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What is the qualifying period for MPI?

4. How many hours must I work to be eligible? To qualify for healthcare insurance coverage through the MPIPHP, you must first be credited with 600 hours of work within a 6-month qualifying period. Contributions are made on the basis of 60 hours of work per week.

What is the retirement age for Mpiphp?

If a participant has at least 30 Qualified Years and wants to retire before age 65, he/she may receive an Unreduced Early Retirement Pension Benefit if certain requirements are met. Participants may retire with a Reduced Early Retirement Pension Benefit as early as age 55.

Does mpiphp have life insurance?

As an eligible Participant, you have an extensive package of benefits available to you. These benefits include comprehensive medical, prescription drug, vision, dental and life insurance, as well as a behavioral health and wellness program.

How many hours do you need for Mpiphp qualifying?

After satisfying the initial eligibility requirement of 600 work hours in one six-month qualifying period or two consecutive qualifying periods, Participants must work at least 400 hours in subsequent qualifying periods to maintain health benefits during the corresponding eligibility period.

How many hours do you need for MPI?

MPI HEALTH PLAN FOR ACTIVE PARTICIPANTS. Eligibility for a six-month benefit period is determined on a monthly basis and is based on a six-month qualifying period. After you have earned a combined total of at least 600 hours in two consecutive qualifying periods.

What is the mpi individual account plan?

The Individual Account plan is much like a traditional 401(k) plan in that upon retirement, you will have access to a pre-tax amount equaling the total contributions as well as any interest earned. You are vested in this plan after a qualified year with at least 400 hours worked.

Who is the CEO of Mpiphp?

Two weeks after her return to the board on June 16, David Asplaud, the PH Plans chief executive officer, sent IATSE local business agents a letter informing them that the Plans would be easing the requirements that their members need to qualify for health coverage in order to help participants and dependents

How does MPI pension work?

Participants to the MPI Pension Plan participate in two Pension Plans funded by your employer. The longer you work under a union contract, the more contributions your pension will receive and the more benefits you will have. The two plans are the Defined Benefit Plan (DB) and the Individual Account Plan (IAP).

How does my pension get calculated?

Multipliers are sometimes known by other terms, such as accrual rate or crediting rate but they mean the same thing. A typical multiplier is 2%. So, if you work 30 years, and your final average salary is $75,000, then your pension would be 30 x 2% x $75,000 = $45,000 a year.

How many hours do you need for MPI?

MPI HEALTH PLAN FOR ACTIVE PARTICIPANTS. Eligibility for a six-month benefit period is determined on a monthly basis and is based on a six-month qualifying period. After you have earned a combined total of at least 600 hours in two consecutive qualifying periods.

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