Beverly Hills Poa Supplemental Ben Trust

“There are seven trustees, six of whom are selected by the members of the beverly hills police officers' association and one of whom shall be reserved for a retiree who is elected by retirees participating in the trust. If no retiree is available at the time of election, then all seven positions may be filled by non-retirees. Each person serving as a trustee shall be a member in good standing of the beverly hills police officers' association or an eligible retiree under the plan. Election shall be conducted according to the procedures provided for in the by-laws of the beverly hills police officers' association. The beverly hills police officers' association may remove a trustee with the recommendation of the majority of the trustees and upon a majority vote to remove a trustee by the voting membership of the beverly hills police officers' association. In the event of resignation or death or removal of a trustee, the board of directors of the beverly hills police officers association shall select a successor trustee for the remainder of that term.”

“The trust agreement reserves limited authority for the plan sponsor to make decisions regarding changes to the composition of the board of trustees and to receive notice or approve of mergers, terminations and trust agreement amendments.”

“The trust has no other committees.”

“The chairman and treasurer read the form 990 for completeness and accuracy, and compare the amounts to the trust's audited financial statements. The chairman and treasurer also "spot check" for mathematical errors within the form before signing and filing. A copy of the form 990 is provided to each member of the board of trustees prior to filing with the irs.”

“In accordance with plan document section 7.2, trustees are required to review erisa and applicable statues at least annually during their board meeting. A trustee shall report a potential conflict of interest to the board of trustees as soon as possible. Plan document section 7.3 further restricts a fiduciary from (a) utilizing assets of the trust to his own interest or his own account, (b) acting a transaction involving the trust on behalf of a party whose interests are adverse to the interests of the trust or its participants, or (c) receiving consideration for his personal account from any party dealing with the trust in connection with transactions involving the assets of the trust.”

“Trust financial information in the form of summary annual report is provided to participants on an annual basis. Trust governing documents and a full set of financial statements are available to participants upon request.”

“The trust is subject to erisa section 510, hence the trust does not have a separate written whistleblower policy.”

“The board of trustees assumes the responsibility for oversight of the audit of its financial statements. There is no separate audit committee.”