Local No 4 Seiu Health and Welfare Fund

“The form 990 is provided to the entire board of trustees prior to filing. The trustees review the form and upon fully understanding the completed form 990, it is approved, signed and submitted to the irs.”

“The board of trustees and the fund administrator shall regularly and consistently monitor and enforce compliance with this policy, taking all steps they deem necessary to ensure such monitoring and enforcement.”

“The governing documents, conflict of interest policy, whistleblower policy, document retention and destruction policy and financial statements are available upon request at the fund office.”

“The plan shares its compensated employees with the seiu healthcare home care and child care fund and the seiu local no. 4 pension fund, both of which are unrelated benefit funds. These unrelated funds reimburse the plan for shared salaries and salary-related expenses and other administrative expenses, which are allocated pursuant to a shared administrative agreement and estimated using cost allocation studies approved by the trustees. The amounts reported in part vii, columns d and f represent the gross amounts reported on form w-2 for 2023 and represent the annual salary. Column b of part vii reports the total average hours worked per week for this benefit fund and does not include those hours dedicated to affiliated but unrelated funds, as defined by this form's instructions. The functional expenses reported, on form 990, part ix represent only those expenses that are allocated to this benefit fund.”

“The fund administrator entered into an employment agreement with the fund that has extended into the current filing period. The compensation approved by the fund's board of trustees was based, in part, on an annual survey of the chicago area administrators group that analyzed the compensation levels of fund administrators within the geographic area, adjusted for the size of the fund, and the compensation of the participants. Periodically, the administrator has also received cost of living or other across-the-board raises that were provided to all fund staff.”