Unified Fire Authority
How are the VEBA funds invested ?
The VEBA Board of Trustees has contracted with Wells Fargo Bank Advisors , which handles the investment of the VEBA funds under the direction of the UFA VEBA Board of Trustees . The VEBA Trustees determine the Investment Policy Statement .
All funds / contributions are pooled together for investment purposes but are allocated as individual accounts for tracking and personal distributions . Any investment gains or losses in the plan are tracked at an individual account level and are treated as withdrawals or deposits to your account . These transactions are posted quarterly and reflected with an “ Earnings ” transaction code on your online statement .
Who sits on the VEBA Board of Trustees ? The VEBA Board of Trustees is comprised of the UFA Chief Financial Officer , Human Resources Director , Chief Legal Officer , two fulltime sworn UFA employees designated by the President of IAFF Local 1696 . In addition , one UFA retired employee , one full-time UFA civilian employee , and two Chief Officers of UFA are designated by the UFA Fire Chief to serve as Trustees .
The current Trustees are : Trustee Board Chair – Chief Officer Representative Assistant Chief Riley Pilgrim Trustee Board Vice-Chair – Union Representative David Banner Trustee Board Secretary – Chief Financial Officer Tony Hill Human Resource Director – Kiley Day Chief Legal Officer – Brian Roberts Union Representative – Jeremy Robertson Retiree Representative – William Brass Civilian Representative -- Sylvia Cardenas
What happens to my account if I die and still have money in my account ? Your Spouse or other tax dependents ** may continue to use the VEBA account for tax-free reimbursement in the same manner as you were able to
If you pass away and you have no spouse or other eligible tax dependents **, the money will revert back to the VEBA trust for redistribution to the plan ’ s existing participants
** A tax dependent is a child or relative whose characteristics and relationship to you allow you to claim them under IRS regulations .
A VEBA can ’ t be willed or given to anyone under IRS regulations ; the funds can only be reimbursed to eligible survivors for eligible expenses as described above .
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