Newsletter

Effective, July 1, 2021, participants who have forty (40) pension credits and elect to retire prior to the age of sixty-two (62) will no longer have their monthly pension benefit reduced to reflect that they will be receiving their Pension benefit for a longer period of time.

I think that sums it up pretty well.

As we move into a new and better year, we hope you have peace amid the difficulties, great and sincere connections with family and friends, the warmth of memories from holidays past, and glimpses of the joy that still lives under the surface.

Effective January 1, 2021:

Your Plan P credit will be increased from $14.00 to $15.00 per credit.
Your $630.00 monthly self-payment will be reduced to $550.00 a month.
Your annual family dental allowance will be increased by 50% to $750.00.

The Plan has scheduled another educational seminar on the new Medicare Advantage PPO Plan and Part D Plan. This seminar will occur via teleconference, at 10:00 A.M. on Wednesday,December 9 th , 2020. Participants wanting to learn or ask questions about their new benefits, should mark their calendars so that they do not miss this opportunity.

You will want to pay particular attention to your mail in the month of December as you will be receiving your new United HealthCare Medicare Advantage PPO medical identification card AND in a separate mailing, your new SavRx pharmaceutical card. The United HealthCarecards will be issued first and arrive in your mail in early December.

You heard about it at the monthly meetings, well now it is here. Effective, January 1, 2021 participants will be permitted to make post tax contributions to the Plan. If you are interested in trying to be in a stronger position to retire, and can afford to squirrel away some money, this option may be of interest to you.

“Love, share & support”
(Me – November 28 th , 2020)

People generally tend to fall into two camps regarding their choices in holiday music. Some appreciate experiencing something different, while others prefer the tried and true and deride anything that would dilute that.

For those who walk the worn path to the camp of the latter, I suspect that this piece will be extremely unpopular with you.

In an effort to assist members who have been affected by the Covid-19 pandemic the Board of Trustees are permitting participants who need to make fourth quarter self-payments to do so over three (3) even and consecutive monthly installments.

Vanguard, in partnership with Financial Engines, will be sending a free, independent and personalized evaluation report of your Money Purchase Plan and Trust portfolio. Specifically, the report will show how much income your portfolio will generate in retirement and make suggestions as to how you may be able to do better.