Health & Welfare

Affordable Care Act Notice

This notice was sent to all active participants in the Chicago Laborers’ Welfare Fund on behalf of their employers as required by the Affordable Care Act, sometimes called Obamacare. Participants in the Chicago Laborers’ Welfare Fund do not need to shop for different or additional insurance. The Welfare Fund’s health coverage is considered affordable and adequate as defined by the Affordable Care Act because it covers at least 60% of eligible expenses. This means Chicago Laborers’ Welfare Fund participants do not need to take any action. Read more...

New Caremark Maintenance Choice Benefit

Effective February 1, 2013, if you go to a Caremark Pharmacy, you have the option to participate in the Maintenance Choice Benefit. This benefit gives you a lower price for a 90-day supply of a maintenance drug. You can also order your 90-day supply through Caremark's mail order service.

You will still be responsible to pay for your medications purchased at a participating CVS Pharmacy or ordered through the mail order service. Remember to submit a copy of your paid receipt for reimbursement.


Pension

Annual Funding Notice & Green Zone Notice

Recent pension reform legislation, called the Pension Protection Act of 2006 (PPA), added requirements for measuring the financial health of multiemployer pension plans such as ours.  PPA requires the Laborers' Pension Fund’s (Fund's) actuary to determine the Fund’s financial status under these new rules and to certify that status annually.  If the Fund’s status is critical (“Red Zone”) or endangered (“Yellow Zone”), the Trustees must notify all plan participants, beneficiaries, participating unions and contributing employers in writing Read more...

1099-R Tax Forms

The Internal Revenue Service requires the Fund to report pension recipient's earnings to the IRS by Form 1099-R. Form 1099-R forms are mailed by January 31, 2014. If you do not receive Form 1099-R or if you need another copy, please contact the Fund Office. This request can be made via mail, telephone or email Pension@chilpwf.com.

Pension payments to "Non-Resident Aliens" (non-US citizens, collecting pension benefits while residing in another country) may be subject to federal tax withholding under IRS Section 1441. For these pensioners, you will not receive Form 1099-R, instead you will receive Form 1042-S showing your earnings and federal withholding tax withheld. As a Non-Resident Alien, different tax rules apply to you. Please consult with your tax advisor or the Internal Revenue Service for more information.