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President Gregory Floyd and the Welfare Fund Trustees are pleased to provide an enhanced benefit for our Group Term Life Insurance. Effective May 1, 2020, member life insurance benefits have been increased to $15,000 per member and to $5,000 for a dependent child. For detailed information regarding this enhanced benefit, please go to the links below for a short video presentation which explains the benefits in detail.
MetLife is our new insurance carrier for our Group Term Life policy. In addition to the Welfare Fund GTL for Active city employees MetLife is also offering supplemental life by way of payroll deduction. To enroll for supplemental benefits, go to www.metlife.com/mybenefits
The importance of naming a Life Insurance Beneficiary
By Mitch Goldberg
Director of the Welfare Fund
There are certain important topics that people feel uncomfortable discussing. At the top of this list is Life Insurance. The Welfare Fund provides for a Group Term Policy with MetLife Life. This benefit is paid to your designated beneficiary at the time of your death. The beneficiary may be any person of your choice. You can name a beneficiary by contacting the Fund office (212) 924-7220 and requesting a new enrollment form and completing the beneficiary designation portion of the enrollment form. In order to be in effect, your designation must be on file in the Fund office or with MetLife. If there is no designated beneficiary living at the time of your death, the Death Benefit will be paid to your estate. This creates a delay in payment and can be time consuming for the executor of your estate who must go to Surrogates Court to obtain the proper papers needed by MetLife Life before payment can be made. Life sometimes brings unexpected changes. Your personal situation may have changed due to divorce, death of your original beneficiary or you may simply want to name a new beneficiary. If you are unsure of who is listed as your beneficiary, we suggest you complete a new enrollment form or call MetLife.
The current benefit provided under our Group Term Policy is $15,000 should you the member die. The spousal benefit is $5,000 if your spouse passes before you. The dependent benefit is $5,000.
MetLife also offers Voluntary Benefits by payroll deduction for additional Life Insurance. If you require further information or clarification regarding this article, please call the Fund at (212) 924-7220. We are here to help.
Updated May 1, 2020
Free professional financial planning is available to all active Local 237 Welfare Fund participants. The program is administered by Stacey Braun Associates and provides access to qualified professionals, Certified Financial Planners, and Registered Investment Advisors to assist with:
Contact Stacey Braun Associates at (888) 949-1925 for a free consultation or more information
or log on to www.staceybraun.com
User ID: tl237
Password: money
How does a Retiree get benefit forms?
Call the Retiree Fund Office at (212) 924-7220 to request forms for optical, hearing aid or supplemental medical.
What must be done to add a new dependent?
The retiree must request and then fill out a new enrollment form and submit it along with a copy of the marriage certificate, birth certificate or domestic partner registration to the Fund Office. Call (212) 924-7220 for cards and additional information. The name of a spouse or other dependent will not appear on the Retirees' drug card until the new enrollment card is on file.
What happens if a Retiree has dental, optical or prescription expenses before his or her name appears on the eligibility listing?
Retirees should save all receipts for dental, optical and prescription expenses from the effective date of retirement, and submit them for reimbursement according to the Plan schedule of allowances after their name appears on the eligibility listing. Optical is only reimbursable for Retirees out of the metropolitan area.
How can a Retiree find out how much money has been used for prescriptions during the current year?
By calling Aetna Customer Service, at (855) 352-1599 or the Fund Office, at (212) 924-7220 can be contacted to obtain this information.
What should a Retiree do if he or she has not received a Drug Card and needs to have a prescription filled right away?
The Retiree can call the Fund Office, at (212) 924-7220 in order to get the prescription filled. The Fund will then request that a card be issued in the Retiree's name. This will take about 10 business days.
Why doesn't a Retiree's spouse or other dependent appear on the Drug Card?
The name of a spouse or other dependent will not appear on the Retiree's drug card until the new enrollment card is on file at the administrator's office. Call the Fund Office to request a new enrollment card.
Is there a prescription mail-away program for Retirees?
Yes. Call the Retiree Fund Office at (212) 924-7220 for further information or by calling Aetna Customer Service, at (855) 352-1599.
