As previously communicated, the Health and Benefit Plan is transitioning from SAV-RX to MEDIMPACT as the new Pharmacy Benefit Manager (PBM), effective Tuesday, April 1, 2025.
Every active participant and early retiree has been mailed a new medical ID card, which now shows MedImpact on the right-hand side of the front of that card.
The opportunity to learn about your I.B.E.W. Local 697-sponsored retirement plans is fast approaching. Specifically, it’s fifty-two days away as of this writing. If you are not already retired and have not done so previously, reserve your spot by calling the Fund Office at 219-940-6181.
Of course, spouses are welcome to attend along with the member.
ATTENTION – ALL ACTIVE AND EARLY RETIREES OF THE HEALTH AND BENEFIT PLAN!
This is an important reminder that effective April 1, 2025, SavRx will no longer be the Plan’s Pharmacy Benefit Manager (PBM) for both the eligible active and early retiree population of the Plan.
Is bigger always better? Do good things really come in small packages?
Ah. The age-old questions.
Let me tell you that when it comes to your Defined Contribution Plan, bigger is not only better, but preferred.
GETTING IT BIGGER AND MAKING YOUR RETIREMENT MORE SATISFYING
Now, lots of people have reasons for not managing their money.
No. We are not going to interpret the significance of the fictional character and the main antagonist, Hyman Roth, in the 1974 film The Godfather, Part II. Nor are we speaking about Indiana’s own Diamond Dave. (Hey, did you know that when David stopped touring both as a solo artist or as the front man for VH, he became a state-licensed NYC EMT and went on hundreds of EMS calls in the Bronx in the late 90’s? Talk about giving back.
We sincerely hope that those retirees that attended the educational meeting on Thursday, February 20th, 2025, found it beneficial, informative and that they enjoyed the breakfast that was served.
On a personal note - It was great seeing all 142 of you and many thanks for the wonderful questions and for your participation!
If you have any questions about anything that you heard or learned, please do not hesitate to call the Fund Office or Retiree First at 219-940-6181 or 1-844-617-5747 respectively.
As communicated last month, Moses (Mo) Flores, who, as you know, is a registered investment advisor, will once again be at the Locals office on March 17th, 2025.
If you have not started planning for retirement already, the best time to start is today.
Is the date and time that all self-payments for the second calendar quarter of 2025 are due.
Participants that fall into this category please keep an eye on your mail as the shortage of hours notices were mailed out on Thursday, February 27th, 2025. Additionally, the aforementioned due date has also been posted on the Fund’s website since January 1, 2025.
If you are unfamiliar with the self-payment provision of the Plan, please reference the Plan’s Summary Plan Description book.
The Fund Office will be holding a Pension and Defined Contribution seminar on Thursday, May 22, 2025. The meeting is scheduled to start at 6:00 P.M.
If you are curious as to how each of these retirement Plans work, how to maximize the provisions of each, or just have questions, you will want to attend this meeting.
Mail, email, and internet scams have become pervasive in today’s digital age, targeting individuals and businesses alike. Traditional mail scams often involve fraudulent letters promising large sums of money or fake prizes, hoping to trick recipients into providing personal information or paying a fee.