for similar jobs and determined reasonableness of the fund's compensation based on the benefits the fund provides and other internal factors. The consultant also built a salary structure foundation for the fund and that structure is reviewed annually and adjusted when appropriate. In addition, the director of human resources subscribes to an online compensation survey that is used as a tool in reviewing the fund's compensation for comparability purposes against the current job market.”

“The fund makes its governing documents, policies, and financial statements available to participants, beneficiaries, the sponsoring union, and contributing employers as required by erisa.”

“The fund provides training, scholarship and safety programs to eligible participants employed in the building services industry who are covered under collective bargaining agreements or participation agreements. The fund is aimed at upgrading and improving industry skills, providing training and classes to improve computer and academic skills, providing scholarships for eligible participants and their dependents, and providing safety programs assisting participants in preventing injury or illness on the job.”

“On august 1, 2019 the trustees approved the merger agreements with seiu property services new england training fund and industry cooperation trust fund and all remaining assets were transferred into thomas shortman, scholarship and safety fund on december 31, 2019. Seiu property services new england training fund $ 545,723 industry cooperation trust fund 385,472 ----------- total transfers in of net assets $ 931,195”