|Death Benefits - Benevolent Trust Fund|
Please contact the Local Office (630) 668-4337 to report a passing of a member.
Benevolent Trust Fund Description
The Benevolent Trust Fund (BTF) provides death benefits to beneficiaries of participating members of the Graphic Communications Conference of the International Brotherhood of Teamsters (GCC/IBT).
Funding for the plan is provided through special per capita taxes and investment earnings. Fund assets are segregated from union assets and held in a trust fund maintained for the exclusive purpose of providing death benefits to beneficiaries of deceased eligible members and for defraying reasonable administrative expenses of the plan. The trust fund is registered with the Internal Revenue Service and is qualified as a tax-exempt organization under the Internal Revenue Code
The fund is administered by a board of trustees. BTF board members are the members of the General Board of the GCC/IBT. The day-to-day operations of the plan are overseen by a plan administrator who is appointed by the board of trustees. The plan administrator reports to the Executive Committee of the board of trustees between trustees' meetings.
All lithographic, photoengraver, photo industrial and bookbinding members of the GCC/IBT participate in the plan. All members of newly established local unions also participate in the plan. All full members of the GCC/IBT in good standing are eligible to participate, regardless of age.
All new participants of the Benevolent Trust Fund contribute a one-time inaugural fee of $8.00. Thereafter, the special per capita tax for new participants and the tax for all non-exempt existing participants is $1.00 per month. Certain participants are exempt from the special per capita tax. For example, exemptions include participants who are serving in the armed forces of the United States or Canada and participants who have honorary life membership.
The amount of the death benefit payable on behalf of a deceased participant depends on the status of the participant at the time of death. Specifically these factors include whether the participant was active or retired, whether the participant was exempt from the special per capita tax, years or months of continuous participation in the plan, and date of death. Effective for deaths of active members occurring on or after July 1, 2000, benefits range from $800 for very new members (up to seven months of membership) to $2,500 for those with at least three years of membership. Benefits are also payable on behalf of eligible retirees.
The International Graphic Communications Conference/IBT has changed the Benevolent Trust Fund payment procedure.
The new payment procedure is the following:
Members who retired before January 1, 1990 the maximum payout is $2,000
Members who retired before January 1, 2017 the maximum payout is $2,500
Members who retire after January 1, 2017 the maximum payout is $3,250
Active members’ payout is based on years of service with a maximum of $3,250
The Benevolent Trust Fund is a death benefit awarded to the beneficiary named by the member.
If you have questions or unsure who your beneficiary is, please contact our office at your convenience.