International Union of Operating

“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 administered 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 trustees.”

“There are no committees which have the authority to act on behalf of the governing body.”

“The 990 is reviewed by cfo of the international union of operating engineers before being filed. The form 990 is subsequently presented to and approved by the chairman. After the form 990 is filed, a copy is made available to all trustees to review at the next board of trustees meeting.”

“Annually, the board of trustees completes the fiduciary liability insurance renewal questionnaire and authorizes execution of its management representation letter to the funds auditor in respect to the financial statements.”

“Trustees of the operating engineers' local 324 health care plan are not paid by the trust for their services to the trust. Compensation reported on form 990, part vii for certain trustees is determined and paid for by a related organization, the international union of operating engineers.”

“Governing documents and financial statements are located at the fund office upon request. The fund is established and maintained pursuant to the employee retirement income 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 conflict of interest policy.”

“Change in benefit obligations 3,321,280. Net assets transferred to successor organization -7,362,320.”