SUMMARY PLAN DESCRIPTION
2002 EDITION
401(h) Medicare Benefit
Once you are retired and receiving monthly pension benefits
from the Plan, you may be eligible to receive a 401(h) Medicare Benefit. This
benefit is not a pension benefit and is separate from your accrued pension
benefit. The Plan will pay $31 per month for you and $31 per month for your
spouse toward the cost of supplemental Medicare Benefit coverage that you
obtain. To be eligible to apply for this benefit
§
You (and/or your spouse) must be covered under Medicare Part A and
Part B,
§
You must be a member in continuous good standing in your local
from the later of your date of retirement or January 1, 2002, and
§
Your last employer in the Sheet Metal Industry must be
contributing to the National Pension Fund at a rate of at least $0.72 if you are
a Construction Employee or at least $0.36 if you are a Non-Construction
Employee.
§
You must have worked 3,500 hours in Covered Employment in the five
calendar years before the year in which your pension is effective. The 3,500
hours must be in a job classification with a Contribution Rate of at least $0.72
if you are a Construction Employee or at least $0.36 if you are a
Non-Construction Employee.
The Plan will make payment only to the supplemental
Medicare provider with whom you have enrolled. The Plan must determine if the
provider is an eligible provider under
Plan guidelines. Generally, this means your coverage must be provided by a
health care fund affiliated with a Local Union or Unions or the Sheet Metal
Workers’ National Health Fund. This is not a guaranteed pension benefit nor
does the Plan actually pay the cost of any medical treatment or care. The
Trustees, in their sole and absolute discretion, may amend the Plan from time to
time to eliminate the benefit or establish the amount of the 401(h) Benefit and
the eligibility requirements for such benefits. You should contact the Pension
Benefits Department to obtain information and enrollment forms for this benefit.
