Sunday, October 6, 2024

Frequently Asked Questions

Health Care
Q. What is the Plan's prescription service?
A. Envision
Customer Service: 800-361-4542
website: http://www.envisionrx.com
Effective 11/1/09
Participants will pay 30% of the cost of their prescriptions, for both Retail and Mail Order for all generic and brand name drugs.
Q. What is the Plan's rule for initial health care coverage?
A. 375 hours in 6 months (with employer contributions) or less gives eligibility the 1st day of the 2nd and 3rd month following. when participant first becomes eligible 125 hours is added to his bank.
Example: You work 375 hours in from February through July. You will be eligible for health care coverage August 1st and September 1st and you will have 125 hours added to your bank.
Q. What is the Plan's death benefit?
A.
  • Journeyman $40,000
  • Apprentice $40,000
  • Production $30,000
  • Active Self Pay $15,000
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Pension

Q. How do I become a Participant in the Pension Plan?
A. You become a Participant in the Pension Plan when you are credited with 870 Hours of Work in an eligibility computation period for a covered Employer.
Q. How many hours do I have to work in a Plan Year to earn a full Year of Credited Service?
A. Years of Credited Service are what determine benefit accrual. 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 345 Hours of Service. You earn one full Year of Credited Service for each Plan Year in which you perform 1,740 or more Hours of Work. For each Plan Year in which you are credited with more than 300 Hours of Work, you will accrue a pro-rated fractional part of a Credit Year. For example, if you performed 800 Hours of Work in a Plan Year, you will be credited with .46 Years of Credited Service
Q. When will I have a right to receive benefits from the Pension Plan?
A. 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 292.
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Annuity

Q. How do I become a participant in the Annuity Fund?
A. You will become a Participant when, within any period of 12 consecutive months, you are credited with 300 Hours of Work for work with one or more Employers.
Q. How do I become vested in my account?
A. Once you become a Participant you are 100% vested in the value of your Accrued Benefit Account.
Q. How will I know how much is in my account?
A. You will receive a statement on your Annuity Fund balance each quarter. You may call Merrill Lynch Retirement Services' Participant Telephone Service (PTS) at 800-229-9040, 24 hours a day, seven days a week to get account information or make changes to your account. For additional information, Merrill Lynch Customer Service Representatives are available 8:00 a.m. to 7:00 p.m., Monday through Friday. You may also access your account information via the Internet. The web site address is http://www.benefits.ml.com. To access your account information, you will need a secure browser (one that supports 128-bit encryption), your Social Security number and your PIN. Your PIN is the same PIN you use for the PTS (you will be assigned a Personal Identification Number upon becoming a participant in the Fund.) Through both the PTS and the web site you can find out your account balance, loan balance, investment performance, change your PIN, change your investment options or request a prospectus. However, address changes for your statements and application requests must be made through the Fund Office.
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SUB

Q. What will My Benefit amount be?
A. Weekly Benefits are as follows: (the same benefit rate applies for Work Compensation, Bereavement, and Jury Duty).
JR/APP $ 175.00
PROD A/B $ 80.00
PROD C $ 24.00
Q. How do I become initially eligible as a participant?
A. You will be eligible for benefits when you have accumulated 12 credits within a period of 24 consecutive months. Once you have initially qualified for eligibility by accumulating 12 credits, you continue to be eligible for benefits regardless of the number of credits maintained in the account.
Apprentices have to meet the same Eligibility Requirements as a journeyman of accumulating 12 credits within a period of 24 consecutive months.
Initial Eligibility is met immediately upon earning your 12thCredit.
Once the credits have been exhausted, you will immediately re-qualify for benefits upon earning an additional credit, unless no contributions are received as a result of work performed by you for 24 consecutive months, in which case you must reestablish initial eligibility.
If no contributions are received by the fund in your behalf for a period of twenty-four (24) consecutive months, all of your accumulated credits will be canceled. Also, if you fraudulently omit an important fact or make a false statement in your application for benefits, the Trustees may cancel your accumulated credits.
Q. What are the credits ?
A.
  • For each work month in which your employer makes contributions to the Fund on your behalf for at least (120) hours of work, you will be credited with one (1)Credit.
  • For each work month in which your employer makes contributions to the Fund on your behalf for at least (140) hours of work, you will be credited with two (2) Credits.
  • No more than two (2) credits can be earned per month\ The maximum number of Credits which can be accumulated is twenty-six (26) Credits.
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