November 4, 2017

2

Let’s Talk About Your Future!

33

Today’s Agenda

Introductions

Impact on Fringes

Stay Connected!

Break

Additional Information

Supplemental Life Insurance

Long Term Care Insurance

Social Security/Medicare

Questions?

44

Staff Introductions

5

Who We Are

The Fund Office is located on the District 1 campus

Responsible for collecting employer contributions and allocating to employee’s individual account

Fund Office staff responsible for your fringe benefits

As a self-insured entity, the Fund Office currently processes all medical claims

Dental claims are adjudicated by Delta Dental of Illinois

Pension department processes all pension applications

We partner with Fidelity to administer the Retirement Enhancement Fund

Fund Office issues Vacation Savings Fund checks

6

Fringe Benefits

Your employer is responsible for paying a specified dollar

amount for each fringe benefit included under your

collective bargaining agreement (CBA).

Take the time to read your CBA to become familiar

with the terms of your fringe benefits.

7

Fringe Benefits (continued)

Your CBA will outline what fringe benefits your employer pays which may include:

Welfare Fund

Pension Plan

Retiree Enhancement Fund (REF)

Retiree Welfare Plan (RWP)

Retiree Medical Saving Plan (RMSP)

Vacations Savings Fund (taxable earnings)

Operating Engineers Local 150 Apprenticeship Fund

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Whiteboard Video

9

1010

Folder Contents

11

Left Side of Folder:

Personalized Information:

Benefit Estimate at Normal Retirement Age

REF Contribution Statement, if applicable

Right Side of Folder: Retirement Checklist

Important Contacts & Websites

Electronic Consent Form

Disqualifying Employment/Suspension of Benefits Notice

Retiree Welfare Premium Rates 7/1/2017 through 6/30/2018

Folder Contents

12

Benefit Estimate at Normal Retirement Age

Optional forms of payment

13

REF Account Contributions

(1) Refer to the footnote on your Statement in your folder.

1414

MOE Fringe Benefits – Pension Fund

15

Provides a steady monthly income for life

Comes from a defined benefit plan

Based on a set formula and will be paid on a future date, on a monthly basis, for the member’s lifetime; as long as the member meets the eligibility requirements for the pension

What is a Pension?

16

October 2017 pension payments:

11,036 retirees

$25.9M in benefits each month!

The Power of Your Pension

17

Key concepts

Disability

Disqualifying Employment/Returning to Work After Retirement/Suspension of Benefits

Divorce

Death benefits

Pre-retirement death benefit

Post retirement lump sum death benefit

Post retirement surviving spouse benefit

Application Process

Additional Information

Pension Fund

1818

Pension Fund – Key Concepts

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Vesting Service Year/Vesting %

Vested Monthly Accrued Benefit

Types of Benefits Payable

Annuity Starting Date

Pension Types

Normal Retirement Age/Date

Early Retirement Age/Date

Benefit Options

Key Concepts

20

Vesting Service Year/Vesting %

Right to a benefit

500 Hours = 1 Vesting Service Year Per Plan Year (4/1- 3/31)

If you are continuing to work in Covered Employment and you have attained your NRA, you are 100% vested

Vesting Service Years Vesting Percentage

Less than 3 years None

3 years 20%

4 years 40%

5 years 60%

6 years 80%

7 years 100%

21

Vested Monthly Accrued Benefit

Your vested monthly accrued benefit is based on the following formula:

Employer Vested Monthly

Contributions x Multiplier x Vested % = Accrued Benefit

$279,570.82 total

22

Types of Pension Benefits

Types of Pension Benefits:

1. Monthly Pension Benefit (lifetime)2. Death Benefits

a. Pre-retirement death benefitb. Post retirement lump sum death benefitc. Post retirement surviving spouse benefit

Municipality Members: You will need to contact IMRF to receive your pension benefit information and estimate.

23

Annuity Starting Date (ASD)

The date you want your pension benefit to begin

Must meet the eligibility requirements for each pension type as of your ASD

No sooner than the first of the month following the signed application subject to the 30-Day Waiver Form

Pension must commence as of your Required Beginning Date:

The April 1 following the later of the Calendar Year (1) you turn age 70 ½ or (2) when you terminate Covered Employment

If you are a 5% owner, April 1 following the Calendar Year you turn 70 ½

24

Pension Types

Your vested monthly accrued benefit is payable when you meet the eligibility requirements for one of the pension types:

Normal

Early

Vested

Disability

25

Normal Retirement Age (NRA)

Generally upon

The accumulation of at least 10 Vesting Service Years and

The attainment of a specified age depending on when you first worked one Hour of Service in Covered Employment

If you do not have 10 Vesting Service Years, your NRA will be age 65 or later

1

Participation Date NRA

Before 04/01/2014 60

On or after 04/01/2014 61

On or after 04/01/2015 62

On or after 04/01/2016 63

On or after 04/01/2017 64

On or after 04/01/2018 65

Your Normal Retirement Date is

the first of the month coincident with or

immediately following your NRA

26

Based on the provisions of the Plan when the member terminates Covered Employment

Amount will be adjusted if you selected the 100% Pre-Retirement Surviving Spouse Coverage

Amount will be adjusted if you have a QDRO whereby a portion of your benefit is assigned to an Alternate Payee

Amount may be adjusted depending on the form of benefit you choose

If you retire after NRA, you may be due a post NRA adjustment, if you qualify

Normal Retirement Pension

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3.6% of all Employer Contributions made on your behalf before April 1, 2006; PLUS

3.0% of all Employer Contributions made on your behalf from April 1, 2006 through December 31, 2008; PLUS

2.0% of all Employer Contributions made on your behalf from January 1, 2009 through September 30, 2009; PLUS

1.5% of all Employer Contributions, excluding Supplemental Contributions, required to be made on your behalf between October 1, 2009 and September 30, 2013; PLUS

1.0% for all Employer Contributions, excluding Supplemental Contributions, required to be made on or after October 1, 2013

Normal Retirement Pension – Current Formula

28

Early Retirement Age (ERA)

Generally upon

The accumulation of at least 10 Vesting Service Years and

The attainment of a specified age depending on when you first worked one Hour of Service in Covered Employment

1

Participation Date ERA

Before 04/01/2014 55

On or after 04/01/2014 56

On or after 04/01/2015 57

On or after 04/01/2016 58

On or after 04/01/2017 59

On or after 04/01/2018 60

Your Early Retirement Date is

the first of the month coincident with or

immediately following your ERA

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Based on the Normal Retirement Pension which is determined based on the provisions of the Plan when the member terminates Covered Employment

Amount will be adjusted if you selected the 100% Pre-Retirement Surviving Spouse Coverage

Amount will be adjusted if you have a QDRO whereby a portion of your benefit is assigned to an Alternate Payee

Amount may be adjusted depending on the form of benefit you choose

Amount adjusted for early retirement

Reduction is 3% per year or 0.25% per month for each month prior to your NRA

Early Retirement Pension

30

Early Retirement Pension

Assume NRA is 60 and member wants to retire at age 55.

Early Retirement Reduction ($3,276.00 x 15%) is $491.40

Early Retirement Pension equals $3,276.00 - $491.40 = $2,784.60

31

Benefit Options

Normal Forms of Payment:

Single: 5 Year Certain & Life

Married: Joint & 50% Survivor

Optional Forms of Payment:

10 Year Certain & Life

Joint & 75 % / 100% Survivor

Joint & 50% / 75% / 100% Survivor with Pop-Up

Accelerated level income on all optional forms of payment

If you and your spouse elected one of the J&S options, subsequent

to your death, your spouse’s monthly benefit will be payable based

on the elected % and payable over your spouse’s lifetime.

Your benefit option

may not be changed

once you have

received your first

benefit payment.

32

Accelerated Level Income Option

In combination with one of the previously stated benefit options is the Accelerated Level Income Option. This benefit is integrated with your Social Security Award benefit.

SSNRA for Pension Plan purposes is the next whole age after your defined Social Security Normal Retirement Age

You will receive a higher benefit from your retirement up to your SSNRA

After you reach your SSNRA, your monthly benefit is reduced to take into account that you are now receiving a benefit from Social Security

As a result, you will receive a level benefit over your lifetime.

33

Accelerated Level Income Option

SSNRA

34

Benefit Estimate at Normal Retirement Age

Optional forms of payment

3535

Pension Fund – Disability

36

Disability Pension

Two types of Disability Pensions

All Disability Pensions are reviewed by a third party medical reviewer

Disability Pensions are reviewed by Level 1 Committee

If approved and member continues to be disabled, Disability Pension will cease upon member’s eligibility for an Early Retirement Pension (member must apply for Early Retirement Pension)

If denied reviewed by Review Panel

37

Must have 5 Vesting Service Years

You work in Covered Employment for a total of 900 hours in the 3 Plan Years prior to the Plan Year in which the disability occurred

Totally and permanently disabled from performing operating engineer duties

You were actively employed or seeking employment as an operating engineer at the time the disability occurred

Operating Engineers Total Disability Eligibility

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Operating Engineer Total Disability Pension

50% of your Accrued Benefit payable for a maximum of 5 years or, if

earlier, until you become eligible for an All Work Total Disability Pension

or until your Early Retirement Date

Example 1:

Member Age 45, Accrued Benefit is $3,000/month

Operating Engineer Total Disability Pension

$3,000 x 50% = $1,500/month payable for 5 years

Example 2:

Member is age 53 with 10 Vesting Service Years, Accrued Benefit is

$4,000/month

Operating Engineer Total Disability Pension is $2,000/month payable

until age 55 (Early Retirement Date)

Member must apply for Early Retirement Pension

39

Must have 5 Vesting Service Years

You work in Covered Employment for a total of 900 hours in the 3 Plan Years prior to the Plan Year in which the disability occurred

Totally and permanently disabled from performing any job

You were actively employed or seeking employment as an operating engineer at the time the disability occurred

You are granted a Social Security Disability Award

All Work Total Disability Eligibility

40

All Work Total Disability Pension

70% of your Accrued Benefit payable until your Early

Retirement Date.

Example:

Member Age 45, Accrued Benefit is $3,000/month

All Work Total Disability Pension

$3,000 x 70% = $2,100/month payable until age 55 (Early

Retirement Date

Member must apply for Early Retirement Pension

4141

Pension Fund – Disqualifying Employment Return to Work after RetirementSuspension of Benefits

42

Disqualifying Employment

Upon completing your application to retire, you must sign

the Retirement Declaration indicating that you will not

work in Disqualifying Employment.

There are specific Plan rules surrounding what is

considered Disqualifying Employment:

• depends on your age

• amount of hours you will work

• type of work you will be doing

If you are working in Disqualifying Employment, your

monthly pension benefit will be suspended

• If you received a monthly benefit and it is later

determined you were overpaid, you will be required to

repay the overpayment.

43

Returning to Work After Retirement

Its critical that you contact the Pension Department and

provide what type of work you will be doing and how many

hours per month you will be working

Be sure you understand Dispatch/Hiring Hall Rules which

are not the same as the Pension Plan document rules

• You must be on the out-of-work list and be dispatched

• If you are called out of retirement to work a special piece of

equipment, you may fall under the Temporary Waiver of

Suspension Rules

• Ask questions!

44

Age at Rehire

Hours/Month

Type of Work Are You Suspended?

57 120 Paver Yes

61 45 Dozer Yes

58 120 Sells Insurance No

62 120 Dispatch contacted you to come back to work as a

Crane Operator

No – Temp. Waiver

65 35 Slag No

Member Retired and Returns to Work

Assumes member retired with over 10 Vesting Service Years

Assumes ERA is 55 and NRA is 60

45

If you return to work and become eligible under the MOE Health Plan Marketplace, the Fund Office will send a form for you to decide whether you want to return to active coverage or remain under the RWP

If you want to remain under the RWP, you will forfeit your credits allocated to the Credit Bank for the entire Plan Year

If you regain eligibility under the active Welfare Fund and you do not want to forfeit your credits, you will remain under the Active Plan and you will no longer have your premiums deducted from your RMSP or pension check

If your benefit is suspended and if you are eligible under the RWP, you are only allowed to return to work only one time without affecting your RWP eligibility

If your benefit is suspended and if you return to work a second time, you are no longer eligible for the RWP

Returning To Work – Impact on RWP

46

Suspension of Benefits

Where applicable, the Pension Department will send out an annual Suspension of Benefits Notice

If you qualify under the Temporary Waiver, you can work as many hours as you want and continue to receive your monthly pension benefit

• If you work over 500 hours in a Plan Year, your benefit will be recalculated each April 1

• There is no guarantee that you will be called back to work under the Temporary Waiver

If you don’t qualify under the Temporary Waiver and your benefit is suspended, your benefit will be recalculated on your next retirement date

• Your new benefit will never be less than what you previously received

4747

Pension Fund - Divorce

48

What is a QDRO?

A QDRO is a qualified domestic relations order, which assigns a portion of your monthly pension benefit to an Alternate Payee.

An Alternate Payee can be an ex-spouse or child(ren).

The Order must be qualified by the Administrator and filed in court to be valid.

Two types of QDROs• Separate • Shared

49

Divorce – What to Do?

Update your Beneficiary for all your fringes!

Request a model QDRO

Upon retirement, you must submit your divorce

decree, marital settlement, and QDRO

• Your pension benefit will be reduced to take into

account the benefits assigned to your Alternate

Payee

If you get divorced after you retire, contact the

Pension Department regarding model QDRO and

impact on pension benefit

5050

Pension Fund – Death Benefits

51

100% Pre-Retirement Surviving Spouse Coverage

You can elect to additional “insurance” coverage by

electing 100% Pre-Retirement Surviving Spouse Annuity

coverage

The Pension Department will notify you of this coverage (you can elect or reject)

Additional cost of 1/24 of 1% for each month of coverage up to your retirement or death

If you die, Spouse Benefit 100% portion of the Joint & 100% Survivor Annuity and not based on the automatic 50% Surviving Spouse coverage

Your monthly pension benefit will be reduced to reflect the cost of this additional “insurance” coverage

52

Cost for 100% Pre-Retirement Surviving Spouse Coverage

Additional cost of 1/24 of 1% for each month of coverage up to your retirement or death:

Your monthly pension benefit will be reduced to reflect the cost of this additional “insurance” coverage.

53

At age 55 member elects coverage

Member dies at age 60 and spouse is also age 60

Member’s monthly accrued benefit at age 60 is $2,000

Cost of coverage for 5 years: 2.5% x $2,000 = $50

Member’s monthly accrued benefit is reduced to $1,950

Reduced for 100% J&S optional form to $1,600

Benefit paid to Surviving Spouse is 100% of $1,600

If no coverage, the $2,000 benefit reduced for 50% J&S optional form $1,800 per month. Surviving Spouse would have received 50% of $1,800 or $900

Ex. – Elects Coverage and Died Before Pension Started

54

Pre-Retirement Death Benefit

For payment of Pre-Retirement Death Benefit, if you do not have a named Beneficiary on file, the following order will be followed:

If married: Spouse

If not married: Natural or legally adopted children, in equal shares Your parents, in equal shares Natural or legally adopted siblings, in equal shares Estate

Please be sure to update your beneficiary when you marry, divorce, or experience any other Life Event changes.

55

Pre-Retirement Death Benefit

If you: Have at least 3 Vesting Service Years Die prior to retirement

Your Spouse (or if single, your named Beneficiary) will receive a Pre-Retirement Death Benefit.

Spouse Benefit 50% portion of the Joint & 50% Survivor Annuity unless the member elected the 100% Pre-Retirement Surviving Spouse Coverage

Beneficiary Benefit 5 year certain benefit

Other forms of payment may be available such as a lump sum.

56

Post Retirement Lump Sum Death Benefit

$10,000 lump sum death benefit will be payable to your named Beneficiary if:

You have 10 Vesting Service Years AND

You work 500 hours in Covered Employment in the Plan Year before retirement or the Plan Year of retirement

57

Post Retirement Death Benefit

Single Participant

• Your beneficiary will receive any remaining guaranteedpayments under either the 5 or 10 Year Certain & Life

Married Participant

• Your surviving spouse will continue to receive her surviving spouse portion (i.e. 50%, 75% or 100%) for lifetime.

NOTE: If the Participant or Surviving Spouse should die, theParticipant’s named beneficiary may still get a monthly benefituntil the total payments equal the Employer Contributions paidin on the Participant’s behalf.

5858

Pension Fund – Application Process

59

You should start the process no earlier than 180 days prior to

your Annuity Starting Date

Example: Joe Dozer wants to start receiving his first monthly

pension check on July 1, 2018

Request application from Pension Department on or after

January 1, 2018

You will need to start gathering important documents (birth

certificates, marriage certificate, divorce decrees (if applicable),

etc.)

When to Apply?

60

Once you have selected an Annuity Starting Date:

Call the Pension Department to request an Application Packet and a Benefit Estimate

You and your spouse, if applicable, must complete as much of the Application Packet as possible

Start gathering all the important documents

Schedule an appointment with a Pension Representative to:

Review completed forms

Answer questions

On the day of your appointment, you will meet with the next available Pension Representative

Use the Retirement Checklist

6161

Pension Fund – Additional Information

62

Under PPA’06, Plan sponsors must actively monitor the Plan’s Funded Status.

Based on these measures, Plans are then categorized as:

Critical - Red Zone

Endangered – Yellow Zone

Neither Critical Nor Endangered – Green Zone

Plan’s Funded Status

63

Each year the Plan’s Actuary has to certify the Plan’s Funded Status and you will receive a required annual notice.

For the 2016/2017 Plan Year, the funded percentage was 74.6%

The Pension Fund certified as Yellow Zone since the funded percentage is less than 80%

The Trustees have a Funding Improvement Plan in place requiring a portion of the Employer Contributions as “Supplemental Contributions” to assist with funding the Plan but these contributions are not used in determining your monthly pension benefit

Trustees are actively seeking ways to return the Plan to the Green Zone

Plan’s Funded Status

64

Your monthly pension benefit is subject to taxes:

If you do not complete Form W-4P, default is married with 3 allowances (i.e. tax withheld if pension is at least $1,720/month for 2017)

After you retire, you can update your Form W-4P at any time

Lump sum distributions are subject to the Rollover Rules

Speak with a tax advisor!

Taxes

State Federal Tax (Form W-4P)

State Tax

Illinois Yes NO

Indiana Yes Yes

Iowa Yes Yes but there are exclusions

Wisconsin Yes Yes

6565

MOE Fringe Benefits – MOE Health Plan Marketplace

66

Eligible Members of the MOE Health Plan Marketplace

The Open Enrollment period prior to your retirement date

will be VERY important

This is the last opportunity to transfer credits from your

Credit Bank to your Retiree Medical Savings Plan (RMSP)

account

When are you retiring?

67

When is Open Enrollment?

January 15, 2018 – February 28, 2018For example:If you are retiring June 1, 2018, you can only transfer credits during the Open Enrollment period as shown above.

If you don’t transfer enough credits, you will use them under the Marketplace for active coverage before you go to the Retiree Welfare Plan, if eligible.

It is extremely important that you meet with a Navigator and/or a Pension Representative during the Open Enrollment period, prior to your selected Annuity Starting Date, to discuss how many credits you should transfer to your RMSP account

68

What Is RMSP? Retiree Medical Savings Plan

If you transfer credits to your RMSP account before you retire, you’ll be able to use your RMSP account toward self-payment premiums for the Retiree Welfare Plan (RWP), if you are eligible, or other qualified medical expenses, once you retire.

What Else Can RMSP Be Used For?

– Tax-qualified long term care insurance premiums

– Tax-qualified nursing care expenses

– Premiums for another group healthcare plan

– Your deductibles and co-pays under another group healthcare plan

– Medicare Part B premiums

– Medicare Advantage Plan

– Medicare Part D (prescription drug) plan premium (MOE Staff Discuss)

– Medicare supplement (“Medigap”)

– Premiums for a tax-qualified long-term care insurance policy

– Qualified nursing home expenses

– Qualified home health care and hospice care expenses.

69

Transfer Credits to RMSP

Who is eligible to transfer credits?

Must be age 55, turning age 55, or retiring in the

2018/2019 Plan Year

When will transfer occur?

Transfer will take place on March 31, 2018

Only one opportunity during each Open Enrollment

period to elect to transfer credits

You cannot move them back to your Credit Bank once

the election is made

70

RECAP: Why You May Want to Transfer Credits to RMSP

Credits in your RMSP account can be used toward self-payment premiums for Retiree Welfare Plan (RWP) or other qualified medical expenses (i.e. other group health plan coverage) which may be less costly than the MOE Health Plan Marketplace credit costs

RMSP account earns 4% investment yield each year

The Open Enrollment period prior to your retirement effective date is extremely important meet with the Fund Office staff to discuss your options

At retirement, any remaining credits in Credit Bank can only be used to “run out” active eligibility

71

Transfer Credits to RMSP Account

72

Transfer Credits to RMSP Account

73

How a Member’s Credit Bank Impacts Retirement

Age/Service as of

1/1/2011

Estimated Retiree

Premium (per person)

Total RWP Premium

(1)

Available Amount

Transferred to RMSP

(2)

Extended Coverage

under RWP

(2)/(1)

50-54 $214.20 $428.40 10,000 ̴ 23 months

Active coverage only extended by 7 months (10,000/1,290) versus 23 months under the RWP

If elected, monthly pension benefit will not be decreased to cover cost of monthly retiree health & welfare premium until RMSP is exhausted

Active member plus spouse, Plan A PPO, 1,290 credit cost deduction

Age 60 as of 9/1/2018 with 30 years of service at retirement

Able to transfer 10,000 credits to RMSP during Open Enrollment period

7474

MOE Fringe Benefits – Retiree Welfare Plan (RWP)

75

RWP Eligibility

In order to be eligible, you must:

Be least age 55 and retired from active employment and

Receiving a Normal, Early or Disability benefit from the MOE Pension Plan

Have at least 10 Vesting Service Years in the MOE Pension Plan

Have been covered at least 10 years under the MOE Welfare Plan

Receiving Employer Contributions for Active Welfare Plan coverage in the 12 months before retirement

76

RWP – Municipality Eligibility

You are receiving a benefit under the Illinois Municipality Retirement Fund (IMRF) including disability

Have at least 10 Years under IMRF

May be deemed to have been covered at least 10 years under the MOE Welfare Plan pending certain requirements

77

Important Retiree Eligibility Rules

Failure to pay your premium on time will result in

permanent loss of coverage

If you are a retired participant, the coverage can

be deducted automatically from your monthly

pension benefit and/or from your Retiree Medical

Savings Plan (RMSP) account

If you deduct from RMSP account, once that

account is depleted, then it will be deducted from

your monthly pension benefit

78

Retiree Welfare Plan Grandfathered Plan not require to be ACA mandated

Plan Year is January 1 – December 31

Benefits are similar to Plan A

• Individual Deductible: $300

• Family Deductible: $700

• Coinsurance: 90%/10% (in-network)

80%/20% (out-of-network)

• Routine Coverage: 100% up to $350 maximum benefit

• Annual Maximum: $2,000,000

• Out-of-Pocket Expense

(including deductible): $2,500 per individual

$6,000 per family

• Rx Maximum: $30,000 per person (same tiers as Plan A)

If you enroll in Medicare Part D (Drug Program), you will NOT receive MOE’s prescription drug program

79

Retiree Welfare Plan continued

Please note, even though you may have met the deductible under the active plan, it will not carried over to the RWP

You will have a fresh set of deductibles under the RWP Plan regardless of when you retire

80

This information is located in your

folder (right pocket)

81

Once Eligible Under the RWP

You will receive:

Summary Plan Description

Benefit Summary of Plan details

New medical ID card

New vendor card

Information on your RWP premiums

8282

MOE Fringe Benefits – Retirement Enhancement Fund (REF)

83

Retirement Enhancement Fund (REF)

This fringe benefit is another means of supplementing your future retirement benefits

Fidelity Investments is the current record keeper and administers the benefits

You were automatically enrolled into the REF, if applicable

Contributions will be made by your employer, on a pre-tax basis, to an account in your name

84

REF Account Contributions

The personalize statement does not reflect any gains/losses on your account

The REF contributions are Employer Contributions contributed through the work month shown

Review Quarterly Statement & your My150 account

85

REF To Do List

Review your account information, visit NetBenefits.com/atwork

Review your asset allocation• Contributions are defaulted into one of the Fidelity Freedom

Funds (age based funds)• Your account grows with additional employer contributions

and investment income• Important to diversify• Valued daily

Ensure your beneficiaries are up to date

86

After you retire at Early or Normal Retirement Age

After you have gone 12 consecutive months without employer contributions

The member’s Required Beginning Date

Dies

When Can You Access Your Account?

87

You are not required to take a distribution until your Required Beginning Date so you can leave your account as is, if desired

A single lump sum payment – subject to direct rollover rules

Recurring monthly installments

Specific dollar amount – can change every Calendar Year

NOTE: If you are divorced and you have a QDRO, you must submit to the Pension Department which will be forwarded to Fidelity to adjust your account to reflect benefits permanently assigned to an Alternate Payee

If you have a pending divorce, contact the Pension Department to request information regarding a model Order

Forms of Payment

88

REF Resources

Fidelity Resources• Webcasts• Workshops• Online planning tools• Call center• Download mobile app

www.moefunds.com

8989

Stay Connected!!

90

Stay Connected!!

Fund Office Website and Your Advocates

My150 Community

Operators’ Health Center/MinuteClinic™

Retirees’ Club

Attend Meetings!!

9191

www.moefunds.com

92

93

Get to Know Your Advocates

Michelle Fudala:Information Manager & My150

Advocate

Tracy Biela:Pharmacy Department Manager

& Pharmacy Advocate

Kerry McMahon:Member Advocate

9494

My150 Community (www.My150.com)

Don’t miss out – Get Registered Today!

95

My150 Community – Everything Local 150!

Review your profile

• Update your address/dependents

Establish your PHI- PIN

Review your My HOURS

Retiree can also pay dues on-line

Frequently Asked Questions – get answers quick!

Create My CASES, 24/7

Digital image of your medical and vendor card

Change your

contact

information and

address without

needing to go

into the Fund

Office or Local

150

Review Your Profile

Click My Profile

Click My Family

Establish Your PHI - PIN

Review My HOURS

Actives Can Pay Your Dues On-Line

Retiress Can Also Pay Dues On-Line

FAQ

My CASES 24/7 Access

103

Saves the Fringe Benefit Funds $$$ if we can send via email versus snail mail

You receive information faster

By providing consent, you will receive all annual notices and disclosures electronically for all fringes

Coming Soon….Explanation of Benefits (EOBs) will be available on your My150 account

Importance of Electronic Consent

Complete your Electronic Consent form TODAY and drop

off at the My150 table!

104104

Operators’ Health Center/MinuteClinic™

105

New Medical Director – Dr. Casaclang

105

106

How to Make an Appointment

Visit or call the OHC at 708.485.CARE OHC Patient Portal

107

Hours of Operation

Monday-Wednesday and Friday: 9am - 5pmThursday: 10am - 7pmSaturday: 8am - Noon Tuesday & Saturday: 7am – 9am (Lab Blood Draws)*Last Appointments always taken 1 hour prior to closing

108

Services Offered

Services covered under your Plan and performed at the OHC are free!

Types of Services Offered: Annual/School physicals Acute/Urgent Care Flu shots, immunizations and vaccinations Allergy Management Clinical laboratory Services Disease/Condition management Patient Education

109

OHC Patient Portal -myhealthcenterhome.com/sites/ohc

Manage your account details View visit history and lab results View and schedule appointments online Send secure messages to your provider View location and hours of operation

110

COMING SOON….2018!

111

OHC – Savings for the Welfare Fund!

Building Better Health Annual physicals Immunizations Disease/Condition Management Avoided ER visits Avoided Inpatient Care visits Avoided Specialists visits Cost savings for our Medicare eligible

members/dependents

112

OHC – Upcoming Events

Schedule appointment for FREE flu shot OHC staff will be available for flu shots at select Health

Fair locations: 11/11/2017 – District 1 11/18/2017 – District 7 12/2/2017 – District 5

Shingle/pneumonia shots available subject to a provider visit to ensure you meet the requirements to receive

November – Men’s Health Raffle prizes for any appointments during November

December – Stress Management January 2018 – New Year, New You

Schedule annual physical in January during off season!

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All eligible members/dependents/retireesEffective 4/1/2017 Most services are free but

there are some cash pay services Visit www.minuteclinic.com or

www.moefunds.com regarding the services available and the cash-pay services

If you do not have a primary medical home, you will be referred back to the OHC

Bring medical card and vendor card

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Retirees’ Club

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Retirees’ Club

Benefits Stay connected with operators

Monthly newsletter/Local 150 Engineer

New friends

Lots of activities

Events Monthly Luncheons

Dinner & Theatre Nights

Casino Trips

Much more…..

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Attend Meetings

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Stay Informed

District Office Meetings

General Membership Meetings

Fund Office Events

• Know Your Union – new members

• Health Fairs/Open Enrollment Events – active hourly members of the MOE Health Plan Marketplace

• Pre-retirement Seminars – nearing retirement

Review your My150 account as you near retirement to ensure:

• Your hours are up to date

• Aware of your remaining Credit Bank, if applicable

• Total RMSP account

• Vacation Savings account total

Continue to visit www.moefunds.com

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District 1 – Union Hall(Districts 1,2,3)

District 5 – Union Hall(Districts 4,5,8)

District 7 – St. Elijah(District 6,7)

11/11/2017 (flu shots) 12/2/2017 (flu shots) 11/18/2017 (flu shots)

1/6/2018 1/13/2018 12/9/2017

Health Fairs – Presentation at 9 a.m.

Important information pertaining to the MOE Health Plan

Marketplace for the upcoming 2018/2019 Plan Year:

Hear about a NEW health plan option

Discuss monthly credit costs associated with each health plan

option

Provide information on enhancements and new benefits for the

upcoming Plan Year

BE SURE TO REGISTER FOR AN EVENT:

http://tinyurl.com/MOEHealthFairs2018 OR www.moefunds.com

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Meet with a navigator 8 a.m. – 2 p.m.

Assist with My150 Community Website registration if you are notalready registered

Meet with Pension Department staff to discuss transferring creditsto your Retiree Medical Savings Plan, if eligible

Complete the enrollment process and confirm your health planoption selection!

Open Enrollment guides will be mailed in January – PLEASEREAD!!

Open Enrollment – 1/15/2018 – 2/28/2018

District 1 – Union Hall(Districts 1,2,3)

District 5 – Union Hall(Districts 4,5,8)

District 7 – St. Elijah(District 6,7)

1/20/2018 1/27/2018 2/3/2018

2/10/2018 2/17/2018 2/24/2018

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MOE Fringe Benefits – Supplemental Life Insurance

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Supplemental Life Insurance - Overview

The Hartford solely administers this benefit

This benefit is a supplement to your Plan’s Basic Death Benefit, if applicable

Both the Basic Death Benefit and the Supplemental Life Insurance is a tax-free benefit

Members had two opportunities to enroll into The Hartford’s Supplement Life Insurance with a “no questions asked” Open Enrollment

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Supplemental Life Insurance

Members can select:

Up to $150,000 in Supplemental Life Insurance for themselves

Spousal coverage for $25,000

Child(ren) coverage for $10,000

Monthly premiums automatically deducted from bank account

If members missed the Open Enrollment, they can always enroll but will need to complete an Evidence of Insurability questionnaire

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Supplemental Life Insurance

If you elected Supplemental Life Insurance through The Hartford:

As an active eligible members, monthly premiums are subject to increase when you change age bands

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Reduced Coverage if Working Past Age 65

Member is age 64 when he enrolled in coverage for $150,000. At age 65, coverage is reduced by 35% to $97,500. Member’s monthly premium will be adjusted. The lost coverage of $52,500 can convert to a whole life policy.

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Upon Retirement – Portability/Conversion

All coverage under the Supplement Life Insurance policy will cancel.

Member can port/convert coverage at retirement.

Portability – Only available to members who lose coverage and are under Social Security Normal Retirement Age

Conversion – Only available to members who lose coverage and no age limitations

Port/Convert policies do not require Evidence of Insurability

Port/Convert rates are subject to change without notice

The Hartford will provide you information regarding these available options. Notice of Continuation is time sensitive.

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MOE Fringe Benefits – Long Term Care Insurance

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Long Term Care (LTC) Insurance – Effective 4/1/2018

Health and disability insurance do not cover these expenses

Medicare not the answer either

Generally an out-of-pocket expense to pay for nursing home care

LTC Insurance will help protect your retirement savings

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Long Term Care (LTC) Insurance – Effective 4/1/2018

100% Employee Funded

Total benefit available to pay for care each month

Includes inflation protection

Voluntary program to select while you are an Active member

Tax consequences

Don’t itemize deductions – no premium deduction available

Itemize deductions – see tax advice on handling

Reimbursed benefits are not included in income

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Social Security/Medicare

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Social Security – www.ssa.gov

If you are applying for an All Work Total Disability Pension you must qualify for Social Security Disability Award. This information must be submitted with your All Work Total Disability Pension application.

• For more information visit www.ssa.gov/disabilityssi/

If you are wanting to elect the Accelerated Level Income Pension options, you must submit your Social Security Benefit Estimate

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Medicare Coverage – www.medicare.gov

Medicare Coverage includes:

• Part A

• Part B

• Part C

• Part D

• Supplemental Medigap

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Medicare Coverage – Part A

Part A – Generally covers

Inpatient Hospital Care

Skilled Nursing Facility Care

Home Health Care

Hospice

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Medicare Coverage – Part B

Part B – Generally covers

Doctors’ Services

Outpatient Medical & Surgical Services

Lab Testing

Durable Medical Equipment

Preventive Services – Health care to prevent illness (like the flu)

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Medicare Coverage – Part C Advantage Plan

Part C Advantage Plan – Generally covers

Combines the coverage of Part A and Part B

Sometimes includes Part D

May have additional services for dental, hearing, visions and gym memberships

Additional Information:

Must have Part A and Part B to enroll

IMPORTANT NOTE: If a participant enrolls into Part C Advantage Plan, there will be no benefits payable under the Retiree Welfare Plan

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Medicare Coverage – Supplemental Medigap

Medicare Supplement Insurance Policies

Sold by private insurance companies

Fills in the “gaps” of what is not covered under Original Medicare

Some policies offer coverage outside of the U.S.

Additional Information:

Must have Part A and Part B to enroll

This is different than the Medicare Part C Advantage Plan

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Medicare Coverage – Part D (Drug Program)

Drug plans approved by Medicare

Sold by private insurance companies

Plans vary in deductibles and co-pays

Additional Information:

Must have Part A and/or Part B to enroll

IMPORTANT NOTE: If you take Medicare Part D (Drug Program), you will be dis-enrolled from prescription drug coverage under the Retiree Welfare Plan

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What Medicare Doesn’t Cover

Long-term Care

Dental (including Dentures)

Cosmetic surgery

Acupuncture

Eye exams related to prescribing glasses

Hearing aids or exams for fitting them

Routine foot care

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Coordination of Benefits

In general, Medicare will be secondary and the active plan will be primary if member is still active

If you are delaying Medicare Part B during your initial enrollment period due to having active coverage, the following form from Medicare needs to be submitted to the Fund Office for completion once you are ready to enroll:

CMS-L564

In general, Medicare will be primary and the retiree plan will be secondary once the member retires

You must take Medicare Part A and Part B

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Questions?

We’re here to make the rest of your life the BEST of your life!