Air Line Pilots Association International

“The form 990 is reviewed by the senior staff accountants, finance department management staff, benefits specialist, and plan administrator of the Air line Pilots Association, International (ALPA) and provide any feedback to the Independent Certified Public Accountant Firm engaged by the plan to prepare the form 990. The comments are incorporated into the final version of the form 990, which is then filed with the IRS.”

“The air line pilots association, international retirement medical veba trust follows the conflict of interest policy of its related organization, the air line pilots association international (alpa). (1) alpa's conflict of interest policy is reviewed with employees, a written copy is included in each employee new hire kit. A copy is included in the employee handbook, and the policy is posted on the employee staff center website. The policy provides examples of some of the relationships that should be avoided. The policy requires that all employees avoid conflicts between their personal interest and the members of, or persons represented by alpa or the interest of alpa in dealing with employers or with suppliers, customers, and all other organizations or individuals seeking to do business with alpa. If a conflict is reported, discovered, or suspected, it is addressed first by the employee's supervisor and, if necessary, by the human resources department, and in either case, appropriate measures are taken, which can include terminaton for violation of the policy. (2) in accordance with federal labor laws, alpa is governed by officers elected from among the membership. Accordingly, decisions made by alpa's governing bodies necessarily affect the officers who make up those governing bodies, just as those decisions affect the union members as a whole. However, section 501(a) of the labor-management reporting and disclosure act (lmrda), 29 u.s.c. S501(a), states that officers and other union representatives "occupy positions of trust" with respect to the union and so that "it is, therefore, the duty of each such person, taking into account the special problems and functions of a labor organization, to hold its money and property solely for the benefit of the organization and its members and to manage, invest, and expend the same in accordance with its constitution and bylaws and any resolutions of the governing bodies adopted thereunder, to refrain from dealing with such organization as an adverse party or on behalf of an adverse party in any matter connected with his duties and from holding or acquiring any pecuniary or personal interest which conflicts with the interest of such organization, and to account to the organization for any profit received by him in whatever capacity in connection with transactions conducted by him or under his direction on behalf of the organization." the responsibilities imposed by lmrda section 501(a) may be enforced by union members through suits in federal court, or by the secretary of labor, and those responsibilities govern the union's actions.”

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public to the extent required by law.”

“no 1099s are issued by the plan as payments are only for insurance premiums and benefits.”

“The financial statements have been prepared using the modified cash basis of accounting, a basis of accounting other than accounting principles generally accepted in the United States of America ("U.S. GAAP"). Contributions and other income are recognized when received rather than when earned and administrative expenses are recognized when paid rather than when the obligation is incurred. Interest income is recorded on the accrual basis, dividends are recorded on the ex-dividend date, changes in fair value of investments are recognized in the period they occur, and benefits are recognized when paid, which is consistent with U.S. GAAP. The financial statements are not intended to present the Plan's net assets available for benefits and the changes in its net assets available for benefits in conformity with U.S. GAAP.”