The Company has notified the UAW that the deposit date for the one-time $1,000 401(k) contribution for traditional members will be deposited into the member’s FCA US LLC UAW Savings account on March 6, 2020.
If the member does not have an account with Merrill Lynch, an account will be created on their behalf.
In order to be eligible for this contribution, the member must have met one of the following criteria as of January 6, 2020:
- Active with seniority.
- On temporary layoff status.
- On pre-retirement leave.
- On leave pursuant to the Family Medical Leave Act.
- On vacation, receiving paid absence allowance, receiving bereavement pay, or on jury duty.
- On leave of absence beginning not earlier than 90 days prior to January 6, 2020.
Note: Members who met the criteria above and later retired prior to March 6th are eligible for this contribution. Members who retired prior to the January 6, 2020 effective date will not be eligible.
Please be advised that the normal deferral window for profit-sharing will not be available for this year’s profit-sharing payout. Currently, the company is working on a system so members are able to separate the percentage of contributions between their regular pay check, bonus and profit-sharing payments.
Attached you will find a sheet that will give some detailed dates and examples of how members can make changes to their contributions to become effective when the profit-sharing payment is paid out.
UAW Savings Plan
Pre-Tax, Roth and After-Tax Saving Elections
Per the 2019 negotiations, the limitation on the percentage of contribution that can be deferred has been lifted. Members are now able to contribute up to 100% of their regular pay check along with any Bonus or Profit Sharing payments. However, systematically the option to separate contributions between these payments is currently in development by the company and will not be in place in time for the Profit Sharing payout.
Members who are eligible to make a deferral election under the plan and who would like to make a change to increase/decrease their contribution percentage to their Profit Sharing Payment must do so before February 28,2020.
The chart below shows how the members Profit Sharing payment and regular pay check will be impacted.
|WEEKLY PAID EMPLOYEES||•|
|401(k) Rate in effect 2 PM at ML||Payment Effected||Payment Date|
|February 28, 2020||Profit Sharing Payment||March 13, 2020|
|February 28, 2020||March 6 regular pay||March 6, 2020|
|March 6, 2020||March 13 regular payroll going forward unless changed||March 13, 2020|
|BI-WEEKLY PAID EMPLOYEES|
|401(k) Rate in effect 2 PM at ML||Payment Effected||Payment Date|
|February 2S, 2020||Profit Sharing Payment||March 13, 2020|
|February 25, 2020||March 6 regular pay||March 6, 2020|
|March 10, 2020||March 20 regular payroll going forward unless changed||March 20, 2020|
Example 1: If Member’s current Contribution percentage is at 100% and member does nothing to change their contribution then their profit sharing and regular pay check will be subject to 100% contribution. Member’s full profit sharing payment along with their regular pay check will be deposited in to their 401k account.
Example 2: If Member’s current contribution percentage is at 100% and member changes contribution to 0% before February
25, 2020, then their March 6, 2020 regular pay check will be subject to no contribution deposited into their 401K account.
No contribution will be taken from their Profit sharing payment according to the pay date on the chart above.
If the member wants to revert back to their original contribution percentage, then they may change their contribution on March 6, 2020 before 2:00 PM for the deduction to become effective on March 13, 2020 regular pay check.
All In-Progression Members
A letter has been mailed to all In-progression members (hired in 2007 and after) to make you aware of upcoming changes to your coverage under the FCA US LLC Health Care Plan for Represented Employees. These changes are as a result of contract negotiations and take effect on February 1, 2020.
You are currently enrolled in the Blue Cross Blue Shield of Michigan or Medical Mutual of Ohio Standard Care Network (SCN) medical plan option for In-Progression employees.
Effective February 1, 2020, medical coverage for you and your covered dependents will automatically be transferred from the SCN medical plan option to the BCBSM or MMO Preferred Provider Organization (PPO) medical plan option for In-Progression employees.
Starting February 1st you can elect to switch your coverage from the PPO to the SCN option and you do so before March 31, 2020.
- If the election is made during the month of February 2020, coverage under the new option will be effective April 1, 2020.
- If the election is made during the month of March 2020, coverage under the new option will be effective May 1, 2020.
- If no election is made in February or March, you will remain in the PPO. You will not be able to elect a different option until December with a February 2021 effective date. Going forward, regular rolling enrollment rules will apply for any health care election event.
- Elections must be made online at Benefit Connect or call 888-409-3300.
OPTIONAL INSURANCE (OGL/DGL/OGA/VEDB) PAYMENTS FOR MEMBERS NOT ACTIVELY AT WORK
The Attached Guide provides an overview of the optional insurance plans payment process for an active employee who is no longer actively at work (due to layoff or leave of Absence).
The Spouse Re-Verification deadline has been extended through
July 12th 2019. There are no plans to extend the deadline any further.
Members are encourage to submit any documents that have both names on the same account (dated within 6 months). This can be a bank statement, tax or mortgage bill or auto insurance. The key is that both names must be on the same document.
UAW SAVINGS PLAN BENEFICIARY
Beginning May 2, 2019, Beneficiary assignments will be handled at Merrill Lynch. All UAWSP beneficiary functionality will be turned off at Benefit Connect as of that date for the UAWSP (401(k)) only. All existing beneficiaries will be directly converted from Benefit Connect to Merrill Lynch.
This new Merrill Lynch service will enable participants direct access to their UAWSP beneficiary via Merrill Lynch. This will be seen by the participant every time they log into their UAWSP account via the web or mobile. Participants quarterly Merrill Lynch statements will also list their existing beneficiary on file for the UAWSP or indicate if there is NOT one set up.
This should greatly reduce the number of participants who do not set up a beneficiary for their UAWSP account.
To All Retirees of UAW Local 1435 enrolled with Aetna Medicare Advantage Health Plan.
Promedica dispute with Aetna is over.
Promedica announced that Aetna Medicare Advantage Members no longer have to worry about losing coverage for services provided by Promedica Physicians in 2019 and beyond.
Davis Vision is now part of Versant Health. This will not change or impact vision benefits, but the logo will be updated later this year. Here are some answers to some Frequently Asked Questions (FAQ):
1.Will there be changes to our provider network? No
2.Are pricing or billing procedures changing? No
3.Will our group number stay the same? Yes
4.Will there be changes to the website for Davis Vision? The web address remains www.davisvision.com.
5.Will the telephone and fax numbers be changing? The telephone and fax numbers will remain the same along with mailing addresses.