Veba For Retirees Of Kaiser Aluminum

Organization Overview

Veba For Retirees Of Kaiser Aluminum is located in Pittsburgh, PA. The organization was established in 2007. According to its NTEE Classification (Y43) the organization is classified as: Voluntary Employees Beneficiary Associations (Non-Government), under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Veba For Retirees Of Kaiser Aluminum is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.

For the year ending 12/2021, Veba For Retirees Of Kaiser Aluminum generated $51.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $32.2m during the year ending 12/2021. While expenses have increased by 4.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE FUND OPERATES AS A TRUST TO PROVIDE CERTAIN HEALTH BENEFITS TO CURRENT AND FUTURE KAISER RETIREES FOLLOWING EMPLOYMENT IN CERTAIN USW & IAM REPRESENTED BARGAINING UNITS

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDES PRESCRIPTION DRUG BENEFITS TO CERTAIN MEDICARE ELIGIBLE PARTICIPANTS, TO THEIR BENEFICIARIES AND COVERED DEPENDENTS. ELIGIBLE PARTICIPANTS RECEIVE MEDICARE PART B REIMBURSEMENTS BASED ON A SET MONTHLY RATE FROM THE PLAN. ESTABLISHED A HEALTHCARE PREMIUM REIMBURSEMENT PROGRAM THAT PROVIDES REIMBURSEMENT FOR PREMIUMS PAID BY ENROLLED PARTICIPANTS FOR VARIOUS FORMS OF QUALIFIED MEDICAL, PRESCRIPTION, DENTAL, AND VISION BENEFITS.


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Board, Officers & Key Employees

Name (title)Compensation
Thomas F Duzak
Trustee/chairman
$0
Neal West
Trustee
$0
Jayne Sabo
Trustee
$0
James Woodward
Trustee
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Medco Containment Life Insurance Co
Contract Admin
$292,945
State Street Global Advisors
Asset Management
$238,272
Meketa Investment Group Inc
Asset Management
$185,000
Pnc
Custodian Services
$158,348
Cds Administrators Inc
Fund/claims Admin.
$228,969
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$0
Investment income $396,088
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $42,758,632
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $51,525,710

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