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Welfare Notes - Jul 2010 |
Dear Participant: We are pleased to present SUP Welfare Plan's Summary Plan Description describing the benefits provided by the SUP Welfare Plan. The Plan was established in accordance with Collective Bargaining Agreements between the Sailors' Union of the Pacific and participating employers. The Plan Description furnishes a brief description of the benefits to which you and your family are entitled, the rules governing these benefits, and the procedures that should be followed when making a claim. This booklet includes certain information concerning the administration of the Plan as required by the Employee Retirement Income Security Act of 1974. We urge you and your family to read this booklet thoroughly so that you will be familiar with the benefits of the Plan. We are pleased to present this booklet describing the benefits provided by the SUP Welfare Plan. Welfare Notes - August 2010Money Purchase Pension Plan & 401(K) Plan Third Quarter StatementsThe Money Purchase Pension Plan and 401(K) Plan quarterly statements are currently being redesigned by Standard Retirement Services. Effective with The Standard’s third quarter mail out in late October 2010, you will receive separate statements mailed in separate envelopes for each of the two Plans. Each Plan statement will be in color and contain the same investments activity and performance information that you are accustomed to seeing, as well as your total contributions for the quarter. However, your daily shipping and contributions history will no longer appear on the statements that you receive from The Standard. Instead, the SUP Welfare Plans Administrative Office will produce a contributions and mandays detail statement that will be mailed to you at about the same time as The Standard’s Money Purchase Pension and 401(k) Plans quarterly statements. Questions regarding reported shipping days and contributions should be referred to the SUP Welfare Plans Administrative Office at 415-778-5490 or 1-800-796-8003.Dependent Coverage for Active ParticipantsCurrently, the SUP Welfare Plan covers unmarried dependent children until they reach age 19. Effective August 1, 2011 in accordance with the Patient Protection and Affordable Care Act, adult children of Plan participants will be eligible for coverage to age 26, regardless of the child’s marital or student status, if they are not eligible for other employer-sponsored coverage. A special enrollment period will begin for such dependents on July 1, 2011.Enrollment and EligibilityPlease be sure to check with the SUP Welfare Plan if you have any questions about your eligibility or enrollment in a Medical or Dental Plan. The plans available to you are dependent upon your residence and your home port. Be sure to take the time to enroll in a plan once you become eligible to give yourself the best options to deal with unexpected illnesses, injuries, or dental emergencies. Also keep us informed of address changes and dependent changes. Check your wallet to make sure you have an ID card for your medical and dental plans.Michelle Chang, Administrator SUP Welfare Plan730 Harrison Street, #415San Francisco, CA 94107 Phone Numbers: 415-778-5490 or 1-800-796-8003
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