2024-11-14T18:49:12-06:00 2024-06-30 910614823 SCHOEDEL & SCHOEDEL CPAS PLLC 422 W RIVERSIDE AVE STE 1420 SPOKANE WA 992010395 990 2023-07-01 911214669 VEBA Trust for Public Employees in the State of WA VOLU 5098385571 221 N Wall Street 201 Spokane WA 99201 Greg Baker Chairman 5098385571 2024-11-14 1 1 SCOTT OPPERUD CPA P00542597 5097472158 2024-11-11 2023 2024-10-15 13:58:12Z Greg Baker 221 N Wall Street 201 Spokane WA 99201 362746064 0 X www.veba.org X 1983 WA The VEBA Trust provides high-quality, tax advantaged health reimbursement plans for public employees in Washington. 6 6 0 0 0 0 0 0 93568144 92846928 7692727 19342747 23665 6431 101284536 112196106 0 0 70644708 74986202 0 0 0 0 0 7277617 7399770 77922325 82385972 23362211 29810134 518950704 583199907 2310154 2966638 516640550 580233269 To provide high-quality, tax-advantaged health reimbursement plans for public employees in Washington. 0 0 This trust holds the assets of the Voluntary Employees' Beneficiary Association Trust Plan for Public Employees of the State of Washington (the Plan). The Plan provides a method of funding qualified health and welfare costs to its participants and their dependents. 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 709 0 1 0 0 0 0 0 0 0 0 0 X 6 6 0 0 1 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X Gallagher Benefit Services Inc 5098385571 221 N Wall Street Suite 201 Spokane WA 99201 X X Greg Baker Chair 1.00 X X 0 0 0 Mathew Knott Vice Chair 1.00 X X 0 0 0 Shane Backlund Secretary 1.00 X X 0 0 0 Maria Breuder Treasurer 1.00 X X 0 0 0 Cameron Grow Trustee 1.00 X 0 0 0 Elaine Thompson Trustee 1.00 X 0 0 0 0 0 0 0 0 0 0 Arthur J Gallagher & Co 221 N Wall Street Suite 201 Spokane WA 99201 Consulting, marketing and client svc,cus 3920976 OneBridge Benefits 170 Franklin St Suite 700 Buffalo NY 14202 Software admin. claims and eligibility a 2522866 Goldman Sachs Asset Management 100 Bank St Burlington VT 05401 Investment consulting services 203464 Washington Trust Bank Wealth Management PO Box 2127 Spokane WA 99210 Investment,custodial,and banking service 144700 4 Plan contributions 525100 92846928 92846928 92846928 13402224 13402224 256490481 250549958 5940523 5940523 5940523 Other income 525100 6431 6431 6431 112196106 92853359 0 19342747 74986202 2994419 111598 35730 371768 3287558 172593 33077 38580 PCORI fee 345354 Bank charges 9093 82385972 3070591 3355250 2042989 1243652 4903597 6274360 31313 28272 378878642 441743436 130023572 130554937 518950704 583199907 1163058 1272792 1147096 1693846 2310154 2966638 X 516640550 580233269 516640550 580233269 518950704 583199907 X 29810134 33793193 -10608 X 0 1 X 0 0 0 Cash surrender value of life insurance 900223 F Synthetic guaranteed investment contracts 129654714 C 130554937 145978691 33793193 -10608 33782585 112196106 0 112196106 82385972 0 82385972 0 82385972 Part XI, Line 2d - Other Adjustments: Net decrease in accumulated cash surrender value of life insurance policies -10,608. Form 990, Part VI, Section A, line 4 The MEP plan documents were amended and restated effective January 1, 2024. Amendments and restatements included, but were not limited to, updates to administrative procedures and directives. Form 990, Part VI, Section A, line 7a WASA, AWSP and WASBO each appoint two Trustees to the Board of the Trustees. Form 990, Part VI, Section B, line 11b The Form 990 was prepared by the independent accounting firm of SCHOEDEL & SCHOEDEL, Certified Public Accountants, PLLC based on information provided by the third-party administrators. Draft copies of the Trust's financial statements and Form 990 were first provided to the Trust's consultants and advisors, who reviewed the Form 990 for accuracy and completeness. Any questions, concerns or issues raised by the consultants and advisors were addressed and any necessary revisions were made to the Form 990. The revised Form 990 was then provided to the Board of Trustees for its review and approval. Any additional questions, concerns, or issues raised by the Board of Trustees were addressed, and any necessary revisions were made to the Form 990. The final version of the Form 990 was reviewed, approved, and authorized to be filed by the Board of Trustees. Form 990, Part VI, Section B, line 12c Trustees, service providers, third-party administrators, or any other person having responsibility for the management or administration of the Trust's finances, investments, or other proprietary information concerning the Trust are considered interested persons. An interested person is under a continuing obligation to disclose any potential conflict of interest to the Board of Trustees as soon as it is known or reasonably should be known. The interested person is given the opportunity to disclose all material facts to the Trustees when considering the proposed transaction or arrangement. After disclosure of the financial, professional, or personal interest and all material facts, and after any discussion with the interested person, he/she leaves the Trustees meeting while the determination of a conflict of interest is considered. If the disinterested Trustees determine a conflict of interest exists, the Chairman of the Board, if appropriate, appoints a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the Trustees determine whether the Trust can obtain, with reasonable efforts, a more advantageous transaction or arrangement with a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably attainable under circumstances that would not give rise to a conflict of interest, the Board or committee determines by majority vote of the disinterested Trustees whether the transaction agreement or arrangement is in the Trust's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination the Trustees decide whether or not to enter into the transaction, agreement or arrangement. The minutes of the meeting reflect that the conflict disclosure was made to the Board, the vote taken and, where applicable, the abstention from voting and participation by the interested party. Whenever possible, the minutes frame the decision of the Board in such a way to provide guidance for consideration of future conflict of interest situations. To ensure the Trust operates in a manner consistent with its tax-exempt purposes and does not engage in activities that could jeopardize its tax-exempt status, the Board of Trustees conducts periodic reviews. The periodic reviews include, at a minimum, the following subjects: Whether the contractual arrangements with service providers and the services provided are reasonable, based on competent market and survey information, and the result of arm's length negotiation; Whether contractual arrangements with service providers and arrangements with other organizations conform to written policies, are properly recorded, reflect reasonable investment or payments for goods and services, further tax-exempt purposes, and do not result in inurement, impermissible private benefit or in an excess benefit transaction; and Whether any transaction conducted by the Trust during the review period involves or could possibly give rise to a conflict of interest. Form 990, Part VI, Section B, line 15 There are no compensated management officials, officers or key employees of the Trust. If the Trust had such compensated individuals, policies and procedures would be developed to determine compensation. Form 990, Part VI, Section C, line 19 The Trust makes its governing documents, conflict of interest policy, financial statements, and Form 990 available to the public upon written request by contacting the Trust at 221 N Wall Street, Suite 201, Spokane, WA 99201. Form 990, Part VII, Section A, Line 1a: The Trust does not compensate the members of the Board of Trustees for their duties as Trustees. The Board of Trustees is comprised of six individuals, all of whom are superintendents, principals or heads of business offices in schools in the State of Washington. In their roles as Trustees, all are fiduciaries and understand their obligations under the Trust Agreement and the Trust's policies and procedures, which include a conflict-of-interest policy. The Trust does not readily have access to information related to any compensation paid by other entities to the Trustees. The Trustees serve on a voluntary basis, and receive no known compensation adjustment from their employers, or any other party, for their services on the Board. Form 990, Part XI, line 9: Net decrease in accumulated cash surrender value of life insurance policies -10,608. 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501 Benge School District Bethel School Dist Bickleton SD #203 Blaine School District Boistfort School District Bremerton School Dist Brewster SD # 111 Bridgeport School District Brinnon School District Burlington Edison School Dist Camas School District 117 Cape Flattery SD #401 Carbonado Historical SD 19 Cascade SD #228 Cashmere SD #222 Castle Rock School Dist 401 Centerville School Dist 215 Central Kitsap School Dist 401 Central Valley School District Centralia School District Chehalis School District Cheney School Dist 360 Chewelah School District 36 Chimacum SD 49 Cispus Chewelah Peak Learning Clarkston School District Cle Elum Roslyn SD 404 Clover Park SD Colfax SD # 300 College Place School Dist 250 Colton SD #306 Columbia School District 206 Columbia School District 400 Colville School District 115 Concrete School District 11 Conway School District 317 Cosmopolis School Dist No 99 Coupeville School District 204 Crescent SD # 313 Creston School Dist #73 Curlew School District #50 Cusick SD #59 Darrington SD #330 Davenport School Dist #207 Dayton SD #2 Deer Park School District 414 Dieringer SD #343 E Valley SD # 361 Spokane East Valley S D # 90 Eastmont School District Easton School District #28 Eatonville S D #404 Edmonds S D 15 Ellensburg S D # 401 Elma School District Endicott School District 308 Entiat SD # 127 Enumclaw School District Ephrata School District 165 Educational Service Dist #101 Educational Service Dist #105 Educational Service Dist 112 Educational Service Dist 113 Educational Service Dist 114 Educational Service Dist 121 Educational Service Dist 123 Educational Service Dist 189 Evaline School District Everett SD #002 Evergreen SD #114 Evergreen School District Federal Way School District Ferndale School Dist #502 Fife School District Finley School District No 53 Franklin Pierce Freeman School Distric 358 Garfield School District 302 Glenwood School District Goldendale School Dist 404 Grand Coulee Dam School Dist Grandview S D # 200 Granger School District #204 Granite Falls SD #332 Grapeview SD Great Northern SD 312 Green Mountain School District No 103 Griffin School Distict 324 Harrington SD #204 Highland School District Highline S D Hockinson SD #98 Hood Canal Hoquiam SD #28 Inchelium SD #70 Index School District No 063 Issaquah S D # 411 Kahlotus School District 56 Kalama SD 402 Keller S D # 3 Kelso School District Kennewick School District Kent School District Kettle Falls SD No 212 Kiona - Benton City SD #52 Kittitas School Dist Klickitat School District 402 Lacenter SD # 101 Laconner School Dist 311 Lacrosse S D # 126 Lake Chelan School District 129 Lake Stevens School District Lake Washington SD #414 Lakewood School District 306 Lamont SD No 264 Liberty School District 362 Lind School District Longview SD #122 Lopez Island School District Lyle SD #406 Lynden S D # 504 Mabton School District 120 Mansfield SD 207 Manson SD #19 Mary M Knight School Dist 311 Mary Walker SD No 207 Marysville SD McCleary School District #65 Mead School District 354 Medical Lake School District 3 Mercer Island School Dist Meridian SD #505 Methow Valley School District Mill A School District Monroe School District Montesano School Dist #66 Morton S D # 214 Moses Lk S D # 161 Mossyrock School Dist #206 Mount Vernon S D # 320 MT Adams SD #209 MT Baker School District Mukilteo School District 6 Naches Valley SD Napavine SD #14 Nasele-Grays River S D #155 Nespelem School Dist 14 Newport School District Nine Mile Falls SD Nooksack Valley SD 506 North Beach School District 64 North Central Esd North Franklin School District North Kitsap SD # 400 North Mason SD #403 North Thurston SD Northport SD #211 Northshore School District Oak Harbor School Dist Oakesdale School District 324 Oakville School District Ocean Beach School District Ocosta School District 172 Odessa School Dist 105 157 166 Okanogan School Dist 105 Olympia School District Omak SD #19 Onalaska School District Onion Creek SD Orcas Island School District Orchard Prairie SD Orondo School District Oroville School Dist Orting SD #344 Othello School Dist Palisades School District # 102 Palouse School District 301 Pasco SD #1 Pateros SD Paterson School District 50 Pe Ell School District Peninsula SD Pioneer School Dist Pomeroy S D # 110 Port Angeles School Dist Port Townsend School Dist 50 Prescott School District Prosser S D No 116 Public School Employees of WA Pullman School District 267 Puyallup School District Quilcene School District 48 Quillayute Valley SD 402 Quinault SD #097 Quincy School District Rainier School Dist 307 Raymond SD No 116 Reardan Edwall School Dist 9 Renton S D #403 Republic School District 309 Richland School District 400 Ridgefield S D # 122 Ritzville School District Riverside S D #416 Riverview S D #407 Rochester SD Rosalia School District #320 Royal School Dist San Juan Island SD #149 Satsop School District Seattle School District #1 Sedro-Woolley School Dist 101 Selah School District Selkirk School Dist 70 Sequim School District Shaw Island SD Shelton School District Shoreline SD 412 Skamania School Dist 2 Skykomish School District #404 Snohomish School District 201 Snoqualmie Valley School Dist Soap Lake School Dist #156 South Bend School District 118 South Kitsap School District South Whidbey SD 206 Southside School District Spokane School Dist 81 Sprague School District No 8 Stanwood Camano School Dist Stehekin School District N069 Steilacoom Historical Dst #1 Steptoe School District Stevenson-Carson SD # 303 St John School District 322 Sultan School District Summit Valley SD Sumner School District 320 Sunnyside S D 201 Tacoma School Dist Taholah SD No 077 Tahoma School District Tekoa School District #265 Tenino School District 402 Thorp SD #400 Toledo SD #237 Tonasket SD #404 Toppenish SD No 202 Touchet School Dist Toutle Lake School Dist #13 Trout Lake School District Tumwater School District Union Gap School District 2 University Place SD #83 Valley School District #070 Vancouver Education Association Vancouver School Dist Vashon Island S D # 402 Wahkiakum School District 200 Wahluke School District 73 Waitsburg School District Walla Walla SD #140 Wapato School District Warden School Dist No 146 Wash Assoc of School Admins WA Association of School Bus Offic Washington Education Association Washougal School Dist 112 Washtucna SD Waterville SD #209 Wellpinit SD # 49 Wenatchee School Dist 246 West Valley #208 West Valley School District White Pass SD #303 White River S D White Salmon SD 405 Wilbur School District Willapa Valley School Dist 160 Wilson Creek School Dist 167-2 Winlock School Dist Wishkah Valley 117 Wishram School District 94 Woodland SD Wsipc Yakima School District Yelm Community Schools No Zillah School Dist 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1