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.
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.
“TCB” – Elvis
Randy Bachman
“Be Prepared”
Robert Baden-Powell
You know how a flight attendant begins the flight explaining what to do in the case of an emergency?
Wait………, before you read any further, two warnings.
Believe it or not:
Your eyes can become sunburned. Like your skin, eyes are an organ.
Even on days when you do not see the sun, your eyes are exposed.
Your overall exposure to damaging ultraviolet radiation (UV) nearly doubles during the winter.
Thursday, September 14th and September 28th, 2023.
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.
Shortage of hours payments for Health and Benefit Fund coverage in the third calendar quarter of 2023 are due at the Benefit Fund office no later than 4:30 P.M. on Friday, June 30th. As always, the rules as it relates to participants with a HRA balance large enough to cover their full shortage of hours payment are in effect.
‘A ROSE BY ANY OTHER NAME……., WOULD SMELL AS SWEET’
William Shakespeare From His Play Romeo and Juliet
During the height of the pandemic congressional consent as it relates to the easing of both the distribution rules and the taxing of those distributions under the Internal Revenue Code was granted to certain types of Defined Contribution Plans.
The chart below is offered as an adjunct to the Health Insurance Portability and Accountability Act. We hope that it stimulates thought, adds clarity, and deepens insight.
HIPAA
HIPPA
HIPPO
Name protects health coverage for people who change jobs.
The International is equally thoughtful as it is insightful when it comes to your future and the future of the IBEW. So what does it say about the IBEW 697 that the International has chosen another member of the team to join their leadership ranks? Moreover, what does it say about the individual chosen? Volumes, Thats what it says!
Personally, I don’t think they could have chosen anyone better.
My first car. Man, I loved it. Got it in high school. With it the world was my oyster. That’s because that car, like oysters or for that matter, minds, tended to be better when opened up. But I digress….
The great quality of that car was that provided you took care of the essentials; it would never let you down.