2017-05-12T13:00:48-05:00 2016-06-30 990 2015-07-01 043177556 Massachusetts Institute of Technology Retiree Welfare Benefit Trust MASS 6172532777 77 Massachusetts Avenue NE49-3142 Cambridge MA 02139 ISRAEL RUIZ EXECUTIVE VP AND TREASURER 2017-05-12 2015 2021-01-29 14:40:06Z Israel Ruiz 77 Massachusetts Avenue NE49-3142 Cambridge MA 02139 96761000 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. 12 8 0 0 5181 -31000 0 33532000 24472000 -3019000 -29634000 0 30513000 -5162000 0 28920000 25254000 0 0 0 1587000 3144000 30507000 28398000 6000 -33560000 549612000 549354000 691000 198000 548921000 549156000 TO PROVIDE HEALTH AND LIFE INSURANCE BENEFITS TO COVERED ELIGIBLE RETIREES OF MASSACHUSETTS INSTITUTE OF TECHNOLOGY AND THEIR DEPENDENTS. false false 27968000 0 24472000 HEALTH INSURANCE AND LIFE INSURANCE BENEFITS WERE PROVIDED TO APPROXIMATELY 6055 INDIVIDUALS COVERED UNDER THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT) RETIREE WELFARE BENEFIT PLAN. 27968000 true false 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 false false false false false false X 12 8 true false false false false false false true false false false false false false false false true true X Danielle Khoury 6172534835 77 Massachusetts Avenue NE49-3000 Cambridge MA 02139 L Rafael Reif Director 1.0 60.0 X 0 917855 123162 Denis A Bovin Director 1.0 5.0 X 0 0 0 John A Thain Director 1.0 5.0 X 0 0 0 Robert B Millard Director 1.0 60.0 X 0 315548 29459 Israel Ruiz Director 1.0 60.0 X 0 581064 50191 Seth Alexander Director 1.0 60.0 X 0 1753921 51906 F Helmut Weymar Director 1.0 0 X 0 0 0 Gururaj Deshpande Director 1.0 0 X 0 0 0 Armen Avanessians Director 1.0 0 X 0 0 0 Cheng Chih Sung Director 1.0 0 X 0 0 0 Jeffrey Halis Director 1.0 0 X 0 0 0 Mark Gorenberg Director 1.0 0 X 0 0 0 0 3568388 254718 0 false true false STATE STREET BANK ONE LINCOLN STREET BOSTON MA 02111 INVESTMENT MANAGEMENT 455156 PRICEWATERHOUSE COOPERS LLP 101 SEAPORT BLVD SUITE 500 BOSTON MA 02210 AUDITORS 106204 2 0 Employer's Contributions 13876000 13876000 Retiree Contributions 5543000 5543000 Employer Group Waiver Plan 5053000 5053000 0 0 0 0 24472000 2154000 5181 2148819 0 0 70135000 101923000 -31788000 0 -31788000 -31788000 0 0 0 0 0 -5162000 24472000 5181 -29639181 25254000 25254000 0 0 0 0 Claims Processing 2714000 2714000 Administrative Expenses 430000 430000 0 0 0 0 28398000 27968000 430000 0 14470000 28749000 4571000 1125000 0 0 0 0 0 0 0 0 0 42877000 30846000 487694000 487302000 0 0 1332000 549612000 549354000 691000 198000 0 0 691000 198000 X 548921000 549156000 548921000 549156000 549612000 549354000 -33560000 33795000 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 Partnership Investments 411285000 F Common Collective Trusts 76017000 F Registered Investment Company 487302000 0 X -5162000 33795000 0 33795000 -38957000 0 0 -38957000 28398000 0 0 28398000 0 0 28398000 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote Accounting principles generally accepted in the United States of America require plan management to evaluate tax positions taken by the plan and recognize 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 Plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of June 30, 2016, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure to the financial statements. false false false false false false false false false L Rafael Reif Director 0 858694 0 0 0 59161 0 13250 0 109912 0 1041017 0 0 Robert B Millard Director 0 315548 0 0 0 0 0 2747 0 26712 0 345007 0 0 Israel Ruiz Director 0 553032 0 0 0 28032 0 23850 0 26341 0 631255 0 0 Seth Alexander Director 0 619417 0 1100504 0 34000 0 23850 0 28056 0 1805827 0 0 Schedule J, Part II, Column (D) RESIDENCE FOR PERSONAL USE The MIT President is required to live in an MIT owned campus residence as a condition of employment and as a convenience to MIT. IRS rules require MIT to estimate a value for such use and to include the value in the President's taxable compensation as a "nontaxable benefit" (Schedule J, Part II, Column (d)). As calculated pursuant to IRS rules, the estimated value is $88,800 for President Reif in Calendar Year 2015. Form 990, Part VI, Line 12a POLICIES FOR POLICIES PERTAINING TO CONFLICT OF INTEREST, WHISTLEBLOWER AND DOCUMENT RETENTION, THE MIT RETIREE WELFARE BENEFIT TRUST ADHERES TO THE WRITTEN POLICIES AND PROCEDURES OF THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY. Form 990, Part VI, Line 2 Business Relationships The following current officers/directors of the MIT Retiree Welfare Benefit Trust are employed by MIT: Seth Alexander, L. Rafael Reif, Israel Ruiz, Robert Millard, Denis Bovin, and John Thain L. Rafael Reif, Israel Ruiz, Robert Millard, Denis Bovin, and John Thain are also officers and/or directors of MIT. Form 990, Part VI, Line 11b Review of form 990 by governing body The Form 990 is prepared by tax and global operations in collaboration with the benefits accounting group within MIT's office of the Vice President for Finance. The 990 is then reviewed by counsel, benefits accounting, and other management within the office of the Vice President for Finance. 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. 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