Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 3 | THE ILLINOIS FAIR PLAN (IFPA) AND THE PLAN ADMINISTRATOR SELECTED BMO HARRIS BANK AS CORPORATE CO-TRUSTEES AND CUSTODIAN OF THE ASSETS OF THE VEBA TRUST AND ENTERED INTO A TRUST AGREEMENT WITH THE CO-TRUSTEE ON BEHALF OF THE VEBA. THE PLAN ADMINISTRATOR, WHICH IS A FIDUCIARY OF THE PLAN AND THE VEBA TRUST, HAS THE AUTHORITY AND RESPONSIBILITY FOR DEVELOPING INVESTMENT OBJECTIVES FOR THE VEBA TRUST AND THE CORPORATE TRUSTEE HAS DISCRETIONARY AUTHORITY AND RESPONSIBILITY FOR ALL INVESTMENT AND PRESERVATION OF THE VEBA TRUST ASSETS, SUBJECT TO THE INVESTMENT OBJECTIVES ESTABLISHED BY THE PLAN ADMINISTRATOR AND NON-CORPORATE TRUSTEE OF THE VEBA TRUST. |
| FORM 990, PART VI, SECTION A, LINE 8B | NO COMMITTEES AUTHORIZED TO ACT ON BEHALF OF THE GOVERNING BODY |
| FORM 990, PART VI, SECTION B, LINE 11B | TRUSTEES RETAIN THE SERVICES OF A CPA FIRM TO PREPARE THE ORGANIZATION'S FORM 990, CONSULT WITH LEGAL COUNSEL AS NECESSARY AND REVIEW THE COMPLETED FORM 990 PRIOR TO FILING |
| FORM 990, PART VI, SECTION B, LINE 12 | TRUSTEES DISCUSS/ REVIEW CONFLICTS ANNUALLY AT A MEETING OF THE TRUSTEES |
| FORM 990, PART VI, SECTION B, LINE 15 | THE CHAIR AND OTHER BOARD MEMBERS ARE COMPENSATED EMPLOYEES OF RELATED ORGANZATION, ILLINOIS FAIR PLAN ASSOCATION. COMPENSATION REVIEW PROCEDURES ARE PERFORMED BY RELATED ORGANIZATION. COMPENSATION IS BASED ON A SALARY GRID WITH SPECIFIC SALARY RANGES FOR ALL EMPLOYEES AT THE ASSOCIATION. SALARY RANGES IN PLACE FOR ALL POSITIONS WITHIN THE ASSOCIATION WERE DEVELOPED BASED ON SIMILAR POSITIONS WITHIN THE INDUSTRY AND ARE UPDATED ANNUALLY WITH COST OF LIVING ADJUSTMENTS. A SALARY SURVEY WAS COMPLETED IN 2018 TO CONFIRM ACCURACY. ANNUAL ADJUSTMENTS IN COMPENSATION ARE PROPOSED BY APPROPRIATE SUPERVISOR, BASED ON INDUSTRY AVERAGES AND PERFORMANCE, AND APPROVED BY THE GENERAL MANAGER AS WELL AS THE EXECUTIVE AND COMPENSATION COMMITTEE. THE GENERAL MANAGER'S ANNUAL SALARY IS DETERMINED BY THE EXECUTIVE AND COMPENSATION COMMITTEES. |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS AND FINANCIAL REPORTS ARE AVAILABLE UPON WRITTEN REQUEST TO THE BENEFICIARIES OF THE VEBA. IN ADDITION, THE VEBA IS A FUNDING VEHICLE FOR A GROUP HEALTH PLAN THAT IS SUBJECT TO ERISA, AND THE PLAN DOCUMENTS, TRUST AGREEMENTS, AND SUMMARY PLAN DESCRIPTON ARE PROVIDED TO THE BENEFICIARIES UPON REQUEST |
| Software ID: | |
| Software Version: |