Welfare Notes - July 2011

July, 2011

Changes to Investment Options in Money Purchase Pension and 401(k) Plans

The Trustees of your two retirement Plans, with the goal of offering Plans' participants the most attractive range of investment options possible, have decided make changes in the investment lineup. You were notified last month of the change in the stable value fund option from Bank of America to Charles Schwab which will take place in mid-August. In addition, four new funds will be added in replacement of lesser performing funds on or around August 29. The Standard will provide full details of the changes in a notice to participants in late July or early August.

Active Participants' Coverage for Dependents

The enrollment period to add dependents between the ages of 19 to 26 years old was July 1, 2011 through July 31, 2011 as notified in mailings to SUP Members. All members who added dependents in July 2011 were sent letters advising them of the enrollments. If you sent an enrollment request and did not receive a response please contact the Plan office. If you did not add your dependents at this time the next available period will be in your Plan’s next open enrollment period.

Dependent children between the ages of 19 to 26 can only be enrolled as dependent children if they do not have the option of coverage through an employer or the employer of a spouse. Please notify the Plan office of changes in your dependents’ status.

New dependents including new born children and spouses must be added to your Plan within 30 days of a child’s birth or within 30 days of the marriage. Copies of birth certificates and marriage certificates along with completed enrollment forms are required to add dependents. Also notify the Plan office of divorces and changes in address.

Pensioners Annual Allowance

The new fiscal year for the Pensioners Annual Allowance begins August 1, 2011 and runs to July 31, 2012. This is for covered services received in that time period. Remember all claims must be filed within 90 days of the date the service is performed or within 90 days of the Medicare processing of your claim. Please check with the SUP Welfare Plan for any questions about your eligibility, coverage, or claims.

Michelle Chang, Administrator  
Patty Martin  
Virginia Briggs, Claims   
Michael Jacyna, Eligibility