TCPT - Pipe Trades Services MN

FALL 2010
TCPT
A PUBLICATION OF
T W I N C I T Y P I P E TRADES SERVICE ASSOCIATION
IN THIS ISSUE
2
TCPT Website
Updates
2
3
TEAM
TCPT Welfare Fund
and Vision Service
Plan (VSP)
4
November is
Diabetic Eye
Disease Month
5
6
6
7
Fund Updates
Health Care Costs
Health Care Reform
LaborCare
Health News
11 Summary Annual
Reports
12 Blueprint
Update
13 Own a motorcycle?
14 Medicare Members
14 TCPT Flu Shot
Benefit
15 Performance
Update
Fund Office Hours:
Monday – Friday
8:30 am to 4:30 pm
See Member Reminders
on the back of this issue
for holiday closings
www.tcpt.org
TCPT Website Updated
The US economy continues with a painfully slow recovery and
unemployment levels in the construction industry remain stubbornly high. In an effort to provide more timely information to
members we have updated the TCPT website (www.tcpt.org) to
include both work history and eligibility information for individual members. See page 2 for details
TCPT Website Updates
Upon signing into the members section of the website, on
the main page you will see the “Member Control Panel”. This
panel is divided into two sections – the first tab being “Work
History”. This tab displays the “Period End” which is the
month hours were worked, “HW Month” which is the month
for which the hours in the “period end” column will provide
coverage. (For example hours worked in August are received
at the Fund Office in September and will provide coverage
for October), “Regular Hours” – which is the number of
hours contributed on your behalf and “Employer” – which is
the employer that submitted the hours on your behalf.
All of this information is displayed for the most recent
24 months.
The second tab is labeled “Eligibility InforIf you have
mation” and contains four sections of inforquestions on
mation. The first section shows a summary
signing into
of your “dollar bank balance”, the “current
the TCPT
monthly premium”, the “estimated full
website,
months of coverage” and the “estimated covplease
erage through date.”
contact the
The second section is titled “Important
fund office
Notes” and explains the function of the dollar
bank, the third section is called “Eligibility
FAQ’s” and contains the most frequently asked questions
and answers regarding eligibility and the last section is a
detailed grid of your “dollar bank information” for the
past 12 months.
TCPT has gone to considerable lengths to make the entire
website secure, including the implementation of a security
certificate. In order to maintain a secured website, a registration process is necessary to ensure that your work history
is only accessible to you. If you have questions on how to
register for the site, please contact the fund office.
We are pleased to provide this greater level of detailed information to our members, especially during these most difficult times.
WWW.TCPT.ORG
Work History
Period End
HW Month
Regular Hours
Employer
Eligibility Information
Summary
Important Notes
Eligibility FAQs
TOTAL EMPLOYEE ASSISTANCE MANAGEMENT
T.E.A.M.
Working to help you help yourself
We are your
“first call for help”
For help call
800-634-7710
Your Member Assistance Program, T.E.A.M. (Total Employee Assistance Management), is a
confidential counseling service available to TCPT Welfare Fund members and their families.
Professionals at T.E.A.M. are committed to acting as an advocate for you! Please contact the
Welfare Fund office to verify your eligibility for T.E.A.M.
2
The partnership between the
TCPT Welfare Fund and Vision
Service Plan (VSP) works!
Great News! TCPT and it’s nearly one year old partnership
with VSP is making it easier for TCPT members and their
families to see well, stay healthy and get the most out of
your vision benefits.
The feedback over the past year has been positive regarding
this vision benefit option. Administered by VSP, your new vision benefit is very easy to use. You simply call a VSP doctor,
identify yourself as a VSP member, schedule an appointment
and VSP takes care of all the rest. There’s no need for ID
cards, there are no claim forms and quite simply there are
no hassles!
Remember - You are still free to see any provider you
choose, however if you see VSP providers your benefits will
be enhanced based upon the discounts and management
VSP can provide.
Please keep the following important points in mind:
• To find a VSP provider go to www.vsp.com/choice
• For appointments contact a VSP provider, identify yourself
as a new VSP member and make the appointment.
• If you want to be able to access specific claim information
for you and your family register online at www.VSP.com
click on the “Members” section and select “Log in/Registration” at the top of the page and follow the instructions.
• For reimbursement of out of network claims (non-VSP) log
in to www.VSP.com or go to www.tcpt.org to print an OutOf-Network Reimbursement Form and send to:
VSP
Attn: Out-of-Network Claims
P.O. Box 997105
Sacramento, CA 95899-7105
Y
Here’s
Why You’ll
Love VSP
Personalized Care
These private-practice doctors take the
time to get to know you and your eyes.
The VSP WellVision Exam® is more than
just a quick eye check. It focuses on your
eyes and overall wellness. VSP doctors
look for more than just vision problems.
They can detect signs of serious health
conditions, like glaucoma, diabetic eye
disease, high blood pressure, and high
cholesterol too.
Doctor Network
You’ll find a VSP doctor at vsp.com/choice
that’s right for you. VSP doctors are
located nearby and most offer weekend
and evening appointments. Plus, all VSP
doctors offer eyewear choices you’ll love.
Significant Savings
Beginning with a generous $175 annual
allowance for frames, plus covered-in-full
spectacle lenses, your VSP vision benefit
is made even richer with cost controls on
the most popular lens options, including:
anti-reflective coatings, polycarbonate
lenses, progressive lenses and photochromic tints (Transitions®). You’ll pay the
same amount no matter which VSP doctor you choose. We know you’ll be happy
or VSP will make it right.
For additional
questions on
the program call
TCPT or call VSP
1-800-877-7195
3
November is Diabetic Eye Disease Month
In recognition of Diabetic Eye Disease Month we encourage all members to read the
following information on eye care that will provide for a lifetime of good eye health.
Diabetics should protect their vision by having a dilated eye
exam every year.
• Diabetic eye problems are among the most common complications facing people with diabetes.
• Approximately 29 million Americans age 20 and older have
diabetes. And almost one third are at risk for vision loss because
they do not know they have the disease.
• Diabetic retinopathy, a degenerative disease of the retina (the
sensitive area at the back of the eye), affects 5.3 million Americans age 18 and older each year.
• Diabetic retinopathy is the leading cause of blindness among
working-age Americans.
• Diabetes can also affect your vision by causing cataracts and
glaucoma.
Yearly dilated eye exams are crucial for protecting vision in
people with diabetes.
• Early detection and treatment of diabetic retinopathy can usually prevent permanent vision loss.
• More than one third of those diagnosed with diabetes do not
receive the recommended vision care and may be at risk for
blindness.
• Call your Eye M.D. if you have diabetes and you notice vision
changes that affect only one eye, last more than a few days or
are not associated with changes in your blood sugar.
• Pregnant women with diabetes should have an eye exam in the
first trimester – since diabetic eye disease can progress rapidly
during pregnancy.
Keeping your blood sugar under control decreases your
risks of many complications associated with diabetes, including eye disease.
• High blood sugar can damage the blood vessels in the retina,
which can lead to vision loss or blindness.
• Rapid changes in blood sugar can cause temporary changes in
vision, even if diabetic eye diseases aren’t present.
• It’s especially important to keep blood sugar in good control for
a few days before being examined for glasses. Corrected lenses
that work well when the blood sugar is out of control will not
work well when the blood sugar is stable.
4
FUND UPDATES
PENSION
Please review the Summary Annual Report information for the pension fund that is included in this edition of
the newsletter.
SUPPPLEMENT
The “Blueprint for Retirement” section of this
newsletter contains important information on withdrawal and hardship withdrawals as well as new
contact information for our education providers.
Please review this information carefully.
RETIREE HEALTH TRUST
The Retiree Health Trust (RHT) has reached a milestone – in November 2010 the fund reached $100
million dollars. It is important to understand that
this fund is not part of the health & welfare fund and
that this fund does not pay any medical claims. It
acts more like an additional pension fund that will
provide payment of up to 2/3rds the cost of your
retiree health care premiums on a pre-tax basis.
Healthcare in retirement is so important and the tax
savings alone are significant. The RHT will ensure
that TCPT members have access to affordable health
care in retirement.
WELFARE
The Federal COBRA subsidy program which provided up to 65% toward the cost of COBRA continuation coverage has ended for any member that has
worked after 5/31/2010.
This change does not affect members whose last
hours were prior to 5/31/2010 and are currently
receiving the subsidy. These members will
continue to receive the subsidy for up to a total
of 15 months or becoming covered again as
an active member.
Women’s Health Benefit Notice
The Plan is required by federal law to notify our
plan participants that certain mastectomy procedures are covered by the TCPT Welfare Fund. These
procedures include:
• Reconstruction of the breast on which the mastectomy has been performed
• Surgery and reconstruction of the other breast to
produce symmetrical appearance
• Prostheses and treatment of physical complications of all stages of mastectomy, including
lymphedemas
In addition to the newsletter this notice is always
posted on the TCPT website and in the summary
plan description booklet for the welfare fund.
5
$$
$
Health Care Costs
Health Care Reform
The following are some of the latest statistics for the
TCPT Welfare Plan
Affordable Care Act
$1,141,917 – the claims cost paid by the TCPT Welfare Fund for the two highest cost individuals, (not
families, but individuals) last fiscal year.
$3,083,670 – the claims cost paid by the TCPT Welfare Fund for the top ten individuals last fiscal year
$10,052,634 – It took only 86 individuals to reach
over $10 million dollars paid out in claims, and
average of over $116,891 per person – 0.71% of the
individuals accounted for 18% of all claim costs
$20,009,860 – 384 individuals – 3.2% of the individuals accounted for 36% of all claim costs.
Over 12,000 individuals had claims during this period.
For the first 4 months of the current fiscal year (May
through September) per capita claims costs are running 10.2% higher than for the same period last year.
The numbers above show how expensive some healthcare treatments can be – please remember that if you
are fortunate enough not to have high medical claims,
there are other members that are not so fortunate.
These members face both significant health care challenges and costs.
It’s important that we all do our part to be good consumers of healthcare, to eat right, to exercise, stop
smoking and to also understand that many people
through no fault of their own will experience serious
medical conditions that place considerable hardship
on themselves and their families and that during these
times quality medical coverage is critically important
to their financial and physical well-being.
The health care legislation that was recently passed
is called the Affordable Care Act (ACA). The Affordable Care Act will require certain changes to the
TCPT Welfare Fund with regard to such things as lifetime limits, preventive care benefits and coverage for
dependent children up to age 26. At this time details
on some of the regulations are still being finalized;
for TCPT the new rules will generally take effect on
May 1, 2011, which is the first day of the first plan
year beginning on or after September 23, 2010.
One of the changes that will require action by plan
participants will be to enroll dependent children that
are eligible for coverage up to age 26. Prior to May
1, 2011 members with adult children not currently
enrolled in the TCPT plan will receive additional
information and an enrollment form so that eligible
children will be able to enroll in the TCPT Fund.
Please watch for mailings from the fund office and
subsequent editions of the newsletter for more information as we get closer to May 1, 2011.
AFFORDABLE
D
E
V
O
P P R ACT
ACARE
LaborCare Health Fair – Save the Date!
Don’t miss it – on April 9, 2011 the Health Fair will be
back bigger and better than ever! This event will provide
members with a great opportunity to learn about quality
medical providers, get your questions answered by
doctors and pharmacists, participate in health screenings plus a chance to win some great prizes donated by
our vendors and service providers. Put it on your calendar now and watch for updates as we enter 2011!
6
April 9, 2011
Bring family
to LaborCare
Health Fair!
LaborCare
Look better. Feel better. Be better.
HEALTH
NEWS
There’s no place like a medical home
for better health and cost savings
Find the right
PCP for you
Home is where the heart is, and a medical home is where your
health is. Your medical home is with the primary care provider (PCP)
who provides your routine care, such as checkups and preventive care.
These tips can help
you find a medical
home that is right for you:
A medical home offers important advantages, including:
 Most people should
choose a primary care
provider (PCP) who is a
family doctor or internal medicine doctor. A
healthy young woman
may choose to have an
OB/GYN as her PCP.
 Children may use a pediatrician as a PCP.
 Select a PCP whose office is convenient to your
home or work.
 Make sure you feel comfortable with the
PCP and his or her staff.
 Schedule an appointment to meet with your
prospective PCP
before you are sick.
 Better health — Your PCP will get to know a lot about you, such as your
personal health history, your family health history and your risk of developing heart disease, back pain and other serious conditions. Over time, your
PCP can also observe changes that may signal a health concern, such as
weight gain, depression or increased blood pressure. With this kind of information, your PCP can help anticipate your future health care needs and
provide preventive care to help you stay in good health.
 Improved safety — Your PCP will coordinate all of the care you receive
from different providers. This is especially
important if you have a chronic health condition, such as heart disease or diabetes,
that may require care from multiple doctors.
Your PCP will make sure that all of your care
and medicines work together for the best
possible results.
 Cost savings — Your PCP knows which
health screenings, medical tests and services you have received. A doctor who doesn’t
know you may order unnecessary screenings or tests that cost you and your labor
plan a lot of money. Also, your PCP has a
better idea which medicines and treatment options will be safest and most
effective for you. That kind of knowledge can save you time, trouble and
money.
 Higher satisfaction with your health care experience — As with any relationship in your life, the relationship you develop with your PCP will be
marked by mutual respect and understanding. You will learn to trust each
other. You will also become more comfortable communicating with each
other; you won’t feel embarrassed to speak openly about your health concerns, and your PCP will feel free to talk with you about sensitive topics,
such as your sexual health and mental health.
 Better access to care — In many cases, a PCP is required to act as your
point of access to medical specialists, such as a cardiologist, surgeon or podiatrist. Your PCP can also put you in touch with needed support services,
such as dietitians, social workers or home care staff.
Tip: For help finding a PCP
in Medica’s LaborCare
network, use the Find A
Doctor tool at medica.
com. It’s free and easy
to use. Find A Doctor
allows you to search
based on criteria, such as
the provider’s geographic
location, gender and languages spoken.
Remember: Having a medical home puts you a step ahead. See the tips at right
for help finding the right PCP for you.
7
LaborCare Health News
Give your medicine a
checkup
A podiatrist won’t remind you to have your cholesterol
checked
One of your primary care
provider’s (PCP) main tasks
is to keep up with all of
your medicines, including
those prescribed by other
doctors. Certain medicines
may interact and affect how
other ones work. This is
true of prescription medicines as well as:
• Over-the-counter (OTC)
drugs, such as aspirin,
cough medicine and eyedrops
• Dietary supplements,
including vitamin pills
• Herbal remedies
The next time you schedule
a checkup with your PCP,
say that you want a medicine checkup, too. On the
day of your checkup, put all
of your prescription medicines, OTC drugs, supplements and herbal remedies
into a paper or plastic bag
and take it to your appointment.
By Theodore Loftness, MD,
vice president of Labor Health Services
Here’s one good reason to get a primary care provider
(PCP): You’re more than the sum of your parts.
Think about it. Your cardiologist’s job is to help keep
one part of you — your heart — healthy. Your dermatologist addresses any problems you have with your
skin, and your podiatrist focuses on your feet.
All of these doctors may provide excellent care. But
they are mostly concerned with one part of your body.
A podiatrist probably won’t suggest that you get a flu shot, remind you to
have a prostate cancer screening or help you quit smoking, because
that is not the podiatrist’s job.
Your PCP will work with your specialists to determine the best care for you.
Your PCP will:
4 Recommend preventive care, such as cancer screenings
and immunizations.
4 Help guide you in making wise lifestyle choices about
exercise, diet, injury prevention and smoking cessation.
4 Coordinate all of the care and medicines you receive
from specialty providers.
Plus, your PCP will be around for years. You might see a specialist only once
or twice for an acute problem. But you will visit your PCP regularly for a long
time. That will help your PCP identify health concerns that might not catch
the eye of a doctor you see only on rare occasions.
Your PCP is also important for improving quality of care and managing health
care costs.
Tip: Carry all of your
medicines in their
original containers
During the appointment,
make sure your doctor
knows about any allergies
you have, including food
or drug allergies. Also, tell
your doctor if you sometimes forget to take your
medicine, experience side
effects of your medicines or
have any similar concerns.
8
Flu shot? Why not?
Getting an annual flu shot is good for your wallet and health. It takes only a
few seconds but can save you a lot of time and misery.
A yearly flu shot is highly recommended for anyone:
4 Who wants to reduce his or her flu risk
4 Who lives with, works around or cares for a child younger than age 6
months
4 Ages 6 months to 18 years
4 Ages 19 to 49 years with a chronic health condition, such as heart disease,
asthma or diabetes
4 Age 50 years or older
4 Who lives with a person at high risk for flu complications
4 Who works in health care and provides direct patient care
4 Who lives in a long-term care facility
Flu season usually begins in early October and peaks in February or March.
Getting a flu shot early can help keep the flu away all season. To find a flu
shot clinic: Visit medica.com>Members>Member Through Work>
Quick Links: Flu Tips and Clinics, or call your primary care provider.
LaborCare Health News
Enjoy the healthy rewards of preventive care
You’ve probably heard the saying, “If it isn’t broken, don’t fix it.” But what if you can actually prevent “it” from
breaking? That’s what preventive health care is designed to do.
Preventive care helps keep you healthy by stopping problems before they start. Preventive care may also find
problems that need to be addressed before they become bigger problems. Preventive care includes screenings for
potentially dangerous conditions such as high blood pressure. Following the Institute for Clinical Systems Improvement’s (ICSI) preventive care guidelines can help detect high blood pressure early, so you can take steps to
greatly reduce your heart disease risk.
What preventive care do I need? The services below are the ICSI recommendations for routine preventive care for adults.
Ask your primary care provider (PCP) about the screening services you need based on your health risk factors.
Guide to Preventive Services and Immunization Schedule for Adults
Disease screening, counseling and education for average-risk adults, without symptoms of illness or disease. These are routine recommendations;
your doctor may advise you differently depending on your medical history. The services below are recommendations and not authorization for
coverage. Check your individual plan first.
Service
Health Risk Assessment
A physical exam and review of personal health risk factors,
including counseling about how to stay healthy. This may be
a separately scheduled visit or in combination with a medical
appointment for other health concerns.
Complete a personal Health Risk Assessment online and bring
this to your clinic appointment. (Note: Not all plans have this
benefit, check your individual plan.)
19-39 Years
Over 65 Years
At least every 5 years
Should include but is not limited to:
Obesity screening
Tobacco use/exposure screening & brief intervention
Alcohol abuse screening & brief counseling
Depression screening
Calcium counseling and osteoporosis screening (women only)
Folic acid counseling (women of childbearing age only)
Breast Cancer Screening – Mammogram
An X-ray of your breasts
Cervical Cancer Screening – Pap Smear
A small sample of cells from the surface of the cervix is collected
by your health professional. The sample is then spread on a
slide (Pap smear) or mixed in a liquid fixative and sent to a lab
for examination under a microscope. The cells are examined for
abnormalities that may indicate abnormal cell changes, such as
dysplasia or cervical cancer.
40-64 Years
Women ages 50-75, every 1-2 years
Women ages 40-49, if at risk*
(Risk = past personal history or immediate family
history of breast cancer, or previous breast biopsy
with results that were of concern)
Women: Beginning at age
21 or three years after
first sexual intercourse,
whichever is earlier;
repeat every 3 years
after three annual
consecutive normal
results
Colorectal Cancer Screening
Four different tests are available to test for colorectal cancer,
talk to your doctor about what’s best for you.
Women: Every 3 years
after three annual
consecutive normal
results
Women: Ages 65+ with
new sexual partner
Begin screening at age 50, or if African American,
screening at age 45 (frequency is determined by
screening method chosen)
Chlamydia Screening
A test of a sample of body fluid or urine to determine whether
chlamydia bacteria are present and may be the cause of an
infection. Chlamydia is the most common bacterial sexually
transmitted disease in the United States.
Women: All females
sexually active aged 25
years or younger, and
those at risk* (with or
without symptoms)
Blood Pressure Screening for Prevention of Heart Disease
Blood pressure every 2 years if less than 120/80; every year if 120-139/80-89 Hg
Cholesterol Testing
A blood test that measures the total amount of fat-like
substance (cholesterol) in your blood to see if you are at risk for
Men: Over age 34
every 5 years
Daily Aspirin Use for Prevention of Heart Disease
If at risk* (Risk = having new or multiple sex
partners, history of a sexually transmitted infection
or not using condoms consistently or correctly)
Women: Over age 44 every 5 years.
Men: Every 5 years
Women ages 55-79
Men ages 45-79: Discuss with practitioner
Abdominal Aortic Aneurysm Screening
An ultrasound to check for a stretched and bulging section in the
wall of the aorta, the large artery that carries oxygen-rich blood
from the heart to the rest of the body. The weakened and bulging
section may burst or rupture, causing life-threatening bleeding.
Men: One lifetime screen
for ages 65-75 who have
ever smoked (greater
than 100 cigarettes in
lifetime)
Vision and Hearing Screening
Adults every 2-10 years
*“If at risk”: Discuss with your doctor based on past and current medical history, family history, living situations, lifestyle and profession.
9
LaborCare Health News
Play a part in prevention
When it comes to staying healthy, you can have a big impact by making wise lifestyle choices every day.
Diet: Numerous studies have shown that Americans eat too much
salt, fat and sugar but not enough fresh fruits and vegetables. Set a
goal to add one more piece of fresh fruit and one more fresh vegetable to your meal plan every day.
Exercise: You may get a lot of physical activity on the job. But is it
enough? Try taking the stairs instead of the elevator, or walk for 15
minutes during your lunch hour or after dinner. Every step counts.
Injury prevention: Take time to follow basic safety procedures at
work and at home. For example, practice proper lifting techniques
every time. Seek appropriate medical care promptly after an injury.
Remember: Your primary care provider plays a big role in keeping
you healthy — and so do you!
Prescription drug abuse is on the rise
The face of drug abuse in the United States is changing. More and
more, it is the abuse of prescription drugs, often by teenagers.
Fact: Seven million Americans older than age 12 took
prescription drugs for non-medical reasons in 2009.
Source: Substance Abuse and Mental Health Services Administration
The most commonly abused prescriptions drugs are painkillers.
Many of these drugs are easily available, which makes them attractive to teens. Teens can often find prescription drugs in their
parents’ medicine cabinet or through online pharmacies that do
not adequately verify identity or medical need.
To help prevent drug abuse:
4Take prescription drugs only as directed by your doctor.
4Never give your prescription drugs to another person.
4Never take another person’s prescription drugs.
4Store prescription drugs securely where children and teens can’t
get to them.
10
Grown-ups need ‘shots,’
too
Sure, your kids are up to date on
their polio, measles and chicken
pox shots. But what about you?
Diseases don’t discriminate
against adults. You need to stay
up to date on immunizations to
help prevent these serious illnesses:*
4Tetanus (lockjaw), diphtheria
and pertussis (whooping
cough)
4Polio
4Pneumonia
4Measles, mumps and rubella
4Hepatitis A
4Hepatitis B
4Varicella (chicken pox)
4Meningococcal
4Shingles
4Human papilloma virus —
for women up to age 26
Ask your primary care provider
which of these important immunizations you may need. Even if
you were immunized as a child,
you may need a booster shot to
ensure that you are fully protected.
*Check with your benefits administrator to make sure these
immunizations are covered by
your health plan.
Summary Annual Report
FOR TWIN CITY PIPE TRADES WELFARE AND PENSION PLANS
This is a summary of the annual reports of the Twin City Pipe Trades Pension Plan and Twin City Pipe Trades
Welfare Plan for the period May 1, 2009 to April 30, 2010. The full annual reports for the benefit plans are filed
with the Internal Revenue Service as required under the Employee Retirement Income Security Act of 1974
(ERISA) under the following employer identification numbers:
Twin City Pipe Trades Pension Plan: 41-6131800 Twin City Pipe Trades Welfare Plan: 41-0761972
TCPT Welfare Supplement Fund
Basic Financial Statement
The value of plan assets, after subtracting liabilities
of the plan, was $53,853,238 as of April 30, 2010,
compared to $50,765,571 as of May 1, 2009. During the plan year the plan experienced a change in
its net assets of $3,087,667. This change includes
unrealized appreciation or depreciation in the value of plan assets; that is, the difference between
the value of the plan’s assets at the end of the year
and the value of the assets at the beginning of the
year or the cost of assets acquired during the year.
The plan had total income of $60,696,367 which
included employer contributions of $47,843,408,
employee contributions of $4,016,378, gain of
$190,492 from the sale of assets, and earnings
from investment of $4,327,216.
Total plan expenses were $57,608,700. These expenses included $1,583,654 in administrative expenses and $56,025,046 in benefits paid to participants and beneficiaries, and $0 in other expenses.
Insurance Information:
The plan has (a) contract(s) with, United Health
Group-Medica, and United Healthcare Insurance
Company and United Health Group-Medica Advantage Plan to pay certain Retiree Health Benefit
Claims. The total premiums paid for the plan year
ending April 30, 2010 were $6,366,730.
TCPT Pension Plan
Basic Financial Statement
The value of plan assets, after subtracting liabilities of
the plan, was $572,019,292 as of April 30, 2010, compared to $468,496,915 as of May 1, 2009. During the
plan year the plan experienced a change in its net assets of $103,522,377. This change includes unrealized
appreciation or depreciation in the value of plan assets;
that is, the difference between the value of the plan’s
assets at the end of the year and the value of the assets at the beginning of the year or the cost of assets
acquired during the year. The plan had total income of
$138,011,726 which included employer contributions
of $27,447,904, employee contributions of $0, loss of
$23,844,118 from the sale of assets, and earnings from
investment of $86,568,931.
Total plan expenses were $34,489,349. These expenses
included $2,592,174 in administrative expenses and
$31,897,175 in benefits paid to participants and beneficiaries, and $0 in other expenses. A total of 7,130
persons were participants or beneficiaries of the plan at
the end of the plan year, although not all of these persons had yet earned the right to receive benefits.
Note 1: Professional, legal and investment management fees included in the administrative expenses listed above were $1,967,624
Minimum Funding Standards
An actuary’s statement shows that enough money was
contributed to the plan to keep it funded in accordance
with the minimum funding standards or ERISA.
Your Rights To Additional Information
You have the right to receive a copy of each full annual report or any part upon request.The items listed below are included in that report for the Pension
and Welfare Plans.
- An accountant’s report.
- Financial Information and information on payments to service providers.
- Assets held for investment.
- Transactions in excess of 5% of plan assets.
- Information regarding any common or collective trusts, pooled separate accounts, master trusts, or 103-12 investment entities in which the plan participates.
- Actuarial information regarding the funding of the plan
To obtain a copy of each of the full annual reports, or any part of a report, write or call the Office of the Plan Administrator, Twin City Pipe Trades Service
Association, Inc., 700 Transfer Road, St. Paul, MN 55114, and Telephone (612) 645-4540. The report is furnished without charge. You also have the right to
receive from the Plan Administrator, on request and at no charge, a statement of the assets and liabilities of each plan and accompanying notes, or both.
If you request a copy of the full annual report from the Plan Administrator, these two statements and accompanying notes will be included as part of that
report. You also have the legally protected right to examine each annual report at the main office of the Employee Benefit Plans, 700 Transfer Road, St. Paul,
MN 55114 and at the U.S. Department of Labor in Washington, DC. Requests to the Department of Labor should be addressed to Public Disclosure Room
N 1513, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue NW, Washington, DC 20210. You have received
this report in accordance with requirements of ERISA because you were a participant in at least one of the plans. Receipt of this report does not in any way
imply that you were a participant in all of the listed plans. This report does not create any rights, or give benefits to you, other than those you were entitled
to under the terms of a particular plan in which you qualified to be a participant. If you have any questions regarding whether you are a participant in a
particular plan, or what benefits or entitlements are due you from a plan please contact the Service Association office.
11
BLUEPRINTUPDATE
Plan Amended with regard to withdrawals
Effective January 1, 2011
The following benefit changes represent a Summary of Material Modifications under the Twin City Pipe Trades Pension
Supplement Plan
The board of trustees of the Twin City Pipe Trades
Pension Supplement plan voted to adopt the following
language revising Section 4.2(d) of the Plan effective
January 1, 2011. This revision shall be effective for
two years, unless extended by subsequent action of
the Board of Trustees.
50% of the Employee’s accumulated share is available if
the Employee has had a complete withdrawal from any
employment in the Pipe Trades Industry of any type for
a period of at least 12 consecutive months, including but
not limited to a withdrawal from Covered Employment,
self-employment, or any other type of employment in
the Pipe Trades Industry, and no contributions have been
made to the Plan on behalf of the Participant for a period
of at least 12 consecutive months.
The remaining 50%, bringing the total to 100% of
the Employee’s accumulated share is available if the
Employee has had a complete withdrawal from any
employment in the Pipe Trades Industry of any type for
a period of at least 24 consecutive months, including
but not limited to a withdrawal from Covered Employment, self-employment, or any other type of employment in the Pipe Trades Industry, and no contributions
have been made to the Plan on behalf of the Participant
for a period of at least 24 consecutive months.
In conjunction with the plan change above the board
of trustees of the Twin City Pipe Trades Pension
Supplement Plan also adopted the following language
for hardship withdrawals effective January 1, 2011:
IMPORTANT CHANGE-PLEASE READ
Effective January 1, 2011 hardship withdrawals will
be limited to those withdrawals specifically for Housing, including Mortgage or Rent, Health including
Insurance Premiums and Uncovered Medical Bills
and Vehicle Payments. Statements or bills for charges
unrelated to housing, medical and vehicles will not be
eligible for the hardship withdrawal provisions.
12
Please keep in mind that the Pension Supplement account is not a savings account. The funds are indeed
“members’ money” however the money has been
contributed pre-tax in accordance with government
regulations and laws. All money being distributed
must also follow the regulations and laws.
IMPORTANT NOTICE: New Name and Contact
information for TCPT Education Providers
Contact information for your Investment
Education providers, John and Steve Ehlers,
has changed. They can now be reached at
952-697-3707 or john.ehlers@lpl.com
Although their contact information has changed, their
commitment to providing each and every member
with honest, unbiased investment education has not.
If you haven’t talked to them before we encourage
you to give it a try. The following is just an example of
what you might want to ask:
uI still have a while to work – how does my asset allocation look?
uI want to retire – can I afford to?
uHow do I plan for my income and expenses in retirement?
uWhich of my investments should I draw from first?
uWhat risks should I plan for in retirement that I
might not be aware of?
As always, please do not hesitate to contact John or
Steve with any questions you may have regarding your
Pension Supplement Plan investments, outside investments, or financial planning questions in general.
Complete contact information is as follows:
John and Steve Ehlers
Sentry Retirement Consultants, Inc.
1660 South Highway 100, Suite 500
St Louis Park, MN 55416
(952) 697-3707
john.ehlers@lpl.com
Own a motorcycle?
Please read the following article carefully!
The Twin City Pipe Trades Welfare Fund
has an exclusion which states there is no
coverage for claims which are covered
by no-fault automobile insurance.
The exclusion goes on to state that if an eligible
person does not have no-fault automobile
insurance there will be no payment by the
TCPT Welfare fund for the first $20,000 in
medical bills.
The purpose of this article is to clarify
this rule with regard to motorcycle coverage. The effect of
the plan rules for motorcycles
is essentially the same as for
automobiles.
There has been some
confusion due to the fact
that certain insurers
state they they do not
have “no-fault” coverage for motorcycles.
The following information will be helpful
in understanding how
insurers label and sell
this type of coverage.
General Rule on No-Fault Coverage
The general rule in Minnesota is that owners of selfpropelled vehicles are required to carry Personal Injury
Protection (PIP) coverage for those vehicles licensed
and operated in the state. This rule is reflected in
Minnesota in the Minnesota No-Fault Insurance Act.
The definitions in the statute exclude motorcycles and
any injuries occurring while riding or getting on or
off a motorcycle. This is separate from the statutory
requirement that all owners of self-propelled motor
vehicles licensed in the state have liability coverage
(including motorcycles) to protect others injured by
the operator.
As a result, if someone is injured in a motorcycle accident while riding on a motorcycle, they cannot obtain
benefits from a PIP policy on any of the cars they may
own, or the PIP coverage from anyone else involved in
the accident. Persons injured in accidents while riding
a motorcycle are then limited to obtaining benefits
through a policy obtained for medical coverage from
their motorcycle insurer, trying to collect from the
wrong doer in a claim against that person’s liability
coverage, submit the claim to their health insurer or
health plan, or pay it themselves.
Motorcycle Coverage for Medical and
Wage Loss Claims
The statutory language that refers to no-fault coverage
(PIP coverage) does not apply to motorcycles; hence
most every insurance company will tell you that they
do not offer no-fault coverage for motorcycles. What
they do offer, however, is the same thing but it is
called a different name (because it is outside the NoFault statute). That overage is called Medical (if the
owner elects just medical coverage), or Economic Loss
Coverage if the owner wants both medical and wage
loss benefits, just like no-fault. No-fault covers both
medical and wage loss/replacement services. Hence,
the coverage is available for motorcycles, but just under a different name.
Cost and Availability of Medical and
Economic Loss Coverage
The fund office has heard from certain members that
they could not obtain coverage for medical claims and
wage loss when riding a motorcycle. The fund office
has contacted several insurance brokers and agents
and found uniformly, that Medical and Economic Loss
coverage is available through a wide array of carriers
in Minnesota. Some carriers will offer the coverage
directly and others will partner with a carrier that specializes in that type of coverage.
We also had agents run pro-forma quotes for coverage,
and Medical and Economic Loss coverage tends to
run between $150 and $350 year. One mock-up that
seemed typical produced a quote of $198 a year for
Medical. Medical is the expensive part of the coverage
because higher claims are most likely for an injury,
and they tend to be serious. Wage loss benefits are
capped at $250 a week.
In summary, if you have a motorcycle you should
speak to your insurance agent and make sure you have
coverage for Medical Benefits. The Welfare fund will
not make any benefit payments for the first $20,000 in
medical bills related to a motorcycle accident.
Although not mandatory at this time the fund also
highly recommends that members review their overall
insurance coverage plan with their agent and obtain
additional coverage for snowmobiles and other recreational vehicles.
13
Medicare Members
TCPT Flu Shot Benefit
Please review the following information regarding your TCPT
Flu Shot Benefit.
The following bullet points provide specific details on the TCPT
Flu Shot benefit.
The TCPT Welfare Fund has a $30.00 per calendar year flu shot
benefit. This is a calendar year benefit of $30.00, per person,
per calendar year. This is a benefit for each family member and
is in addition to the current routine benefit allowances in the
plan.
Medicare
1-800-772-1213
Medica Center for
Healthy Aging
952-992-2330 or
1-800-575-2330
Attention TCPT Medicare members that
participate in the Medica Advantage Plan,
which generally are residents in states
other than Minnesota and certain counties in Wisconsin, North Dakota and South
Dakota.
The recently passed health care legislation
affected Medicare Advantage Plans and
this change will require the above referenced out of state Medicare members to
enroll in a new plan. You will each receive
information and an enrollment packet via
mail and the coverage will be almost identical to your current plan. The new plan
will take effect on January 1, 2011 and we
will work to assist you in making this as
smooth a transition as possible.
Important Note: Medicare members that
are covered under the Medica Group
Prime Solutions Plan are not affected by
this change.
14
Minute Clinic, Walgreens, Cub Pharmacy and others are offering Flu Shots for $30.00 or less, so there will be no out of pocket
cost to you on these shots! (If you use other providers and the
cost is greater than $30.00 you will be responsible for the difference.)
This benefit does not apply to Medicare members as they are
covered under a separate plan and have a different benefit for flu
shots. Medicare members please check with the Medica Center
for Healthy Aging with any questions.
Additional information and guidelines can be found if you visit
the CDC’s website at www.cdc.gov/flu
Antiviral Medication for Influenza
Antiviral treatment will be covered as treatment for high-risk
patients only and excluded under all other circumstances. Antiviral medications, including Tamiflu (oseltamivir) and Relenza (anamivir) for the prevention or treatment of influenza in
high-risk patients. High-risk patients include:
• Adults and children who have chronic disorders of the pulmonary or cardiovascular system, including asthmas;
• Adults and children who have required regular medical followup or hospitalization during the preceding year because of
chronic metabolic diseases, renal dysfunction, hemoglobinopathies (abnormal hemoglobin / anemia), or immunosuppression;
• Children and adolescents aged 6 months to 18 years who are
receiving long-term aspirin therapy;
• A specific condition that poses a risk of serious complications
of influenza.
Please contact the Fund Office for pharmacy benefit override
procedures prior to seeking antiviral treatments - if these circumstances apply.
?
Lingering
Questions?
Investment Questions
Contact Sentry Retirement Consultants at 952-697-3707.
Investment Changes
Through the TCPT website (www.tcpt.org) or on the Voice Response Unit
(VRU) at 877-645-8278. On both systems, your user ID is your social
security number and your password is the month and year of your birth
(MMYY). When on the VRU, you can either follow the prompts, or press “0”
to speak to a live person.
Operations or Administration Issues
Call the TCPT office at 651-645-4540.
PERFORMANCE
UPDATE
LESS RISK
MORE RISK
FOR THE PERIOD ENDING OCTOBER 31, 2010
TOTAL RETURN (%)
As of
AVERAGE ANNUALIZED RETURNS (%)
Quarter Year-To-Date 1-Year
3-Year
5-Year
10-Year or Since
Inception
Galliard Retirement Income
10/31/2010
0.90%
3.07%
3.78%
4.20%
4.55%
5.14%
PIMCO Total Return
10/31/2010
3.35%
11.00%
11.43%
10.82%
8.78%
7.97%
Income Fund of America
10/31/2010
7.38%
9.62%
15.87%
-2.57%
4.43%
6.51%
Washington Mutual
10/31/2010
7.48%
7.64%
16.34%
-6.78%
1.69%
3.01%
Vanguard Total Stock
10/31/2010
8.43%
9.10%
18.56%
-5.61%
2.38%
0.89%
Davis NY Venture
10/31/2010
6.68%
4.07%
12.87%
-7.72%
0.73%
1.95%
Hartford Capital Appreciation
10/31/2010
8.52%
5.64%
15.69%
-7.91%
3.32%
3.97%
Lord Abbett Mid Cap
10/31/2010
9.55%
13.47%
25.04%
-6.88%
0.58%
6.13%
Columbia Acorn A
10/31/2010
9.32%
13.15%
24.75%
-3.23%
4.56%
8.33%
Royce Low Price
10/31/2010
13.51%
15.45%
29.41%
1.98%
8.54%
10.16%
Neuberger Berman
10/31/2010
6.46%
8.71%
18.56%
-3.15%
4.45%
9.93%
Fidelity Advisor Diversified Intl
10/31/2010
11.01%
5.47%
11.17% -10.79%
1.16%
4.42%
Capital World Growth & Income
10/31/2010
9.87%
5.93%
12.40%
-6.12%
5.91%
7.87%
TCPT MODEL PORTFOLIOS ***
Conservative
Moderately Conservative
Moderately Aggressive
Aggressive
10/31/2010
10/31/2010
10/31/2010
10/31/2010
2.83%
5.08%
6.64%
8.67%
6.67%
11.64%
13.66%
17.62%
2.54%
1.95%
-0.61%
-2.55%
4.47%
5.23%
4.81%
4.50%
4.41%
5.83%
5.81%
6.55%
8.01%
16.52%
26.58%
22.61%
7.23%
-6.49%
-3.91%
-4.28%
6.45%
1.73%
3.07%
3.41%
6.38%
-1.02%
4.89%
-2.91%
N/A
N/A
N/A
N/A
INDUSTRY INDEXES
Barclays Aggregate Bond
10/31/2010
1.76%
8.33%
S&P 500 Stock
10/31/2010
7.97%
7.84%
Russell 2000
10/31/2010
8.40%
13.58%
NASDAQ
10/31/2010
11.21%
10.50%
* Performance history prior to December 1993 is that of the host fund, also advised by Morley Capital Management
**Quarter, Year-To-Date, 1-Year, and 3-Year are Admiral Share Class, Inception 11/13/00; all others are Investor Share Class.
***Weighted returns based on each fund’s representation in the Model Portfolio
15
Member Reminders
Keeping the following items in mind will help us to serve you better!
Please remember:
>The next Health Fair is scheduled for April 9, 2011 – save the date!
>Don’t forget www.tcpt.org as a resource for many of your benefit questions. Call the fund
office if you have not yet registered for the site.
>Please contact the fund office before scheduling a sleep study to discuss benefit limitations
and providers. The cost and quality for these tests vary greatly; this phone call can save
you time and money!
>TCPT recommends members use CDI for Imaging Procedures – call the CDI Labor line at
866-765-7138 or visit www.CDIradiology.com for more information.
TWIN CITY PIPE TRADES
SERVICE ASSOCIATION
700 TRANSFER ROAD
ST. PAUL MN 55114
EXECUTIVE ADMINISTRATOR: JAMES HYNES
PHONE: 651-645-4540
TOLL FREE: 1-800-515-2818
FAX: 651-645-8119
E-MAIL: QUESTIONS@TCPT.ORG
WEBSITE: WWW.TCPT.ORG
Benefit Fund Trustees
Welfare Fund
Retiree Health Fund Pension Fund
William Daugherty William Daugherty
Joe O’Shaughnessy
Mggy Kottman
Maggy Kottman
Russ Scherber
Tim Urista
Tim Urista
Stan Theis
Michael Tieva
Michael Tieva
Robert Hansen
Rick Magler
Rick Magler
Steve Pettersen
Paul Batsche
Paul Batsche
Paul Jordan
Tom McCarthy
Tom McCarthy
Gary Erlander
Gary Thaden
Gary Thaden
Nate Duda
Pension Supplement Fund
Joe O’Shaughnessy
Russ Scherber
Stan Theis
Robert Hansen
Steve Pettersen
Paul Jordan
Gary Erlander
Nate Duda
Dave Ybarra
Ryan Johnston
This newsletter is intended to communicate information which may be useful to individuals who participate in one or more of the Twin City Pipe Trades
benefit plans. Receipt of this newsletter does not imply that you are entitled to benefits under any plan, and this newsletter does not take the place of or
modify the terms of any Twin City Pipe Trades Benefit Plan, or Summary Plan Description (SPD) which describes the benefits available under those plans
or modify eligibility or other participation criteria.
TCPT
TWIN CITY PIPE TRADES
SERVICE ASSOCIATION
700 Transfer Road
St. Paul MN 55114
PRSRT STD
U.S. Postage
PAID
Permit 2977
Saint Paul, MN