Overview
What is E-Systems Inc Retiree Medical Benefits Trust?
E-Systems Inc Retiree Medical Benefits Trust is a welfare benefit plan established for the exclusive benefit of eligible employees, their dependents, and designated beneficiaries of the employer. Based in Farmington, Connecticut, the trust's primary purpose is to collect employee contributions and disburse benefits, such as medical coverage, in accordance with the trust agreement. The trust aims to fulfill the requirements of the Internal Revenue Code regarding Voluntary Employees' Beneficiary Association (VEBA) plans, ensuring the well-being and healthcare support for the designated individuals.
Is E-Systems Inc Retiree Medical Benefits Trust legitimate?
E-Systems Inc Retiree Medical Benefits Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. E-Systems Inc Retiree Medical 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: $3,532
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of E-Systems Inc Retiree Medical Benefits Trust?
The E-Systems Inc Retiree Medical Benefits Trust is established with the mission to offer exclusive benefits to eligible employees of the employer, their dependent individuals, and designated beneficiaries. The trust's primary purpose is to collect employee contributions and administer employee benefit claims, adhering to the trust agreements' intent, which aligns with the provisions of the Internal Revenue Code relating to VEBAs (Voluntary Employer-sponsored Benefit Arrangements).
Who is the CEO of E-Systems Inc Retiree Medical Benefits Trust?
Bny Mellon is the Principal Officer of E-Systems Inc Retiree Medical Benefits Trust.
What is the revenue of E-Systems Inc Retiree Medical Benefits Trust?
E-Systems Inc Retiree Medical Benefits Trust's revenue in 2022 was $4,585,105.
Who are the executives of E-Systems Inc Retiree Medical Benefits Trust and what are their salaries?
There is 1 key member and their salary:
- Compensation: $3,532
- Related: $0
- Other: $0
Where can I find the form 990 for E-Systems Inc Retiree Medical Benefits Trust?
E-Systems Inc Retiree Medical Benefits Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of E-Systems Inc Retiree Medical Benefits Trust
E-Systems Inc Retiree Medical Benefits Trust, in its mission, is dedicated to providing exclusive benefits to eligible employees, their dependent family members, and designated beneficiaries. The trust serves as a platform to collect employee contributions and pay out employee benefits, known as claims, adhering to the intent of the employer, Raytheon. The trust agreements are interpreted in a manner that aligns with the provisions of the Internal Revenue Code relating to Voluntary Employee Beneficiary Associations (VEBAs).
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Impact
October, 2024
E-Systems Inc Retiree Medical Benefits Trust plays a crucial role in supporting the health and well-being of eligible employees and their families. By providing exclusive medical benefits, the trust ensures that retirees and their dependents have access to necessary healthcare services, which can significantly enhance their quality of life.
The trust collects employee contributions and uses these funds to cover medical claims, creating a safety net for retirees as they navigate health-related expenses post-employment. This arrangement not only fosters a sense of security among retirees but also reinforces the commitment of the employer to support their workforce throughout and beyond their careers.
Additionally, by adhering to the provisions of the Internal Revenue Code related to Voluntary Employee Benefit Associations (VEBAs), the trust operates under a framework that promotes transparency and accountability, ensuring that the benefits provided align with the intended welfare of the eligible employees, their dependents, and designated beneficiaries. Overall, the E-Systems Inc Retiree Medical Benefits Trust serves as a vital resource in maintaining the financial health of retirees, while also contributing to the broader mission of mutual benefit and support within the workforce.
This information is meant to be a general summary of E-Systems Inc Retiree Medical 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: $4,508,886
- Program Service Revenue: $76,219
- Gross Receipts: $4,585,105
Assets and Liabilities:
- Total Assets: $93,406,589
- Total Liabilities: $0
- Net Assets: $93,406,589
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EMPLOYEE CONTRIBUTION
Revenue
$76,219
Organization Details
Founding Year
1997
Phone
(781) 790-6895Principal Officer
Bny Mellon
Main Address
4 FARM SPRINGS RD, FARMINGTON, CT, 06032
NTEE Category
Code: Y40 - Mutual benefit
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