Solxsys Administrative Solutions
IBEW Local 104 has partnered with Solxsys Administrative Solutions for Retirement plan services. If you have any questions regarding your account, please contact Solxsys Administrative Solutions at 1-866-945-6339.
The Importance of Paying Dues Until Retirement
ELIGIBILITY FOR RETIREE BENEFITS
Eligibility Before Medicare
If you retire on or after turning 55 years of age, you are eligible to continue your coverage under the Plan until you are eligible for Medicare coverage or age 65 (whichever comes first) if you meet all of the following requirements:
- You are eligible for benefits on your retirement date, based on Employer contributions, your Bank of Hours, or COBRA self‑payments.
- You have been credited with at least 5,000 hours of contributions in the seven years immediately preceding your retirement. For this purpose, you will be credited with 40 hours per week for each week you received Weekly Accident & Sickness benefits or Workers’ Compensation benefits for which no contributions were made on your behalf. If you do not have 5,000 hours during that period, you will not be eligible for retiree coverage under the Plan, but you will be eligible for COBRA coverage.
- You agree to make the required monthly self-payment rate on time. The monthly self-payment rate is determined at least annually and may change at any time.
- You have been a participant for at least ten consecutive years immediately before retirement in this Benefits Fund or in a health fund that has merged into this Fund and
Eligibility After You Become Eligible for Medicare
Once you become eligible for Medicare (whether or not you apply for and enroll in Medicare Parts A or B), your coverage will change to a Medicare Supplemental Benefit. The Plan coordinates with your Medicare benefits (see “Medicare: Coordination” for additional information). If you do not elect Medicare Parts A and B when you become eligible, the Plan will not consider your Part A or Part B claims until proof of Medicare eligibility is provided to the Fund Office.
This Plan offers its retirees Prescription Drug Coverage that is annually reviewed to determine “actuarial equivalence” under the Center for Medicare Service’s rules. Retirees over age 65 should not sign up for Medicare Part D since doing so will remove the retiree’s prescription drug coverage under this Fund. The retiree would then not be able to be covered by this Fund’s prescription drug coverage in the future. Retirees are encouraged to contact the Fund Office if they have questions about Medicare Part D.
Retiree/Medicare Supplement Program
Qualifications:
- You must be 55 or disabled
- Have 5,000 hours in the Past 7 years for Collectively Bargained Employees
- You must have active coverage on your retirement date either through banked hours or COBRA
- If you are Medicare age eligible YOU MUST elect Parts A & B coverage along with submitting proof of coverage
- You agree to make the required self-payment rate on time. The monthly payments are due on the 1st of each month
- Non-Collectively Bargained Employees must be a participant of the plan for 10 consecutive years
Pricing:
Single Retiree Under Age 62 and not Medicare Eligible:
Medical, Dental, Vision and RX ……$690.00
Single Retiree Under Age 62-65 and not Medicare Eligible:
Medical, Dental, Vision and RX ……$460.00
Single Retiree with Spouse and not Medicare Eligible Age 62 to 65:
Medical, Dental, Vision and RX ……$690.00
Single Retiree with Spouse & Family not Medicare Eligible:
Medical, Dental, Vision and RX ……$1380.00
Single Retiree Over Age 65 and on Medicare — Medicare Supplement:
Medical, Dental, Vision and RX ……$115.00
Retiree and Spouse BOTH OVER Age 65, and on Medicare — Medicare Supplement:
Medical, Dental, Vision and RX ……$230.00
Retiree on Medicare and Spouse not on Medicare:
Medical, Dental, Vision and RX ……$575.00
If Opting Out of the Retiree Coverage please contact the Fund Office at 1-800-832-6538.