6/9/2017 - New Funds and Recordkeeping for Local 25's Annuity Plan
Effective July 5, 2017, Milliman will be the new recordkeeper for the IUOE Local 25 Annuity Plan. The Board of Trustees, after substantial deliberation and consultation with professional advisors, has decided to change recordkeeping providers from Prudential to Milliman. This change will allow the Plan to access more investment options with transparent pricing structures and very reasonable costs. This, of course, ultimately benefits our members as they plan for a meaningful retirement. Because of this change, we are utilizing different investment funds with better return on investment and rates. Your choices for which kind of fund you have invested in will transfer over, meaning your money will be transitioned into similar funds. The biggest benefits to our members because of this transition will be better rates, better customer service and more transparency. You should be receiving information via mail from Milliman and Local 25's Plans Office regarding the transition. Your money will be transferred over from Prudential to Milliman automatically. Log into the Members Only Section to find the "Annuity account (how to)" document (under Benefits in depth) to create an account with Milliman. If you have any questions regarding this change, feel free to call Larry Schleyer, Plans Adminstrator at the Plans Office at (800) 548-6662 or any of your Business Agents or President/Business Manager Jerry Abell.