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term disability plan,4 a dental plan,5 a severance plan,6 an HMO
premium plan,7 and a choice plus medical plan.8
On November 11, 1978, Norwest established, effective January
1, 1979, a VEBA trust, under section 501(c)(9), to fund the
employee benefit plans then in existence (i.e., the medical plan
and the long-term disability plan). This trust was originally
called the “Northwest Bancorporation Employee Benefit Trust” and is
hereinafter referred to as the master trust. Over the years, the
master trust was amended to fund the dental plan and the HMO
4 On Aug. 1, 1969, Norwest established the Norwest Corp.
Long-Term Salary Continuation Plan (now known as the Norwest Corp.
Long-Term Disability Plan) (the long-term disability plan). The
long-term disability plan is a combination self-insured/insurance
welfare benefit plan providing monthly disability income benefits
for eligible disabled employees.
5 On Jan. 1, 1980, Norwest established the Norwest Corp.
Dental Plan (the dental plan). The dental plan is a combination
self-insured/insured welfare benefit plan providing for the payment
or reimbursement of all or a portion of covered dental expenses.
6 The Norwest Corp. Severance Pay Plan is a self-insured
welfare plan providing for the payment of severance benefits for
Norwest’s eligible employees.
7 Norwest established the Norwest Corp. HMO Premiums Plan,
an insured welfare benefit plan providing for the payment or
reimbursement of all or a portion of covered medical expenses.
8 Norwest established the Norwest Corp. Choice Plus Plan
(the choice plus medical plan), effective Jan. 1, 1993, which was
funded by the master trust. The choice plus medical plan is a
self-insured welfare plan providing for the payment or
reimbursement of all or a portion of covered medical expenses.
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Last modified: May 25, 2011