2018-11-15T18:32:22-06:00 2017-12-31 WITHUMSMITHBROWNPC 4600 EAST WEST HWY 900 BETHESDA MD 208143423 990 2017-01-01 620476257 UNITED STATES LETTER CARRIERS MUTUAL BENEFIT ASSOCIATION % LARRY WINFIELD UNIT 2026384318 100 INDIANA AVENUE NW Suite 510 WASHINGTON DC 200012144 MYRA WARREN DIRECTOR OF LIFE INS 2026384318 2018-11-02 true RICHARD L RUVELSON P00234075 3012726000 209.190.253.84 22006220183195000330 2018-11-15 P CDE1CE6B985DE454D8332C6A12207530D84425F4 26923E6707FB4A42B62755E4784A3B0C6DC5F428 2017 2019-02-21 02:37:17Z MYRA WARREN 100 INDIANA AVE NW STE 510 WASHINGTON DC 20001 50044724 false X WWW.NALC.ORG/DEPART/MBA X 1891 TN THE ASSOCIATION IS A FRATERNAL ORGANIZATION THAT PROVIDES LIFE, ANNUITY, AND DISABILITY INSURANCE FOR ITS MEMBERS. 3 0 24 0 0 0 0 14923497 15241627 9902796 10569215 0 0 24826293 25810842 0 0 21427463 21293950 1940161 1999280 0 0 0 2377750 1897258 25745374 25190488 -919081 620354 243945099 251526203 205281138 210283609 38663961 41242594 X SEE SCHEDULE O false false PROVIDED LIFE, ANNUITY, AND DISABILITY INSURANCE PRODUCTS TO MEMBERS OF THE MUTUAL BENEFIT ASSOCIATION AND THEIR DEPENDENTS. false false false false false false false false false true false false false true false 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 true false false true 14583 0 true 24 true false false false false false false X 3 0 true false false false true true true true false false false false true true true true true false false false X LARRY WINFIELD 2026384318 100 INDIANA AVENUE NW SUITE 510 WASHINGTON DC 20001 X LAWRENCE D BROWN JR CHAIRMAN/TRUSTEE 1.0 39.0 X X 0 37386 0 MICHAEL GILL TRUSTEE 1.0 39.0 X 0 39457 0 RANDALL L KELLER TRUSTEE 1.0 39.0 X 0 41806 0 FREDRIC V ROLANDO PRESIDENT - NALC 1.0 39.0 X 0 220890 2600 MYRA WARREN DIRECTOR OF LIFE INSURANCE 40.0 0.0 X 187075 0 0 DANIEL GORELIK SENIOR STAFF 40.0 0.0 X 108230 0 18030 295305 339539 20630 2 false true false REGIONS MORGAN KEEGAN PO BOX 12385 BIRMINGHAM AL 35202 INVESTMENT MGT FEES 281545 MOSAIC 4801 VIEWPOINT PLACE CHEVERLY MD 20781 DEVELOPMENT COSTS 213502 GRIFFITH BALLARD CO 100 FIRST AVENEU NE STE 117 CEDAR RAPIDS IA 52401 ACTUARIAL SERVICES 202524 BASS BERRY SIMS 150 THIRD AVENUE SOUTH STE 2800 NASHVILLE TN 37201 LEGAL SERVICES 126032 4 0 PREMIUMS 524298 13089323 13089323 SUPPLEMENTARY CONTRACTS 524298 1871404 1871404 INTEREST INCOME ON POLICY LOANS 900099 280900 280900 15241627 9491496 9491496 0 0 0 0 0 25311601 24233882 1077719 1077719 1077719 0 0 0 0 0 0 0 0 0 0 25810842 15241627 10569215 0 0 0 21293950 224531 0 1169134 271955 225702 107958 0 133393 70000 0 0 211719 233885 0 670252 0 0 293993 0 0 0 0 0 98666 30046 BANK SERVICE CHARGES 72857 SUNDRY EXPENSES 46816 TAXES, LICENSES, FEES 24914 EXPENSE ALLOWANCES - BRANCH 10717 25190488 213579 155589 815097 1465786 0 0 0 0 0 0 0 0 3701273 3230145 0 0 0 0 449535 366327 58083 83208 236678723 244012668 0 0 0 0 0 0 2478344 2578807 243945099 251526203 400400 195874 0 0 189977 187354 0 0 0 0 0 0 0 0 0 0 204690761 209900381 205281138 210283609 X 38663961 41242594 0 0 0 0 38663961 41242594 243945099 251526203 X 620354 1958279 X false true X true false 449535 366327 83208 83208 0 PRESENT VALUE FUTURE BENEFITS 200248722 DIVIDENDS ON DEPOSIT 3374187 ACCUMULATED POST-RETIREMENT 4193681 UNPAID BENEFITS 748545 DIVIDENDS PAYABLE 684721 PROVISION FOR GROUP EXPERIENCE 441661 COMPENSATED ABSENCES 208864 209900381 25579026 52760 52760 25526266 211719 72857 284576 25810842 24905912 24905912 211719 72857 284576 25190488 PART XI, LINE 2D - REVENUE INCLUDED ON FINANCIALS, BUT NOT ON FORM 990: $52,760 CHANGE TO THE INTEREST MAINTENANCE RESERVE PART XI, LINE 4B - REVENUES INCLUDED ON FORM 990, BUT NOT FINANCIALS: $72,857 BANK CHARGES NETTED AGAINST INVESTMENT INCOME ON F/S PART XII, LINE 4B - EXPENSES INCLUDED ON FORM 990, BUT NOT FINANCIALS: $72,857 BANK CHARGES NETTED AGAINST INVESTMENT INCOME ON F/S X true true false false false FREDRIC V ROLANDO PRESIDENT - NALC 0 199724 21166 0 0 0 2600 0 223490 0 0 MYRA WARREN DIRECTOR OF LIFE INSURANCE 164071 0 23004 0 0 0 0 187075 0 0 0 PART I, LINE 1A - TAX GROSS UP PAYMENT: THE TAX GROSS UP PAYMENT CONSISTS OF PAYROLL TAXES ON TAXABLE BENEFITS INCLUDED IN MYRA WARREN'S COMPENSATION. PART II, COLUMN C - DEFERRED COMPENSATION: REPRESENTS THE ANNUAL INCREASE IN ACTUARIAL VALUE OF A QUALIFIED DEFINED BENEFIT PLAN, AS CALCULATED BY THE PLAN ACTUARY. PART III, LINE 1 - ORGANIZATION'S MISSION: THE UNITED STATES LETTER CARRIERS MUTUAL BENEFIT ASSOCIATION IS THE LIFE INSURANCE DEPARTMENT OF THE NATIONAL ASSOCIATION OF LETTER CARRIERS, AN I.R.C. SEC. 501(C)(5) LABOR ORGANIZATION. THE MUTUAL BENEFIT ASSOCIATION IS A FRATERNAL ORGANIZATION THAT PROVIDES LIFE, ANNUITY, AND DISABILITY INSURANCE FOR ITS MEMBERS. PART VI, SECTION A, LINE 2 - BUSINESS RELATIONSHIP: BOARD MEMBERS LAWRENCE BROWN, JR., MICHAEL GILL & RANDALL KELLER AND OFFICERS FREDERIC ROLANDO & MYRA WARREN SERVE AS CHAIRMAN, TRUSTEE, TRUSTEE, PRESIDENT AND DIRECTOR OF LIFE INSURANCE FOR NATIONAL ASSOCIATION OF LETTER CARRIERS. PART VI, SECTION A, LINE 6 - MEMBERS OF ORGANIZATION: An applicant for admission to membership in the MBA must be a letter carrier or other nonsupervisory employee of the Postal Career Service who is a member in good standing of the NALC, or the spouse, child, grandchild, or great grandchild of a member of the NALC. Employees of the NALC and its subsidiaries, their spouse and children are also eligible applicants for membership in the MBA. PART VI, SECTION A, LINES 7A/7B-ELECTION & DECISION APPROVAL OF TRUSTEES: The Trustees and the Director of Life Insurance, who must be members of the NALC to hold these offices, are elected at the time and in the manner prescribed for the election of officers of the NALC under the organization's Constitution. The Constitution and General Laws of the U.S. Letter Carriers MBA may be amended by a vote of the delegates at a national convention of the NALC in accordance with procedures set forth in the General Laws of the MBA. PART VI, SECTION B, LINE 11B - REVIEW OF FORM 990: THE FORM 990 IS PREPARED BY AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTING FIRM ("CPA FIRM"), ENGAGED BY THE BOARD OF TRUSTEES, THAT FORWARDS A DRAFT COPY OF THE FORM 990 FOR REVIEW BY THE DIRECTOR OF LIFE INSURANCE AND THE ASSISTANT TO THE DIRECTOR. UPON APPROVAL OF THE FORM 990, THE FORM 990 IS SUBMITTED BY THE CPA FIRM FOR FILING WITH THE INTERNAL REVENUE SERVICE. PART VI, SECTION B, LINE 12C - CONFLICT OF INTEREST POLICY: THE ASSOCIATION REQUIRES ITS OFFICERS AND KEY EMPLOYEES TO AFFIRM IN WRITING TO THE BOARD THAT HE/SHE HAS RECEIVED, READ AND UNDERSTANDS THE POLICY. ADDITIONALLY, ITS OFFICERS AND KEY EMPLOYEES REPORT AT LEAST ANNUALLY ANY CHANGE IN AFFILIATIONS FROM THE PRIOR YEAR. PART VI, SECTION C, LINE 19 - GOVERNING DOCUMENTS, POLICIES & FINANCIALS: THE ORGANIZATION DOES NOT GENERALLY MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, RECORD RETENTION POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC; EXCEPT AS MAY BE REQUIRED UNDER APPLICABLE STATE LAW. PART VII, SECTION A, COLUMN F - DEFERRED COMPENSATION: $XXX,XXX REPRESENTS THE AMOUNTS CALCULATED BY THE PLAN ACTUARY AS TO THE INCREASE IN ACTUARIAL VALUE IN DEFINED BENEFITS. THESE AMOUNTS REPORTED ARE NOT ACTUAL OUTLAYS OF COMPENSATION TO THE ADMINISTRATOR, TRUSTEES AND DIRECTOR. PART XI, LINE 9 - OTHER CHANGES IN NET ASSETS: $ 3,156,437 UNREALIZED GAIN ON EXCHANGE TRADED FUNDS $ 18,187 UNREALIZED GAIN ON SECURITIES LENDING $(1,298,105) CHANGE IN ACCUMULATED POSTRETIREMENT BENEFIT OBLIG. $ 81,760 NON-ADMITTED AND RELATED ITEMS ------------ $ 1,958,279 NET CHANGES IN NET ASSETS ============ PART XII, LINE 1 - METHOD OF ACCOUNTING: The financial statements are presented on the basis of accounting practices prescribed or permitted by the Tennessee Department of Commerce and Insurance. The Tennessee Department of Commerce and Insurance recognizes only statutory accounting practices prescribed or permitted by the State of Tennessee for determining and reporting the financial condition and results of operations of an insurance company and for determining its solvency under the Tennessee Insurance Law. The National Association of Insurance Commissioners (NAIC) Accounting and Practices and Procedures Manual (NAIC SAP), has been adopted as a component of prescribed or permitted practices by the State of Tennessee. These principles vary in certain respects from accounting principles generally accepted in the United States of America with regard to the treatment of certain furniture and equipment, premium receivables, investments, reserves, and dividends to policyholders. NALC ANNUITY TRUST FUND 20547 WAVERLY COURT ASHBURN VA 20149 526038252 pension fund DC 401(a) NALC false NALC HEALTH BENEFIT PLAN FOR EMPLOYEES 20547 WAVERLY COURT ASHBURN VA 20149 541875242 HEALTH BENEF VA 501(c)(9) NALC false NATIONAL ASSOCIATION OF LETTER CARRIERS 100 INDIANA AVE NW WASHINGTON DC 20001 530114650 LABOR ORG DC 501(c)(5) N/A false NALC COMM ON LETTER CARRIERS POLITICAL 100 INDIANA AVE NW WASHINGTON DC 20001 POLITICAL ORG DC 527 NALC false false false false false false false false false false false true false false true false true true false false