Overview
What is Pseg Health Benefits Trust?
Pseg Health Benefits Trust is a nonprofit organization situated in Newark, New Jersey, with an address at 80 Park Plaza T-10. Their primary purpose is to provide health and welfare benefits to eligible employees. To accomplish this mission, they operate as a vehicle through which the company contributes funds to a Voluntary Employees' Beneficiary Association (VEBA) Trust. These funds are utilized for the payment of certain death benefits or retiree health benefits. In the event a retiree passes away before exhausting their account, the remaining balance is paid or accessible to their beneficiaries.
Is Pseg Health Benefits Trust legitimate?
Pseg Health Benefits Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Pseg Health Benefits Trust submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Pseg Health Benefits Trust?
The Pseg Health Benefits Trust serves as a means for the company to contribute funds to a VEBA Trust. These funds are utilized for the payment of certain death benefits or retiree health benefits. In the event that a retiree passes away before exhausting their account, the remaining balance can be passed on to their beneficiaries. The primary activity of this trust is the provision of health and welfare benefits to eligible employees.
Who is the CEO of Pseg Health Benefits Trust?
Hand Benefit And Trust Co is the Principal Officer of Pseg Health Benefits Trust.
What is the revenue of Pseg Health Benefits Trust?
Pseg Health Benefits Trust's revenue in 2022 was $1,016,158.
Who are the executives of Pseg Health Benefits Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Pseg Health Benefits Trust?
Pseg Health Benefits Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Pseg Health Benefits Trust
PSEG Health Benefits Trust is established with the mission to serve as a medium through which the company can contribute funds to a VEBa Trust. This trust is utilized for the payment of certain death benefits or for the provision of certain retiree health benefits. In the event that a retiree passes away before exhausting their account, the remaining balance can be distributed among their beneficiaries. In essence, the primary purpose of PSEG Health Benefits Trust is to provide health and welfare benefits to eligible employees, ensuring their well-being and offering financial support in times of need.
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Impact
October, 2024
PSEG Health Benefits Trust significantly impacts eligible employees by providing essential health and welfare benefits through a structured vehicle for funds contributed to the VEBA Trust. This initiative ensures that employees have access to vital resources for health care and related expenses.
In addition to health benefits, the Trust addresses the financial security of retirees by offering death benefits and facilitating health benefits for those who have retired. If retirees pass away before fully utilizing their account, the remaining balance can be directly passed on to their beneficiaries, ensuring a continued support mechanism for families.
Operating out of Newark, NJ, PSEG Health Benefits Trust plays a crucial role in enhancing the well-being and financial stability of employees and their families, reinforcing a commitment to mutual benefit within the community.
This information is meant to be a general summary of Pseg Health Benefits Trust. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $96,860
- Program Service Revenue: $919,298
- Gross Receipts: $1,016,158
Assets and Liabilities:
- Total Assets: $6,527,117
- Total Liabilities: $0
- Net Assets: $6,527,117
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER CONTRIBUTIONS
Revenue
$919,298
Organization Details
Founding Year
1993
Phone
(412) 236-7175Principal Officer
Hand Benefit And Trust Co
Main Address
80 PARK PLAZA T-10, NEWARK, NJ, 07101
NTEE Category
Code: Y44 - Mutual benefit
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