New Mexico Gas Company Inc Non-Union

“The new mexico gas company, inc. Non-union veba trust was established by new mexico gas company, inc. (nmgc), plan sponsor, on june 4, 2009, under internal revenue code (irc) section 501(c)(9) for the purpose of holding assets to provide future medical, dental and vision benefits (health benefits) and other ordinary plan expenses for nmgc non-union retirees and their eligible dependents. Assets held in this trust may not be used for, or diverted to, any purpose other than providing health benefits and other ordinary plan expenses for eligible nmgc non-union retirees and their beneficiaries as provided in the new mexico gas company, inc. Comprehensive retiree health plan (plan). Trustee fees and investment-related expenses are also paid by the trust. All other costs of the trust are paid by nmgc. The trust does not have employees and does not pay wages or provide employee benefits. The veba trust has obtained a favorable tax determination letter from the internal revenue service, and the plan sponsor believes that the trust, as amended, continues to qualify and to operate in accordance with the applicable provisions of the irc. Nmgc is plan sponsor. The board of directors of emera, inc., parent company of nmgc, has established the emera benefit plans committee (committee) to be responsible for the administration of the plan. The committee consists of three members, as outlined in the committee's charter, all of whom are also employees of emera. All salaries, wages and benefits for the members of the committee, if any, are paid by emera and not by the trust. Although the committee is authorized to make changes to the plan, the emera board retains the right to merge or terminate the plan. The committee sets the investment allocation for investments held by the trust. Written minutes of all meetings held by the committee are maintained by the committee members. Pnc bank is an institutional trustee only and has no voting authority on the board of directors.”

“The annual plan audit and the annual government filings are reviewed by the benefits comittee prior to filing. Form 990, part vi, section b, lines 12-14: the new mexico gas company, inc. Non-union veba trust does not have written policies for conflict of interest, code of conduct, whistle-blower or document retention and destruction. Nmgc, however, does have all of these written policies in place, which govern all corporate activities as well as the activities for associated benefit plans and their related trusts. Working with independent investment advisors, the committee has developed a written investment policy for assets held in the trust. All investment and other activities of the trustee are under the direction of the committee, whose members are subject to these established policies.”

“The organization does not make its governing documents, conflict of interest policy, and financial statements available to the public.”

“Pnc bank attn: alex wright, avp, relationship manager 1900 e 9th st., 8th floor cleveland, oh 44114”

“Other professional fees 190,799.”