7
Financial and Conclusion
Financial.
For calendar year 2014, the Trustees once again engaged the accounting firm of Hill,
Barth & King, LLC to audit the Trust’s books. This firm has concluded its audit for the fiscal year-
ending December 31, 2014. Its audit report confirms the substance of the financial summaries in
this report:
“Statements of Net Assets Available for Benefits” — Page 10
“Statements of Changes in Net Assets Available for Benefits” — Page 11
“Statements of Benefit Obligations” — Page 12
“Statements of Changes in Benefit Obligations” — Page 13
The Trust’s fund is not immune to market trends. In each of their regular meetings, the Trustees
monitor the performance of the Trust’s investments and that of their investment managers.
The Trust continues to have group insurance contracts with Aetna Life Insurance Company to
provide life insurance benefits for covered retirees only. The Trust provides the medical benefits
under the Plan through a self-insurance arrangement for covered retirees and spouses. Aetna
continues to provide certain administrative services that are important in the operations of the Trust,
including regular, comprehensive internal audits.
Aetna’s audits of the Trust’s internal operations continue to show outstanding results. These results
reflect the cooperation, attitude and performance of the Trust’s staff. Once again, each of this year’s
three audits reflected payment accuracies of 100% and statistical accuracies of 100%.
The Trust continues to perform “in house” audits on certain medical claims, large claims, and
questionable claims. The Trust encourages the use of many types of cost-saving measures when
possible, such as second surgical opinions; use of outpatient, rather than inpatient facilities; home
healthcare; individual case management; FDA-approved, generic drugs, etc.
Conclusion.
During the past fiscal year, the Trustees continue to protect the financial stability and
long-term viability of the Trust. As in the past, the Trustees will continue to make additional changes
or modifications to the Trust’s operations, including the Trust’s Plan of Benefits as-needed.
Even with the unpredictability of health and healthcare issues, the Trust is able to deliver innovative
programs and helpful support to those it serves.
From the Office of the Director.
This past year marked the retirement of Executive Director
Marilyn Barnes who had worked in various positions at the Trust for over 25 years. We would like to
wish her a long and happy retirement. Also retiring was Trustee Steve Segebarth, who served as a
Trustee for thirteen years, two of which he Chaired the Trust’s Board of Trustees. We would like to
thank him for his many years of service and dedication to the Trust. As his replacement, we
welcomed Scott Grau as a new Trustee.
As the Trust continues to evolve with the changing regulations and options available in the health
care industry, we look to the future with our sights set on delivering outstanding programs and
support to those we serve.
We would like to thank all the Trustees, the International Union, its Local Unions, and the
contributing employers for their continued cooperation, interest and support.
Respectfully submitted,
Jodi L. Hopper, Director
