Newsletter

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.

As outlined within the Funds announcement letter of September 4th, effective, January 1, 2021, the Lake County Indiana NECA–I.B.E.W. Health and Benefit Plan is converting its medical and prescription drug plans for Medicare-eligible participants into the following:

The Board of Trustees of the Lake County Indiana NECA – I.B.E.W. Health and Benefit Plan recently performed and completed a proposal process to select a new third-party administrator to replace both Benefit Plan Administrators (BPA) and Paylocity. The Board considered proposals from a number of potential partners.

From March 16th, 2020 through March 20th, 2020 Paylocity will be performing necessary upgrades to improve their systems. During this time, participants debit cards as well as their ability to electronically submit claims will be temporarily suspended.

Whenever you update your contact information within either the Paylocity, SavRx, Teledoc, Grand Rounds or Vanguard, please make certain that you provide the Fund Office with those updates as well.

Effective March 1, 2020, the following improvements have been made to the S.U.B. Fund.