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11/23/2009 - Application for Extension of Amortization Period
In response to last year's economic slowdown, the Trustees are continuing to look for ways to improve the condition of the Pension Plan without adversely affecting Plan Participants. Under the law, pension plans that are facing an endangered certification may extend the amortization period for certain liabilities by five years, allowing more time for greater investment earnings resulting from an economic recovery. At the recommendation of the Plan’s actuary, the Trustees have approved a five year extension. For more details, please consult the letter to Plan Participants and the Notice of Application.
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11/13/2009 - Notice to All Active Plan Participants Regarding Changes to the Health & Welfare Plan
Effective for October 2009 work hours (December 2009 coverage), the Plan has been amended
to allow for an hour bank advance of up to 120 hours for active members to prevent loss of
coverage. Hours may be advanced from future hours worked due to an involuntary reduction of
hours resulting from implementation of a 28-hour work week. For more details, please consult the full notice; to view the application, click here.
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11/6/2009 - Loan Provision - San Francisco Electrical Workers Retirement Savings Plan
The San Francisco Electrical Workers Retirement Savings Plan has been amended
to allow a loan to any Participant or Beneficiary in the Plan on or after December 1,
2009. For more details, please consult the full notice and the complete text of the loan policy.
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10/28/2009 - Open Enrollment Period for 2010 Elective Wage Deferrals
Journeymen may elect (or revise a current election) to make 401(k) pre-tax wage deferrals during open enrollment which begins in November and ends December 11, with payroll changes effective January 1. Recently, the bargaining parties to the IBEW Local 6/SFECA Inside Agreement agreed to divert the $3.04 hourly employer contribution from the SFEW Retirement Savings Plan to the NCEW Pension Plan effective January 1, 2010 to shore up the Pension Plan’s funding status in the aftermath of last year’s financial market problems. However, employees will still have the opportunity to elect a 401(k) contribution to the Plan in $1.00 per hour increments up to a maximum of $5.00. Please review the notice from the Trustees and the Deferral Form for more information and to begin or make changes to your 401(k) deferrals.
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8/25/2009 - Adoption of a Hardship Withdrawal Provision
Effective September 1, 2009, a hardship withdrawal provision is being added to the SFEW Retirement Savings Plan. In general, withdrawals are not available under the Plan before retiring. Over the past year, however, a number of participants have asked about accessing funds while still in service. The Board, therefore, has amended the Plan to allow hardship withdrawals to the maximum extent the law allows. Click here for the full notice. To see the Plan's hardship withdrawal rules, click here.
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6/1/2009 - Year 2009 Contract Negotiations Settlement Wage/Fringe Package
The 2009 contract negotiations settlement wage and fringe package has been published. Effective June 1, 2009, there is no change to the wage/fringe package. Effective January 1, 2010: Divert the full Retirement Savings Plan (Defined Contribution Plan) hourly rate of $3.04, and corresponding apprentice rates, from the San Francisco Electrical Workers Retirement Savings Plan to the Northern California Electrical Workers Pension Plan (Defined Benefit Plan) effective January 1, 2010.
Click here for the full notice and wage/fringe schedules.
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4/22/2009 - Special Notice Regarding Plan Status
A Special Notice Regarding Plan Status is now available online. This notifies you that an election has been made under section 204 of WRERA to treat the plan as being neither in endangered nor critical status for the plan year beginning on January 1, 2009. It also notifies you that without this election, the plan’s actuary has certified that the plan would be in endangered status for the plan year beginning on January 1, 2009.
Click here for full article.
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4/22/2009 - Annual Funding Notice
The 2008 Annual Funding Notice is now available online. This notice includes important funding information about your pension plan and provides a summary of federal rules governing multiemployer plans in reorganization and insolvent plans and benefit payments guaranteed by the Pension Benefit Guaranty Corporation (PBGC), a federal agency.
Click here for full article.
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4/17/2009 - IBEW LOCAL UNION 6/SFECA Sponsors Scholarship Program
This year the IBEW Local 6/SFECA Labor Management Cooperation Committee will award a total of twenty educational grants to sons and daughters of contributors to EISB, Inc. their office staff and IBEW Local 6 members who are working for contributing employers to EISB, Inc (including sons and daughters of deceased members who were working for contributing employers at the time of their death).
Download Rules and Procedures »
Download Scholarship Application »
Click here for the full article.
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4/16/2009 - Summary of the COBRA Premium Reduction Provisions under ARRA
President Obama signed the American Recovery and Reinvestment Act (ARRA) on February 17, 2009. The law gives "Assistance Eligible Individuals" the right to pay reduced COBRA premiums for periods of coverage beginning on or after February 17, 2009 and can last up to 9 months.
Click here for full article.
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11/7/2008 - 2008 Medical Plan Information: Retiree
This is the Open Enrollment Package for 2008 containing the open enrollment information.
Click here for Enrollment Package.
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11/7/2008 - 2008 Medical Plan Information: Active
This is the Open Enrollment Package for 2008 containing the open enrollment information.
Click here for Enrollment Package.
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2/13/2008 - Notice of Changes to Health & Welfare Summary Plan Description
The Board of Trustees of the San Francisco Electrical Workers Health & Welfare Trust (the “Plan”) have recently approved several amendments to the Plan effective on January 1, 2008. Those changes are summarized in this document. Click here for full article.
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11/14/2007 - Important Announcement Regarding Your Retirement Savings Plan Account -- Changes in Investment Options
This letter is to inform you of changes in the investment fund options offered in the San Francisco Electrical Workers Retirement Savings Plan. The Board of Trustees of the Plan periodically evaluates the plan’s investment options to provide you with a choice of investment options, which may help you to meet your retirement goals. As a result of that process, the following changes are being made to the plan’s investment fund lineup. Click here for full article.
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11/14/2007 - New Retiree Co-Payment Rates Effective 1/1/2008
Each year the Trustees are presented with a report from the Plan Consultants on revisions to early retiree co-payments. These co-payments are automatically adjusted each year in direct proportion to the changes in Plan costs that have continued to increase over the years. Noting that all participants should play a role in ensuring the financial health of the Plan, the Trustees also review regular and disabled retiree co-payments on an annual basis. Click here for full article.
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11/2/2007 - Letter to Participants
The Board of Trustees of the Northern California Electrical Workers Pension Plan are
pleased to announce that benefit improvements to the Plan were approved at a meeting held
on September 12, 2007. A relatively minor change to the eligibility requirements for a
disability pension was also approved. This letter explains the changes. Click here for full article.
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8/31/2007 - Investment Education Workshop
The Investment Education Workshop is online and ready for you to complete. This workshop contains audio, a slide presentation, and a workbook for download and reference. It is designed to give you the necessary information and tools to manage your own investments. It will help you to understand of the various asset classes available, the risk/return expectations of each, the nature of market volatility, and the design of an asset allocation appropriate to your individual circumstances and risk tolerance. Click here to go to the Investment Education Workshop.
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8/24/2007 - 2006 Pension SAR
This is the Summary Annual Report for the Plan year ending December 31, 2006.
Click here for full article.
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8/24/2007 - 2006 Money Purchase Pension Plan SAR
This is the Summary Annual Report for the Plan year ending December 31, 2006.
Click here for full article.
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7/5/2007 - Change to RxAmerica Mail Service (Indemnity Plan only)
Effective, July 20, 2007, your prescription mail order service is being improved to better serve you. This change will provide you with superior service and the latest technology in mail order pharmacy. There will be no interruption in service due to the change. Below is an outline of what will change for you and what will not change. Click here for full announcement.
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1/5/2007 - San Francisco Electrical Workers Now Covers OTC Antihistamines
San Francisco Electrical Workers has added over-the-counter antihistamines, Claritin, Alavert and
Loratadine to their prescription drug coverage. Antihistamines are used to stop or prevent allergic
reactions. Members will have a $0.00 copay for these antihistamines. The changes to the plan were
effective November 1, 2006.
Click here for full announcement.
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11/8/2006 - 401(k) Election and Salary Reduction Agreement for 2007
Use this form to make 401(k) deferrals from your 2007 hourly wages to your account in the San Francisco Electrical Workers Retirement Savings Plan for 2007. This form must be returned by December 8, 2006 - if no form is received you will be treated as having a 401(k) elective deferral in 2007 based on your 2006 Money Purchase Classification.
Click here for form.
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10/23/2006 - Letter to Participants
This is to advise that the Northern California Electrical Workers Money Purchase Pension Plan (the “Plan”)
will be converted to a Retirement Savings/401(k) plan on January 1, 2007. This change is being made so
that all Plan participants above the apprentice level will have the opportunity to take advantage of Plan
enhancements going into effect in 2007. This notice explains the change.
Click here for full article.
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10/23/2006 - Letter to Participants
We are pleased to announce that the Northern California Electrical Workers Money
Purchase Pension Plan (the “Plan”) will be making some important enhancements, effective
January 2007. You are receiving this letter because contributions made by your employer
are currently being invested in the Trustee-Directed Money Purchase Pension Plan.
Click here for full article.
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10/23/2006 - Contributing Employer to the NCEW Money Purchase Pension Plan
The Northern California Electrical Workers Money Purchase Pension Plan is being converted to
a 401(k)/profit sharing plan effective for all hours worked after December 31, 2006. This change
is being made to reflect various changes in tax and pension laws over the past few years, and to
give participants more flexibility to vary their contributions to the Plan depending on their own
circumstances.
Click here for full article.
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10/23/2006 - ANNOUNCEMENT
The Trustees of the Plan are pleased to advise that, as a result of an increase in hours, an increase
in the hourly contribution rate and the benefit changes that were adopted to help defray
escalating health care costs, the Fund has recouped some of the losses it experienced over the
past several years.
Click here for full article.
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10/23/2006 - Important Notice from San Francisco Electrical Workers About Your Prescription Drug Coverage and Medicare
Please read this notice carefully and keep it where you can find it. This notice has
information about your current prescription drug coverage with San Francisco
Electrical Workers and prescription drug coverage available for people with Medicare.
Click here for full article.
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10/3/2006 - San Francisco Electrical Workers Now Covers Prilosec OTC®
(Indemnity Plan Only)
Prescription strength Prilosec® is now available over-the-counter (OTC) for a $0.00 co-pay.
Prilosec OTC® is a proton pump inhibitor used to treat chronic heartburn. Using this medication
instead of more costly alternatives is a great way to save money on your prescription
drug costs.
Click here for full article.
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9/19/2006 - IMPORTANT INFORMATION REGARDING YOUR PHARMACY BENEFIT
(Indemnity Plan Only)
In an effort to improve the mail order pharmacy service you receive, we are pleased to announce American Diversified Pharmacies (ADP), a state-of-the-art mail order facility to fill your prescription needs. This does not affect your prescription drug benefits and you can expect to pay the same copay amount for your mail service prescriptions as you currently pay.
Click here for full article.
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9/19/2006 - Enhanced Prescription Benefits for San Francisco Electrical Workers
(Indemnity Plan Only)
Beginning August 1st 2006 you will now have the option of obtaining maintenance prescriptions written for an 84 day supply but not greater than a 90 day supply exclusively at the retail chain pharmacy Longs Drugs Stores. You will continue to be responsible for the 20% copay for both brand and generic medications at the time of purchase.
Click here for full article.
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9/18/2006 - 2005 Health & Welfare SAR
The Health & Welfare Summary Annual Report for the Plan year ending January 31, 2006, is now available online. Click here for full article.
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7/3/2006 - Announcement to all Plan Participants
The 2006 Open Enrollment Material is Enclosed;
The Open Enrollment Period Ends July 26, 2006
With Plan Changes Taking Effect August 1, 2006
The Trustees of the Plan are pleased to advise that, during the fiscal year ended January 31, 2006 and as a result of an increase in hours, an increase in the hourly contribution rate, and plan benefit changes that were adopted to help defray escalating health care costs, the Fund was able to recover a portion of the losses it experienced over the past several years. The Summary Annual Report reflecting the Funds' financial activity over the last fiscal period will be mailed to all Plan participants later in the year. For full announcement, click here.
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