Subject: Appointment of Trustee for Everett School Employee Benefit Trust
Access: Public
Type: Action
That the board of directors approve the appointment of Kelly Shepherd, Principal of Sequoia High School, as trustee for the Everett School Employee Benefit Trust.
Situation On May 15, 2013, Dr. David Jones, Cedar Wood Elementary Principal, submitted his resignation as a trustee effective June 30, 2013. Dr. Jones was appointed to the Benefit Trust on March 24, 2009 and has served in Trust leadership roles during his time on the Trust. The district is required per the Trust agreement with the Everett Education Association to have three district Trustees. Molly Ringo and Mike Gunn currently serve as the two other district trustees.
Background The Everett School Employee Benefit Trust (”Trust”) was formed on July 1, 1985, by the Everett School District (“District”) and the Everett Education Association (“Association”), and was later approved by the Internal Revenue Service as a tax-exempt trust (a voluntary employees beneficiary association “VEBA”) in May 1988 to provide for the payment of certain health, accident, disability, death and other benefits as described in Section 501(c)(9) of the Internal Revenue Code (“Code”). The District, the Association, pursuant to terms in collective bargaining agreements, and District employees make contributions to the Trust, and the Trust either pays benefits directly out of its assets, such as medical, or purchases insurance to provide insured benefits to District employees. The Trust provides benefits for all District employees.
Since its inception, the Trust has been governed by a board of six trustees; three representatives from the Association and three from the District; all of whom serve in a voluntary capacity. The Trust and the six trustees are governed by a trust agreement, the Code, Washington law and a set of policies adopted by the trustees. The Trust is annually audited by a certified public accountant and bi-annually audited by the Washington State Office of Financial Management and complies with the requirements of the Open Public Meetings Act.
Prior Action Dr. Jones was appointed to the Trust on March 24, 2009.
Presenter Dr. Gary Cohn
Estimated Time 5 minutes
References Everett School Employee Benefit Trust Agreement
Everett School Employee Benefit Trust Procedure 110.1P, Membership
Dr. Jones’ Letter of Resignation from the Trust
Contact Molly Ringo, assistant superintendent, central region, 425-385-4023