2021-11-15T18:07:12-06:00 2020-12-31 ERNST & YOUNG US LLP 4365 EXECUTIVE DR SUITE 1600 SAN DIEGO CA 92121 990 2020-01-01 116607172 SCPMG VEBA Trust for Collectively Bargained Retirees % ACCOUNTING & TAX DEPT SCPM 6264053288 393 East Walnut Street - 7th Floor Pasadena CA 91188 Nolan Chang Med Dir, Bus Mgmt 6264053288 2021-11-15 true Nolan Chang 999009999 P00634378 8585357360 3 2020 2022-09-23 18:48:47Z STATE STREET CORPORATION ONE LINCOLN STREET BOSTON MA 02111 717545595 false X N/A X 2005 CA The plan provides post retirement benefits to employees of the Southern California Permanente Medical Group pursuant to collective bargaining agreements. 1 1 0 0 0 0 0 0 0 0 7571029 15373015 0 0 7571029 15373015 0 0 0 0 55845 30518 0 0 0 1600179 1406640 1656024 1437158 5915005 13935857 323954249 354772608 0 0 323954249 354772608 The SCPMG VEBA trust for Collectively Bargained Retirees is a Trust solely for the investment of funds to satisfy the SCPMG obligation to provide post retirement benefits to employees of Southern California Permanente Medical Group pursuant to collective bargaining agreements. false false N/A false false false false false false false false false false false true false false false false true true false false false false false false false false false false false false false false false false false false false false false false false false false true false false false true X 1 0 true 0 false false false false false false false false X 1 1 false false false false false false true false false false false false true true true true true false false false CA X ACCOUNTING TAX DEPT 6264053288 393 EAST WALNUT STREET PASADENA CA 91188 STATE STREET CORPORATION TRUSTEE 1.0 0.0 X 30518 0 0 30518 0 0 0 false false false INVESCO LTD 1555 PEACHTREE STREET NE SUITE 1 ATLANTA GA 30309 INVESTMENT MGMT 884875 BRIDGEWATER ASSOCIATES ONE GLENDINNING PLACE WESTPORT CT 06880 INVESTMENT MGMT 352388 MARATHON ASSET MANAGEMENT LLP 5 UPPER ST MARTINS LANE LONDON 0 UK WC2H 9EA INVESTMENT MGMT 143657 3 0 0 2058101 2058101 0 0 0 0 0 715487494 702172580 13314914 13314914 13314914 0 0 0 0 0 0 0 0 0 0 15373015 15373015 0 0 0 0 30518 0 0 0 0 0 0 0 41131 0 0 1303800 0 0 0 0 0 0 0 0 0 0 0 0 0 FOREIGN INCOME TAXES 56610 MISCELLANEOUS EXPENSES 5099 1437158 0 0 3956792 3908495 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 319997457 350864113 0 0 0 0 0 0 323954249 354772608 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 282796815 323954250 0 0 41157434 30818358 323954249 354772608 323954249 354772608 13935857 16882502 X X false true X true false INVESCO INST. TRST BLANCED FND 350383869 F VEBA BLACKROCK TRAN AC -1382200 F MARATHON ASSET MGMT LTD 1862444 F 350864113 72598289 16986688 40238586 57225274 15373015 15373015 41675743 41542385 41542385 133358 1303800 1303800 1437158 Form 990 Part XI 2(d) OTHER: EMPLOYER CONTRIBUTIONS $41,502,802 LESS INVESTMENT MANAGEMENT FEES $1,264,216 = $40,238,586 FORM 990 PART XII 2(D) OTHER: PREMIUMS PAID $41,502,802 PLUS OTHER EXPENSE +$39,583 = $41,542,385 FORM 990 PART XII 4(B) OTHER: INVESTMENT MANAGEMENT FEES = $1,303,800 Form 990 Part I Summary 2019 2020 Net Assets at Beginning of Year 282,796,815 323,954,249 Current Year Revenue Less Expenses 5,915,005 13,935,857 CY Appreciation of Assets 35,242,427 16,882,502 [Unrealized Gain/(Loss)] Net Assets at End of Year 323,954,249 354,772,608 (per books at FMV) Form 990 Part V 1(a) State Street, as the institutional trustee for the VEBA, issues 1099s for fees paid out of the VEBA Trust (the VEBA Trust is a Trust designed solely for the investment of funds to satisfy the obligation to provide post retirement benefits to employees of SCPMG pursuant to collectively bargained agreements). Form 990 Part VI, Section A The daily operational governance has been delegated to a bank Trustee (State Street Bank and Trust Co.). Performance and policy oversight for the Trust is generally managed two Executives of the Southern California Permanente Medical Group (the Medical Director of Business Management and the Chief Financial Officer), however, significant decisions pertaining to the VEBA Trust must be made through a vote by the SCPMG Board of Directors [comprised of 46 Partners (45 voting and 1 non-voting)]. Form 990 Part VI, Section B 11(b) The IRS Form 990 is prepared after an independent audit of the VEBA Trust financial statements is performed. This audited information is used to complete the IRS Form 990. Once completed, an independent tax review is performed by the external tax accountants for the Southern California Permanente Medical Group. A review of the completed IRS Form 990 is the responsibility of the Chief Financial Officer, and then final review and sign off is performed by the Partnership Representative of the Southern California Permanente Medical Group on behalf of the SCPMG Board of Directors. The partnership Representative will report any tax reporting concerns to the Board of Directors, if applicable. The IRS Form 990 is available to Board members upon request. Form 990 Part VI, Section B (Policy Compliance) The Southern California Permanente Medical Group has written policies pertaining to conflict of interest, whistle-blowers, and document retention and destruction. SCPMG staff follow existing policies related to all work performed on behalf of SCPMG and its related organizations, including the VEBA Trust. Staff and Managers of SCPMG participate in mandatory annual compliance training and provide an attestation that they will comply with the organizational policies and procedures to report any conflicts of interest, etc. that come to their attention. Separate annual audits are performed by external auditors for SCPMG and the VEBA Trust in accordance with U.S. generally accepted auditing standards and include independent reviews of financial statements. Form 990 Part VI, Section C(19) The governing documents, conflict of interest policy, and financial statements for the VEBA Trust maybe released subject to a written request and upon approval of the Chief Financial Officer. Form 990 Part XII The Southern California Permanente Medical Group is a related organization to the VEBA Trust (the VEBA Trust is designed solely for the investment of funds to satisfy the obligation to provide post retirement benefits to employees of SCPMG pursuant to collective bargaining agreements). SCPMG has an Audit Committee that will address any concern related to the VEBA Trust. The selection of the independent accountant and review of the audited financial statements for the VEBA Trust is delegated to the Partnership Representative and Chief Financial Officer. If any audit issues are not appropriately addressed, the independent accountant will disclose issues directly to the Audit Committee. Southern Calif Permanente Medical Grp 393 East Walnut Street Pasadena CA 91188 951750445 Medical Services CA NONE none 0 0 false false false false false false false false false false false false false false true false false false false