Research Triangle Institute Post Retirement Health Benefits Trust

“The Research Triangle Institute Post Retirement Health Benefits Trust was established by Research Triangle Institute to set aside funds to pay for benefits under the RTI International Retiree Health Plan. This trust is a voluntary employee benefits association (VEBA) under Section 501(c)(9) of the Internal Revenue Code. As Plan Administrator, the RTI Employee Benefits Committee is responsible for maintaining compliance with the plan document, ERISA, and the trust agreement. Members of this committee and delegates thereof include RTI senior management representatives from human resources, accounting and treasury. As Trustee of the VEBA, Wells Fargo Bank holds and administers the trust fund, pursuant to the terms of the trust agreement.”

“This trust is a voluntary employee benefits association (VEBA) under IRC Section 501(c)(9). The trustee is a bank that has a fiduciary duty to manage investments in the interest of the beneficiaries and operates pursuant to a stringent code of conduct. This VEBA trust does not have any employees, therefore there are no processes related to employee compensation.”

“The Form 990 is reviewed by the independent accounting firm PricewaterhouseCoopers. In addition, a copy of the Form 990 is provided to senior management personnel of Research Triangle Institute who are responsible for the financials of the RTI International Retiree Health Plan, for which this VEBA trust was established under IRC Section 501(c)(9).”

“As a 501(c)(9) organization, the trust is not required to make these documents available to the general public. Participants of the RTI International Retiree Health Plan are entitled to examine and obtain copies of plan documents and related program information in accordance with ERISA.”