Welfare Notes - August 2010

August, 2010

Money Purchase Pension Plan & 401(K) Plan Third Quarter Statements

The Money Purchase Pension Plan and 401(K) Plan quarterly statements are currently being redesigned by Standard Retirement Services. Effective with The Standard’s third quarter mail out in late October 2010, you will receive separate statements mailed in separate envelopes for each of the two Plans. Each Plan statement will be in color and contain the same investments activity and performance information that you are accustomed to seeing, as well as your total contributions for the quarter. However, your daily shipping and contributions history will no longer appear on the statements that you receive from The Standard. Instead, the SUP Welfare Plans Administrative Office will produce a contributions and mandays detail statement that will be mailed to you at about the same time as The Standard’s Money Purchase Pension and 401(k) Plans quarterly statements. Questions regarding reported shipping days and contributions should be referred to the SUP Welfare Plans Administrative Office at 415-778-5490 or 1-800-796-8003.

Dependent Coverage for Active Participants

Currently, the SUP Welfare Plan covers unmarried dependent children until they reach age 19. Effective August 1, 2011 in accordance with the Patient Protection and Affordable Care Act, adult children of Plan participants will be eligible for coverage to age 26, regardless of the child’s marital or student status, if they are not eligible for other employer-sponsored coverage. A special enrollment period will begin for such dependents on July 1, 2011.

Enrollment and Eligibility

Please be sure to check with the SUP Welfare Plan if you have any questions about your eligibility or enrollment in a Medical or Dental Plan. The plans available to you are dependent upon your residence and your home port. Be sure to take the time to enroll in a plan once you become eligible to give yourself the best options to deal with unexpected illnesses, injuries, or dental emergencies. Also keep us informed of address changes and dependent changes. Check your wallet to make sure you have an ID card for your medical and dental plans.

Michelle Chang, Administrator  
Patty Martin  
Virginia Briggs, Claims   
Michael Jacyna, Eligibility