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Protecting Your Future / While you Build ours
Protecting Your Future / While you Build ours
Protecting Your Future / While you Build ours
Protecting Your Future / While you Build ourse
Protecting Your Future / While you Build ours
Protecting Your Future / While you Build ours

Security Benefit Fund

Eligibility

Who is Eligible for Benefits?

You are eligible for benefits from the Security Benefit Fund at any time, provided you have a properly documented claim for benefits (as described below) and that you have a balance in your account upon receipt of your application.

Contributions to your account become available to you after they have been posted to your account each quarter. Benefits paid to you from your account are deducted from your balance on the date paid. The amount of benefits available to you is limited to the balance in your account at the end of your last quarterly statement balance less any payments made since that date.

For Example:

If your balance on your March 31 statement is $13,000

and on May 15 you withdraw a benefit of 6,000

the balance now available for benefits is $ 7,000

Contributions are added to your account only when your quarterly statement is issued.

How Long is a Claim Eligible for Reimbursement?

Generally, your Security Benefit Fund will accept a properly documented claim for benefits for dates of service up to one year old.

What Happens if I Don’t Have a Sufficient Balance to Cover my Claim?

If, at the time your application is received, your claim is for an amount greater than your account balance, you will only receive reimbursement for up to your account balance.

For Example:

If your account balance is $7,000

and you submit a claim totaling 8,500

the amount of your reimbursement will be $7,000

If additional contributions are subsequently received, you may resubmit your claim for further reimbursement. However, if at the time you apply for a supplementary vacation benefit or severance benefit you are unable to receive the maximum amount allowed, you may NOT apply for an additional amount at a later date.

What Kind of Documentation Must I Submit with my Claim for Benefits?

Most claims require documentation to support the services provided and certain types of claims must be confirmed with the provider of the services before payment can be made. The Fund Office does need a reasonable period of time to properly review your claim and process it for payment. Benefit checks are generally processed twice each week.

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