SEIU 775 SECURE RETIREMENT PLAN

Here’s what is included on your statement:

Total hours reported – this equals all caregiving hours reported between March 2016 and February 2017.  You must work 300 hours per year for three years without a permanent break in service to vest in the plan.

Status – your status is currently unvested because even if you worked 300 hours or more in the first plan year, you must have three years in order to vest in the plan. In addition to meeting this requirement, you must also meet the normal retirement age of 65 to withdraw a benefit.

Total contributions made on your behalf – this reflects contributions made by your employer on your behalf.¹

Dividends/(Adjustments) – this reflects an increase in account value approved by the plan.

Gains/(Losses) – this reflects an increase in your account value due to interest income earned by the plan.

Expenses – this reflects expenses allocated for the operation of the plan in the first plan year.

Year-end balance – the total account balance as of the end of the first plan year.  This reflects the sum of items three (3) through six (6) above.

For a more detailed copy of this letter see www.myseiubenefits.org/retirement/statement/english

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