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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
UA Local 638 Educational Fund

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2020 Income allocation and administrative charge for the Security Benefit Fund. Click here - (6/8/2021)

The 2020 income allocation and administrative charge for the Security Benefit Fund have been posted to participants’ accounts.

For your information, the income allocation percentage was 2.32% of the participant’s average balance in 2020.  This average balance is determined by taking the four quarterly closing balances in 2020, adding them up and dividing by four.  This average balance is then multiplied by the percentage and the amount is debited to the participants’ accounts.

The administrative charge is $663.03 per participant and every account that can sustain the charge has had this amount deducted. All members with a balance of $10,000 or less and deceased members with a balance greater than $50.00 were not charged a fee. Normally we do not charge for those under $2500 however the Trustees made a change at the last SBF meeting to change it for this year to $10,000 and under.


 


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