MICHIGAN CARPENTERS' FRINGE BENEFIT FUNDS
Michigan Carpenters' Health Care Fund
Michigan
Carpenters' Pension Fund Managed for the
Trustees by:
Michigan Carpenters' Apprenticeship &
Training Fund TIC INTERNATIONAL
CORPORATION
MODIFICATIONS
We are pleased to announce that the Board of
Trustees of the Pension Fund has amended the Plan as follows:
·
Effective September 1, 2001, the Joint & 75% Survivor Optional
form of Benefit will be available to retiring Participants.
·
Effective immediately, under Article II, Section 4 – Years of
Service for Other Employment, the name of the State of Michigan Department of
Labor was changed to reflect its new name - the Michigan Department of Consumer
and Industry Services.
·
Effective retroactive to May 1, 2001, a Limited Waiver of the
Suspension of Benefits Provision was adopted to permit retirees to work in a
supervisory, office or managerial position, which was not covered by the
Collective Bargaining Agreement, such as superintendent, estimator, etc. The Limited Waiver was granted so that the
contractors could staff their jobs with experienced and highly skilled workers
during this busy construction season.
The Waiver is in effect from May 1 through December 31, 2001 and will
apply only to employment with a union contractor who contributes on its
bargaining unit employees to this Fund or to another pension fund affiliated
with the United Brotherhood of Carpenters and Joiners of America.
·
Effective May 1, 2001, the Plan’s Suspension of Benefits Rules were
reinstated. This means that Pension
Benefits will be suspended if a Retired Participant returns to work at the
Carpentry Trade during a calendar month and works 40 or more hours with the
State of Michigan.
·
The Unlimited Waiver of the Suspension of Benefits provision was
extended through April 30, 2001.
·
Effective retroactive to September 1, 2000, the total pension
contributions remitted on an Active Participant’s behalf, subsequent to any
Permanent Break(s) in Service that he may have suffered, will be included in
the calculation of his Accrued Benefit.
Board
of Trustees
Michigan
Carpenters’ Pension Fund
To: PLAN PARTICIPANTS OF THE
MICHIGAN CARPENTERS’
PENSION FUND
Re: 2000
SUMMARY ANNUAL REPORT
Dear Plan
Participant:
This
is a summary of the annual report of the Michigan Carpenters’ Pension Fund,
Sponsor Identification Number 38-6233978, for the period of September 1, 1999
through August 31, 2000. The annual
report has been filed with the U. S. Department of Labor’s Pension and Welfare
Benefits Administration, as required under the Employee Retirement Income
Security Act of 1974 (ERISA).
Benefits under the Plan are provided by a Trust. Plan Expenses were $26,672,113. These Expenses included $2,574,765 in
Administrative Expenses (see Note A),
and $24,097,348 in benefits paid to Participants and Beneficiaries. A total of
3365 persons were Participants in or Beneficiaries of the Plan at the end of
the Plan Year, although not all of these persons had yet received the right to
receive benefits.
The value of Plan Assets, after subtracting Liabilities
of the Plan, was $535,084,326 as of August 31, 2000, compared to $479,621,748
as of September 1, 1999. During the
Plan Year, the Plan experienced an increase in its Net Assets of
$55,462,578. This increase included
unrealized appreciation or depreciation in the value of Plan Assets; that is,
the difference between the value of the Plan’s Assets at the end of the year
and the value of Plan Assets at the beginning of the Year, or the cost of the
Assets acquired during the Year. The Plan had Total Income of $82,134,691,
including employer contributions of $17,659,880, realized gains of $19,724,134
from the sale of Assets, earnings from investments of $44,388,963 and other
income of $361,714.
An
Actuary’s statement shows that enough money was contributed to the Plan to keep
it funded in accordance with the minimum funding standards of ERISA.
YOUR
RIGHTS TO ADDITIONAL
INFORMATION
You
have a right to receive a copy of the full annual report or any part thereof on
request. The items listed below are
included in that report:
1.
An accountant’s
report;
2.
Assets held for
investment;
3.
Transactions in
excess of 5 percent of Plan Assets; and
4.
Actuarial information
regarding the funding of the Plan.
5.
Financial
information and information on payments to service providers; and
6.
Information
regarding any common or collective trusts, pooled separate accounts; master
trusts and 103-12 investment entities in which the Plan participates.
To obtain a copy of the full annual report, or
any part thereof, write or call the office of the Plan Administrative Manager,
TIC International Corporation, 6525 Centurion Drive, Lansing, Michigan
48917-9275, at Toll Free (800) 273-5739 or at (517) 321-7502. The charge to cover copying costs will be
$9.50 for the full annual report or twenty-five cents per page for any part
thereof.
You
also have the right to receive from the Plan Administrative Manager, on request
and at no charge, a statement of the Assets and Liabilities of the Plan and
accompanying notes, or a statement of Income and Expenses of the Plan and
accompanying notes, or both. If you
request a copy of the full annual report from the Plan Administrative Manager,
these two statements and accompanying notes will be included as part of that
report. The charge to cover copying
costs given above does not include a charge for the copying of these portions
of the report, because these portions are furnished without charge.
You
also have the legally protected right to examine the annual report at the main
office of the Plan at the address given, at your local union office, at your
employer’s establishment if at least 50 Plan Participants are employed there,
and at the U.S. Department of Labor in Washington, D.C. or to obtain a copy
from the U.S. Department of Labor upon payment of copying costs. Requests to the Department of Labor should
be addressed to: Public Disclosure
Room, N5507, Pension and Welfare Benefit Programs, Department of Labor, 200
Constitution Avenue, N.W., Washington, DC
20210.
Sincerely,
Board of Trustees
Michigan Carpenters’
Pension Fund
Management Trustees Union Trustees,
Bart Carrigan, Chairman David Stark, Secretary
Charles Clark Douglas
Buckler
Wayne Johnson Anthony
Michael
T. Gregory Longpre Dave Miller
Matthew Spence, III Richard Morehead
W. Stanley Whitaker Gary W. Novara
Note A: Administrative Expenses:
Investment fees $1,703,124
Administrative Managers’ fee * 279,154
Payroll audit fees 115,598
Collection fees 101,912
Printing and miscellaneous 72,190
Computer processing 45,764
Summary plan description costs 44,914
Legal fees 38,565
Trustee Fiduciary Liability
Insurance and
Bonding 30,537
Postage for special mailings
23,888
Conference and meeting expenses 23,460
Actuarial fee 23,200
Premiums- Pension Benefit Guaranty Corp 22,789
Bank service charges
20,909
Audit fee 13,200
SSA compliance costs 7,642
Participant notices 4,927
Medical examinations ____ _2,992
Total Administrative Expenses $2,574,765
* Includes rent, equipment,
staffing, daily postage, etc.
As of this date, the members of the Board of
Trustees of the Michigan Carpenters’ Pension Fund are as follows:
Bart
Carrigan David
Stark
Chairman Secretary
2323
North Larch St. Local Union 100
PO
Box 27005 140 N 64th
Avenue
Lansing, MI
48909 Coopersville, MI 49404
Charles
Clark Douglas Buckler
3225
West St. Joseph Local Union 1102
Box
40087 23401
Mound Road
Lansing,
MI 48901 Warren, MI 48091
Wayne
Johnson Anthony Michael
Gundlach
Champion Michigan Regional
Box
849 Council of
Marquette,
MI 49855 Carpenters
3800
Woodward Ave
Suite
1200
Detroit,
MI 48201
T. Gregory Longpre Dave Miller
P.O. Box 27005 Local Union 706
Lansing, MI
48909 6459 W Pierson Road
Flushing,
MI 48433
Matthew Spence, III Richard Morehead
Spence Brothers, Inc. Local Union 525
417 McCoskry, Box 1568 3617
Gembrit Circle
Saginaw, MI
48605 Kalamazoo, MI 49001
W. Stanley Whitaker Gary W. Novara
PO Box 2112 2000 Town
Center
Kalamazoo, MI
49003 Suite 2370
Southfield, MI 48075
PAYMENTS BEFORE AGE 55
Like
many other construction industry pension plans, the Michigan Carpenters’
Pension Fund will, in accordance with the Pension Fund’s plan document and
Department of Labor regulations, suspend your monthly pension benefits if you
return to work for 40 or more hours per month in the same trade in the
construction industry in Michigan (“suspendable service”) unless these
provisions have been waived by Plan Modification.
In
addition, if your pension payments are suspended before you have both reached
age 59 ½ and received pension payments for five year, you may be required,
under the federal Tax Code, to pay an additional 10% “penalty” income tax on all
or a portion of the pension payments you previously received.
Accordingly,
if you consider returning to work in the same trade in the construction
industry in Michigan, you should first contact both: (1) the Pension Department
at the Fund Office to learn what the Fund’s suspension-of-benefits rules are at
that time; and (2) your tax advisor to consider the potential income tax
effects of returning to work and having your pension benefits suspended at that
time.
Board
of Trustees
Michigan
Carpenters’ Pension Fund
APPROACHING
THE NORMAL
RETIREMENT
AGE
Re: MICHIGAN
CARPENTERS’
PENSION
FUND
Dear
Plan Participant:
This
notice applies only to Plan Participants who do NOT elect to retire at the normal retirement age and who may choose
to continue working. “Normal Retirement
Age” under the Pension Plan is age 65.
If
you continue to work after reaching the normal retirement age, your Plan’
Suspension of Benefit Rules will be applied even though you have not actually
retired.
Under
the Suspension of Benefit Rules, no benefits are payable for any month in which
you work 40 hours or more in the same industry, same trade or craft, and within
the State of Michigan, or within the jurisdiction of any Participating Local
whether within or without the State of Michigan. This suspension is applicable
until the April 1st following the calendar year in which you reach
age 70 ½ or unless waived on a temporary basis by this Board of Trustees. Thereafter, you may both work and receive
your monthly pension.
If
you continue to work after reaching the normal retirement age, but work less
than 40 hours per month or do not work at all, no pension benefits will be paid
during such months. However, when you
do retire, you may be entitled to additional benefits for those months between
your normal retirement age and your actual date of retirement if you did not
work at least 40 hours in the same industry, same trade or craft, and within
the State of Michigan, or within the jurisdiction of a Participating Local
whether within or without the State of Michigan.
Be
assured that application of the Suspension of Benefits Rules while you are
working after reaching the normal retirement age will in no way affect your
current vesting or benefit accrual status
under
the Plan. When a participant who
continues to work after his normal retirement age decides to actually retire,
his normal retirement benefit will be determined in accordance with the regular
Plan provisions. Such provisions give
credit for work performed under the Plan prior to actual retirement if the
requirement of a minimum 435 hours of work in a Plan Year is met.
If
you disagree with how the Suspension of Benefit Rules is being applied to your
particular case, you have the right to appeal to the Board of Trustees. The Appeal Procedure is set forth on Page
S-18 of the Summary Plan Description.
If
you have any questions about how the Suspension of Benefit Rules will be
applied to your employment situation, be sure to contact the Pension Department
at the Fund Office before continuing to work beyond the normal retirement age.
Board Of Trustees
Michigan Carpenters’ Pension Fund
NOTICE OF SUSPENSION OF PENSION
BENEFITS PROVISIONS
This
is to remind you of the provisions of the Pension Plan governing Suspension of
Pension Benefits for returning to work at the Carpentry Trade. Under these provisions, Pension Benefits
being paid to Retired Participants may be suspended only if ALL of the following conditions
are met:
1.
A retiree is
working 40 or more hours
during any given month (or during the payroll periods falling within that
month); and
2.
The work is in the
same industry as the type of business activity engaged in by employers who
contribute to the Plan even though his employer may not be a contributing
Employer (e.g., non-union); and
3.
The work is at the
same trade or craft in which the retiree was working when he earned benefits
under the Plan. (Self-employed work, as
well as supervisory work can be considered as a return to work so long as the
retiree is using the same skill or skills he acquired while he worked under a
union collective bargaining agreement); and
4.
The work is
performed within the State of Michigan, or within the jurisdiction of a
Participating Local whether within or without the State of Michigan
This suspension is applicable until the April 1st
following the calendar year in which the retired Participant reaches age 70
½. Thereafter, you may both work and
receive your monthly pension.
Under
the provisions of the Plan, every retiree is
required to notify the Fund Office immediately if he returns to work in any
capacity regardless of whether he returns to work for a non-contributing
employer (e.g., non-union) or in a self-employed capacity. Failure to notify the Fund Office in a
timely manner of a return to work may subject the retired Participant to
possible Suspension of his current and/or future Pension Benefits.
Please note that the Suspension of Benefit
Provisions have been waived through April 30, 2001 for any Retired Participant
who returns to work at the Trade for a contributing employer and works four
hundred sixty-eight (468) Hours of Work.
Board Of Trustees
Michigan Carpenters’ Pension Fund
NOTICE TO ALL RETIREES
OF A LIMITED
WAIVER OF THE
PENSION PLAN’S
SUSPENSION
OF BENEFITS PROVISION
You
were notified recently that the Trustees of the Michigan Carpenters’ Pension
Fund had discontinued the waiver of the Pension Plan’s Suspension of
Benefits provisions effective May 1, 2001, and that your monthly pension
benefits will be suspended if you work at the trade in the building and
construction industry in Michigan, including as a supervisor or in
self-employment, for 40 or more hours in any month after April 30, 2001.
The
Trustees have decided to permit retirees to work in a supervisory, office or
managerial position which is not covered by the Collective Bargaining
Agreement, such as a superintendent, estimator, etc., without being subject to
the Suspension of Benefits provision.
This limited waiver was granted so that the contractors can staff their
jobs with experienced and highly skilled workers during this busy construction
season. The waiver will be in effect
from May 1 through December 31, 2001 and will apply only to employment
with a union contractor who contributes on its bargaining unit employees to
this Fund or to another pension fund affiliated with the United Brotherhood of
Carpenters and Joiners of America.
To
be eligible to work under this limited waiver, you must notify the Fund in
writing that you are working in a supervisory, office or managerial position
for a contributing Employer, identify the Employer and certify that you are not
working with the tools and that you will not be supervising anyone performing
work non-union (for a non-signatory employer) in any of the trades which fall
within the work jurisdiction of the United Brotherhood of Carpenters. The
enclosed form is to be used to provide the initial notification, which must be
filed immediately if you are now working or have worked since May 1, 2001, in
such a supervisory, office or managerial position. You will be required to complete and file this same form every
month in which you work under the limited waiver. Copies of the form can be
obtained from the Pension Department at the Fund Office.
Because
this waiver applies only to non-bargaining work, no contributions will be
accepted by the Funds on your behalf, but you may continue to make
self-payments to continue your health care benefits.
If you have questions about this limited waiver of the Suspension of Benefits provision, call the Pension Department at the Fund Office.
Board
of Trustees
Michigan
Carpenters’ Pension Fund
To: PLAN
PARTICIPANTS OF THE MICHIGAN CARPENTERS’
HEALTH CARE FUND
Re: 2000
SUMMARY ANNUAL REPORT
Dear Plan Participant:
This is a summary of the
annual report of the Michigan Carpenters’ Health Care Fund, Sponsor
Identification Number 38-2106877, a self-insured fund, for the period of
September 1, 1999 through August 31, 2000.
The annual report has been filed with the U.S. Department of Labor’s
Pension and Welfare Benefits Administration, as required under the Employee
Retirement Income Security Act of 1974 (ERISA).
The Joint Board of
Trustees has committed itself to pay certain medical, surgical and their health
care claims incurred under the terms of the Plan.
The value of Plan Assets, after subtracting
Liabilities of the Plan, was $3,605,741 as of August 31, 2000, compared to
$9,914,976 as of September 1, 1999.
During the Plan Year the Plan experienced a decrease in its Net Assets
of $6,309,235. This decrease included
unrealized appreciation or depreciation in the value of the Plan Assets; that
is, the difference between the value of the Plan Assets at the end of the Year
and the value of the Plan Assets at the beginning of the Year or the cost of
Assets acquired during the Year. During
the current Plan Year, the Plan had Total Income of $17,810,801, including employer
contributions of $13,984,068, employee contributions of $3,189,978, earnings
from investments of $953,806, realized losses of $354,242 from the sale of
Assets and miscellaneous income of $37,191.
Plan Expenses were $24,120,036. These Expenses
included $1,742,560 in Administrative Expenses (see Note A on the next page)
and $22,377,476 in Benefits paid on behalf of Participants and Beneficiaries.
YOUR RIGHTS TO ADDITIONAL INFORMATION
You have a right to
receive a copy of the full annual report or any part thereof, on request. The items listed below are included in that
report:
1.
An Accountant’s
report;
2.
Assets held for
investment;
3.
Transactions in
excess of 5 percent
of Plan Assets; and
4. Financial information and
information
on payments to service
providers.
To obtain a copy of the full annual report, or
any part thereof, write or call the office of the Plan Administrative Manager,
TIC International Corporation, 6525 Centurion Drive, Lansing, Michigan
48917-9275, Toll Free (800) 273-5739 or (517) 321-7502. The charge to cover copying costs will be
$3.50 for the full annual report or twenty-five cents per page for any part
thereof.
You also have the
right to receive from the Plan Administrative Manager, on request and at no
charge, a Statement of Assets and Liabilities of the Plan and accompanying
notes, or a Statement of Income and Expenses of the Plan and accompanying
notes, or both. If you request a copy
of the full annual report from the Plan Administrative Manager, these two statements
and accompanying notes will be included as part of that report. The charge to cover copying costs given does
not include a charge for the copying of these portions of the report because
these portions are furnished without charge.
You
also have the legally protected right to examine the annual report at the main
office of the Plan at the address give, at your local union office, at your
employers’ establishment if at least 50 Plan Participants are employed there,
and at the U.S. Department of Labor in Washington, D.C. or to obtain a copy
from the U.S. Department of Labor upon payment of copying costs. Requests to the Department should be
addressed to: Public Disclosure Room,
N-5638, Pension and Welfare Benefit Programs, Department of Labor, 200
Constitution Avenue, N.W., Washington, D.C. 20210.
Joint Board of Trustees
Union Trustees, Management Trustees,
David
Stark, Chairman Bob
Fontana, Sec.
Michael
Donnelly Duane Bremer
Arthur
Huff Stanley Buell
Gary
Isham Wayne Johnson
Dave
Miller
Hazel Leonard
John
Nagelhout Robert Root
Note A: Administrative Expenses:
Transfer to other funds
$655,947
Administrative Managers’ fee * 540,803
Payroll audit fees 115,179
Printing and miscellaneous 104,583
Collection fees 97,514
Investment expenses 75,759
Computer processing costs 53,413
Bank service charges and
Lock box fee
19,591
Conference and meeting expenses 17,261
Legal fees 16,630
Trustee Fiduciary Liability
Insurance and
Bonding 14,825
Annual Audit fee 13,200
Actuarial fee 9,200
Notices to participants
4,926
Summary annual report costs 2,125
Other expenses 1,079
Educational foundation dues 525
Total Administrative Expenses $1,742,560
* Includes rent, equipment,
staffing, daily postage, etc.
As
of this date, the members of the Board of Trustees of the Michigan Carpenters’
Health Care Fund are as follows:
Union Trustees
Management Trustees
David Stark Bob Fontana
Local Union 100 2323
N. Larch St.
140 N. 64th
Avenue P
O Box 27005
Coopersville, MI Lansing,
MI 48909
49404
Michael Donnelly Duane
Bremer
Local 1510 Gerace Const. Co.
150 Old Kiln Road 4708
James Savage
Marquette, MI 49855 Midland,
MI 48640
Arthur Huff Stanley Buell
Local 1102 Grand River Const.
3617 Gembrit
Circle 520
36th, Box 323
Kalamazoo, MI 49001 Hudsonville, MI
49426
Gary Isham Wayne
Johnson
Local 706 Gundlach
Champion
6459 W. Pierson Road P O Box 849
Flushing, MI
48433 Marquette, MI 49855
Dave Miller Hazel
Leonard
Local 706 Kreighoff-Lenawee
6459 W. Pierson Road Box 100
Flushing, MI
48433 Adrian, MI 49221
John Nagelhout Robert Root
Local 100 Forrester
Const.
140 N 64th Avenue P
O Box 606
Coopersville, MI 49404 Flint,
MI 48501
To: PLAN PARTICIPANTS OF MICHIGAN CARPENTERS’ HEALTH CARE FUND
Re: WOMEN’S HEALTH
AND CANCER RIGHTS
Dear
Participant:
Due to recent changes in Federal law, the
Trustees of your Health Care Fund are issuing this annual notice in compliance
with the Women’s and Cancer Rights Act of 1998. Your Health and Welfare Plan already
provides the benefits required by this new law. You have a right to this notice, and the Trustees are providing
the notice for your information so that you may be assured that you are treated
in accordance with Federal law if the need arises.
The Federal law requires that all health care
plans that provide medical and surgical benefits for mastectomies provide,
Participants and Beneficiaries receiving mastectomy benefits and who elect
mastectomy related breast reconstruction with coverage for the following:
·
Reconstruction
of the breast on which the mastectomy has been performed.
·
Surgery and
reconstruction of the other breast to produce a symmetrical appearance; and
·
Prostheses and
physical complications of all stages of mastectomy including lymph edemas; in a
manner determined in consultation with the attending physician and the
patient. Such coverage may be subject
to annual deductibles and coinsurance provisions as may be deemed appropriate
and as are consistent with those established for other benefits under the plan
or coverage.
The
Fund has provided coverage for mastectomies for a number of years. As part of this coverage, the Plan also
covered the procedures necessary to effect reconstruction of the breast on
which the mastectomy was performed, as well as the cost of prostheses and
physical complications of all stages of mastectomy, including lymph edemas, as
recommended by the attending physician of any patient receiving Plan benefits
in connection with the mastectomy and inc consultation with the patient. The Plan also covers any surgery and
reconstruction of the other breast to achieve a symmetrical appearance.
Please
keep this notice with your Summary Plan Description. If you have any questions regarding these federal requirements,
please contact the Fund Office.
Board
of Trustees
Michigan
Carpenters’ Health Care Fund
To: PLAN PARTICIPANTS OF MICHIGAN CARPENTERS’
HEALTH CARE FUND WHO ARE “ACTIVELY
EMPLOYED” AT THE TRADE, OR THEIR SPOUSES, WHO ARE CLOSE TO AGE 65 OR
WHO ARE 65 OR OLDER
If you are currently
employed and eligible for Medicare, Federal law requires that the Fund offer
you a choice as to whether you want Medicare or the Michigan Carpenters’ Health
Care Fund to be primary payor of your health care benefits.
Previously, if you
were an active employee, or your
spouse who was age 65 or older and
had Medicare coverage, Medicare paid first and then the Fund paid for
supplemental coverage up to the limits provided for under the Fund’s Schedule
of Benefits.
In an effort to
reduce Medicare costs, Congress passed a law, which requires that for active
employees or dependent spouses age 65,
or over, group health plans, rather than Medicare, be the primary payor of
benefits unless the employee or spouse specifically elects to have Medicare as
the primary payor. In effect, Federal
law shifts more of the cost of your health care services from Medicare to the
Fund.
If you select
Medicare as the primary payor of benefits, your out-of-pocket expenses will
generally be greater than they would be if the Fund is the primary payor. This is due in part to the fact that if
Medicare is the primary payor, the Fund will NO LONGER BE PERMITTED to provide any supplemental coverage
for hospital or surgical services. You
would have to depend totally on Medicare or other privately purchased health
insurance.
Also, if Medicare is
the primary payor, the Fund would NOT
be permitted to pay any of the deductibles or co-insurance required for
Medicare services, NOR be permitted
to pay any amount above the limits set by Medicare or various health care
services.
Because of the
additional costs to YOU if
Medicare is the primary payor of benefits, the
Trustees have decided that the Fund should be the primary payor of benefits for
all participants age 65 or over, and for their spouses age 65 or over, who are
still actively employed at the Trade, even though it may result in
increased costs to the Fund to provide such coverage. This means that, in most cases where Medicare and the Fund cover
the same items or services, the Fund will pay first and then Medicare will
supplement the Fund’s coverage up to the Medicare limits.
In most cases, the
Fund’s benefits are more generous than those provided under Medicare. Where they are not, you retain the right to
file your claim with Medicare for whatever supplemental coverage is available. Your combined benefits from Medicare and the
Fund will remain unchanged if the Fund is the primary payor.
If for some reason
you would prefer to have Medicare as the primary payor, you must state this
preference in writing to the Fund Office within
90 days of the date of this notice.
In making this
decision, we suggest that you compare the Fund’s benefits with those provided
under Medicare and consider the consequences of selecting Medicare as the
primary payor.
A complete
description of the Fund’s eligibility rules and Schedule of Benefits may be
found in your Summary Plan Description (SPD) and in subsequent notices of
changes, which have been mailed to you.
If you need a copy of this information, feel free to contact the Fund
Office.
A description of
Medicare’s eligibility rules and benefits may be found in a booklet entitled,
“Your Medicare Handbook.” A copy may be
obtained from your local Social Security Administration Office.
REMEMBER:
If you select Medicare as your primary payor of benefits, the Fund may
NOT supplement the Medicare coverage in any way and you are fully responsible
for any Medicare deductibles and co-insurance.
Regardless of your
election decision, it would seem advisable for you to pay the required monthly
premiums for the Medicare Part-B Program, which covers physicians’
charges. This will generally help cover
certain expenses not covered under the group health care plan. It should be noted that if you fail to pay
the Part-B premiums on time while you are working between the ages of 65 and
69, you may still be able to enroll in the Part-B Program when you stop working
or reach age 70, without payment of a late penalty. (For details, check with your local Social Security Administration
Office.)
If you have not yet
applied for Medicare coverage, we urge you to do so as soon as possible. Your local Social Security Administration
Office will assist you with determining your eligibility for such benefits and
with completion of the application form.
If you have any
questions about the information provided in this notice, please contact the
Fund Office.
Board of Trustees
Michigan Carpenters’
Health Care Fund