2023-05-12T20:40:12+00:00 2022-06-30 990 2021-07-01 043177556 Massachusetts Institute of Technology Welfare Benefit Plans Trust MASS 6172589884 77 Massachusetts Avenue NE49-3142 Cambridge MA 02139 JODI KESSLER DIRECTOR, TAX AND GLOBAL OPERATIONS 6173248969 2023-05-12 JODI KESSLER 999009999 2021 2023-04-26 12:10:37Z GLEN SHOR 77 Massachusetts Avenue Cambridge MA 02139 443530000 false X N/A X 1992 MA TO PROVIDE HEALTH AND LIFE INSURANCE BENEFITS TO COVERED ELIGIBLE RETIREES OF MASSACHUSETTS INSTITUTE OF TECHNOLOGY AND THEIR DEPENDENTS, AS WELL AS INDIVIDUALS RECEIVING LONG-TERM DISABILITY BENEFITS FOR AT LEAST THREE YEARS. 2 0 0 393000 0 0 20506000 20222000 45818000 164460000 0 66324000 184682000 0 36671000 39970000 0 0 0 2336000 2728000 39007000 42698000 27317000 141984000 1112555000 957104000 10226000 4693000 1102329000 952411000 TO PROVIDE HEALTH AND LIFE INSURANCE BENEFITS TO COVERED ELIGIBLE RETIREES OF MASSACHUSETTS INSTITUTE OF TECHNOLOGY AND THEIR DEPENDENTS, AS WELL AS INDIVIDUALS RECEIVING LONG-TERM DISABILITY BENEFITS FOR AT LEAST THREE YEARS. false false 41807000 20222000 MEDICAL AND LIFE INSURANCE BENEFITS FOR ELIGIBLE RETIREES, ALONG WITH MEDICAL BENEFITS FOR THOSE RECEIVING LONG TERM DISABILITY BENEFITS FOR AT LEAST THREE YEARS, WERE PROVIDED TO APPROXIMATELY 7155 INDIVIDUALS COVERED UNDER THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT) WELFARE BENEFIT PLANS TRUST. 41807000 true false false false false false false false false false true false false true true true false false false false false false false false false false false false true false false false false false false false false false false false false false true false false false true 0 0 0 true true false false false false false false false X 2 0 true false false false false false false true false false false false false false false false false true true X JOHN DONNELLY 6172532734 77 Massachusetts Avenue NE49-3142 Cambridge MA 02139 Glen Shor Trustee 1.0 60.0 X 0 690228 65733 Seth Alexander Trustee 1.0 60.0 X 0 2697163 411047 0 3387391 476780 2 false true false STATE STREET BANK ONE LINCOLN STREET BOSTON MA 02210 FINANCIAL CUSTODY SERVICES 579535 1 0 Employer's Contributions 900099 Retiree Contributions 900099 9964000 9964000 Employer Group Waiver Plan 900099 10197000 10197000 Other Income 900099 61000 61000 0 0 0 0 20222000 706000 393000 313000 0 0 422602000 258848000 163754000 0 163754000 163754000 0 0 0 0 0 184682000 20222000 393000 164067000 39970000 39970000 0 0 0 0 Claims Processing 1837000 1837000 Administrative Expenses 891000 891000 0 0 0 0 42698000 41807000 891000 0 44037000 18596000 0 0 0 0 0 0 0 0 200665000 226233000 861829000 704506000 0 6024000 7769000 1112555000 957104000 2297000 1597000 0 0 7929000 3096000 10226000 4693000 X 1102329000 952411000 1102329000 952411000 1112555000 957104000 141984000 -291902000 0 X false true X true X X X 1 MASSACHUSETTS INSTITUTE OF TECHNOLOGY 042103594 2 true 0 0 1 0 0 true false false false false false false false false false false false false false false true false 188000 F 2637000 F Partnership Investments 697729000 F U.S. Government Agency 2893000 F Repo 500000 F Preferred Stock 557000 F Domestic bonds 2000 F 704506000 Investments sold but not yet purchased 3096000 3096000 X -107220000 -291902000 0 -291902000 184682000 0 0 184682000 42698000 0 0 42698000 0 0 42698000 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote U.S. GAAP requires an evaluation of tax positions taken and recognition of a tax liability (or asset) if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. The MIT Welfare Benefit Plan's Trust has analyzed the tax positions taken and has concluded that as of June 30, 2022, there are no significant uncertain positions taken or expected to be taken. false true false false false false false false false Glen Shor Trustee 0 668731 0 0 0 21497 0 34174 0 31559 0 755961 0 0 Seth Alexander Trustee 0 860135 0 1778631 0 58396 0 379757 0 31290 0 3108210 0 321803 Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan An employee of the MIT Investment Management Company is eligible for incentive compensation based on the performance of the Institute's investments. A portion of their incentive compensation is paid in an initial calendar year, and the remainder is deferred to being paid in the subsequent calendar year contingent on continued service to MITIMCo through specified dates. Incentive compensation actually paid in calendar year 2021 is reflected in Column B(ii). This includes incentive compensation from prior calendar years for which payment was deferred, contingent on continued service. That amount is listed in Column F. Calendar year 2021 incentive compensation for which payment has been deferred contingent on continued service is included in Column C. Form 990, Part VI, Line 2 Business Relationship For fiscal year 2022, the following current trustee of the MIT Welfare Benefit Plans Trust was employed by the Massachusetts Institute of Technology, of which Glen Shor was also an officer and director: Seth Alexander. Form 990, Part VI, Line 8b Documentation of meetings held by committees of governing body THERE ARE NO SUCH COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. Form 990, Part VI, Line 11b Review of form 990 by governing body MIT WELFARE BENEFIT PLANS TRUST'S OFFICER RESPONSIBLE FOR TAX MATTERS REVIEWS THE FORM 990 FOR ACCURACY AND COMPLETENESS Form 990, Part VI, Line 19 Required documents available to the public The organization's governing documents and financial statements are available upon request. The Massachusetts Institute of Technology (MIT)'s policies are available on MIT's website. Form 990, Part VI, Lines 12-14 Policies and Procedures BARRING SPECIFIC ACTION TO THE CONTRARY, MIT WELFARE BENEFIT PLANS TRUST FOLLOWS APPLICABLE WRITTEN POLICIES AND PROCEDURES OF MASSACHUSETTS INSTITUTE OF TECHNOLOGY. MASSACHUSETTS INSTITUTE OF TECHNOLOGY 77 MASSACHUSETTS AVENUE CAMBRIDGE MA 02139 042103594 EDUCATION MA 501(c)(3) 2 NA false false false false false false false false false false false false false false false false false false false false