Dear Brothers and Sisters,
I have dedicated my report to only one subject because I, along with Justin and the rest of my staff, agree it is the most value we can provide the clients. And we need to continue to capitalize on it now while the opportunity is at hand.
We frequently are asked about taking a loan against a member’s 401(k) balance. The Pipeline Industry 401(k) Plan does not allow participant loans. 401(k) loan repayment must be set up as a deduction from payroll. Due to the nature of the construction industry, working for different contractors for various time frames doesn’t allow for consistent repayment of the loan, which would cause the loan to be in default.
Health Reimbursement Arrangement (HRA) – Automatic Deposit
If participating in the HRA Automatic Deposit program, HRA Explanation of Benefits Forms (EOBs) will no longer be mailed to you but can be accessed at any time under the Members Login section at www.pibf.org. The EOB will be available to view once the HRA claim has been processed and deposited into your account.
Requirement to Notify PIPF of Retirement Intentions
The PIPF sends all participants nearing their normal retirement age a letter to verify that the participant is aware that they can take their retirement and that the participant can retire immediately, or at the normal retirement age, or wait. In any case, the participant must send the completed form back so the PIPF staff will know the participant’s retirement intentions. As a reminder, the Trustees previously approved the age 62 in-service distribution rule which allows a participant to retire at age 62 and draw the monthly pension and continue to work. A participant can choose to wait past the normal retirement age to retire, but the final required date to retire under IRS rules is 70½.
Patricia Cox Reif (Patti) joined the PIBF Job Control Department in July of 2008 working with hours reporting, eligibility, and contractor fringe contributions. In September of 2017, she began training for the position of Assistant to the Director and transitioned into that position full-time on June 1, 2018. Patti and her husband of 32 years, Bernie, live on ten acres in Bixby where they enjoy a great view, porch breezes, and farm-fresh eggs. They have two adult children, Amber and Evan, and three grands, Molly, Jacy, and Aidan. Patti is an active member of the Ladies of 798 (as is Bernie) and loves the time spent with members during union meeting weeks. “Working at PIBF is both a pleasure and a privilege. It is an absolute joy to serve our membership. I have made some true, lasting friendships along the way and nothing pleases me more than when one of them calls me Sister! Thank you for allowing me to be part of the family.”
Lisa Willis started with PIBF 17½ years ago in December 2001. She is the first face you see when you visit our office as she serves as the receptionist. She also processes claims. Lisa has been married to David for 11 years and has a daughter, Jordan, who is married to Caleb. Presley Jo is her 4-year-old granddaughter. Family is Lisa’s life! She loves being Presley’s Mimi. She also enjoys “Junking” for stress relief, and if she sees something that reminds her of you, she will purchase it for you. Putting a smile on someone’s face is always her goal. Lisa says, “It is truly a pleasure to be a part of the PIBF/798 family. I do my best to help or find the person that can help you with whatever you need when you call or come to the PIBF office. I enjoy getting to put a face with all the voices I hear each day. I feel like I’m helping the family. My job is one of the many blessings in my life.”
MORE 798 STORIES
Dear Brothers and Sisters, I have dedicated my report to only one subject because I, along with Justin and the rest of my staff, agree it is the most value we can provide the clients. And we need to continue to capitalize on it now while the opportunity is at hand.
Dear Brothers and Sisters, I hope everyone’s year has gotten off to a good start. At the time of this writing, union contractors have picked up three more jobs in Texas under the Market Recovery package. This is great news, and we anticipate more to come.
At the moment, work is slow at every level. In dispatch, we are diligently looking for work with other local unions by making phone calls every day.
New Pension Tax Table Installed Pension tax tables are updated in the first quarter each year. The new table for 2020 will be installed effective March 1, 2020. Please review your deposit amount as of that date and after and let us know if you need to make any changes.