Tuesday, May 11, 2021

Frequently Asked Questions

Health Care

Q. Why do I owe money for my health care coverage?

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 the contributions).

Q. What if I worked enough hours to be eligible, but my employer reports the hours late, or does not pay contributions?

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.

Q. What happens if I do not pay my self-payment?

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 self-payments amounts.



Q. How do I become a Participant in the Plan?

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 your Employer.

Q. How many hours do I have to work in a Plan Year to earn a full Year of Credited Service?

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.

Q. When will I have a right to receive benefits from the Pension Plan?

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.



Q. How do I open an account?

You must fill out a Direct Deposit form that you obtain from either the Fund Office or the Union Local.

Q. Can I have my vacation transferred to my own financial institution?

Yes, you may choose your own bank or an account can be set up for you through National City.

Q. How long will it take for National City to open an account for me?

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 withdraw funds.



Q. How do I become a participant in the Annuity Fund?

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.

Q. How do I become vested in my account?

Once you become a Participant you are 100% vested in the value of your Accrued Benefit Account.

Q. How will my contributions be invested?

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 participant.

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%.

  • American Europacific GR FD R3
  • American Growth FD of Amer R3 
  • Columbia Acorn Fund-A
  • Davis NY Venture FD CL A
  • Federated Capital Appreciation 
  • Franklin Capital Grwth FD CL A
  • Franklin Sml -Mid Cap Grwth A
  • Hotchkis&Wiley Mid Cap Val A
  • ML S&P 500 Index Fund CL I 
  • Neuberg BER Genesis FD ADV CL
  • State Street Aurora FD CL A
  • Templeton  Foreign Fund
  • Van Kampen Comstock FD CL A
  • Evergreen Core Bond CL A
  • FID AD Ltd Trm Bond CL A
  • ML Ret Preservation Trust
  • Loan Fund
  • GoalManager

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 bonds.