Centurytel Inc Employees' Benefit Trust

Overview

The Centurytel Inc Employees' Benefit Trust is a nonprofit organization established as a Voluntary Employees' Beneficiary Association (VEBA) under Section 501(c)(9) of the Internal Revenue Code. Located in Denver, Colorado, this trust is primarily focused on providing long-term disability benefits and life insurance for eligible employees of CenturyLink, Inc. The organization was created to support employees facing unexpected disabilities and to offer financial security during such challenging periods.

Mission and Purpose

The core mission of the Centurytel Inc Employees' Benefit Trust is to deliver financial assistance through its self-insured disability plan and life insurance benefits for non-bargained retired employees. Benefits from this trust are capped at $50,000, ensuring that employees have access to a safety net during periods of disability or retirement. The emphasis is on mutual benefit, contributing significantly to the well-being of its members and their families.

Management and Governance

The trust operates under the fiduciary responsibility of The Northern Trust Company, which serves as the trustee. The organization is managed alongside other employee benefits administered by CenturyLink, Inc., thereby providing a cohesive approach to benefits management within the company.

Financial Information

The Centurytel Inc Employees' Benefit Trust maintains transparency through its financial disclosures, including the submission of Form 990, which is required for tax-exempt organizations. In 2022, the trust reported revenues of approximately $7,951, all derived from investment income. The trust's total assets were reported to be around $435,529, with no liabilities.

Key financial highlights include:

• Revenue: $7,951 (2022)
• Total Assets: $435,529
• Executive Compensation: $6,437

Impact

Through its programs, the Centurytel Inc Employees' Benefit Trust plays a vital role in ensuring that employees have financial security in the event of disability or retirement. This organization has a significant impact on its members, providing not only essential financial support but also peace of mind for employees and their families as they navigate health-related challenges. The trust underscores the commitment of CenturyLink, Inc. to the welfare of its workforce, ensuring that employees are taken care of during critical times.

In summary, the Centurytel Inc Employees' Benefit Trust is a crucial component of the employee benefits ecosystem, dedicated to fostering long-term welfare and financial stability for those it serves.