Name of Plan/Fund
The Local 734 Welfare Fund Plan or Benefits. The name of the Trust Fund through which these Plans are provided is the Local 734 Welfare Fund.
Plan Sponsorship and Administration
Your Plan is sponsored and administered by a joint labor-management Board of Trustees. The Board of Trustees is the Plan Administrator. The Board is divided equally between Trustees selected by the Union and by Trustees appointed by participating employers. The Board is assisted in its administration of the Fund by a Fund Administrator who handles claim payments and clerical administration.
The names and addresses of the Fund Administrator and individual Trustees are shown on the Fund directory page.
Service of Legal Process
The agent whom the Trustees have appointed for service of legal process is located in your Plan booklet.
Service of legal process may also be made on any Trustee or on the Fund Administrator.
Source of Financing/Collective Bargaining Agreements
The fund receives contributions from employers who have entered into collective bargaining agreements with the Bakery, Cracker, Pie, Yeast Drivers and Miscellaneous Workers Union Local 734 of the International Brotherhood of Teamsters, from the Union, Pension Fund, and Welfare Fund, and from employees, retirees and dependents who make self-payments. The Fund may also receive refunds or fees from its prescription benefit manager.
An employee is entitled to participate in this Plan if he works under one of the collective bargaining agreements and if his employer makes the required contributions to the Fund for him. Other persons entitled to participate in this Plan are employees of the Union, the Pension Fund and the Welfare Fund.
A retired employee is entitled to participate in this Plan by making self-payments to the Fund if he worked under one of the collective bargaining agreements and if his employer made the required contributions to the Fund for him. Other retired persons entitled to participate in this Plan are retired employees of the Union, the Pension Fund and the Welfare Fund.
Accumulation of Assets/Payment of Benefits
Employer, employee, retiree and dependent contributions are received and held in trust by the Trustees pending the payment of benefits, insurance premiums, and administrative expenses.
Type of Plan and Method of Providing Benefits
The Fund provides disability, medical, vision, dental PPO benefits, retiree and dependent death and AD&D benefits on a self-funded basis. When benefits are self-funded, the benefits are provided directly to you from the Fund. Benefits can only be paid to the extent that assets are available in the Fund.
The Dental HMO Plan benefits are provided in accordance with a contract with the Trustees and BlueCare Dental HMO, 300 East Randolph Street, Chicago, IL 60601. BlueCare administers this program on behalf of the Trustees. Dental Network of America (DNOA) can be reached at (800) 323-6840.
The Prescription Drug Programs are administered in accordance with a contract with the Trustees by Sav-Rx Prescription Services, 224 North Park Avenue, Fremont, NE 68025.
The Fund provides life insurance and accidental death and dismemberment insurance benefits for employees through Union Labor Life Insurance Company, 111 Massachusetts Avenue, N.W. Washington, D.C. 20001.
This Benefit Plan is not an insurance policy, and no benefits are provided by or through an insurance company other than the Life and AD&D Insurance Benefits.
The Fund’s financial records are kept on a 12-month fiscal period, beginning on May 1 of a year and ending on April 30 of the following year.
Plan/Fund Identification Numbers
The Employer Identification Number (EIN) assigned to the Fund by the Internal Revenue Service is 36-2272414.
The Plan number (PN) is 501.