Plan Administration and Compliance

When you're a contributing employer, the National IAM Benefit Trust Fund has you covered. Your negotiated contribution rate pays for all administrative costs of the plans including recordkeeping, audits, legal fees, IRS Form 5500 filings and actuarial studies.

Your contributions also cover the cost of obtaining ongoing IRS tax qualification, which assures tax deductibility of your contributions.

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The Benefit Trust Fund covers all administrative and compliance duties of the Fund.

 

Frequently Asked Question (FAQ)

Does the Fund offer Retiree Health Care Plans?

Yes. Employers that have negotiated a Benefit Trust Plan for their Active employees may also establish a Retiree plan.

Will the Fund cover Non-Bargaining Unit employees also?

Yes, the Fund will cover Non-Bargaining employees as long as the covered Bargaining Unit employees make up at least two-thirds of the group.

Does the Fund offer "individual" plan coverage?

No, the Fund is legally required to offer employer-sponsored benefit plans. As a Taft-Hartley Fund, our plans are negotiated through collective bargaining.

How do I obtain a quote or proposal of benefits?

For Medical Coverage:

Please go to Developing a Plan Proposal on this site for a list of the information needed for a medical plan proposal. You can also view sample schedules of benefits for Benefit Trust Fund medical coverage.

For Dental and Vision Coverage:

Schedules of the Dental and Vision coverage, including rates, are available on this site. As these benefits are pre-rated, it is not necessary to provide pre-enrollment data for review.

Does the Fund offer coverage for groups of fewer than 10 employees?

Yes—no group is too small to participate in the Benefit Trust Fund.

If I negotiate a Medical plan, do I also have to include the Dental and Vision Plans?

No. You can negotiate plans individually, or in any combination. The exception is for Short-Term Disability and Life and AD&D; these coverages are available only with a Medical plan, though they are not required.

How often are rates subject to change?

All Plans are reviewed annually; notification of rate changes is provided 30-60 days in advance of the renewal effective date.

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