Spring 2022 Spotlight on Benefits Newsletter Now Available
IN THIS ISSUE:
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What is an Annual Funding Notice (and why it’s good news). By law, the Plans are required each year to distribute an Annual Funding Notice of the Basic Pension Plan’s financial status, including the Plan’s funding percentage, assets and liabilities, and a description of the benefits guaranteed by the Pension Benefit Guaranty Corporation (PBGC).
This year’s notice reports that the Basic Pension Plan remains healthy and ready to meet the needs of this and future generations of DGA members, with a funded percentage of 90.7% as of January 1, 2021, with liabilities accrued on a 6.9% assumed rate of return. The funded percentage increased more than 2% from the 88.6% funding as of January 1, 2020. The Basic Pension Plan remains in the Green Zone under the Pension Protection Act (PPA), as it has since the PPA was enacted in 2006. As of January 1, 2021, the Basic Pension Plan has a fair market value of more than $2.2 Billion. Read the full notice here.
- New DocuSign Feature in myPHP. Step-by-step instructions on how to electronically complete, sign and submit certain forms on myPHP.
- Get Answers to Your Prescription Drug Questions on Caremark.com and the CVS Caremark Mobile Apps.
- Tips to Ensure Continuity of Health Plan Coverage.
- Women’s Health and Cancer Rights Notice
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