Your Secure Retirement Plan
It's Easy to Get Started
Participating in the Secure Retirement Plan is easy. You just need to start working as a caregiver.
After 6 months of working as a caregiver, you will get contributions from your employer based on the number of hours you work. The contributions are automatic and purely an added benefit to you.
During the 7th or 8th month of working as a caregiver, you will get a welcome letter in the mail containing information on how to create your retirement account and elect a beneficiary.
How do you get your retirement money?
How you get your retirement account depends on how old you are and whether you are still working as a caregiver.
|Under age 65 and still working as a caregiver||You qualify for a retirement payment when you reach age 65.|
|Under age 65 and NOT working as a caregiver||
|Over 65 and still working as a caregiver||Once your account reaches $2,400, you can start receiving a minimum monthly payment of $100, depending on your age and account balance*.|
|Over age 65 and NOT working as a caregiver||
|Over age 72 and NOT working as a caregiver||
*Your payment is based on whatever is the bigger amount: $100, OR your current account balance divided by your IRS single life expectancy value. For example, if you are 65 and your balance is $30,000, your monthly payment would be $119 (minus 20% mandatory withholding).
For more information about the SEIU 775 Secure Retirement Plan, contact Milliman at 1-800-726-8303, from 5 a.m. to 6 p.m. Pacific time, Monday through Friday. Help is available in your language.
In the event of a conflict between this information and the Plan document, the Plan document controls.