2.1 ELIGIBILITY FOR RETIRED PARTICIPANT
The Trust does not provide Vision, Accidental Death and Dismemberment, Time Loss, and Vacation Benefits to Retired Participants and their Dependents.
- Upon retirement under the Alaska Teamster-Employer Pension Trust, an individual is eligible for medical and prescription drug benefits , and life insurance to a limited extent, if the individual:
- is entitled to Medicare; and
- has been credited with at least 20,000 Covered Hours under the Welfare Trust since initial participation under the Plan; and
- has Covered Hours under the Welfare Trust in at least 12 months out of the last 48 before his or her retirement date under the Pension Trust (or, if not covered by the Pension Trust, 12 months out of the last 48 before his or her retirement from his or her Contributing Employer or Employers),or at least 50,000 Covered Hours under the Welfare Trust since Initial participation under the Plan; and
- has made the required timely self-payments; and
- has submitted a completed Retired Participant Welfare Trust enrollment form by 31 days after his or her retirement date under the Pension Trust, by 31 days after losing coverage under this Plan, or as provided in Section 2.3.
The Plan credits Eligible Employees with 173 Covered Hours for each month an Employer contributes to the Plan for work by the Employee under a Flat Rate Contract. This credit applies exclusively for purposes of determining eligibility for benefits as a Retired Participant.
Later, an individual can also enroll at age 65 if he or she has worked at least 40,000 Covered Hours under the Welfare Trust. However, an Individual can enroll as a Retired Participant only once. For example, if a Retired Participant stops making the monthly self-payment for any reason other than an exception under “Working While Retired,” the Participant and any Dependents cannot enroll in the Plan again.
Effect of Termination of Participation in Trust
If an Eligible Employee was working under a Collective Bargaining Agreement when the Employees covered by that Collective Bargaining Agreement voluntarily terminated participation in the Trust, any service as an Employee of that Employer will not be treated as Covered Hours in determining eligibility to become a Retired Participant.