Retiree Eligibility and Contributions
If you are no longer actively employed due to retirement or a disability, you may be eligible for retiree benefits. The level and type of benefit coverage is based on if you are eligible for Medicare coverage (see Benefits page).
You must enroll for retiree benefits at the time of your retirement; otherwise, you will have no retiree benefits. The only circumstance in which you can waive coverage at retirement and reinstate it at a later date is if you are covered as a dependent under your spouse’s employer’s plan and you submit a Decline Coverage (Opt Out) Election form (see Retiree In and Out Program section below).
To be eligible for retiree benefits, you must:
- Retire from the industry (due to age or disability) under a qualified pension plan;
- Be at least age 57 1/2;
- Have been eligible for Plan benefits for at least 48 of the most recent 60 months or, if unable to meet the 48-month requirement, been eligible for Plan benefits for at least 96 of the last 120 months prior to retirement; and
- Have been eligible for Plan benefits at the time of retirement.
When you become eligible for retiree benefits, coverage is also available for your spouse and dependent children, if they were eligible for coverage at the time of your retirement. In order to begin coverage, you must send the Fund Office the required self-payment.
If you become eligible for Medicare due to age and you have maintained eligibility for the Plan through the Fund from retirement (48 of the 60 most recent Benefit Months or 96 of the 120 most recent Benefit Months immediately preceding retirement) you will be eligible to purchase the Supplemental Medicare Retiree Benefit. Disabled participants entitled to Medicare may also purchase Supplemental Medicare Retiree Benefits to supplement Medicare and coverage for prescription drug expenses.
Non-Medicare Eligible Dependents
If you die or become eligible for Medicare after you retire, your non-Medicare-eligible dependent(s) may purchase coverage on a quarterly basis.
If your spouse is Medicare-eligible, he or she can continue Fund coverage by making self-payments, provided:
- you maintain eligibility through the Fund or you are deceased and your widowed spouse has not remarried;
- the required self-payment contribution is made;
- your spouse maintains Medicare Parts A and B coverage; and
- the Local Union to which you belonged continues to participate in the Fund.
HIPAA special enrollment opportunity. Should you have a new dependent by adoption, placement for adoption, birth or marriage following your retirement date, you may be able to add this dependent to your benefit coverage. Contact the Fund Office for additional information.
You are required to make quarterly, self-payment contributions in order to receive retiree coverage under the Plan. The amount of your self-payment is determined by the Trustees. The Trustees may change self-payment contribution rates at any time.
Contributions for coverage are required on a quarterly basis and coverage is provided for a full Benefit Quarter. A notice of the required self-payment amount will be sent from the Fund Office approximately one month before the start of a Benefit Quarter. A due date for receipt of the self-payment will also be provided. Late self-payments will not be accepted.
Refunds due to an election to terminate coverage during a Benefit Quarter will only be issued in the event of your death or the death of your spouse.
Direct Payment Option
You can choose to have your self-payments directly withdrawn from your checking or savings account. Contact the Fund Office to secure the necessary form for completion.If you elect this direct (debit) payment option, your bank account will be debited for the payment and you will not have to issue a check. The amount deducted monthly will be one-third of the quarterly payment. The required amount will be deducted from your account on the 15th day of each month, beginning the month before the start of the Benefit Quarter, and will continue until you notify the Fund, in writing, that you wish to terminate the authorization.When there is a change to the quarterly self-payment amount, you will be provided at least thirty (30) days notice of the new amount that will be deducted. It will not be necessary to complete a new authorization form if the amount changes.
When Coverage Begins
Retiree coverage is effective the first day of the month after your eligibility under the active employee plan ends and your self-payment is received by the Fund Office.
When Coverage Ends
The Trustees reserve the right to discontinue benefits for retirees at any time. Primarily, retiree coverage ends:
- on the date ending the last period for which the required self-payment is paid; or
- on the date you meet the current monthly active Dollar Bank charge amount; or
- if you or your spouse have coverage under Medicare, on the date your coverage under both Part A (hospital) and Part B (medical) ends; or
- if your participating Local Union withdraws from the Fund, on the last day of the month for which contributions are required to be paid to the Fund, under the terms of the applicable Collective Bargaining Agreement; or
- for dependents, on the date they no longer meet the definition of an eligible dependent under the Plan; or
- on the date the Plan is terminated.
Retiree In and Out Program
You can waive retiree coverage if you are covered as a dependent under your spouse’s employer’s plan. You can then reinstate your retiree coverage under the Plan if you lose coverage under your spouse’s employer’s plan (for reasons other than non-payment of premium), acquire a dependent, or become entitled to Medicare.
In addition, your spouse may defer Fund coverage if you qualify for Medicare before your spouse and he or she continues to be covered under his or her employer group health plan. When your spouse loses coverage through his or her employer’s plan or becomes entitled to Medicare, he or she can then choose to obtain coverage under the Plan.
In order to waive Fund coverage, you must provide the Fund Office with proof that you are covered under another group health plan, and you (and your spouse) must complete and sign an Decline Coverage (Opt Out) Election form.
If you or your spouse fails to reinstate Fund coverage within 30 days of the earliest to occur of the events listed above, you will permanently lose your ability to reinstate coverage through the Plan.