Wednesday, February 19, 2025

Frequently Asked Questions


Health Care


Q.

Who is eligible to become a Participant in the Plan?

A.

Active Participants, Disabled Employees & Retirees, Retired Participants, Eligible Dependents, COBRA, Surviving Spouses

Q.

What if I don’t work enough hours to gain eligibility for the month?

A.

You may make self-payments for up to 12 months

Q.

How do I maintain my monthly Health Care coverage?

A.

By maintaining employer contributions  120 hours*hourly contribution rate

More...


Pension


Q.

How do I become a Participant in the Plan?

A.

Every Employee shall become a participant upon commencement of work in Covered Employment during a Plan Year


Q.

I am going through a divorce, what happens to my pension?

A.

If a portion of your benefit is to paid to a former Spouse, a Qualified Domestic Relations Order would have to be presented.  Once approved, at the time that you retire, your benefit will be adjusted accordingly


Q.

Does the Pension Plan affect Social Security benefits in any way?

A.

Social Security benefits do not have any effect on benefit payments that you receive from this plan

More...


Annuity


Q.

When do I become eligible for benefits?

A.

You are eligible when you work for an employer who is obligated to make contributions to the Fund


Q.

When can I start Participating in the Plan?

A.

As soon as you start to work in Covered Employment during a Plan Year, you will become a Participant in the Fund


Q.

What is a Plan Year?

A.

A Plan Year is the period as to which records are kept for Fund Administration.  The Plan Year is May 1 - April 30

More...


Savings

 

Q.

I understand my Deferred Savings money is transferred into a Credit Union account, what is the Credit Union’s address, telephone number and Website address?

A.

Local 520 U.A. Federal Credit Union

PO Box 6187

Harrisburg, PA 17112

(717) 545-9329, (888) 520-8228

www.local520fcu.org


Q.

When will my Deferred Savings money be transferred to my Credit Union account?

A.

Deferred Savings contributions are transferred to the Credit Union around the 25th of each month for contributions received on your behalf since the last transfer


Q.

How do I open an account with the Credit Union to receive my Deferred Savings plan money?

A.

Contact Local 520 U.A. Federal Credit Union to open an account

More...