PBGC Policy Change Information

May 21, 2021 Admin 0

May 20, 2021

We recently became aware of a change in the Pension Benefit Guarantee Corp (PBGC) policy regarding payment of retiree benefits. In the past, employees had to be retired in order to collect benefits from any plan terminated by the employer and taken over by the PBGC. The recent change now allows active employees to collect benefits without retiring from their employer and takes effect June 1, 2021. Eligibility rules are established by the PBGC. However, we understand this change would apply to any employee of any company who had their pension terminated and taken over by the … Read More...

New IAM Pension Application Procedures

December 27, 2018 Admin 0

12/27/2018

Effective January 1, 2019 the Benefit Fund Office (BFO) of the IAM National Pension Fund (IAMNPF) will implement a change to in the Pension Application procedures to ensure compliance with the Fund’s rules.

The IAMNPF Summary Plan Description states: “You will be considered as having applied only when the Fund Office has received all parts of your completed application and any required supporting documents.  Payment cannot begin before the completed application is received.  Your application will have an expiration date, which is within 180 days of your request for it.  Your completed application must be received in the Fund … Read More...

Airline Retiree Benefit Plan

November 18, 2016 Admin 0

https://www.gilsbar.com/airlineretireebenefitplan/

Dear Retiree,

As an Airline industry retiree, spouse, domestic partner or survivor age 65 and over, you are now eligible to enroll in the group benefit plans through the Airline Retiree Benefit Plan. You are now eligible to elect Medical, Prescription Drug, Dental and Vision coverage and pay competitive group rates negotiated  by the buying power of the Airline Retiree Benefit Plan. Accessibility to these plan is one of the many advantages of being a retired airline industry employee. We encourage you to take advantage of the options available to you.

Insurance Overview

  • The Medical Plan offers
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