2019-05-14T09:00:17-05:00 2018-06-30 990 2017-07-01 043177556 Massachusetts Institute of Technology Welfare Benefit Plans Trust MASS 6172534835 77 Massachusetts Avenue NE49-3142 Cambridge MA 02139 GLEN SHOR VICE PRESIDENT FOR FINANCE 2019-05-14 2017 2019-02-21 02:37:17Z Glen Shor 77 Massachusetts Avenue Cambridge MA 02139 141136000 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 0 133241 65839 0 28992000 19493000 33823000 19092000 0 62815000 38585000 0 29470000 28952000 0 0 0 2239000 2270000 31709000 31222000 31106000 7363000 629908000 695458000 6410000 4131000 623498000 691327000 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 30762000 19493000 HEALTH INSURANCE, LIFE INSURANCE AND LONG TERM DISABILITY BENEFITS WERE PROVIDED TO APPROXIMATELY 6702 INDIVIDUALS COVERED UNDER THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT) WELFARE BENEFIT PLANS TRUST. 30762000 true false false false false false false false false false true false false false 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 X 2 0 true false false false false false false true false false false false false false false false false true true X Danielle Khoury 6172534835 77 Massachusetts Avenue NE49-3142 Cambridge MA 02139 Seth Alexander Director 1.0 60.0 X 0 1873205 312451 Israel Ruiz Director 1.0 60.0 X 0 744243 55668 0 2617448 368119 0 false true false WELLINGTON TRUST COMPANY 280 Congress Street Boston MA 02210 INVESTMENT MANAGEMENT 154276 STATE STREET BANK ONE LINCOLN STREET BOSTON MA 02111 INVESTMENT MANAGEMENT 119090 PRICEWATERHOUSE COOPERS LLP 101 SEAPORT BLVD SUITE 500 BOSTON MA 02210 AUDITORS 114716 3 0 Employer's Contributions 6542000 6542000 Retiree Contributions 6857000 6857000 Employer Group Waiver Plan 6094000 6094000 0 0 0 0 19493000 2139000 133241 2005759 0 0 119504000 102551000 16953000 0 16953000 16953000 0 0 0 0 0 38585000 19493000 133241 18958759 28952000 28952000 0 0 0 0 Claims Processing 1810000 1810000 Administrative Expenses 460000 460000 0 0 0 0 31222000 30762000 460000 0 73939000 47232000 0 0 0 0 0 0 0 0 0 11868000 4774000 536831000 635391000 0 7270000 8061000 629908000 695458000 6410000 4131000 0 0 0 6410000 4131000 X 623498000 691327000 623498000 691327000 629908000 695458000 7363000 60466000 0 X false true X true 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 206000 F Partnership Investments 558570000 F Common Collective Trusts 76615000 F 635391000 0 X 99051000 60466000 0 60466000 38585000 0 0 38585000 31222000 0 0 31222000 0 0 31222000 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote On December 22, 2017, the Tax Cuts and Jobs Act (the "Act") was enacted. The Act impacts the Institute in several ways, including the addition of excise taxes on executive compensation and net investment income, as well as new rules for calculating unrelated business taxable income. The overall impact of the Act remains uncertain until further regulatory guidance is issued to assist in calculating tax liabilities. US 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 IRS. The MIT Welfare Benefit Plans Trust has analyzed the tax positions taken and has concluded that as of June 30, 2018, there are no significant uncertain positions taken or expected to be taken, apart from those impacted by the Act. The MIT Welfare Benefit Plans Trust continues to evaluate the impact of the Act on current and future tax positions. false false false false false false false false false Seth Alexander Director 0 708930 0 1124775 0 39500 0 284175 0 28276 0 2185656 0 267356 Israel Ruiz Director 0 702801 0 0 0 41442 0 29700 0 25968 0 799911 0 0 Form 990, Part VI, Line 2 Business Relationship The following current officer/director of the MIT Welfare Benefit Plans Trust is employed by MIT, of which Israel Ruiz is 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 FOR POLICIES PERTAINING TO CONFLICT OF INTEREST, WHISTLEBLOWER AND DOCUMENT RETENTION, THE MIT WELFARE BENEFIT PLANS TRUST ADHERES TO THE WRITTEN POLICIES AND PROCEDURES OF THE 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 true