2025-11-04T11:30:47-06:00 2024-12-31 390859910 BAKER TILLY ADVISORY GROUP LP 101 SECOND STREET SUITE 900 SAN FRANCISCO CA 94105 990 2024-01-01 116607172 SCPMG VEBA TRUST FOR COLLECTIVELY BARGAINED RETIREES SCPM 6264053288 393 EAST WALNUT STREET - 6TH FLOOR PASADENA CA 91188 NOLAN CHANG MED DIR, BUS MGMT 6264053288 2025-11-03 1 1 PAMELA ALEXANDERSON P01218925 4159561500 2025-10-30 2024 2025-03-06 01:10:19Z STATE STREET CORPORATION ONE LINCOLN STREET BOSTON MA 02111 1817428 0 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 248669 531780 0 0 248669 531780 0 0 0 0 27418 14548 0 0 0 965863 1192588 993281 1207136 -744612 -675356 357188396 374533023 0 0 357188396 374533023 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. 0 0 THE PLAN PROVIDES POST RETIREMENT BENEFITS TO EMPLOYEES OF THE SOUTHERN CALIFORNIA PERMANENTE MEDICAL GROUP PURSUANT TO COLLECTIVE BARGAINING AGREEMENTS. 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 X 1 0 1 0 0 0 0 0 0 0 0 0 X 1 1 0 0 0 0 0 0 1 0 0 0 0 0 1 1 1 1 1 0 0 0 CA X SCPMG ACCOUNTING TAX DEPT 6264053288 393 EAST WALNUT STREET PASADENA CA 91188 STATE STREET CORPORATION TRUSTEE 1.00 X 14548 0 0 14548 0 0 0 0 0 0 INVESCO LTD 1555 PEACHTREE STREET NE SUITE 1 ATLANTA GA 30309 INVESTMENT MANAGEMENT 1121488 1 475828 475828 1341600 1285648 55952 55952 55952 531780 0 0 531780 14548 62600 1121488 6791 1709 1207136 7400313 7809862 349788083 366723161 357188396 374533023 0 0 X 333312557 357188396 0 0 23875839 17344627 357188396 374533023 357188396 374533023 -675356 18019983 0 X X 0 1 X 1 0 0 INVESCO INST. TRST BALANCED FND 366713462 F VEBA BLACKROCK TRAN AC 9699 F 366723161 X 65651531 18019983 47099768 65119751 531780 0 531780 48371545 48285897 48285897 85648 1121488 1121488 1207136 PART X, LINE 2: ON APRIL 26, 2007, THE SCPMG VEBA TRUST OBTAINED AN EXEMPTION LETTER UNDER SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE (IRC) IN WHICH THE INTERNAL REVENUE SERVICE (IRS) STATED THAT THE TRUST, AS THEN DESIGNED, WAS IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC. THE TRUST HAS BEEN AMENDED SINCE RECEIVING THE LETTER. ON SEPTEMBER 19, 2007, THE SCPMG VEBA TRUST OBTAINED AN EXEMPTION LETTER UNDER SECTION 23701(I) OF THE CALIFORNIA REVENUE AND TAXATION CODE (THE CODE) IN WHICH THE FRANCHISE TAX BOARD STATED THAT THE TRUST, AS THEN DESIGNED, WAS IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE CODE. THE PLAN ADMINISTRATOR BELIEVES THAT THE TRUST IS CURRENTLY DESIGNED AND BEING OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC AND THE CODE. THEREFORE, THE PLAN ADMINISTRATOR BELIEVES THAT THE TRUST WAS QUALIFIED AND TAX EXEMPT AS OF THE FINANCIAL STATEMENT DATE. GAAP REQUIRES PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF IT HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. PLAN MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN, AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2024 AND 2023, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. PART XI, LINE 2D - OTHER ADJUSTMENTS: EMPLOYER CONTRIBUTIONS 48,285,897. INVESTMENT MANAGEMENT FEES -1,121,488. ADJUSTMENT FOR RECEIVABLES -64,641. PART XII, LINE 2D - OTHER ADJUSTMENTS: PREMIUMS PAID 48,285,897. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES 1,121,488. FORM 990 PART V, LINE 1A 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, LINE 7B 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 BY 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 NONVOTING)]. FORM 990, PART VI, SECTION A, LINE 8A NOT APPLICABLE FORM 990, PART VI, SECTION A, LINE 8B NOT APPLICABLE FORM 990, PART VI, SECTION B, LINE 11B 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, LINE 12C THE SOUTHERN CALIFORNIA PERMANENTE MEDICAL GROUP HAS WRITTEN POLICIES PERTAINING TO CONFLICT OF INTEREST, WHISTLEBLOWERS, 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, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS FOR THE VEBA TRUST MAY BE RELEASED SUBJECT TO A WRITTEN REQUEST AND UPON APPROVAL OF THE CHIEF FINANCIAL OFFICER. FORM 990, PART XII, LINE 2C: 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. 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