TIN:
SCHEDULE O
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ
Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2018
Open to Public
Inspection
Inspection
Name of the organization
SEIU LOCAL 73 MIDWEST BENEFITS FUND
Employer identification number
35-6065091
35-6065091
| Return Reference | Explanation |
|---|---|
| FORM 990, PART V, LINE 2A: | THE PLAN HAD ONE EMPLOYEE DURING THE REPORTING PERIOD (THE FUND ADMINISTRATOR). THE FUND ADMINISTRATOR WAS PAID THROUGH SERVICE EMPLOYEES INTERNATIONAL UNION LOCAL 73 (SEIU LOCAL 73). SEIU LOCAL 73 IS THE UNION THAT REPRESENTS, THROUGH COLLECTIVE BARGAINING, THE PARTICIPANTS OF THE PLAN, PRIOR TO PLAN TERMINATION. A W-2 WAS ISSUED BY SEIU LOCAL 73 FOR THE FUND ADMINISTRATOR. THE PLAN REIMBURSED SEIU LOCAL 73 FOR THE SALARY AND RELATED PAYROLL EXPENSES OF THE FUND ADMINISTRATOR. THE COMPENSATION OF THE FUND ADMINISTRATOR WAS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES. THE PLAN TERMINATED EFFECTIVE 12/31/17. AS REPORTED ON THE 2017 FORM 990, THE PLAN WAS STILL IN THE PROCESS OF WINDING UP IT AFFAIRS AND HAD NOT LIQUIDATED ALL ASSETS AS OF 12/31/17. THE NUMBER OF W2'S REPORTED IN PART V, LINE 2A REPRESENTS CASH DISTRIBUTION BENEFIT PAYMENTS DURING 2018 TO 225 PLAN PARTICIPANTS. W2'S WERE ISSURED TO THE 225 PLAN PARTICIPANTS. PAYROLL TAXES WERE WITHHELD AND PAID FOR THESE BENEFIT PAYMENTS, AS REQUIRED. |
| FORM 990, PART VI, SECTION A, LINE 8B | THERE ARE NO COMMITTEES THAT HAVE THE AUTHORITY TO ACT ON BEHALF OF THE BOARD OF TRUSTEES. |
| FORM 990, PART VI, SECTION B, LINE 11B | PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE, A COPY OF THE FORM 990 WAS PROVIDED TO ALL BOARD OF TRUSTEE MEMBERS FOR REVIEW AND APPROVAL. |
| FORM 990, PART VI, SECTION B, LINE 12C | TRUSTEES AND PLAN EMPLOYEES ARE EXPECTED TO PERFORM THEIR DUTIES CONSCIENTIOUSLY, HONESTLY AND IN ACCORDANCE WITH THE BEST INTEREST OF THE PLAN. TRUSTEES AND EMPLOYEES MUST NOT USE THEIR POSITION OR KNOWLEDGE GAINED AS A RESULT OF THEIR POSITION FOR PRIVATE OR PERSONAL ADVANTAGE. REGARDLESS OF THE CIRCUMSTANCES, IF AN PLAN EMPLOYEE OR TRUSTEE SUSPECTS THAT A COURSE OF CONDUCT HE/SHE HAS PURSUED, IS PRESENTLY PURSUING OR IF CONTEMPLATED PURSUING MAY INVOLVE A CONFLICT OF INTEREST WITH THE PLAN, THE PLAN EMPLOYEE OR TRUSTEE MUST IMMEDIATELY COMMUNICATE ALL THE FACTS TO THE ENTIRE BOARD OF TRUSTEES. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE SALARY AND BENEFITS OF THE FUND ADMINISTRATOR ARE REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES. THE FUND ADMINISTRATOR'S SALARY AND BENEFITS ARE PAID BY SEIU LOCAL 73. THE FUND REIMBURSED SEIU LOCAL 73 IN FULL FOR THE FUND ADMINISTRATOR'S SALARY AND BENEFITS. |
| FORM 990, PART VI, SECTION C, LINE 19 | GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART XII, LINE 1: | THE TRUSTEES VOTED TO TERMINATE THE PLAN EFFECTIVE DECEMBER 31, 2017. EFFECTIVE FOR THE 2017 FORM 990, IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA, THE PLAN CHANGED IT BASIS OF ACCOUNTING FROM AN ONGOING PLAN BASIS TO THE LIQUIDATION BASIS OF ACCOUNTING. |
| FORM 990, PART IV, LINE 31 AND FORM 990 - SCHEDULE N - PART I | AS REPORTED ON THE PRIOR YEAR 2017 FORM 990, THE BOARD OF TRUSTEES VOTED TO TERMINATE THE PLAN EFFECTIVE DECEMBER 31, 2017. ATTACHED TO THIS FORM 990 FILING IS THE BOARD OF TRUSTEE SIGNED RESOLUTION TO TERMINATE THE PLAN, AS REQUIRED. AS OF DECEMBER 31, 2017, THE PLAN WAS STILL IN THE PROCESS OF WINDING UP ITS AFFAIRS AND HAD NOT COMPLETELY LIQUIDATED ALL ASSETS. THE AMOUNTS REPORTED ON THE 2017 PRIOR YEAR FORM 990 WERE PRESENTED ON THE LIQUIDATION BASIS OF ACCOUNTING. UNDER THIS BASIS OF ACCOUNTING, ASSETS WERE VALUED AT THEIR ESTIMATED REALIZABLE VALUES AND LIABILITIES WERE VALUED AT THE AMOUNT OF CASH EXPECTED TO BE PAID. DURING 2018, IN ACCORDANCE WITH PLAN DOCUMENTS AND PROVISIONS, AND SUBJECT TO THE RULES OF ERISA, ALL REMAINING OBLIGATIONS OF THE PLAN WERE PAID, AND ANY REMAINING SURPLUS OF THE PLAN WAS DISTRIBUTED TO OR ON ON BEHALF OF PLAN PATICIPANTS. AS OF DECEMBER 31, 2018 ALL PLAN ASSETS WERE LIQUIDATED IN FULL. |
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2018
Additional Data
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