Special Agents Mutual Benefit Association

“Membership in the corporation shall be open to individuals who are active employees of a samba eligible employing agency or who are retired from a samba eligible employing agency, under any established retirement program. The term samba eligible employing agency means any branch department or agency of the united states government, including without limitation the us postal service and us courts. Membership in the corporation shall consist of two classes: a) regular membership - eligible individuals may elect regular membership by enrolling in the health benefit plan. Regular members also may enroll in other plan programs in accordance with and as permitied by the plan documents. Regular membership shall terminate contemporaneously with the termination of the health benefit plan coverage. Membership at that time will convert to associate membership if the individual remains enrolled in any other plan program. B) associate membership- eligible individuals may elect associate membership by enrolling in a plan program other than the health benefit plan in accordance with and as permitied by the plan documents. Associate membership shall terminate contemporaneously with the termination of plan coverage unless the individual tranfers employment to another agency, in which case he or she may continue his or her enrollment and associate membership while so employed for persons who do not meet the criteria for regular or associate membership. The board of directors may in its discretion define a special class of membership by virtue of (1) employment or service with the corporation, (2) previous enrollment in a plan sponsored by the corporation, or (3) section 409 of the indian healthcare improvement act (ihcia), as incorporated and amended by subsection 10221 of the patient protection and affordable care act (aca); allowing indian tribes or tribal organizations or urban indian organizations and their employees to purchase coverage under the federal employees health benefit program or any other successor program as such terms are defined therein. Persons admited as special members in the corporation shall have all the rights accorded associate members and may enroll in a plan sponsored by the corporation if permitied under applicable law.”

“Regular Members shall have the right to vote in the election of directors, Except as otherwise expressly stated in the ByLaws or in the Articles of Incorporation. Members, including Regular Members, shall not have the right to vote on any other matter affecting the Corporation, including but not limited to merger, consolidation and dissolution.”

“The form 990 is reviewed by both the controller and executive director before it is forwarded to the treasurer for final review and signature.”

“Officers, directors or trustees and key employees are required to disclose annually any interests that could give rise to conflicts of interest; including, but not limited to employment and any work performed for another organization paid or unpaid.”

“The board sets the compensation of the executive director based upon outside recommendations and statistical data. The executive director's compensation was last reviewed in january 2018.”

“THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABE UPON REQUEST TO THE PUBLIC. The organization's bylaws are available on its website for anyone to view, with the latest update as of October 1, 2012.”

“Estimated amount of other compensation the reduction in the total present value of the benefit increase comes primarily from the change in the termination and retirement tables made after a study the actuary performed for samba last year. Additionally, the discount rate used at the end of 2017 was 4.00%, while the discount rate used at the end of 2018 was 4.25%. The increase in the dicount rate lowered the liabilities further. These are actuary calculations and these amounts do not respresent a cash outlay.”

“Other changes to net assets or fund balance of $ (32,363,010) consists of the following: incremental effect of fasb asc topic 715 - post retirement benefits of $308,696, return of excess reserves ($357,012), contingency reserve payment of $7,868,778, special reserve of ($40,183,472)”