A Guide to Your Benefits from the Seafarers Pension …

GUIDE TO YOUR BENEFITS FROM THE

SEAFARERS PENSION PLAN

March 2019

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TABLE OF CONTENTS

INTRODUCTION INFORMATION YOU SHOULD BE AWARE OF WORDS YOU NEED TO UNDERSTAND WHAT PENSION BENEFITS CAN I RECEIVE FROM THE PLAN? WHEN DO I BECOME A PARTICIPANT IN THE PLAN? WHICH DAYS CAN BE COUNTED AS DAYS OF SERVICE? IS THERE ANY WAY I CAN LOSE CREDIT FOR DAYS I HAVE WORKED? HOW DO THE BREAK IN SERVICE RULES WORK? WHAT DAYS CAN BE COUNTED TO PREVENT A BREAK IN SERVICE? WHAT ARE THE REQUIREMENTS FOR EACH OF THE PENSION BENEFITS? HOW MUCH MONEY CAN I RECEIVE AS A REGULAR NORMAL PENSION BENEFIT? HOW MUCH MONEY CAN I RECEIVE AS A DEFERRED VESTED PENSION BENEFIT? HOW MUCH MONEY CAN I RECEIVE AS AN EARLY NORMAL PENSION BENEFIT? WHAT IS THE EARLY NORMAL PENSION SUPPLEMENT? HOW MUCH MONEY CAN I RECEIVE AS A SPECIAL EARLY NORMAL PENSION BENEFIT? HOW MUCH MONEY CAN I RECEIVE AS A DISABILITY PENSION BENEFIT?

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HOW WILL MY PENSION BENEFIT BE CALCULATED IF I WORKED BOTH AS A

SEAMAN AND A BOATMAN?

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WHAT IS THE 60 MONTHS GUARANTEE?

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IF I DIE, WHAT PENSION BENEFITS CAN MY SPOUSE RECEIVE?

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CAN MY EX-SPOUSE RECEIVE PART OF MY PENSION BENEFITS?

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HOW DO I APPLY FOR PENSION BENEFITS?

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WHEN DO PENSION BENEFITS BEGIN?

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WHAT IS THE PENSIONER DEATH BENEFIT?

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WHO CAN BE MY BENEFICIARY AND HOW MUCH MONEY CAN THEY

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RECEIVE?

WHAT IS THE FUNERAL EXPENSE DEDUCTION?

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HOW DOES MY BENEFICIARY APPLY FOR MY DEATH BENEFIT?

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ONCE I BECOME A PENSIONER CAN I CONTINUE TO RECEIVE

HEALTH CARE BENEFITS?

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WHAT IS THE REIMBURSEMENT TOWARDS MEDICARE PREMIUMS?

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IF I AM WORKING, WILL I AUTOMATICALLY RECEIVE MY PENSION AT

RETIREMENT AGE?

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CAN I CONTINUE TO WORK AFTER RECEIVING MY PENSION?

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HOW WILL SERVICE UNDER ANOTHER MARITIME PENSION PLAN

AFFECT MY SEAFARERS PENSION?

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WHAT RIGHTS DO I HAVE IF THE PLAN DENIES MY APPLICATION FOR PENSION?

WHAT HAPPENS IF I RECEIVE AN OVERPAYMENT FROM THE PLAN? ARE MY BENEFITS INSURED? HOW WILL THE PLAN NOTIFY ME IF THERE ARE ANY CHANGES TO MY BENEFITS? WHAT LEGAL RIGHTS DO I HAVE? APPENDIX

? LANGUAGE TRANSLATION SERVICES

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INTRODUCTION

This booklet describes the benefits available to you from the Seafarers Pension Plan.

The Seafarers Pension Plan is a multi-employer employee benefit plan. It provides defined benefit pensions for employees of employers who have collective bargaining agreements with the Seafarers International Union of North America, Atlantic, Gulf, Lakes, and Inland Waters ("SIU" or "Union") or affiliated unions. The Plan is funded through contributions made by these employers. The contribution rate is actuarially determined. The assets of the Plan are held in trust for the participants and beneficiaries.

This booklet contains important information about your pension benefits. Read it carefully and keep it for future use. You may also view the booklet online at : About / Benefit Plans / Pension Plan. In the event of any significant changes to these benefits, the Plan will mail you a notice of the changes; or, if you have consented, will email these notices to you. Notice of benefit changes will also be posted online at . If you have questions, contact the Plan at 1-800-252-4674. Please note that the most updated version of this Summary Plan Description booklet is always on the Seafarers website.

For disabled participants, this book also is available in large print and recorded versions. To request these versions, you can contact the Plan's office at 1-800-252-4674 or via mail at:

Seafarers Pension Plan 5201 Auth Way Camp Springs, Maryland 20746

Language translation services are available for participants who need assistance with English. See the Appendix of this booklet for more information or call 1-800-252-4674.

This booklet is referred to as the Summary Plan Description or SPD. This booklet is only a summary of the Seafarers Pension Plan. The Rules and Regulations of the Plan and the Trust Agreement, together with laws that apply to benefit plans, control the payment of benefits.

Benefits paid to participants are governed by the terms of the Plan in effect at the time of retirement and by any later amendments that affect their benefits.

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