NEW ENGLAND CARPENTERS BENEFITS FUND Fourth Year Apprentice - - PowerPoint PPT Presentation
NEW ENGLAND CARPENTERS BENEFITS FUND Fourth Year Apprentice Training 6/26/2017 REV6-17 Agenda - Contributions Contacting the Fund Office Checking Your Benefits On-Line Member Sign-In/Password Summary of Contributions
Fourth Year Apprentice Training
6/26/2017
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– Member Sign-In/Password – Summary of Contributions at-a-glance
– How does the CCA Validate and Confirm Hours:
1. Open Pending Reports 2. No Reports Files 3. Payroll Audit
– Annuity – Pension – Health
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Pension Benefits
Annuity Benefits
Life Events
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Service portal.
below:
Employers needing assistance with Point.Click.Remit Option 8 Report missing hours Option 7 Reach a Fund Office staff member Enter 4 digit extension or Option 1 to reach name directory If calling from a doctor’s office, hospital, or
Option 2 Employers or members calling specific departments Option 4 and follow: Press 1 – Health Fund Benefits Press 2 – Pension or Annuity Benefits Press 3 – Vacation Fund Benefits Press 4 – Central Collection Agency re: member or contractor services Press 5 - Electronic Benefits Program or to purchase stamps Carpenters Assistance Program (Paul Greeley) Option 5
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CENTRAL COLLECTIONS AGENCY
> Reporting hours > Tracking “no reports” filed > Setting up new employers and members
> In-house: Jennifer Allen & Brian Crowley > External firm: Buckley, Frame & Boudreau
RECIPROCAL FORM
THE WEBSITE
THE MEMBER STAMP BOOK
> No longer printed & mailed annually
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Authorization Form for the Transfer of Contributions
If you work outside the jurisdiction of Massachusetts, Maine, New
Hampshire or Vermont, you must complete this form so that your hours are with your Home Fund.
Contact the Fund Office for the form. You have 60 days to complete and
return from the date you started working under the related fund. The form can be completed and returned to the Fund Office prior to your actual start date.
Indicate that you want your pension, annuity and health hours
transferred back to your Home Fund.
Once completed, the form does not have to be completed again should
you return to work in that jurisdiction.
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Reciprocal Form – Pension, Annuity & Health
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with a stamp book (at your request currently)
Metropolitan Boston Carpenters Local Unions: 33, 40, 67, 218 Eastern MA Carpenters Local Unions: 26, 107, 111, 275, 475, 535, 624, 1305 Western MA Carpenters Local Union 108 Wharf & Bridge Carpenters (Piledrivers) Local Union 56 Eastern Millwright Regional Council Local Union 1121 MA Floorcoverers Local Union 2168 Northern New England Carpenters Local Unions 118, 1996 Woodframe Carpenters Local Union 723
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Vacation Fund checks are issued annually on December 1,
covering the period October 1, through September 30 (if received by October 31), including any prior periods: (i.e. late contributions)
Keep your address up to date with the Fund Office to avoid: Member address search conducted after 6 months, if check
not cashed -fee $50
Forfeiture: After 6 months if account less than $100 After 12 months if account greater than $100
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When Do I Get Health Insurance?
Step I – At the time you join the Union Step II – First Worked Hour to Fund Office Step III – Hours Worked In Qualifying Work Period Step IV – Receive Eligibility Statement
Local will give you Health Dependent Enrollment form and a Beneficiary Designation form. You should complete and send to Fund office. At the Fund Office, Member Data Department will send a New Member Packet, with information about all benefits. The Fund office will track your hours during two Qualifying Work Periods each year: 1) February – July 2) August – January The Fund Office will send an Eligibility Statement, providing hours worked and resulting coverage for Insured Periods starting October 1 and April 1
Follow These Steps:
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Newly Eligible Participants will receive their identification cards in the mail within 7 to 10 business days from the date coverage is effective.
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Area Plan 1 Plan 2 Qualifying Work Period Insured Period
Massachusetts Carpenters, Piledrivers, Floorcoverers and Millwrights (Mass/RI) 500 hours 1,050 Hours 12-Month Look Back 300 hours August – January and February - July April – September and October - March Northern New England Locals 118 and 1996 600 hours 1,250 Hours 12-Month Look Back 350 hours August – January and February - July April – September and October - March Northern New England Millwrights 575 hours 1,200 Hours 12-Month Look Back 345 hours August – January and February - July April – September and October - March Woodframe Local 723 700 hours 1,450 Hours 12-Month Look back 420 hours August – January and February - July April – September and October - March Western Mass Local 108 600 hours 1,250 Hours 12-Month Look Back 350 hours August-January and February-July April-September and October-March
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Medical & Surgical Benefits through the BCBS PPO network Prescription Drug Program: Express Scripts and Diplomat for
specialty drugs
Vision Benefits: Davis Network or Carpenters Vision Center Carpenters Assistance Program in partnership with KGA Dental Benefits: Delta Dental (Plan 1 only) Iora Primary Care Life Insurance: AIG Benefit Solutions
Medical Coverage & Benefits
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Apprentice Training Center Hours
If you are an Apprentice attending school at the Apprentice Training Center and do not work enough hours during a work period, the Plan will grant coverage if you are short 40 hours or less for one week of school or 80 hours or less for two weeks of school. Apprentice Training Center hours cannot be applied toward Short Hour Buy-In, COBRA, or the 12-Month Look Back rule.
Disability Extensions
If you become totally disabled during a work period and, as a result of that disability, you did not have enough hours to qualify for coverage, you may be eligible for a Disability Extension that extends your coverage period under the Plan. You may be granted coverage for up to two insured periods over the course of your career. They may be used consecutively in connection with one continuing disability, or they may be used on separate occasions in connection with separate disabilities
Accident & Sickness Benefits (Cannot be receiving Workers Compensation or Unemployment)
$500 per week for Plan 1 Participants BCBSMA
Life Insurance
$20,000 upon the death of the participant
$2,000 upon the death of the spouse
Accidental Death or Dismemberment Benefits
Accidental Death and Dismemberment (AD&D) Insurance provides a benefit for Plan I and II participants for accidental loss of life, limbs or eyesight while you are covered by the New England Carpenters Health Benefits Fund through worked hours, including Short Hours Buy-In or a disability extension. Accidental Death coverage is $20,000.
Widow’s Extension
Upon the death of the participant, the surviving spouse and dependents will be eligible for an extension of health insurance for a period of 3 years, provided the surviving spouse and dependents have no other coverage.
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Additional Medical Benefits
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Carpenters Center, Boston is the home of Carpenters Care
1.Vision Center 2.Audiology 3.Carpenters Assistance Program (CAP) 4.Iora Primary Care
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✓ Parenting Resources ✓ Elder Care Resources ✓ Legal Assistance ✓ Financial Consultation ✓ Stress Reduction ✓ Career Assessment ✓ Work-Life Resources ✓ Nutrition Consultation
Grea eat Benefi efits for Life fe
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New England Carpenters Benefits Fund For more information contact us at www.carpentersfund.org or 800.344.1515
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What Do You Want To Do? Call or Visit….. Find an In-Network Doctor or a Free Standing CT Scan or MRI Facility www.bcbsma.com or 800.810.2583 Call the 24-Hour Nurse line 888.247.BLUE (2583) Quit using Tobacco 800.Try.To.Stop Visit the Vision Center 617.782.0100 Find a Dentist www.deltadentalma.com Visit a “Minute Clinic” www.CVS.com or call a local CVS Prescription Assistance (Express Scripts) 800.939.3750 or www.express-scripts.com Diplomat Specialty Pharmacy 888.514.5156 Carpenters Assistance Program (CAP) 800.344.1515 ext. 1160 Employee Assistance Program (EAP) 800.648.9557 Hearing Aids – Hear USA 800.700.3277 or www.hearusa.com
Service Provider Contact List
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What does “VESTED” mean and how do I become vested?
retire
Year (January 1 – December 31)
Hours Worked in a Plan Year Years of Vesting Credit Earned 840 or more 1 Year 700 or more but less than 840 .5 Year 560 or more but less than 700 .4 Year 420 or more but less than 560 .3 Year 280 or more but less than 420 .2 Year 140 or more but less than 280 .1 Year Less than 140 0 Year
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What are Pension Credits?
1 – December 31)
than one in a plan year
year divided by 1,400 and rounding to four decimal places. The minimum number of hours is 140 to earn .10 pension credit.
Example: 140 hours .1000 256 hours .1829 930 hours .6643
earned when you retire
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FIVE YEAR BREAK RULE
If you stop working in covered employment and you are NOT vested
when you leave, after FIVE YEARS you will incur a Break in Service and lose all the pension and vesting credits earned prior to the Break.
Example: John has 3 pension credits and 3 vesting credits through
does not earn 0.1 pension credit/vesting credit (140 hours) before December 31, 2020, he will incur a Break in Service because he was not vested when he stopped working.
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❖ First Year Apprentice Pension Credit
❖ Employers do not pay pension contributions for First Year Apprentices. Once you
have earned 10 pension credits, the Fund will credit your record with the hours you have worked as First Year Apprentice.
❖ Worker’s Compensation/Sickness Disability Credit
❖ If you are unable to work due a work related injury or a non-work related injury, you
may be eligible to have your pension credited with sickness disability credit of 35 hours per week for a maximum of 52 weeks per lifetime. To be eligible you must have earned 0.1 pension credit in one of the two calendar years prior to the disability.
❖ Military Credit (USERRA) for Pension and Annuity
❖ If you are called to active duty in the Armed forces, you may be eligible for the
pension and annuity Funds to credit your record for the time you served. Contact the Fund Office when you are discharged for details. Eligibility is determined based on a participant working 140 hours in the 12 months prior to active duty and upon discharge returning to covered employment within the time period prescribed by law.
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Age 62 with 10 pension credits
Any age with 30 pension credits – No reduction for age
Age 62 with 5 vesting credits
Age 55 with a minimum of 10 pension credits- Reduced for age
At any age with either 10 pension credits or 10 years of vesting service
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3.0 Pension credits and 0.1 Pension credit worked within a thirty-six month period prior to the member’s death
monthly benefit for life under the 75% Participant Spouse option
10 years under the Ten Year Pension option
participant
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Estimating your Monthly Benefit
Accrual rates are used to calculate your monthly benefit. The various accrual rates are determined by hours worked in a plan year, the contribution rate and work tests.
Listed below are the current accrual rates and additional bonus amounts used to calculate your monthly benefit: Accrual Rate Groups Accrual Rate Work Test Additional Bonus Amounts
Massachusetts Carpenters, Piledrivers, Floorcoverers and Millwrights(Mass/RI)
$127.00
(For Service after 1/1/06)
$108.00
(For Service prior to 1/1/06)
500 hours worked after 12/31/06
1,700 hours - $13.00 1,850 hours - $15.00 2,000 hours - $18.00 Woodframe
$64.00
(For Service after 1/1/05)
500 hours worked after 4/1/04
1,700 hours - $6.00 1,850 hours - $7.00 2,000 hours - $9.00 Northern New England Carpenters
$70.00
(For Service after 5/1/87)
500 hours worked after 12/31/06 N/A
Northern New England Millwrights
$70.00
(For Service 5/1/87- 3/31/2015)
$80.00
(For Service after 4/1/2015)
500 hours worked after 12/31/06 N/A
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(Massachusetts Carpenters Contribution Rate Assumption)
Plan Year Total Hours Pension Credit Accrual Rate Additional Amount Total by Year
2006 2,000 1.0 $127.00 $18.00 $145.00 2007 1,850 1.0 $127.00 $15.00 $142.00 2008 1,700 1.0 $127.00 $13.00 $140.00 2009 1,900 1.0 $127.00 $15.00 $142.00 2010 2,000 1.0 $127.00 $18.00 $145.00 2011 1,800 1.0 $127.00 $13.00 $140.00 2012 1,500 1.0 $127.00
2013 1,700 1.0 $127.00 $13.00 $140.00 2014 1,850 1.0 $127.00 $15.00 $142.00 2015 2,000 1.0 $127.00 $18.00 $145.00
Total per month
$1,408.00
Projected Benefit with 10 Pension Credits
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Estimating your Monthly Benefit
(Massachusetts Carpenters Contribution Rate Assumption)
Plan Year Total Hours Pension Credit Accrual Rate Additional Amount Total by Year
2006 2,000 1.0 $127.00 $18.00 $145.00 2007 1,850 1.0 $127.00 $15.00 $142.00 2008 1,700 1.0 $127.00 $13.00 $140.00 2009 1,900 1.0 $127.00 $15.00 $142.00 2010 2,000 1.0 $127.00 $18.00 $145.00 2011 1,800 1.0 $127.00 $13.00 $140.00 2012 1,500 1.0 $127.00
2013 1,700 1.0 $127.00 $13.00 $140.00 2014 1,850 1.0 $127.00 $15.00 $142.00 2015 2,000 1.0 $127.00 $18.00 $145.00 2016 2,000 1.0 $127.00 $18.00 $145.00 2017 2,000 1.0 $127.00 $18.00 $145.00 2018 1,400 1.0 $127.00
2019 1,700 1.0 $127.00 $13.00 $140.00 2020 1,900 1.0 $127.00 $15.00 $142.00 2021 2,000 1.0 $127.00 $18.00 $145.00 2022 1,700 1.0 $127.00 $13.00 $140.00 2023 1,850 1.0 $127.00 $15.00 $142.00 2024 1,600 1.0 $127.00
2025 2,000 1.0 $127.00 $18.00 $145.00
Total Per month $2,806.00
Projected Benefit with 20 Pension Credits
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WHAT DOES “VESTED” MEAN AND HOW DO I BECOME VESTED
contributions and interest. Also your account is “Guaranteed”
WHEN ARE YOU ELIGIBLE FOR BENEFITS?
PRE-RETIREMENT DEATH BENEFITS
Your account balance will be paid to your surviving spouse if you have been married for at least one year or your designated beneficiary if you are not married
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10 Years
Assumptions: 3% interest per year, 1,600 hours worked per year at a contribution rate of $8.00
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Contributions 12,800 12,800 12,800 12,800 12,800 12,800 12,800 12,800 12,800 12,800 Interest 384 780 1,187 1,607 2,039 2,484 2,942 3,415 3,901 Balance 12,800 25,984 39,564 53,551 67,958 82,797 98,081 113,823 130,038 146,739 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 Contributions Interest Balance
Guaranteed Annuity Fund Projection
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Retirement – Normal or Early Disability – Totally and permanently disabled from the Construction Industry Termination:
24-Month Withdrawal – No more than 160 hours worked within a 24-Month period
provided no hours have been worked in the first month or the last three months prior to the distribution.
12-Month Withdrawal - No more than 160 hours worked within a 12-Month period provided
no hours have been worked in the first month or the last three months prior to the
3-Month Withdrawal and Facing Foreclosure – No contribution for three consecutive
months and facing foreclosure. One Time withdrawal of $50,000 maximum over lifetime allowed.
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eligible for a loan
New home purchase Remodeling or construct a home Tuition Medical expenses Temporary disability To avoid foreclosure or eviction Delinquent real estate taxes Funeral expenses To acquire a primary residence Cobra premiums through the Carpenters Health Benefits Fund
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If your marital status changes If you have a baby, adopt a child or become a stepparent or
legal guardian
If you become disabled If you enter the Military If you move Upon the death of you or your spouse
Participants and Dependents should contact the Fund Office ASAP because Life Events affect your benefits.
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Pension and Annuity:
Call 978-694-1000 or 800-344-1515 and ask for Pension and Annuity. All staff are trained to assist you. Manager of Member Services – Ingrid Bieren Supervisor – Melissa Clark
Health Benefits Fund:
Call 978-694-1000 or 800-344-1515 and ask for Health Fund. All staff are trained to assist you. Manager – Lisa McGovern
Central Collections Agency:
Manager - Jim Reagan, 978-752-1163 Assistant – Margo DiBenedetto, 978-752-1134
Executive Director:
Jeff Werner, 978-752-1132 Executive Assistant, Marilou O’Connell, 978-752-1149
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