 While the number of employers offering health benefits for their workers steadily declines and many large employers abandon defined benefit retirement plans, these benefits have been and will remain an important part of your union membership. As a result of collective bargaining agreements negotiated between your employer(s) and Local Union 825, union members enjoy a number of invaluable employee benefits which may include health, a defined benefit retirement plan (Pension Plan), a defined contribution retirement plan (Annuity Plan), supplemental unemployment, and savings.
With advances in medicine, a majority of us will have a longer period in retirement. A defined benefit retirement plan like the Local’s Pension Plan provides a member with a specified, or defined, benefit amount payable monthly for as long as he or she lives. With the Union’s Annuity Plan, a member who makes investment choices that preserve and grow the contributions made by his or her employer(s) on his or her behalf will receive a benefit at retirement equal to his or her account balance.The Local’s Welfare Plan has been designed to provide quality health coverage to members and their families and includes medical, hospital, death, survivor, temporary disability, vision, dental, and prescription drug coverage. Preventive health care is covered, and health fairs offering clinical screenings are conducted annually. Members and their families have the option of receiving care from one of the many healthcare providers who participate in the Fund’s participating provider network with little or no out-of-pocket expense. The Welfare Fund employs nurses who assist members and their families in securing the best value of their benefits, helping them to understand their treatment options and managing their health.
The entire staff at Local 825’s Funds Office is available to help members make the most of their benefits so don’t hesitate to contact us.
| |