To Do List Before Retirement
Check with the SUP Welfare Plan Office with regard to your health plan coverage and the SIU-PD Pension Plan Department for detailed application requirements.
Your active medical and dental coverage will terminate when you retire. As an example, if your shipping time has given you active plan eligibility through March 2014 and you retire effective January 01, 2014, your active eligibility terminates January 01, 2014.
If you are 65 years of age or older, you should already be enrolled for Medicare Part A. Medicare Part A covers in-patient hospitalizations after a deductible. Most people do not pay for Medicare Part A.
Since active plan coverage will terminate when you retire, you should also visit the Social Security/Medicare office to inquire about Medicare Part B and Medicare Part D. The Plan office will help you complete forms for your enrollment.
SIU-PD Pension Plan Applications
Among various important requirements, applicants for SIU-PD Pension Plan benefits will be asked to certify their intention to retire permanently from all employment in the Maritime Industry.
The Employee Retirement Income Security Act (ERISA) requires that the Plan pay pension benefits to married participants in the form of a qualified Joint and Survivor Annuity unless that form of payment is rejected by the Participant and the Participant's spouse. If married, you will be asked to provide proof of birth of your spouse and a copy of your marriage license. You will be sent a Marital Election Form regarding choices you and your spouse must make and the consequences of such choices.
Proof of each illness or injury of 90 continuous days or more must be provided. If applying for a Disability Pension Benefit, a physician's certification will be required.