; board of trustees For purposes of this title— (A) the assets of each USA Retirement Fund shall be held in trust; and (B) the Fund shall be governed by a board of trustees which shall consist of at least 3 individuals who— (i) are independent of service providers to the Fund; (ii) meet the qualification requirements established under this section; and (iii) are collectively able to adequately represent the interests of active participants, retirees, and contributing employers. (2) Independence requirement An individual is not independent of Fund service providers for purposes of paragraph (1)(B)(i) if such individual— (A) is an employee of any Fund service provider; (B) is a current or former officer or director of a significant Fund service provider, or is otherwise affiliated with such a provider; (C) is a member of the immediate family of any person who is affiliated with a significant Fund service provider; (D) derives more than 1 percent of the individual's annual income from a significant Fund service provider; (E) derives more than 5 percent of the individual's annual income from any Fund service provider