To view your personal Annuity information for self-directed (Part D/Part E) Register an account at Milliman here.




IMPORTANT UPDATES

REGISTER AN ACCOUNT AND LOGIN TO SUBMIT FORMS ELECTRONICALLY AND ACCESS THE FOLLOWING:

-Health Fund Hour Bank Detail

-Pension Hours and Credits

FORMS


Application for Benefits (PART B/242)

To apply for your pension, you will need to complete this application. Please complete the forms and mail along with any noted documentation to the Fund Office.

Application for Benefits (PART C/294)

To apply for your pension, you will need to complete this application. Please complete the forms and mail along with any noted documentation to the Fund Office.

Application for Hardship Distribution Form - Local 242

To apply for a hardship withdrawal from Parts B or C due to medical expenses or to prevent eviction or foreclosure of the participant’s primary residence, complete this form and return it to the Fund Office. Please note you must also include the proper documentation to support the hardship for which you are applying. The type of documentation required by the plan is listed on the application. For an application from Parts D or E, go to https://www.millimanbenefits.com or contact the Fund Office.

Application for Hardship Distribution Form - Local 294

To apply for a hardship withdrawal from Parts B or C due to medical expenses or to prevent eviction or foreclosure of the participant’s primary residence, complete this form and return it to the Fund Office. Please note you must also include the proper documentation to support the hardship for which you are applying. The type of documentation required by the plan is listed on the application. For an application from Parts D or E, go to https://www.millimanbenefits.com or contact the Fund Office.

Change of Address Form

Complete this form to change or correct your mailing address and/or name, and return it to the Fund Office.

Change of Name Form

Complete this form to change or correct your mailing address and/or name, and return it to the Fund Office.

Beneficiary Designation Form

To designate a beneficiary for your account, you must fill out this form and return it to the Fund Office.

Balance Transfer Form

To transfer your balance between the self-directed account and the Trustee-directed account, or to change where your future contributions are invested, you must fill out this form and return it to the Fund Office.

Direct Deposit Form

To sign up for direct deposit, complete this form and return it to the Fund Office.

Out of Jurisdiction Letter & Election Form

Click here to view/download the Out of Jurisdiction Letter & Election Form.

PLAN DOCUMENTS & NOTICES


Summary Plan Description (SPD)

View the full Summary Plan Description that explains the Plan benefits available to you and your family.

Summary of Material Modifications (SMM)
SMM#1 Age 59.5 Distribution


Summary of Material Modifications (SMM)
SMM#6 Benefit Credit Increase and 2020 Retiree Return to Work


Summary of Material Modifications (SMM)
SMM#7 COVID-Related Distributions $25k


Summary of Material Modifications (SMM)
SMM#7b COVID-Related Distributions $75k


Summary of Material Modifications (SMM)
SMM#9 Minimum Installment Change


Summary of Material Modifications (SMM)
SMM#10 Monthly Valuation Change


Summary Annual Report (SAR) Part B

The SAR provides basic financial information regarding the Plan and informs you of your rights to additional information.

Summary Annual Report (SAR) Part C

The SAR provides basic financial information regarding the Plan and informs you of your rights to additional information.

FREQUENTLY ASKED QUESTIONS

There is no difference, these names all reference the same plan. The Supplemental Pension Plan is a defined contribution plan that is often referred to as the “annuity” or Pension Part B (Local 242) or Part C (Local 294). This is an individual retirement account that provides supplemental income to the traditional Part A pension benefit at retirement.
The IBEW Local 242 Supplemental Pension Plan provides you with the option to have the Trustees invest the contributions on your behalf (Part B) or you may self-direct how the contributions are invested (Part D).

The IBEW Local 294 Supplemental Pension Plan provides you with the option to have the Trustees invest the contributions on your behalf (Part C) or you may self-direct how the contributions are invested (Part E).
Participating employers make contributions to the plan for each hour of IBEW Local 242 or IBEW Local 294 jurisdiction. The amount is determined under an agreement with IBEW Local 242 or IBEW Local 294.

Your Individual Account in this Plan is funded by employer contributions. Your employer contributes a certain dollar amount for each hour you work. The amount of hourly contribution is specified in your collective bargaining agreement, participation agreement, or other written agreement with the Trustees of the Plan.

You are vested in all amounts credited to your account regardless of your years of employment.
To change your self-directed investment allocation (Parts D and E) you will need to contact Milliman, the Fund Recordkeeper, either by phone at (866) 292-2806 or online.
You are eligible for payment of your Accounts upon:
  • • You reach age 55 and retire from employment with a contributing employer;
  • • You are age 59 ½
  • • You become totally and permanently disabled as evidenced by a written certification from a physician acceptable to the Trustees.
  • • You are no longer employed in the electrical trade or craft within the jurisdiction of the Local Union and:
    1. You are no longer a member of Local 242 or Local 294 and no contributions have been received by the Fund for 36 months; or
    2. You were not a member of the Local, are no longer registered for employment and no contributions have been received by the Fund for three months; or
    3. You have entered the armed services.
  • • You are eligible for a hardship distribution
  • • You die


For further information, please refer to your Summary Plan Description or contact the Fund Office.
The plan does not provide loans.

In certain circumstances you can request a hardship distribution from your account. To be eligible for a hardship distribution, you must experience a financial hardship which is defined as an immediate and heavy financial need to pay for one of the following:
  • • Expenses in excess of $5,000 for (1) medical care previously incurred by, or necessary to obtain medical care for you, your spouse or dependents, or (2) expenses necessary for you, your spouse or dependents to obtain medical care
  • • Payments to prevent eviction from your principal residence, or foreclosure on a mortgage on that property.
  • • Monthly self-pay contributions to the Electrical Workers Health and Welfare Fund.
The payment you receive from the plan will be subject to mandatory withholding of 20% for federal income taxes. You can avoid mandatory withholding only if you arrange to have your benefit transferred directly to an IRA or an eligible retirement plan. If you would like to have more than 20% federal tax withheld or state tax withheld, you must complete a Tax Withholding Form.
In order to change your mailing address, you must complete a Change of Address Form. You may print and complete the form, or you may contact the Fund Office and a form will be mailed to you.
Complete a Beneficiary Designation Form and mail to the Fund Office.
If you have any questions about your eligibility, benefits or claims, contact the Fund Office at (218) 724-8883 or (877)908-3863.

LIFE EVENTS

Birth or Adoption

You can select a beneficiary by filing an approved form with the Fund Office. You may change or revoke your beneficiary at any time by filing a new form. To be effective, your form must be received by the plan office during your lifetime.

Marriage

You can select a beneficiary by filing an approved form with the Fund Office. You may change or revoke your beneficiary at any time by filing a new form. To be effective, your form must be received by the plan office during your lifetime.

If you are married, you are subject to some special rules. In general, your spouse must be your beneficiary. If you wish to designate someone else as beneficiary (including a trust for your spouse), your spouse must consent to the different beneficiary. Your spouse’s consent must be in writing and must be notarized or witnessed by a notary public or a plan representative. The only exception is under certain circumstances where the consent cannot be obtained, such as where a spouse cannot be located.

A spouse is a person to whom you are considered married under applicable law including a same-sex spouse to whom the Participant is considered married under the law of the state in which the marriage celebration occurred.

If your marital status changes, you should always update your beneficiary form.

Disability Benefit

You are eligible for payment of your Accounts upon receipt of a Social Security disability award. When you become eligible and want to receive payment, you must file an application form. Please contact the Fund Office for that form.

Moving

Did you recently move? Please complete a Change of Address Form.

Divorce

In the event of divorce, your former spouse may have a right to receive some portion of your Account directly from the Plan. Please contact the Fund Office for more information. If you need to file a QDRO (Qualified Domestic Relations Order), a model QDRO can be found here.

Retirement

You are eligible for payment of your Account upon:
• Reaching age 55 and retire from employment with a contributing employer

To apply for a withdrawal, you will need to complete an application at millimanbenefits.com or you may apply by contacting the Fund Office. For further information, please refer to your Summary Plan Description or contact the Fund Office.

Death

If you die, the unpaid balance of your Accounts will be paid in a lump sum to your beneficiary.

SERVICE PROVIDERS

Milliman
For self-directed accounts “Part D” and “Part E”, you may access your account, make investment changes, view statements, apply for distributions or access financial tools by visiting millimanbenefits.com and select Create an Account.

Channel Financial
If you have questions regarding investments or your overall financial picture, contact a Channel Financial Team member at 877-333-7535. Channel also offers debt counseling through LSS at no cost to you, click here for more information.