Southern California Edison Co Veba

“This veba is an independent trust within the edison international welfare benefit plan. Accordingly, the edison international trust investment committee has the ultimate power to make the governance decisions, including the power to appoint or remove the institutional trustee.”

“This veba is an independent trust within the edison international welfare benefit plan. Accordingly, the edison international trust investment committee has the ultimate power to make the governance decisions, including the power to appoint or remove the institutional trustee.”

“The form 990 is prepared by deloitte tax, llp. After an initial draft of the form 990 is prepared, it is submitted to the southern california edison ("sce") tax department for review and comment. It will be signed by the sce vp of tax.”

“As an employee welfare benefit plan, as defined in section 3 (1) of erisa, this organization is subject to and in compliance with a stricter set of conflict of interest rules. Its conflict of interest policy is stated in section 9.5 of the organization's trust agreement.”

“This organization does make its governing documents (including its conflict of interest policy) available to its members upon request. The financial statements are contained in its form 5500, which is available for public inspection upon request.”

“The northern trust, 50 s. Lasalle street, chicago, il 60603.”

“To qualify as "exempt function income", the set aside income earned by a veba shall not exceed the reserves permitted under code section 419a for the year, excluding any reserve under code section 419(c)(2)(a) for retiree medical benefits. Under code section 419a(f)(5), no reserve limitation applies to collectively bargained plans. The veba is exclusively for represented employees and therefore, its income qualifies as exempt function income which is not subject to ubti tax. It is still subject to ubti tax on any unrelated business income that is allocated to the veba from investment schedule k-1s received. For the current year, the veba was allocated income and expenses from several schedule k-1s that were classified as ubi, which resulted in a net ubi.”

“Net unrealized gain/loss on security movements 111,903,480. Security receipts/deliveries 35,550,176. Inter bank settlements -28,028,404. Accretion/amortization -681,774. Consent fee income 87,750.”

“The organization's net assets are included as part of the total net assets held by the edison international welfare benefit plan. The financial statements of the plan are audited on a consolidated basis.”