Working Waterfront Coalition Health Trust

“Jim Kyle is a trustee of the trust and serves on the Board of Directors of the Working Waterfront Coalition of Whatcom County, which is the endorsing sponsor of the trust.”

“The Trust has contracted with a third-party administrator (Vimly Benefit Solutions, Inc.) to provide bookkeeping and administrative services, and with Vigilant Services, Inc. and Working Waterfront Services, LLC to provide certain marketing, sales, advisory, administration compliance and monitoring services.”

“The Trust is designed to be administered by a Board of Trustees composed of at least three Trustee positions. A majority of Trustees are to be employees or owners of participating employers. Initially there has been an insufficient pool of individuals willing to serve as Trustee. Therefore, the endorsing sponsor of the trust, Working Waterfront Coalition of Whatcom County, has appointed an interim Trustee and may appoint two additional interim Trustees. While governed by a single interim Trustee, some of the Trust Agreement requirements are suspended. The sole interim Trustee has all other rights, duties and responsibilities of the full Board of Trustees. In the event of a Trustee vacancy, the remaining Trustees will, by majority vote, nominate an individual to serve as a successor Trustee. Additionally, Working Waterfront Coalition of Whatcom County, at its discretion, may also nominate an individual to fill the vacant position. If there is only one nomination and no additional nominations are received, the nominated individual is appointed to the Board of Trustees following notice of the nomination mailed by the administrative office to all participating employers. If, within thirty days of the mailing, participating employers whose contributions to the Trust exceed 50% of all contributions during the preceding year object to the new Trustee, the Trustee nomination will be withdrawn and a new Trustee will be nominated. The new Trustee may act as a Trustee during the notice period. If both the current Trustees and Working Waterfront Coalition of Whatcom County nominate a new Trustee, the administrative office will prepare and mail a ballot for the purpose of choosing the individual to fill the contested Trustee position. Ballots will identify both of the nominees for the position and will be mailed to all participating employers. Each participating employer will be entitled to one vote for each Trustee position. Ballots must be received within thirty days of the date of mailing to be counted. The nominee that receives the majority of the votes cast will be appointed to the Board of Trustees. In the event of a tie, the votes will be weighed by the amount of the contributions each voting participating employer has made to the Trust in the preceding year.”

“The Form 990 was prepared under the guidance of the Trustee by the independent accounting firm SCHOEDEL & SCHOEDEL, Certified Public Accountants, PLLC. Draft copies of the Trust's financial statements and Form 990 were first provided to the Trust's consultants and advisors, who reviewed the Form 990 for accuracy and completeness. Any questions, concerns or issues raised by the consultants and advisors were addressed and any necessary revisions were made to the Form 990. The revised Form 990 was then provided to the Trustee for his review and approval. Any additional questions, concerns or issues raised by the Trustee were addressed and any necessary revisions were made to the Form 990. The final version of the Form 990 was reviewed and approved for filing by the Trustee.”

“All proposed relationships and contracts with service providers, as well as all proposed investments that would be made by the Trust, are provided to and reviewed by Trust legal counsel for compliance with the prohibited transaction provisions of ERISA. Additionally, each party-in-interest (fiduciary or service provider) has an ongoing duty to disclose all material facts to the Trustee about any actual or potential conflicts of interest as soon as such facts become known or should have become known.”

“The Trust's governing documents, conflict of interest policy, financial statements and Form 990 are available to the general public upon written request sent to Vimly Benefit Solutions, Inc. at: P.O. Box 6, Mukilteo, WA 98275.”

“The Trust does not compensate the Trustee, as the Trustee serves on a voluntary basis. The Trustee is believed to be uncompensated for any services to Working Waterfront Services, LLC, which provides management and consulting services to the Trust. The Trust does not readily have access to information related to compensation paid by other entities.”