American Electric Pwr System Retiree Life

“The bank of new york mellon serves as the sole directed trustee of american electric power system retiree life insurance trust. The plan sponsor is american electric power service corporation. The trust is administered by the plan sponsor in accordance with the terms of the trust agreement. As such, the veba does not have a governing body that exercises discretion.”

“A complete electronic copy of the organization's form 990 was provided to the trustee for review prior to filing with the irs.”

“These questions are not applicable to the trust. Additionally, the trust does not have any employees, therefore, no processes related to employee compensation are in place.”

“Average hours per week devoted to positions: as trustee, the bank of new york mellon provides administrative services such as acting as investment manager for the american electric power system retiree life insurance trust. These services require numerous individual bank employees' involvement in the activities of the organization and thus cannot be quantified on an hourly basis.”

“Therefore, the trustee's fees are not based upon hourly basis, but are calculatedbased upon factors such as the market value of the account and in accordance with the bank of new york mellon's agreement with the american electric power service corporation.”

“As a 501 (c)(9) organization the trust is not required to make the documents referenced in question 19 available to the general public.”

“Although the financial statements of the trust, as such, were not reviewed by an independent accountant, the financial activity of the trust is incorporated into the financial statements of the erisa welfare benefit plan to which the trust relates, and the annual financial statements of that plan are audited by an independent accountant.”

“The plan sponsor has a committee that is responsible for the oversight of the audit of those financial statements and the selection of the independent accountant.”

“MODIFIED CASH BASIS”