Dear Local 5 Welfare Fund Participant:

The Board of Trustees is committed to maintaining the financial health and safety of the Local 5 Welfare Fund (“Fund”) and a high level of service to participants. 

We want to inform you of upcoming changes at the Fund.  After careful consideration of pertinent factors including plan demographics, contribution levels, benefit costs, administrative expenses, the current economic environment, and, importantly, legal and regulatory requirements and guidance related to the implementation of the new Patient Protection and Affordable Care Act, the Board of Trustees has determined these changes are necessary, prudent and in the best interest of the Fund and its participants.

On December 31, 2013, the Fund’s supplemental health reimbursement benefit will terminate.  Eligible expenses incurred through December 31, 2013 may be submitted to the Local 5 Funds’ Office for reimbursement until March 31, 2014.  Expenses incurred after December 31, 2013 will not be eligible for reimbursement. 

As of January 1, 2014, the Fund’s life insurance benefit will be reduced to $15,000 for active participants and $10,000 for retiree participants.  The accidental death and dismemberment insurance benefit for active participants will be reduced to $15,000.

These changes do not affect any health or insurance benefits you may have through the Boilermakers National Health and Welfare Fund.

This is intended to constitute notice and summary of material modification and/or reduction of plan benefits, to the extent same may be required.

If you have any questions, please call the Local 5 Funds’ Office.

BOARD OF TRUSTEES OF BOILERMAKERS LOCAL NO. 5 WELFARE FUND