ANNOUNCEMENT: Defined Contribution and 401(k) Plan Invitation (Oct. 28 & Oct. 29). Click here for more info.

401(k)

In a Defined Benefit Retirement Plan the benefit that is payable is defined in terms of a unit benefit which is normally payable on a monthly basis in the form of an annuity at retirement. In a Defined Contribution Plan each participant has an account with a dollar balance and the benefit that is payable at retirement is limited to the dollar balance that is in the participant’s account.

A participant may diversify investments by either calling John Hancock Retirement Plan Service sat 1-800-294-3575 or by using the My Life Internet Web Site at www.mylife.jhrps.com.

There are over 20 investment options. If a participant does not select from the investment options, their account will be invested in the T.,Rowe Target Date Fund.

Active Members

Health care payments are by the 20th of the month for that month’s coverage, if not received by the last day of the month coverage will be terminated.

They credit 2 months from the time you work them (example March work hours apply towards May health care)

By either electing the cobra within the allowed time or by banking 130 hours in your premium credit account (see page 7 of the SPD)

Yes, FAX it to 763-416-6196.

By credit card, check, annuity or SUB fund deduction only

130 hours per month

You need to call the fund office as this answer varies for each employee

Dental

Contact the fund office

$1500.00 per person per year to cover exams and restorative. You have an extra $1000.00 that will cover oral surgery.

$2500.00 per person per year to cover Diagnostic, Preventative Care, Basic Services, Major Restorative and Prosthetics

www.deltadental.com or call 651-406-5900

Disability

Payments are issued on the 1st and the 15th of the month.

The Loss of Time Benefit is subject to a 52 week cap per occurrence of total disability and a lifetime maximum of 104

The Plan’s Loss of Time Benefit is amended so as to provide that for weeks 1 through 6, loss of time benefits will be paid at the lesser of: 65% of the Employee’s Actual Weekly Wage or 65% of the Current Journeyman Wireman’s Weekly Wage. For weeks 7 thorough 52, loss of time benefits will be paid at 65% of the Employee’s Actual Weekly Wage to a maximum of the Current Effective Minnesota Unemployment Compensation Weekly Rate. The Loss of Time Benefit is subject to a 52 week cap per occurrence of total disability and a lifetime maximum of 104 weeks

There is a seven day waiting period before benefits begin. If confined to a hospital there is no waiting period.

Local Pension Plan

If a participant is qualified under the Rule of 85, he is eligible, even though he is from 55 to 61 years of age, to receive the full Pension benefit that would otherwise be payable at the normal retirement age under the Plan (age 62).

To qualify under the Rule of 85 a participant’s age plus years of benefit service must total at least 85. A year of benefit service is defined as a plan year with at least 425 hours. For example, a participant who is 55 years old with 30 years of benefit service would qualify under the Rule of 85.

A participant need five plan years with at least 850 hours of service with a participating employer to be vested.

Medical

In-Network individual $100.00 or $300.00 family maximum per calendar year Out of Network individual $400.00 or $1200.00 family maximum per calendar year

A breast pump is only covered if the newborn child remains hospitalized after the birth and the mother is discharged from the hospital

There are two clinics that do these immunizations they are:
Park Nicollet -952-993-3131
University of MN (Boynton Health) -612-625-3222.
****When you call you must make sure that the clinic and the doctors are still in the Blue Cross network.The Plan does not pay for the office visit charges for these shots****

Acupuncture is combined with the chiropractic benefit for payment. You have a maximum of $500.00 per calendar year for both combined.

After the $100.00 deductible we pay 85% of eligible expenses to a maximum of $500.00 per calendar year. (for non auto/work related conditions)

If you are at least 50 years of age, we cover 85% of eligible expenses for one routine screening every three years after the $100.00 deductible. If you are younger than 50 and a doctor can verify with a letter of medical necessity that there is a severe presentation of family history of colon cancer we will pay 85% of eligible expenses after deductible.

You are in the “Blue Card” Program, which allows us coverage in the entire USA plus 19 other countries worldwide. Please visit the Blue Cross link or at www.bluecrossmn.com.

No, you are covered by the I.B.E.W. Local No. 292 Health Care Plan.
The Health Care Plan is self-insured and self-administrated. IBEW 292 Health Care Plan pays Blue Cross Blue Shield a fee to take advantage of their negotiated discounts with providers.

Prescription

Beginning on March 1, 2009 the IBEW 292 Health Plan is rolling out a new mail order program to help you and the Plan save money. The benefit to you is by participating in the mail order Rx program, not only do you receive a 3 month supply of your medications, but you can save money as well.

Starting on March 1, 2009 you can convert your current mail prescription with two programs shown below to receive a three month supply of your medications.

  • 90-day Home Delivery Program 
    • Option 1
      • Step 1 Contact your doctor’s office to convert your prescription to a 90-day supply.
      • Step 2 Complete the order form previously received and mail it with your prescription and payment in Prime Mail.
    • Option 2
      • Step 1 Call Prime Mail on or after 3/1/2009 at 1-877-579-7627
      • Step 2 Provide script and doctor’s information and Prime Mail will take care of the rest.
      • Step 3 (Prime Mail will order new prescriptions and transfer current prescriptions.)

Have the Pharmacist run the prescription through Prime Therapeutics, using the UMI number on your medical/pharmacy card.

Retirement

No, you will pay the normal tax only if you are retired between 55 years and 59 ½ .

Contact the fund office approximately 2 months before retiring so we can send you the retirement packet to review and you can gather the documents required.

If you would like to come into our office to go over the forms once you have them completed, please call ahead and make an appointment with one of our retirement specialists.

SUB

A special provision of the Plan allows you to withdraw funds from your SUB account to pay for Electrical Workers Local No. 292 Health Care Plan premiums for you and your dependents if you are unemployed, or have insufficient contributions made on your behalf. To qualify, you must:

  • Establish that your Electrical Workers Local No 292 Health Care Plan benefits have been or will be exhausted because of insufficient employer contributions to the Plan,
  • Withdraw amounts equal to the amount required to keep your Electrical Workers Local No. 292 Health Care benefits in force, and
  • To make the premium payment to the Electrical Workers Local No. 292 Health Care Plan

Withdrawals for Electrical Workers Local No. 292 Health Care Plan premiums will be considered a periodic payment in determining the considered taxable income, and are subject to withholding. Since tax laws change frequently, you should consult a tax expert to determine your exact tax liability. ,Please contact the Fund Office if you wish to make a Health Care Premium withdrawal.

Yes, we automatically take 20% Federal, 5% State -MANDATORY

Yes, if there is a 4 month period where there are no hours reported.

Call 763-493-8833 at the Fund Office.

Every Monday. We must have the Contact Information and Payment Information pages in our office before Monday morning for a check to be cut that day.

As of 8/1/2006, the Minnesota Unemployment office no longer issues, check stubs for their payments. To collect from the SUB Fund you will now need to go to the Minnesota Unemployment website and print off 2 pages to send in each time. The first page is called the Contact Information page (which indicates your name and address) along with the Payment Information page (select the date range you are requesting). You will also need to write either your Social Security Number or the Medical ID number on both pages. Please contact our office for an application. The application is good for 1 year. You may submit via email SUBFund@IBEW292Benefits.org via FAX at 763-416-6196.

$300.00 per week of eligible unemployment pay (20% federal & 5% state). We do pay for your waiting week.

You need at least $625.00 in Employer Contributions to your individual account to qualify for the supplemental unemployment benefit (the “SUB Plan”) unless you are using it for your health care premiums. This level only has to be met once and a minimum account balance is also required.

Vacation / Holiday

Anytime after it is credited to your Credit Union account, under the rules of that particular Credit Union.

Contributions to the Plan are considered to be wages and, for that reason, are subject to federal & state income tax by your employer. Interest credited to your account is also taxable.

Presently only the 292 members that are part of the “Inside Construction & Maintenance Agreement”.

The default is the Electrus Federal Credit Union however you may choose the MN Building Trades Credit Union instead.

Your account is noninterest-bearing unless you become a member of the Credit Union you choose. Credit unions are prohibited by law from paying interest to nonmembers.

Vision

Contact VSP and give them your Identification number (which is your social security number).1-800-877-7195

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