Attach to Form 990 or 990-EZ.| Identifier | Return Reference | Explanation |
|---|---|---|
| AUDITED FINANCIAL STATEMENTS: | FORM 990, PART IV, LINE 11F, 12A AND 12B | THE TRUST WAS ESTABLISHED BETWEEN THE UAW AND GENERAL MOTORS, FORD MOTOR COMPANY, INC., AND CHRYSLER LLC (COLLECTIVELY, THE "AUTOMAKERS"). THE PURPOSE OF THE TRUST IS TO PROVIDE FUNDING OF THE RETIREE MEDICAL BENEFITS FOR SPECIFIED UAW REPRESENTED RETIREES OF THE AUTOMAKERS WITH RESPECT TO CLAIMS INCURRED ON OR AFTER JANUARY 1, 2010 AS PERMISSIBLE UNDER SECTION 501(C)(9) OF THE IRC. THE TRUST CONSISTES OF THREE SEPARATE EMPLOYEES' BENEFICIARY ASSOCIATIONS ("EBA") WHEREBY EACH RESPECTIVE EBA INCLUDES THE ELIGIBLE PARTICIPANTS OF EACH OF THE SEPARATE EMPLOYEE WELFARE BENEFIT PLANS. THE TRUST'S ASSETS ARE SEGREGATED INTO THREE SEPARATE ACCOUNTS - GENERAL MOTORS, FORD MOTOR COMPANY, INC. AND CHRYSLER LLC. THE THREE SEPARATE ACCOUNT PLANS EACH UNDERGO AN ANNUAL AUDIT. HOWEVER, THE UAW RETIREE MEDICAL BENEFITS TRUST ("RMBT") ITSELF DOES NOT HAVE AN ANNUAL AUDIT. THE AUDITED FINANCIAL STATEMENTS FROM THE THREE PLANS ARE USED BY THE RMBT AS THE BASIS FOR THE PREPARATION OF THE FORM 990. THE PLAN'S FINANCIAL STATEMENTS FOR THE PLAN YEAR ENDED DECEMBER 31, 2010 EACH RECEIVED AN UNQUALIFIED OPINION FROM DELOITTE & TOUCHE LLP. |
| FOREIGN BANK ACCOUNTS: | FORM 990, PART V, LINE 4 | BY VIRTUE OF THE UAW RETIREE MEDICAL BENEFITS TRUST INDIRECT OWNERSHIP IN CHRYSLER GROUP LLC, THE TAXPAYER IS DEEMED TO HAVE A FINANCIAL INTEREST, BUT NO SIGNATURE AUTHORITY, IN THE VARIOUS FOREIGN BANK ACCOUNTS HELD BY CHRYSLER GROUP, LLC. |
| NUMBER OF EMPLOYEES | FORM 990, PART V, LINE 2A | TOTAL FORM W-2'S FILED PER THE FORM W-3 IS 241 WHICH INCLUDES PLAN PARTICIPANTS WHO ARE REQUIRED TO RECEIVE FORM W-2 FOR IMPUTED INCOME TO REPORT FUTA WITHHOLDING. THE RMBT ITSELF HAS A TOTAL OF 62 EMPLOYEES. |
| FORM 990, PART VI | A PROFESSIONAL TAX PREPARER IS ENGAGED TO PREPARE THE FORM 990. THE TRUST'S CHIEF FINANCIAL OFFICER, AS WELL AS EXTERNAL COUNSEL, REVIEW THE FORM 990 PRIOR TO SUBMITTING TO THE AUDIT COMMITTEE OF THE TRUST FOR THEIR REVIEW. A DRAFT COPY OF FORM 990 IS PROVIDED TO THE MEMBERS OF THE COMMITTEE (I.E. THE GOVERNING BODY OF THE TRUST) FOR REVIEW PRIOR TO FINALIZATION AND FILING WITH THE INTERNAL REVENUE SERVICE. THE INDEPENDENT CPA FIRM PREPARING THE RETURN IS AVAILABLE FOR THE COMMITEE MEMBERS TO ASK QUESTIONS. | |
| FORM 990, PART VI, SECTION A, LINE 2 | JIM SETTLES IS ONE OF 11 DIRECTORS OF THE UAW RETIREE MEDICAL BENEFITS TRUST ("RMBT"), AND IS ONE OF 33 DIRECTORS OF BLUE CROSS BLUE SHIELD OF MICHIGAN RMBT TRUSTEES RONALD GETTELFINGER, GENERAL HOLIEFIELD, CAL RAPSON, DANIEL SHERRICK, ROBERT KING, JAMES SETTLES, AND JOE ASHTON ARE ALL MEMBERS OR OFFICERS OF THE INTERNATIONAL UNION, UNITED AUTOMOBILE, AEROSPACE AND AGRICULTURAL IMPLEMENT WORKERS OF AMERICA ("UAW"). | |
| FORM 990, PART VI, SECTION B, LINE 11 | A DRAFT COPY OF FORM 990 IS PROVIDED TO THE MEMBERS OF THE COMMITTEE FOR REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. THE INDEPENDENT C.P.A. FIRM PREPARING THE RETURN IS AVAILABLE FOR THE COMMITTEE MEMBERS TO ASK QUESTIONS. | |
| FORM 990, PART VI, SECTION B, LINE 12C | THE TRUST'S CONFLICT OF INTEREST POLICY IS APPLIED TO ALL EMPLOYEES AND COMMITTEE MEMBERS, AS WELL AS THEIR IMMEDIATE FAMILY MEMBERS. EACH OF THESE INDIVDUALS MUST DISCLOSE ALL 5% OR GREATER OWNERSHIP INTERESTS, COMPENSATION ARRANGEMENTS AND BOARD MEMBERSHIPS TO THE TRUST UPON COMMENCEMENT OF THEIR ROLE, AND TO PROVIDE QUATERLY UPDATES OF ANY CHANGES IN THEIR DISCLOSURES. FURTHER, BUSINESS MEALS AND EDUCATIONAL CONFERENCES ARE SEVERELY RESTRICTED AND MUST BE DISCLOSED. THE TRUST'S GENERAL COUNSEL REVIEWS ALL CONFLICT OF INTEREST DISCLOSURE FORMS. | |
| FORM 990, PART VI, SECTION B, LINE 15 | SINCE THE UAW RETIREE MEDICAL BENEFITS TRUST IS A NEW ORGANIZATION, IT ENGAGED INDEPENDENT CONSULTANTS AND EXECUTIVE SEARCH FIRMS TO CONSULT WITH MEMBERS OF THE TRUST'S GOVERNING BODY ("THE COMMITTEE") TO ESABLISH STAFFING NEEDS, JOB REQUIREMENTS, COMPENSATION BENCHMARKS AND SALARY RANGES. THE INDEPENDENT CONSULTANTS INITIALLY WORKED WITH THE COMMITEE CHAIRMAN AND THEN SUBSEQUENTLY WITH THE OTHER MEMBERS OF THE COMMITEE TO IDENTIFY NECESSARY JOB POSITIONS, DEVELOP AN ORRANIZATION CHART, PREPARE JOB DESCRIPTIONS, ASSIGN PAY GRADE TO EACH POSITION, AND BENCHMARK SALARY SURVEYS FOR VARIOUS JOB POSITIONS. SALARY SURVEYS CONSIDERED HEALTH CARE ORGANIZATIONS, INVESTMENT MANAGEMENT FIRMS, AND OTHER TRUST ORGANIZATIONS. THIS BENCHMARK DATA WAS USED BY THE COMMITTEE TO ESTABLISH AND APPROVE COMPENSATION OFFERED TO THE TRUST'S FIRST CEO, CFO AND CIO, AS WELL AS ESTABLISHING PAY RANGES FOR EACH LOWER PAY GRADE. THE COMMITTEE WAS ADVISED ON A PERIODIC BASIS OF STAFFING STATUS AND ACTIVITIES. | |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION UPON WRITTEN REQUEST MADE DIRECTLY TO THE ORGANIZATION. | |
| INDEPENDENT FIDUCIARIES: | FORM 990, PART VII | INDEPENDENT FIDUCIARIES HAVE BEEN APPOINTED FOR EACH OF FORD MOTOR COMPANY (INDEPENDENT FIDUCIARY SERVICES, INC.), CHRYSLER GROUP LLC (BROCK SECURITIES LLC), AND GENERAL MOTORS COMPANY (FIDUCIARY COUNSELORS, INC.). THE INDEPENDENT FIDUCIARIES ARE NOT REQUIRED TO BE REPORTED IN PART VII BUT ARE BEING DISCLOSED IN SCHEDULE O DUE TO THE IMPORTANT ROLE THEY HAVE IN ADMINISTERING THE RMBT INVESTMENTS. THE FOLLOWING EXPLAINS THE ROLE AND RESPONSIBILITIES OF THE INDEPENDENT FIDUCIARIES IN MORE DETAIL: PURSUANT TO ARTICLE XI OF THE TRUST AGREEMENT, THE COMMITTEE, IN ITS SOLE DISCRETION, IS INSTRUCTED TO SELECT AND APPOINT AN INDEPENDENT FIDUCIARY AS NAMED FIDUCIARY AND INVESTMENT MANAGER WHO, FROM AND AFTER THE DATE OF THE SETTLEMENT AGREEMENTS WITH EACH OF FORD MOTOR COMPANY, CHRYSLER GROUP LLC, AND GENERAL MOTORS COMPANY, SHALL HAVE AND EXERCISE ALL DISCRETIONARY POWER AND AUTHORITY OF THE TRUST WITH RESPECT TO THE MANAGEMENT, DISPOSITION AND VOTING OF THE RESPECTIVE SECURITIES CONTRIBUTED BY EACH OF THE AUTOMOTIVE COMPANIES, EXCEPT THAT THE RIGHT TO DESIGNATE OR REPLACE ANY DIRECTOR OF THE CONTRIBUTING AUTOMOTIVE COMPANY SHALL BE EXERCISED BY THE COMMITTEE. PURSUANT TO ITS AUTHORITY UNDER THE TRUST AGREEMENT, THE COMMITTEE HAS DELEGATED TO THE INVESTMENT SUBCOMITTEE THE AUTHORITY TO RETAIN THE INDEPENDENT FIDUCIARY AND MONITOR THE PERFORMANCE OF ITS SERVICES. THE COMMITTEE HAS THE POWER TO REMOVE AND REPLACE AN INDEPENDENT FIDUCIARY FOR CAUSE. THE INDEPENDENT FIDUCIARIES ARE AUTHORIZED AS FOLLOWS FOR THE RESPECTIVE SECURITIES: 1.EXERCISE DIRECTLY OR ON BEHALF OF THE TRUST, OR DIRECT THE TRUSTEE TO EXERCISE AS APPROPRIATE, ALL OF THE TRUST'S LEGAL AND CONTRACTUAL AUTHORITY AND RESPONSIBILITY AS OWNER OF THE NOTES, THE SHARES, AND ANY FUTURE SECURITIES (AS APPLICABLE) (HEREIN COLLECTIVELY REFERRED TO AS "AUTO SECURITIES") ACQUIRED BY THE TRUST, INCLUDING: A. EXERCISING ALL RIGHTS OF THE TRUST OR VEBA HOLDCO IN ITS SOLE DISCRETION INCLUDING BUT NOT LIMITED TO INITIATION OR PARTICIPATION IN THE REGISTRATION OF ANY AUTO SECURITIES; EXERCISING ALL VOTING RIGHTS WITH RESPECT TO AUTO SECURITIES, AND NEGOTIATING AND ACCEPTING ANY AMENDMENTS TO THE TRANSACTION AGREEMENTS; B. ACCEPTING ANY CONTRIBUTION OF ADDITIONAL AUTO SECURITIES; C. VALUING THE AUTO SECURITIES; D. MAKING ANY DECISION TO SELL, LOAN, HYPOTHECATE, PLEDGE AS SECURITY FOR A LOAN,EXCHANGE, CONVERT OR OTHERWISE DISPOSE OF ALL OR ANY OF THE AUTO SECURITIES; E. COMPLYING WITH ANY CONDITIONS OR LIMITATIONS IN ANY FINAL PROHIBITED TRANSACTION EXEMPTION ("PTE") ISSUED BY THE DEPARTMENT OF LABOR; F. COMPLYING OR ASSISTING AUTO IN COMPLYING AS REQUIRED IN ANY TRANSACTION AGREEMENT, WITH ANY REGULATORY OR OTHER REQUIREMENTS, INCLUDING FILING OBLIGATIONS; G. INITIATING OR PARTICIPATING IN ANY CLAIM OR SUIT AGAINST A PARTY TO ANY OF THE TRANSACTION AGREEMENTS ARISING OUT OF BREACH, OR RELATED TO THE ISSUANCE AND OWNERSHIP OF, THE AUTO SECURIITIES; H. THE INDEPENDENT FIDUCIARIES MAY ALSO SELECT AND CONTRACT ON BEHALF OF THE TRUST WITH SUCH AUDITORS, APPRAISERS, ACTUARIES, INVESTMENT ADVISORS, BROKERS, DEALERS AND UNDERWRITERS, AND OUTSIDE LEGAL COUNSEL AS THE INDEPENDENT FIDUCIARY DEEMS APPROPRIATE TO ASSIST THE INDEPENDENT FIDUCIARY IN THE PERFORMANCE OF ITS DUTIES. 2. ADVISE THE COMMITTEE WITH RESPECT TO THE MANNER IN WHICH AUTO SECURITIES SHOULD BE REFLECTED OR INCORPORATED INTO THE FUNDING POLICY TO BE ADOPTED BY THE COMMITTEE 3.REPORT AT LEAST ONCE A YEAR TO THE COMMITTEE AS A WHOLE, AND PERIODICALLY REPORT AS NECESSARY TO THE INVESTMENT COMMITTEE. |
| COMPENSATION OF OFFICERS, DIRECTORS, TRUSTEES | FORM 990, PART VII | EFFECTIVE JULY 1, 2010, DANIEL SHERRICK TERMINATED HIS EMPLOYMENT WITH THE INTERNATIONAL UNION, UNITED AUTOMOBILE, AEROSPACE, AND AGRICULTURAL IMPLEMENT WORKERS OF AMERICA AND BECAME AN EMPLOYEE OF THE TRUST. MR. SHERRICK'S COMPENSATION RELATED SOLELY TO HIS EMPLOYMENT BY THE TRUST. HE WAS NOT COMPENSATED FOR BEING A COMMITTEE MEMBER. |
| HOURS DEVOTED TO RELATED ORGANIZATIONS: | FORM 990, PART VII | IN ADDITION TO THE HOURS DEVOTED TO THE UAW RETIREE MEDICAL BENEFITS TRUST, ERIC HENRY, MARY BETH KUDERIK, DANIEK SHERRICK, ROBERTY NAFTALY, AND OLENA LACY DEVOTE TIME WEEKLY TO A RELATED ORGANIZATION. THEIR TIME IS SPENT AS FOLLOWS: ERIC HENRY DEVOTES APPROXIMATELY 2 HOURS TO THE VARIOUS CHRYSLER HOLDCOS. MARY BETH KUDERIK DEVOTES APPROXIMATELY 2 HOURS TO THE VARIOUS CHRYSLER HOLDCOS. ROBERT NAFTALY DEVOTES APPROXIMATELY 1 HOUR TO THE VARIOUS CHRYSLER HOLDCOS. OLENA LACY DEVOTES APPROXIMATELY 1 HOUR TO THE VARIOUS CHRYSLER HOLDCOS. DANIEL SHERRICK DEVOTES APPROXIMATELY 1 HOUR TO THE VARIOUS CHRYSLER HOLDCOS. |
| FOR PROFIT SUBSIDIARY PRESENTATION: | FORM 990, PART VIII & PART IX | THE FORM IS FOR THE TRUST THAT ENCOMPASSES 3 PLANS. THE FORM 990 IS REPORTED AT THE TRUST LEVEL AND INCLUDES THE SUM OF THE THREE PLAN FINANCIAL STATEMENTS. PLAN FINANCIAL STATEMENT REPORTING FOR THE CHRYSLER PLAN INCLUDES THE 13 CHRYSLER HOLDCO ENTITIES AS DESCRIBED IN SCHEDULE O AND REPORTED ON SCHEDULE R. ACCORDINGLY, BASED ON THE PLAN REPORTING REQURIEMENTS, CERTAIN ACTIVITIES OF THE HOLDCO LEGAL ENTITIES ALSO APPEAR ON THE FORM 990 OF THE TAXPAYER. STATE TAXES IS AN EXAMPLE OF AN EXPENSE ITEM OF THE HODLCO'S THAT APPEAR ON THE FORM 990 OF THE TAXPAYER. |
| RECONCILATION TO AUDITED FINANCIAL STATEMENTS: | FORM 990, PART X, LINE 32 | NET ASSETS OR FUND BALANCE AS OF DECEMBER 31, 2010 (PER SEPARATE AFS) ARE $58,837,778,000 AND NET ASSETS OR FUND BALANCE AS OF DECEMBER 31, 2010 (FORM 990, LINE 32) ARE $58,549,689,777. THE DIFFERENCE ARE ACCOUNTS THAT WERE RECLASSED FROM "STATEMENT OF CHANGES" (PER SEPARATE AFS) TO BALANCE SHEET (FORM 990) OF $(288,087,504) AND A MISCELLANEOUS ADJUSTING OF $(719). |
| CHANGES IN NET ASSETS OR FUND BALANCES: | FORM 990, PART XI, LINE 5: | NET UNREALIZED GAINS ON INVESTMENTS: 8,263,162,072. |
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