Overview
What is New York Life Insurance Company Employees' Health And Life Benefit Trust?
New York Life Insurance Company Employees' Health and Life Benefit Trust is a VEBAs (Voluntary Employees' Beneficiary Associations) trust, situated in Jersey City, New Jersey. The organization receives contributions from New York Life Insurance Company to prefund life and health benefits for its retired employees. This trust serves as a strategic financial resource, ensuring the continuity of valuable benefits for the company's retired workforce. The trust does not engage in any public activities or outreach programs, but its primary function is to provide financial security and peace of mind for the retired employees of New York Life Insurance Company.
Is New York Life Insurance Company Employees' Health And Life Benefit Trust legitimate?
New York Life Insurance Company Employees' Health And Life Benefit Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. New York Life Insurance Company Employees' Health And Life Benefit 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 New York Life Insurance Company Employees' Health And Life Benefit Trust?
The New York Life Insurance Company Employees' Health and Life Benefit Trust is a VEBA trust that receives contributions from New York Life Insurance Company to prefund life and health benefits for retired employees of New York Life Insurance Company. Its primary mission is to ensure the financial well-being of these retired employees by providing them with prefunded benefits. The trust serves as a safety net, ensuring that retired employees have access to necessary health and life benefits, secured by the contributions made by New York Life Insurance Company. The trust's role is essential in maintaining the financial stability and security of the retired employees, providing them with peace of mind during their post-employment years.
What is the revenue of New York Life Insurance Company Employees' Health And Life Benefit Trust?
New York Life Insurance Company Employees' Health And Life Benefit Trust's revenue in 2023 was $60,419,112.
Who are the executives of New York Life Insurance Company Employees' Health And Life Benefit Trust and what are their salaries?
There 6 volunteers at New York Life Insurance Company Employees' Health And Life Benefit Trust.
Here are 6 key members and their salaries:
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Where can I find the form 990 for New York Life Insurance Company Employees' Health And Life Benefit Trust?
New York Life Insurance Company Employees' Health And Life Benefit Trust's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of New York Life Insurance Company Employees' Health And Life Benefit Trust
The New York Life Insurance Company Employees' Health and Life Benefit Trust is an organization with a unique mission. Funded through contributions from New York Life Insurance Company, this trust is dedicated to prefunding life and health benefits for retired employees of the insurance company. Its primary objective is to ensure that these retired employees continue to receive essential health and life benefits, securing their well-being post-employment. The trust serves as a safety net, providing financial stability and peace of mind for the retired employees of New York Life Insurance Company.
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Impact
October, 2024
New York Life Insurance Company Employees' Health And Life Benefit Trust significantly impacts retired employees by providing essential life and health benefits. This organization operates as a Voluntary Employees' Beneficiary Association (VEBA) trust, which allows for contributions from New York Life Insurance Company to be prefunded for the future needs of its retired workforce. By ensuring that these benefits are in place, the trust helps to promote financial security and peace of mind for retirees, enabling them to access necessary health care and support in their retirement years. The trust's focus on mutual benefit underscores its commitment to the well-being of retired employees, fostering a sense of community and support among those who have dedicated their careers to the company. Located in Jersey City, NJ, it plays a vital role in the overall benefits structure within New York Life, enhancing the quality of life for its retirees.
This information is meant to be a general summary of New York Life Insurance Company Employees' Health And Life Benefit 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 2023.
- Investment Income: $6,839,398
- Program Service Revenue: $46,959,802
- Gross Receipts: $101,756,498
Assets and Liabilities:
- Total Assets: $438,308,471
- Total Liabilities: $0
- Net Assets: $438,308,471
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYER VEBA CONTRIBUTION
Revenue
$46,959,802
Organization Details
Founding Year
1993
Principal Officer
Karen Bain
NTEE Category
Code: Y40 - Mutual benefit
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