Welfare Notes - November 2001

November, 2001

The Money Purchase Pension Plan annual statement was mailed to all participants on October 31. This statement is for the fiscal year 2000/2001 which ended on July 31 2001. Any contributions after this date will appear on next year's statement. This year's statement will show the balance for your individual account as of July 31. The statement will also show the contributions placed in your individual account since the last valuation date. It will also show your share of the earnings for the fiscal year and your share of the expenses paid for the fiscal year preceding the valuation date. If you have not received your annual statement please contact the Welfare Plan office, and we can make arrangements to forward your statement. This would also be a good opportunity to make sure that the Plan Office has your correct address on file, and that you have filled out the beneficiary form for the Money Purchase Pension Plan.

Pensioners who incur expenses for medical, surgical, dental, prescription drug or vision care and treatment, the SUP Welfare Plan will pay a maximum benefit of up to $3500 in any 12 month period ending on July 31. The Plan will pay for any reasonable charges for actual expenses by any Hospital or Facility. The plan also reimburses monthly Medicare Part B premiums up to the maximum benefit. This Medicare benefit may also be used to pay for a spouses Medicare payment. The payment is added to your monthly pension check and deducted from your annual allowance. If you are not now participating in this benefit you should contact the plan office as soon as possible for more information.

SUP Welfare Plan
Rich Reed, Welfare Plan Representative 
450 Harrison Street 
San Francisco, CA 94105

E-mail: planoffice@sailors.org