Saturday, July 11, 2020

Frequently Asked Savings Plan Questions


Q.

How do I contribute to the Plan?

A.

Savings Plan contributions in the amount stated in the Collective Bargaining Agreement are paid to you by your Employer as gross wages, subject to all taxes, and then deducted from your paycheck at the full rate called for in the Collective Bargaining Agreement. Your employer is then obligated to send the Savings Plan contributions to the Health Trust.

Q.

How do I request a Savings Plan reimbursement?

A.

You have the option of having your Savings Plan contributions directly deposited into a designated bank, savings and loan or credit union account on a monthly basis, or having automatic semi-annual distributions from the Health Trust. The semi-annual distributions are made in June and December each year and a $20 fee will be deducted from your savings plan contributions. If you wish to make a change please complete the Direct Deposit Authorization Form.