Dsw Inc Benefit Plan

“The organization is a voluntary employees' benefit association (veba). As a trust, the veba does not have a defined governing body composed of a board of directors, but instead is governed by a trust agreement. A commercial banking institution is appointed as trustee by the sponsoring organization in the trust agreement. The sponsoring institution shall at all times ensure that named fiduciaries are appointed for the plan, who shall be responsible for the control of the veba established in connection with the trust fund. Such named fiduciaries shall be responsible for the operation and administration of the plan. To accomplish administration and payment of benefits under the plan, the primary sponsor of the plan engaged a benefits administrator to serve as the agent for the administration and payment of benefits under the plan. The benefits administrator may be changed from time to time and the plan sponsor shall provide the trustee with written notification of any change. The trustee shall make distribution from the trust fund in the manner provided for under the terms of the trust agreement and in such amounts as are directed in writing by the plan sponsor or benefits administrator. Board meetings are not held and accordingly there are no board minutes documented.”

“See explanation for line 8a above. There are no committees with authority to act on behalf of the trust and its named fiduciaries.”

“The form 990 will be reviewed by the organization's principal officer and fiduciary. A copy of the form 990 is provided to the institutional trustee before filing with the service.”

“The organization's governing documents will be provided upon request.”

“Pnc bank - 155 east broad street, columbus, oh 43215.”

“The organization has terminated effective august 31, 2014. Pursuant to sections 9.1 and 9.2 of the veba trust agreement, dsw was provided the option to terminate the trust fund at any time. The company determined that the trust fund was no longer necessary to accomplish the purpose for which it was created and amendeded the agreement to terminate the trust fund effective august 31, 2014. Any outstanding assets or liabilities are the responsibility of dsw, inc.”

“Plan administrative fees 1,035,742.”

“Umr administration fees - 575,095 cigna administration fees - 66,214 boa fsa administration fees - 24,259 asset health wellness administration fees - 127,292 optum eap - 60,958 cleveland clinic wellness administration fees - 75,419 consultants - 107,506”

“The veba does not have a committee that assumes responsibility or oversight of the audit of its financial statements and selection of an independent accountant. However, the director of compensation and benefits of the plan's sponsoring organization does assume responsibility for oversight of the audit of financial statements.”