Secure Retirement Basics
1. Your retirement benefit is based on your account balance in the plan at retirement. In addition to employer contributions, your account receives a proportionate share of investment gains and is reduced by investment losses, if any, as well as administrative expenses of operating the plan.
2. The amount contributed on your behalf is determined by the Collective Bargaining Agreement between your employer(s) and SEIU 775.
3. Your retirement plan is NOT a government-sponsored pension plan. Your participation does not prevent you from taking a Social Security benefit.
4. Your plan only accepts employer contributions. You cannot contribute to the plan at this time. You may wish to increase your retirement savings by contributing to another savings vehicle such as an IRA (Individual Retirement Account) or a Roth IRA (a post-tax income account).