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Automatic Payment Requirement for Retiree Welfare Coverage Premiums Effective July 1, 2016

Automatic Payment Requirement for Retiree Welfare Coverage Premiums Effective July 1, 2016

April 6, 2016

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Effective July 1, 2016, all Retirees will be required to pay their monthly premiums for Retiree Welfare coverage via an automatic payment. For those of you to whom this requirement applies, this notification should have already been received in the mail.

As stated in the mailing, there are two options for automatic payment: 1) A deduction from a pension check or, 2) A deduction from a personal bank account. If an affected Retiree is currently receiving a monthly pension benefit from the New York City District Council of Carpenters Pension Fund, we encourage them to authorize the Pension Fund to automatically deduct the Retiree Welfare premium from their pension check by simply completing the Pension Deduction Authorization form, which was included in the mailing.

However, if those affected are not currently receiving a monthly pension benefit, or do not wish to automatically deduct their Retiree Welfare premium from their pension check, they must authorize the Welfare Fund to automatically debit the Retiree premium from a personal bank account. To authorize automatic withdrawals from a personal bank account, affected Retirees must complete the Automatic Withdrawal Authorization form received in the mailing, and also include a voided check from the account with the form.

Please note that the Fund Office must receive a completed Pension Deduction Authorization form or Automatic Withdrawal Authorization form and a voided check from affected Retirees by no later than May 15, 2016, otherwise they will no longer be eligible for Retiree coverage under the Welfare Fund. Any affected Retiree who misses this due date will not be able to enroll in Welfare coverage again until January 1, 2017.

Additionally, affected Retirees should also note that since the automatic payment requirement will begin on July 1, 2016, they must continue paying the Retiree premiums due before then by sending a check or money order, along with the payment coupon to Chase Bank.

If there are any questions about the automatic payment enrollment process, please contact the Fund Office at (800) 529-FUND (3863).