IBEW Local 490 - Benefits

Medicare Eligible Retirees

Tue, 17 Jul 2007 14:49:01 -0400

Attention Medicare Eligible Retirees: If you did not receive a notice from New England Electrical Workers yet, please be advised that effective 6/1/07, the rates will change. If you are on Medicare, your rate will be $50.00 per month per person.
Annuity Changes: Effective July 1, 2007, the Annuity Fund will change from a Money Purchase Pension Plan to a Profit Sharing Plan. One of the changes will be a hardship distribution. However, the reason for the withdrawal of funds must satisfy the conditions set by the IRS, and the amount that can be withdrawn only applies to the money contributed after the Plan changed to a Profit Sharing Plan (July, 2007). We will be planning an information meeting later this summer or early fall.
Kathy Smith

New Insurance

Mon, 12 Mar 2007 10:14:32 -0400

It’s been a couple months since we’ve changed our health insurance, and all seems to be going well. Just as a reminder make sure you show your new insurance card to your doctors and dentists as we are getting quite a few dental claims here at our office. If you have any problems at all, please give me a call to give you assistance. We may be able to buy additional hours for members that had hours in the bank shortly… we’ll keep you updated.

We’ve had a few bad days on the market performance recently. Over the next month, there will be opportunities for the patient investor to make some tactical trades – perhaps buying oversold assets like equities, especially emerging equities, and selling assets like US Treasuries. But remember, more strategic investors will sit tight, as they understand that these events would happen when setting their strategic benchmarks, and have the fortitude to ride this through. It is important to remain mindful of the fundamentals of the market and not be distracted by single day events.

Wayne Albert

Mon, 05 Feb 2007 14:31:24 -0500

With great sadness we must report to you the untimely death of Brother Wayne Albert.
Wayne was a respected member and contractor for many years he will be greatly missed by the members of L.U. 490

Our condolences to his family and loved ones.

Kathy Smith

Insurance

Thu, 28 Dec 2006 14:09:26 -0500

By now everyone that is currently on medical insurance coverage should have received their new medical cards and booklets for the new insurance that starts January 1, 2007. If you haven’t please give me a call so we can make sure you receive one. If you are working towards your eligibility for insurance, please make sure you contact me if you don’t receive anything from New England Electrical Workers. I’m sure we can resolve any problems that may arise and you will be happy with the new coverage. Also, a reminder to have all your outstanding claims in to Cigna for processing. Hope the new year brings you and your family happiness and good health.