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the plan for retirees in the amount of $2,787,000. During the
Plan year, the VEBA Trust paid benefit claims, including related
expenses, in the amount of $31,572,854. The VEBA Trust's balance
at First Interstate on November 30, 1987, was $7,992,215. The
balance on December 31, 1986, was $35,058,670.
The parties have stipulated that the addition to the account
limit for CIBU's for the trust year ended November 30, 1986, if
based on the safe harbor limits of section 419A(c), is
$10,020,825 (plus $617,245 of related administrative costs), and
if not based on the safe harbor limits, is $7,619,925 (plus
$395,683 of related administrative costs). The parties also
stipulated an increase, pursuant to section 419A(f)(7), in the
amount of $432,010.
Petitioner's 1987 VEBA Trust Contribution
Pursuant to an amendment to the VEBA Trust agreement on
December 29, 1987, employee welfare benefits for collectively
bargained employees ceased to be funded through the VEBA Trust
and were thereafter funded through a separate VEBA trust for
collectively bargained employees. On December 29, 1987,
petitioner contributed $12,400,000 to the VEBA Trust and
$37,700,000 to the VEBA trust for the collectively bargained
employees. The amounts contributed to the VEBA trust for the
collectively bargained employees are not in issue in the instant
case.
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