Newsletter

Remarkably, some of you not only read our May newsletter — you liked it. In fact, the feedback lit up brighter than a multimeter on a live wire. (Yes, that’s a volt joke.) So, if you were among the enlightened few: thank you. Clearly, your taste — and your dopamine receptors — are in excellent shape

But for those of you who didn’t read it… why on Earth not? Honestly — we had it all:

A mind-bending account of decision-making so absurd it redefines the phrase “going without a net” to “no net, no plan, and no idea where the ground is.

⚠️ Warning: Viewer Self-Awareness Advised

If you’re an unshakable devotee of the current administration—someone who thinks every blunder is “strategic,” every reversal is “tactical,” and that penguin tariffs are just “bold economic innovation”—this might not be the article for you.

When Bobby ended up in the hospital, his family thought they were in for a fight to get him back on his feet. But little did they know, the real battle was about to be with a tidal wave of phantom bills, surprise fees, and some outright made-up nonsense passing as "care.

For the time-starved - a quick summary – Haiku style:

For years, relief sought—
Coupons, cards, “Pusherman” tools.
Truth comes to light. Ouch.

Still with me? Want more details? Great.

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.