Benefits/Contract Matters

Contract / Joint Efforts Coordinator Randy R. Virgin

 

GHP to Change Pharmacy Vendors

GHP will be changing  Pharmacy vendors as of 1-1-2010 .   They will now be partnering with Medco.  This will not impact GHP's formulary or pre-authorization procedures.    Letters were released to the members and the employer groups yesterday on October6th. GHP representativesfeel very positive about this move since as they think Customer service will be improved and they feel Medco has a great website with member tools. Member under the GHP plan should be receiving notice at home.

____________________________________________________________________________

Members Take Advantage of New Benefit

At Time of Retirement

 

As employee retirements increase following our return to work after the recent plant idle, members of Locals 1899, 68 and 50 are taking advantage of a newly provided Union service.

 

Pursuant to the Memorandum of Understanding negotiated by your Local Union Benefits Bargaining Committee during last year’s contract negotiations, members can now request Union representation at the time of making application for retirement.  

 

This is helpful to Brothers and Sisters in assuring they apply for the appropriate and most beneficial Steelworker Pension Trust (SPT) option and retiree heath care plan, in seeing that members are afforded all benefits they are due, and also providing support and a common perspective during this important process. 

 

Members considering retirement who would like SPT and benefit information, or those planning to retire who wish to take advantage of this newly negotiated benefit to have Union representation at the time of finalizing their retirement application, can call me at 618-452-1899 extension 27.

__________________________________________________________________________________________     

Steelworkers Pension Trust (SPT)

Our current retirement plan under USS

& Retirement Information

There are 3 types of Retirement that are full benefit and afford members Retiree Healthcare Insurance:  

üNORMAL RETIREMENT – Retirement at age 65

ü RULE OF 85 RETIREMENT – Retirement upon age & service adding up to 85 or more

üDISABILITY RETIREMENT – Retirement regardless of age, if member becomes disabled within the meaning of the Federal Social Security Act (and has at least 5 years service)

EARLY RETIREMENT – BENEFIT REDUCTION – A vested

member may retire as early as age 55 with a benefit reduction of

1/4% for each month retirement is prior to age 65

____________________________________

Retirement Insurance Eligibility

You must have at least 15 years of service at time of retirement under Normal Retirement, Rule of 85 Retirement or Disability Retirement to be eligible for retiree healthcare coverage

You are not eligible for retiree heathcare coverage through USS if you retire under an Early Retirement

                                                                                                                                                                                                                                                                                             

 

 

2009 Retirement Bonus Payment

(Under New Contract)

USS will provide a $7,500 cash payment to members following retirement if:

    ü You are at least age 56 as of September 1, 2008

 üYou retire after attaining age 60

             ü.  You retire after January 1, 2009 and before the      end of the 2008 Basic Labor Agreement

The payment will be made no later than the end of the month following the month of retirement.  Payment is subject to employment taxes.

 

You need not physically return to the plant after layoff or vacation

__________________________________________________________________________

COBRA  Assistance Under The ARRA For Laid Off Workers

COBRA Continuation Coverage Assistance Under The American Recovery And Reinvestment Act

The American Recovery and Reinvestment Act of 2009 (ARRA) provides for premium reductions and additional election opportunities for health benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985, commonly called COBRA. Eligible individuals pay only 35 percent of their COBRA premiums and the remaining 65 percent is reimbursed to the coverage provider through a tax credit. The premium reduction applies to periods of health coverage beginning on or after February 17, 2009 and lasts for up to nine months for those eligible for COBRA during the period beginning September 1, 2008 and ending December 31, 2009 due to an involuntary termination of employment that occurred during that period. The TAA Health Coverage Improvement Act of 2009, enacted as part of ARRA, also made changes with regard to COBRA continuation coverage.

 

FOR MORE INFORMATION CONCERNING COBRA CLICK LINK BELOW:

http://www.dol.gov/opa/media/press/ebsa/EBSA20090301.htm

__________________________________________________________________________

_______________________________________________________________________

Spousal Insurance Premium Reimbursement

Most members are aware of U. S. Steel’s requirement that employees whose spouse works a minimum of thirty-two (32) hours per week and is eligible to participate in their employer’s group health plan enroll for such coverage. This includes medical, prescription drug, dental and vision care. 

Members should remember however, that this cost is partially refundable, but only if you submit a claim for reimbursement.  The claim form can be obtained at Local 1899’s Administrative Office (Labor Temple) or from the Company’s Benefits Office. 

To receive reimbursement, your spouse must pay heath care premiums in excess of $50 per month and their employer must contribute towards the cost of such coverage. Once you have submitted your claim, U. S. Steel will reimburse you for the monthly premium amount paid in access of $50 up to the maximum amount of $350. You may file for reimbursement on  a quarterly basis, if you’d like, but you cannot file later than June 30^th of the year following the year in which the premiums apply.  In addition to completing the claim form, your spouse will need to include a copy of a year-to-date pay stub showing the deducted health care premiums.  If your spouse’s premiums are deducted on a pre-tax basis, the premium reimbursement is taxable income to you and will be treated as such when it is paid. You will be notified by mail, normally three pay periods in advance, as to when you can expect your reimbursement to be included on your regular payroll check.  The reimbursement will be identified on your pay stub as either “SP INS REF TX” – indicating your refund was taxed – or “SP INS REF NT” – which indicates the refund was not taxed when paid to you.  This determination will depend on the information you provide to USS when completing the working spouse reimbursement claim form.

Filing for spousal insurance premium reimbursement can mean major savings in your family’s heath care costs.  Remember to file no later than June 30^th of this year for 2008 paid premiums.  If you have questions concerning insurance premium reimbursement call 618-452-1899.

 

 

 

IDES

Illinois Department of Employment Security

Link to the Illinois Department of Employment Security

PBGC

Pension Benefit Guaranty Corporation

Link to The Pension Benefit Guaranty Corporation; Click on Maximum Monthly Guarantee Tables BELOW:

 

US Steel Basic Labor Agreement

CLICK HERE FOR A MS WORD COPY OF THE CONTRACT