BFO BenefitSpotlight Winter 2022-23
WINTER 2022/2023 BENEFITSPOTLIGHT CONTENTS Latest News and Highlights Page 2 Compliance Mailing Page 2 40th Grand Lodge Convention In Review Page 3 EyeMed and Delta Dental News Page 6 New John Hancock Target Date Funds Page 7 Understanding Asset Classes Page 7 CIGNA HEALTH Explore the multitude of tools, resources, rewards and programs the Benefit Trust SERVICES & Fund provides through Cigna. SAVINGS Page 4
COMPLIANCE Latest News and Highlights MAILINGS The following compliance mail- Happy New Year from the IAM National ings and regulatory notices were Benefit Funds Office! mailed from the IAM National Benefit Funds Office in 2022: Our end-of-year edition of the Benefit Spotlight Newsletter recaps the major activities of each of the Funds in 2022 › 2021 401(k) and BTF SAR and highlights what’s to come in 2023. & HIPAA Notice of Privacy Learn more about each of the Funds Practices and stay up-to-date on the › 2022 401(k) QDIA/ACA/Fee latest Benefit Funds Office Disclosure news by visiting our website at https://www.iambfo.org. › 2022 Annual Federal Tax INTRODUCTION OF NEW TRUSTEE V3locity or “V3”, a benefits adminis- Withholding Notice tration system designed to enhance › 2022 NPF Social Security Andy Chen be- the efficiency, productivity, and func- Administration Letters came an Em- tionality of Fund administration, in › 2022 NPF 104(d) Notice/ ployer Trustee early 2023. Our new V3 Employer Multiemployer Summary of the IAM Na- Self-Service portal (“ESS”) will offer Report tional Pension electronic billing and contribution › 2022 NPF Annual Benefit Fund in June remittance, real-time enrollment, and Statement 2022. eligibility reporting, as well as other › 2022 NPF Summary of Chen became features to help streamline adminis- Material Modifications Andy Chen Vice President trative duties. Mid-to-late 2023, the and Treasurer Fund will also introduce its first V3 › 2022 Annual Funding Notice for General Dynamics in April 2020. Participant Self-Service portal (“PSS”) › 2022 BTF MER, NCC and His current responsibilities include giving employees access to up-to- WHCRA treasury, financial planning and anal- date information on their covered ysis, pension asset management, risk benefits, and eligible dependents, › 2023 BTF Summary of and insurance management, and relat- as well as important Plan documents Benefits and Coverage ed international activities. He is also a and notices. (A, A+, B, C, D2) member of General Dynamics’ Invest- Beginning in 2023, all BTF contribut- › 2023 NPF Summary Plan ment Committee, which oversees the ing employers will be required to use Description company’s defined contribution plans. ESS to complete their enrollment and Chen joined the company in May eligibility reporting. Once ESS goes NOTE: The IAM National Pension Fund 2011 as manager of strategic plan- live, the Fund will no longer accept will be referred to as NPF, and the ning. He served as Manager, and lat- paper enrollments or email requests. National IAM Benefit Trust Fund will er Director, of Financial Planning and Employers should ensure they do not be referred to as BTF. Analysis until September 2017, at miss any critical BTF instructions or which time he was appointed to Staff information by confirming or updat- Vice President of Financial Planning ing their key contact(s) for receiving and Analysis for General Dynamics V3-related communications by email- If you did not receive a specific Information Technology. ing the Employer Contact Change compliance mailing, please Form to [email protected]. Their contact the appropriate IAM To learn more about Andy Chen, key contacts must include anyone National Pension Fund/401(k) Plan please visit our website here. who is responsible for submitting en- Customer Service at 1-800-424- BTF V3 TRANSITION rollment or eligibility files to the Fund. 9608 or the National IAM Benefit We appreciate your patience and Trust Fund Customer Service at The National IAM Benefit Trust Fund continued engagement during this 1-800-457-3481. (the “BTF”) will begin transitioning to transition. 2
IAM GRAND LODGE CONVENTION IN REVIEW October 2-7, 2022, the IAM National Benefit Funds Office participated in the 40th IAM Grand Lodge Conven- tion in Las Vegas, NV. Under the theme “IAM Standing Strong,” the Convention was the first major in-person meeting held by the IAM Grand Lodge since the pandemic. In one of the largest booths 1 at the Convention, the Benefit Funds Office offered Fund education on floor- to-ceiling digital monitors while IAM members played Vegas-style games or took advantage of complimentary wellness massages. Our Education representatives met one-on-one with participants to answer questions about the benefits offered by each of the Funds and connected with the people we serve everyday. If you missed us in Vegas, be sure to catch the Benefit Funds Office booth at the 41st IAM CLICK HERE TO WATCH BOOTH VIDEO 2 Grand Lodge Convention in New York City in 2024! 3 4 5 6 Photos Left to Right: 1) The IAM Executive Council including IAM National Benefit Funds Office (IAMBFO) Union Trustees Dora Cervantes, Rickey Wallace, Steve Galloway and Brian Bryant posing on the Convention stage. 2) Entrance into the IAMBFO booth. 3) IAM Delegate playing Plinko game for special IAMBFO prize or grand prize entry. 4) Education team members, Elo Rosales and Cori Horowitz, speaking to IAM members. 5) IAMBFO Executive Leadership and Education Team left to right: Ned Johnson (Manager), Wendy Frye (Chief of Staff), Fred Ross, Sunni Isaac, Parris Celestine, Ryk Tierney (Executive Director), Elo Rosales, Cori Horowitz, Brittany Plummer and Damien Anderson. 6) IAM Delegate sporting his healthy prize from participating in the Plinko game. 3
2 1 3 4 5 6 7 8 Photos Left to Right: 1) Informational brochure about each of the Funds folded open to reveal an infographic poster. 2) Sunni, Damien and Devika, engaging with more IAM members. 3) Entrance into the wellness area organized in partnership with Cigna. 4) Devika and Brittany take a short break to pose for the camera. 5) Trustee, Dora Cervantes stops by the IAMBFO booth. 6) Cori and Fred help answer an IAM member’s questions. 7) Ned greets an IAM member as he explores the special IAMBFO keepsakes. 8) Closeup on the new Journey to Retirement magazine to help IAM members understand their retirement options. 4
Benefit Recipient Checkup: Review Your Federal Income Tax Withholding Elections If you are a Benefit Recipient of the IAM PLEASE NOTE: The IRS has released National Pension Fund (the “Fund”), a revised Form W-4P and a new Form you were given the opportunity to W-4R (Withholding Certificate for Non- choose whether you want federal in- periodic Payments and Eligible Roll- come tax withheld from your pension over Distributions). Beginning January payments when you began receiving 1, 2023, you must use these new and them. In accordance with the Tax Eq- revised forms to update your federal uity and Fiscal Responsibility Act of tax withholding elections with the Ben- COMING SOON efit Funds Office. Benefit Recipients 1982 (“TEFRA”), the IAM National Ben- 2023 2023 retiring on or after January 1, 2023, Y PLAN DESCRIPTION efit Funds Office (the “Benefit Funds SUMMAR Office”) issues this annual notice to should use the revised IRS Form W-4P. SUMMARY PLAN DESCRIPTION remind you that you may change your Your current federal income tax with- federal income tax withholding elec- holding elections will remain in ef- NEW SUMMARY PLAN tions at any time. If you do not wish to fect until you submit a new IRS Form DESCRIPTION IS COMING make any changes to your current fed- W-4P with the Benefit Funds Office. The Board of Trustees are pleased eral income tax withholding elections, You may log on to our online portal to present you with the 2023 no action is required. at https://participant.iambfo.org/log- Summary Plan Description (SPD) Please read the following informa- in/ to update your federal income tax summarizing the IAM National tion carefully and contact the Bene- withholding elections or download Pension Fund’s Plan document. fit Funds Office at 1-800-424-9608, the IRS Form W-4P at https://www. This SPD incorporates all amend- Monday through Friday, 9:00 a.m. to iamnpf.org/participants/forms. Once ments to the Plan through 7:00 p.m. Eastern Time, if you have you make a change to your federal in- October 31, 2022, including the any questions about the information come tax withholding, your elections amendments made under the contained in this notice or need as- will become effective on the first day Rehabilitation Plan that the Board sistance completing your IRS Form of the month that is at least 30 days adopted in 2019 to improve the W-4P (Withholding Certificate for Pe- after we receive your form. Plan’s funding status for the long- riodic Pension or Annuity Payments) Tax withholding on your benefit pay- term benefit of participants and to update your federal income tax ments is one way for you to pay a por- beneficiaries. withholding elections. It is important tion of your income tax. If not enough This SPD generally applies to par- to note the amount of the 2023 fed- tax is being withheld from your total ticipants who apply for benefits eral income tax being withheld from taxable income for the year, you may on or after January 1, 2023. Par- your payments may change because have to pay estimated taxes during ticipants who apply for benefits the withholding tables have changed. the year or a tax penalty at the end before that date should refer to of the year. Of course, whether or not the 2017 SPD (and any summa- you have to pay federal income tax ries of material modification to depends on the total amount of your the 2017 SPD). taxable income, not just on your ben- efit payments from the Fund. Remem- We hope this summary will be of ber, for many people, Social Security assistance to you and your family benefits are not taxable. in understanding the Plan. Your decision on withholding is an We believe that this SPD accu- important one. If you need addition- rately reflects the Fund. Please re- al assistance estimating your tax, you member, though, that the text of should consult with a tax advisor or the Plan itself, as interpreted by the IRS. The Benefit Funds Office is the Board of Trustees, represents unable to assist you with computing the final authority in all cases. your estimated federal income tax. 5
Surprise Medical Bills When you get emergency care or get CERTAIN SERVICES AT AN treated by an out-of-network provider IN-NETWORK HOSPITAL OR at an in-network hospital or ambula- AMBULATORY SURGICAL CENTER tory surgical center, you are protected FUND from surprise billing or balance billing. When you get services from an in-net- FUND work hospital or ambulatory surgical FACT You are protected from balance bill- center, certain providers there may FACT ing for: be out-of-network. In these cases, the The PrudentRx EMERGENCY SERVICES most those providers may bill you is specialty medication your plan’s in-network cost-sharing program has If you have an emergency medical amount. This applies to emergen- condition and get emergency services cy medicine, anesthesia, pathology, saved participants from an out-of-network provider or fa- radiology, laboratory, neonatology, over $24,000 in cility, the most the provider or facility assistant surgeon, hos- co-pays and saved may bill you is your plan’s in-network pitalist, or intensivist ser- the Fund about a costsharing amount (such as copay- vices. These providers ments and coinsurance). You can’t be can’t balance bill you and half million dollars balance billed for these emergency may not ask you to give up LEARN in 2022! services. your protections not to be MORE balance billed. Visit myCigna.com For Health Services & Savings If you’ve logged in to myCigna.com diet and nutrition programs, alter- home page, simply click on the “Well- lately, you know it’s a fast and easy way native health providers and more. ness” tab to open up a wide range of to find in-network health care providers, RESOURCES LEARN MORE options that will help you know more, learn about your coverage or check on spend less and live healthier. claims. But did you know that myCigna. • Health Encyclopedia com and the myCigna® App can also • Health Topics and Resources * Some Healthy Rewards programs are not avail- connect you with support tools and • Health Information Line (HIL) able in all states and programs may be discon- services that can help you get healthi- tinued at any time. If your plan includes cover- er and save money? And, what’s more, • WebMD Health Manager age for any of these services, this program is in they’re available whenever you need addition to, not instead of, your plan coverage. them and at no additional cost to you. And finally, keep in mind myCigna is al- A discount program is NOT insurance, and you Here are just a few. ways there for finding local in-network must pay the entire discounted charge. TOOLS LEARN MORE care, provider quality information, and estimates for what your health care will • My Health Assessment cost you. They can be easily searched HOW HEALTHY ARE YOU? • Apps & Activities under “My Care and Costs” on the Complete an easy online • Personal Health Record myCigna home page. health assessment and earn • My Health Assistant To learn more about the many a $50 gift card from Cigna. myCigna programs and resources avail- REWARDS AND PROGRAMS able to you, ask your Cigna coach, or GET STARTED • Healthy Rewards® Program:* visit myCigna.com or the myCigna App Find discounts for fitness centers, to check them out. On the top of the 6
Cigna Covered Benefits 3. Reach and maintain a healthy weight 5. Avoid heavy lifting or learn good form to THE THREE MOST COMMON TYPES OF DIABETES: TYPE 1, TYPE 2 AND Staying at a healthy weight lowers your risk of back protect your bac2 GESTATIONAL DIABETES.2 2 pain. It can help reduce the stress and strain on ift things with your legs, not your back. › your back. eep your back straight and bend at your knees TYPE 2 DIABETES › TYPE 1 DIABETES or hips. Develops most often in young people, but it can also If you have type 2 diabetes, your body does not make or Get help if the load is too heavy for you to lift alone. use insulin well. It develops most often in middleaged › develop in adults. With type 1 diabetes, the body’s UNDERSTANDING immune system has attacked and destroyed the cells and older people, but it can also affect people at any . Relieve stress that make insulin, thus decreasing the body’s insulin age – even children. eople who are overweight and FIGHT BACK AGAINST production. have a family history of diabetes are also more likely to Get soe eercise, socialie, go to a ovie or try DIABETES develop type 2 diabetes. BACK PAIN editating to help you relieve tension and shrug off the GESTATIONAL DIABETES stresses of every day. an develop when a woman is pregnant. regnant women make hormones that can lead to insulin resistance. ll women have insulin resistance late in their pregnancy, but some e perience it earlier on. Tips to help prevent back pain. If the pancreas doesn’t make enough insulin during pregnancy, a woman develops gestational diabetes. While gestational diabetes typically goes away after the baby is born, a woman who has had gestational diabetes is more Start with the basics. likely to develop type 2 diabetes later in life. WHAT ARE THE SIGNS AND SYMPTOMS?4 Did you now that . million people in the nited tates have diabetes, and an estimated million people age Some people with diabetes don’t have any signs or symptoms at all, so it’s important to see your doctor and get 1. Eercise relarl € years or older have prediabetes‚ ƒnd, one in four people who have diabetes don’t even now they have it. your blood work. If you do experience symptoms, here are some of the most common. Regular, low-impact exercise increases balance and strength. It also helps That’s why it’s so important to understand what diabetes is, and how to recogni„e the signs. ƒfter all, the more 4. Practice good posture when seated, you now, the more informed decisions you can mae about your health. keep your back and abdominal muscles strong. Always talk to your doctor standing and sleeping2 before starting any exercise program. 2 Good posture can help prevent back pain. What is diabetes? › 1, Your doctor may recommend one or more of the following. Try not to slouch when standing and sitting. The simple definition of diabetes is a disease that happens when you have a high level of glucose (also called › › Strength training: ork in back-strengthening and stretching exercises at INCREASED THIRST INCREASED HUNGER FFREQUENT ATIGUE UNEXPLAINED Sit up straight with your back against the back of Calci is found in dairy blood sugar) in your blood. But to truly understand what diabetes is, it’s helpful to understand how it occurs. › least two days a week. URINATION WEIGHT LOSS your chair and your feet flat on the floor. If possible, products (milk, cheese › Balance exercises: ai chi or yoga can help increase your balance. and yogurt), green leafy keep your knees slightly higher than your hips. HERE’S AN AT-A-GANE EW › Aerobic exercise: ast-walking and swimming are good examples of vegetables such as kale Stand tall with your head up and shoulders back. . uit smoing › low-impact, aerobic actiities that get your heart pumping and keep your and collard greens, tofu, ? If you can, switch between standing and sitting so Soking reduces the blood flow and nutrients to the › heart rate up while youre exercising. ry getting at least 1 minutes of and calcium-fortified Blood glucose is …nsulin, a hormone …f your body doesn’t …f your blood you aren’t in the sae position for too long. lower back. It also slows healing. Talk with your doctor your main source of moderate-intensity aerobic actiity €such as brisk walking‚ a week. You products such as made by the produce enough glucose levels get about ways to €uit. SLOW HEALING PINS AND NEEDLES DRY, ITCHY L OSS OF FEELING BLURRY EYESIGHT can een do 1 minutes at a time. energy. …t comes from orange uice, soy milk SORES FEELING IN YOUR FEET SKIN IN YOUR FEET If you’re a side sleeper, place a pillow between pancreas, helps insulin or the insulin too high, this can › the food you eat. your knees. ƒe sure to warm up to help your muscles transition from cold to warm, and and cereals glucose from food get doesn’t wor the way cause diabetes or help preent in„ury. into your cells to be it should, glucose can prediabetes. If you sleep on your back, place a pillow under › €itain ‚ is made in used for energy. stay in your blood and your knees. your skin through the not reach your cells. . Eat a health iet absorption of sunlight Have quests es aut u aetes s€‚ Yes, what you eat can affect the health of your spine. †o, fill your plate with ou can also get this alk with your doctor, who can make the appropriate plenty of eggies, fruits, whole grains and lean proteins. In particular, important nutrient from recommendations based on your health history. calcium and ˆitamin ‰ can help keep your bones strong and preent foods such as salmon, tuna, eggs, cheese and osteoporosis, which can lead to bone fractures that cause back pain. What is prediabetes? fortified dairy products, †rediabetes is when the amount of glucose in your blood is higher than normal, but Sources: orange uice and cereals Sources: not ‡uite high enough to be considered diabetes. ˆith prediabetes your chances of 1. National Institute of Arthritis and Musculoskeletal and Skin Diseases. “What is back pain?” https:.nias.nih.ohealthtopicsbackpain last reieed ul€ ‚ƒ1„…. 1. National Institute of Diabetes and Digestive and Kidney Diseases. “Diabetes.” https://www.niddk.nih.gov/health-information/diabetes (accessed November 9, 2016) ‚. †.S. Departent of ‡ealth and ‡uan Serices. “ˆreent ‰ack ˆain.” https:healthfinder.o‡ealth‹opicsŒateor€eer€da€health€liinsafet€preentbackpain last updated 2. National Institute of Diabetes and Digestive and Kidney Diseases. “What is Diabetes?” https://www.niddk.nih.gov/health-information/diabetes/overview/what-is-diabetes (November 2106) getting type diabetes are higher. …f caught early enough, you can delay or prevent anuar€ Žƒ‘ ‚ƒ1„…. ‰ 3. National Institute of Diabetes and Digestive and Kidney Diseases. “Preventing Type 2 Diabetes.” https://www.niddk.nih.gov/health-information/diabetes/overview/preventing-type-2- the development of diabetes by maing healthy lifestyle changes. Ž. WebMD. “Sleepin Well With ’o ‰ack ˆain.” https:.ebd.cobackpainsleepandbackpain“‚ last reieed Ma€ 1”‘ ‚ƒ1„…. diabetes (November 2016) •. Ma€o Œlinic. “‰ack pain: –erie.” https:.a€oclinic.ordiseasesconditionsbackpains€ptoscausess€c‚ƒŽ”„„ƒ” Auust •‘ ‚ƒ1—…. 4. National Institute of Diabetes and Digestive and Kidney Diseases. “Symptoms and Causes of Diabetes.” https://www.niddk.nih.gov/health-information/diabetes/overview/symptoms-causes ‹his is eneral health inforation and not edical adice or serices. ˜ou should consult €our doctor for edical adice or serices‘ includin seekin adice prior to undertakin a ne diet or (November 2016) e™ercise prora. This is intended to be general health information and not medical advice or services. Always consult your doctor for appropriate examinations, treatment, testing, and health care recommendations. All Œina products and serices are proided e™clusiel€ b€ or throuh operatin subsidiaries of Œina Œorporation‘ includin Œina ‡ealth and ’ife Insurance Œopan€‘ Œonnecticut šeneral ’ife All Cigna products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Cigna Health and Life Insurance Company, Connecticut General Life Insurance Œopan€‘ Œina ‰ehaioral ‡ealth‘ Inc.‘ Œina ‡ealth Manaeent‘ Inc.‘ and ‡M– or serice copan€ subsidiaries of Œina ‡ealth Œorporation. ‹he Œina nae‘ loo‘ and other Œina Insurance Company, Cigna Behavioral Health, Inc., Cigna Health Management, Inc., and HMO or service company subsidiaries of Cigna Health Corporation. The Cigna name, logo, and other Cigna arks are oned b€ Œina Intellectual ˆropert€‘ Inc. All pictures are used for illustratie purposes onl€. marks are owned by Cigna Intellectual Property, Inc. —››ƒ‚Ž b 1ƒ1„ © ‚ƒ1„ Œina. Soe content proided under license. 903502 02/17 © 2017 Cigna. Some content provided under license. 903502 02/17 855023 b 10/19 1 | 2 1 | 2 PLAN FOR YOUR SCAN Learn how precertification works for high-tech imaging. Precertification is a review process that determines whether a procedure, treatment or service is medically appropriate. UNDERSTANDING CIGNA BEHAVIORAL High-tech imaging, such as computed tomography (CT), magnetic resonance imaging (M) and positron emission HEALTH VIRTUAL COUNSELING. tomography (PT) scans, reuires precertification. or certain plan types, precertification or high-tech imaging will direct you to a specific site o care in your area. e have this process in place to help protect you rom unnecessary We make it easy. cost, unnecessary radiation eposure and surprise €ills. Here’s how it worƒs. Yo an €o r proier ecie €o nee a C‚ ƒR„ or P‚ scan. Yo r heath care proier m st compete the neee information for reiew. Yo r precertification re… est is reiewe sing esta†ishe meica criteria for that proce re. Have questions about accessing virtual counseling through …ow is a good time to go to m€Cigna.com to view in-networƒ solutions and Cigna’s network of providers* or your employee assistance To connect wit a compare pricing to help you find the €est site o care or you. program (EA** tart here hould you have any ita conseo in additional questions feel free to call the number on your Cina s netwok Cigna card anytime Go to myCigna.com and APPRO „ou and your provider are notified NO‚ APPRO „ou and your provider are notified go to Find Care & Cost tab. € ‚hat kind of device can use Search for Virtual Counselor A.Use your smartphone, tablet or computer with camera for virtual under Doctor by Type. If you counseling. need assistance finding a € ‚ill the provider need to see me in person first provider call 800.244.6224. A.You can schedule virtual counseling appointments based on your Call to make an appointment Once approe Compare costs Consier aternaties isc ss or appea provider’s availability. Depending on your reason for treatment, your sche e €o r Cigna may call you to Contact your provider „our provider may provider might require that you been seen face-to-face first. with your selected provider, appointment discuss lower-cost or options speaƒ with Cigna’s € How much will it cost like you would for a face-to- settings medical director face visit. A.Access this care as part of your behavioral health benefits under your employer’s health plan – andor employee assistance program. Your Your provider will give you ‡ho is in charge of precertificationˆ (approved or denied) and the details o the decision. out-of-pocet cost is the same as a behavioral health outpatient office information on how to set up your provider is in-networƒ, he or she will send in or more immediate notification, visit m€Cigna.com. visit. here’s no cost to you for A services, for the same number of virtual counseling according to your precertification reuest.† you decide to use an emem€er, or urgent care center and emergency room covered A sessions.€€ treatments, precertification is not reuired. € oes this include telephone sessions the technology they are using. out-o-networƒ provider, you assume responsi€ility or the precertification process. „our health care provider At Cigna we’re with €o eer€ step of the wa€. A.‚irtual counseling is video-based and does not require a prior authoriƒation For EAP, go to myCigna.com can provide guidance on how to su€mit the reuest. For more information isit m€Cigna.com or ca because it’s seen as a substitute for face-to face therapy. „owever, if phone and use employer ID ‰ow ong oes it takeˆ the n m†er on the †ack of €o r Cigna „ car. sessions are needed, a prior authoriƒation is required. (for initial registration): ‡nce your provider has completed and su€mitted your ee your EA materials or plan documents for a complete IAM paperworƒ, a routine review taƒes a€out five €usiness list of covered behavioral health services days.†† „ou will receive a letter with the decision * In certain cases, your provider will give this information to an ancillary company we work with that helps manage these requests. ** Timing assumes all necessary clinical information has been submitted by the provider. If information is missing, approval may be delayed. This time period may be shortened according to applicable state law. All Cigna products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Cigna Health and Life Insurance Company, Connecticut General Life Insurance Company, Cigna Behavioral Health, Inc., Cigna Health Management, Inc., and HMO or service company subsidiaries of Cigna Health Corporation. The Cigna name, logo, and other Cigna marks are owned by Cigna Intellectual Property, Inc. Offered by Cigna Health and Life Insurance Company, or its affiliates. 935644 a 02/20 © 2020 Cigna. Some content provided under license. 903608 e 01/20 *CLICK ON THE NUMBERS OR IMAGES ABOVE TO ENLARGE FLYERS 7
EyeMed and Delta Dental Reminders October 21, 2014 Make a Date for Your Eyes: Your Annual Exam Getting your eyes checked can help you be the vision of health. You may think you need an eye exam only when it’s time to update your eyewear prescription. But the truth is, eye exams are about a lot more than seeing whether you need a new pair of glasses or contacts. Comprehensive eye exams play an important role in your overall wellness, and you should get one every year for optimal vision health. Besides measuring your vision, regular eye exams can help identify early signs of certain chronic health conditions, including high blood pressure, diabetes and heart disease.1 During an eye exam, your doctor will check all aspects of your vision, including your eye’s structure and how well the eyes work together. Based on the exam results, your doctor will recommend a solution that is right for your eye health and vision care needs. Annual eye exams enable your doctor to monitor the health of your eyes and track changes that can occur 1 from year to year. For example, subtle changes in the retina can be a warning sign of high blood pressure.1 So even if you don’t need vision correction, it’s important to take charge of your eye care. When you get your eyes checked every year, you’re helping your eyes—and possibly your whole body—stay well. 1. “8 Health Problems That Can Be Detected Through an Eye Exam”, AARP, November 15, 2021, https://www.aarp.org/health/conditions-treatments/info-2021/eye-exam-health.html. These materials are designed to provide general information regarding health care topics, do 1/2 not constitute professional advice nor establish any standard of care, and are provided without representations or warranties of any kind. Quotations, photos and videos are not from actual patients and your experience may be different. Your treating health care professionals are solely responsible for diagnosis, treatment and medical advice. The eye care professionals in your plan are independent practitioners who exercise independent professional judgment and over whom EyeMed has no control or right of control. They are not agents or employees of EyeMed. Eye care professionals do not take the place of your physician. *CLICK ON THE IMAGES TO ENLARGE FLYERS 8 2/2
Top 401k Banner from last issue IAM National 401(k) Plan Investment Lineup Changes Effective February 15, 2023, the IAM investment lineup. Additional infor- National 401(k) Plan will be adding mation from the Plan’s recordkeeper, the IAM American Century Small Cap John Hancock, on these investment Growth Fund and the IAM Vanguard options will arrive in mailboxes in Target Retirement 2070 Trust II to its mid-January. Understanding Asset Classes for Better Portfolio Diversification We all know that diversification can market capitalization of under $2 be good for your portfolio because billion. it means you’re less reliant on one • A medium cap stock generally els: International investments expose type of investment to do well. Beyond has a market capitalization be- you to currency fluctuations, and some just having a mix of equities (stocks) tween $2 billion and $10 billion. international investments are more vol- and bonds, you should also consider • A large cap stock generally has atile than others. having a mix of different investment a market capitalization over $10 classes within each. That way, you’re billion. Style exposed to multiple types of invest- There are two different investing ments and ultimately creating a more Investing in all three can help diversify styles you can diversify between when well-rounded portfolio. your portfolio because they can each it comes to an ETF based portfolio: A CLOSER LOOK AT EQUITY experience different risk and return growth and value. DIVERSIFICATION patterns. When it comes to equity investments, Country Growth investing aims to invest in com- there are a few key distinctions you’ll panies that are poised to outgrow the want to keep in mind: size, country, There are two major types of equity general market, whereas value invest- and style. investments you can make when it ing aims to invest in companies whose comes to the region you’re investing stocks are relatively cheap based on an Size in: domestic and international. analysis of the company and the mar- ket it operates in. One way to increase the diversifica- If you’re building a portfolio of ETFs, You can find ETFs that are built to tion of your investments in compa- which give you access and exposure track indexes that are built on each in- nies is to make sure you’re investing to hundreds of investments with a sin- vestment style, which is a great way to in companies of different sizes. Com- gle fund, you’ll also see a third category expose your investments to each style panies are usually broken down into based on country: global. A global ETF without having to do all of the analysis three categories by size, and their size is one that contains stocks from both yourself. is determined by their market capital- domestic and international companies. ization, or market cap for short. (That’s When you’re diversifying between in- WANT TO LEARN MORE ABOUT the technical term for the value of the ternational and domestic investments, BOND DIVERSIFICATION? company.) it’s important to understand that they CLICK HERE • A small cap stock generally has a do differ when it comes to their risk lev- 9
Remember to Update Your Beneficiaries Your account and beneficiary infor- formation is up-to-date. To learn more mation is maintained separately, and about this topic, check out the Jour- must be updated separately, for each ney to Retirement magazine, a special of the Funds. Please visit your account publication that releases once every via the Participant Self-Service (PSS) decade during the IAM Grand Lodge portal or call Customer Service at Convention. It is available to read in full 1-800-424-9608 to verify that your in- by clicking here. THE NATIONAL IAM BENEFIT FUNDS OFFICE 99 M St., SE, Suite 600 Washington, DC 20003-4595 www.iambfo.org