|
Health:
Eligibility, Prescriptions, Retirement
Other:Pension
DB, Pension DC, Vacation
|
|
|
|
If I am an apprentice, when do contributions begin?
|
|
How long does it take to be fully vested?
|
|
When do I receive a statement of benefits?
|
|
How much does my employer contribute on my behalf?
|
|
How can I increase my contribution amounts?
|
|
How do I qualify for a classifications 3, 4, 5, 6 or 7?
|
|
How does changing from a class 2 employee to a class 3 through 7 employee affect my wages? |
|
When can I participate in the Self-Directed investment program administered by Union Bank of CA SelectBenefit?
|
|
Where and when is an educational program available to me?
|
QUESTION: If I am an apprentice, when do contributions begin?
ANSWER: Contributions begin when you become a ninth period apprentice.
Go to TOP
|
QUESTION: How long does it take to be fully vested?
ANSWER: Vesting is immediate. You are 100% vested after the first contribution is made on your behalf.
Go to TOP
|
QUESTION: When do I receive a statement of benefits?
ANSWER: You will receive an annual statement of benefits in September or October of each year.
Go to TOP
|
QUESTION: How much does my employer contribute on my behalf?
ANSWER: The contribution rate is $2.50 per hour for Class 2 employees.
Go to TOP
|
QUESTION: How can I increase my contribution amounts?
ANSWER: As a result of collective bargaining, you may be able to change your retirement savings in the DC Plan by applying to U. A. Local 447 for a new classification with a new contribution rate. You may do this once each year during the month of May.
Go to TOP
|
QUESTION: How do I qualify for a classifications 3, 4, 5, 6 or 7?
ANSWER: U. A. Local 447 determines your eligibility for a change in classification based upon your years of service in the plumbing and pipefitting industry.
Go to TOP
|
QUESTION: How does changing from a class 2 employee to a class 3 through 7 employee affect my wages?
ANSWER: Any contributions to your Defined Contribution Plan above the Class 2 rate will be taken from wages. Before deciding whether or not to apply, you should consider the effect the new contributions will have on your take home pay.
Go to TOP
|
QUESTION: When can I participate in the Self-Directed investment program administered by Union Bank of CA SelectBenefit?
ANSWER: The annual open enrollment period to the Self-Directed program is the month of May. Any changes you make in the month of May become effective with July hours. ATTENDANCE AT AN EDUCATIONAL PROGRAM IS REQUIRED PRIOR TO EMPLOYMENT.
Go to TOP
|
QUESTION: Where and when is an educational program available to me?
ANSWER: Educational programs are provided in the Plumbers' Union Hall and are held usually in May. (Revised March 2003)
Go to TOP
|
