Summer is here and we hope that this issue finds you embracing the warmer weather as well as some quality time with family and friends.

In the last issue, we:

Addressed the importance of being prepared and taking care of business,
Spoke to the importance of looking after your eyes (pun attended)
Announced the dates and times of the Health and Benefit Funds upcoming educational meetings,
Informed you of the upcoming reclassification of the Annuity Fund from a Money Purchase Plan and Trust to a Profit-Sharing Plan.

At 6:00 P.M. on Thursday, September 14th, and again on Thursday, September 28th, 2023, there will be a gathering in the Union Hall in which you can learn about your Health and Benefit Plan Benefits. Space is limited, so reserving your seat is required. Spouses welcome.

Spoiler alert: The application of earned excess hours work the same way as they always have!

Summary: As you are aware, the Pension Plan benefit was enhanced in 2023 to provide additional Pension Accrual Credits whenever a participant works 1,800 or 2,000 hours of work in 2023 and beyond.

2 REASONS TO NEVER BORROW FROM YOUR MPP&T ACCOUNT

Borrowing may seem like a good idea, but remember – until you pay the loan back, your money isn’t invested. So, if the market does well the remaining balance of your Money Purchase Plan and Trust won’t experience as much of a gain.