THIS IRREVOCABLE TRUST IS ESTABLISHED FOR THE PURPOSE OF HOLDING ASSETS IN TRUST IN ACCORDANCE WITH SECTION 403 OF ERISA PENDING THE PAYMENT OF SEMCO MICHIGAN UNION RETIREE MEDICAL BENEFITS. NO PORTION OF THE TRUST FUND MAY BE USED OTHER THAN IN THE SOLE AND EXCLUSIVE INTEREST OF PARTICIPANTS WHOSE ELIGIBILITY TO PARTICIPATE RESULTS FROM EMPLOYMENT AS A SEMCO MICHIGAN UNION EMPLOYEE. THE IMMEDIATELY PRECEDING SENTENCE SHALL NOT BE CONSTRUED TO LIMIT THE TRUSTEES ABILITY TO PAY TAXES AND ADMINISTRATIVE EXPENSES FROM THE TRUST FUND.
Executive compensation
Form 990 · Schedule J · 7 reported individuals · Filing year 2024
| Base salary | Executive compensation | |
|---|---|---|
VP Controller vice president $14k | ||
VP Admin Services Utilities vice president $14k | ||
VP Business Services Semco vice president $14k | ||
Institutional Trustee board member $3k | ||
Up 5%
from 2023
From $13k in 2023 to $14k in 2024.
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