Any time the Fund has not received enough employer contributions based on hours
you worked for you to continue your eligibility for coverage, you will receive a
Self-Payment Notice. In order for you to continue eligibility, you will be required
to make a self-payment to the Insurance Fund. If the Fund receives contributions
for at least one hour of work in the month for which you are short, you can choose
to make a self-payment either equal to the number of hours multiplied by the contribution
rate needed to bring your total up to the eligibility requirement (in which case
you will receive credit toward eligibility for the hours of work as if an employer
had remitted the contribution), or equal to the subsidized self-payment amount set
by the Trustees (in which case you will not receive credit as if an employer had
paid the contributions). If the Fund did not receive contributions for even one
hour for the month you are short, you must pay the subsidized self-payment amount
set by the Trustees (and you will not receive credit as if an employer had paid
Eligibility with the Fund is completely determined by employer contributions received.
If your employer reports late or fails to remit contributions, you will not receive
credit and your eligibility may be lost. Therefore, in order to avoid a lapse in
your health care coverage, you will have to pay your self-payment even if you worked
enough hours to be eligible but your employer is late submitting the contributions,
or does not pay them at all. In the event the late contributions are received, or
if the Fund is able to collect the money owed, you will be refunded any excess self-payment
amount that you paid. You can help the Insurance Fund collect late payments by keeping
records of all hours worked and notifying the Fund Office immediately if your employer
is late in paying the contributions.
If your full self-payment is not received by the date on which it is due, your coverage
will be canceled. You will be offered the opportunity to continue your and your
dependents' coverage under the Plan's COBRA provisions, but you should know that
the monthly premiums you will have to pay if you elect COBRA coverage owe are much higher than the Fund's regular
You become a Participant in the Pension Plan when you are credited with one Hour
of Service. An Hour of Service is a legal term used to comply with federal law.
It is an hour of sheet metal work performed for an Employer who is required to contribute
to the Pension Plan on your behalf under a collective bargaining agreement with
Sheet Metal Workers' Local Union No. 80 for which you are paid or entitled to payment
or any hour for which back pay is awarded for work you would have performed for
Years of Credited Service are what determine benefit accrual. You earn a partial
Year of Credited Service for each Plan Year in which you have performed at least
435 Hours of Service. You earn one full Year of Credited Service for each Plan Year
in which you perform 1,400 or more Hours of Service. You may earn a partial Year
of Credited Service by taking the total number of Hours of Service you accrued in
a Plan Year and dividing it by 1,400. For example, if you performed 800 Hours of
Service in a Plan Year, you will be credited with .6 Years of Credited Service.
You cannot earn more than one Year of Credited Service in a Plan Year.
You will become entitled to benefits when you become "vested". You are vested if
you accrue at least five (5) Years of Vesting Service. When you become vested, you
are entitled to certain benefits from the Pension Fund that will be paid to you
even if you stop working for employers who are required to contribute to the Pension
Plan under a collective bargaining agreement with Local 80.
You must fill out a Direct Deposit form that you obtain from either the Fund Office
or the Union Local.
Yes, you may choose your own bank or an account can be set up for you through National
It takes about one week for your account to be set up. After a transfer has been
made on your behalf you must provide the bank with identification before you can
You will become a Participant when, within any period of 12 consecutive months,
you are credited with 435 Hours of Service for work with one or more employers.
Once you become a Participant you are 100% vested in the value of your Accrued Benefit
The Annuity Fund has a self-directed investment program which is intended to constitute
a plan described in Section 404(c) of the Employee Retirement Income Security Act
of 1974, as amended (ERISA) and Title 29 of the Code of Federal Regulations Section
2550.404c-1. The fiduciaries of the plan may be relieved of liability for any losses
which are the direct and necessary result of investment instructions given by a
You have the right to direct the investment of your Accrued Benefit Account in any
of the following options chosen and monitored by the Trustees in multiples of 5%,
for a total of 100%.
If for any reason you do not make an investment selection, your Account will be
invested in the Merrill Lynch Preservation Trust, which is a balance of stocks and