Your Money

Frequently asked questions

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Question

Answer

Who can answer my pension related questions, and who can help me with my savings plans

Pension questions are handled by Benefits Express - 1-888-409-3300
And for Savings Plan questions contact Merrill Lynch - 1-800-483-7283

Can I request the remainder of my SERP in a lump sum payment?

 SERP benefits are payable only as a monthly annuity.

How do I change my monthly check electronic routing?

For all matters related to your pension you must call Benefit Express at 1-888-409-3300.
Does Benefits Express allow for multiple routings, and why can't I have a specific amount put into one account with the balance going to another? The retiree payroll system is an old system and one of the limitations of this old system is we cannot accommodate multiple deposits. So, one is all we can do!!! Sorry.
How soon will I receive my W2 for 2008 and my 1099 for retirement payments for 2008?

These are mailed out some time in mid to late January.

Where can i get a copy of my W2 or my 1099R

Copies of either can be obtained by calling Benefits Express 1-888-409-3300

I want to change my tax withholding on my pension check. How do i do it? For all matters related to your pension you must call Benefit Express at 1-888-409-3300.
How do I access my RHCA account? Do you have to exhaust your RHA account first, or are they separate? Your RHCA account is accessed through Merrill Lynch (1-800-483-7283). United Health Care (1-877-311-7849) handles the claims for your RHCA. Your RHCA and HRA are separate accounts. It is recommended that you exhaust the funds in your HRA first as RHCA funds are passed on to your estate and HRA funds are not.
I can't find any info about college money for retirees. I thought we got so much a year for college. Something like $1500.00 Retiree Tuition Assistance Program UAW-Chrysler retirees can take approved classes at the plant or local union hall from which they retired, at a UAW-Chrysler Regional Training Center or the Walter and May Reuther Family Education Center in northern Michigan. Maximum assistance level is $1,750 per calendar year. Contact the TAP office toll-free at 800.225.1416 (in Michigan) or 800.241.1416 (elsewhere) for an application or you can download one at http://www.uaw-chrysler.com/training/tap.cfm
 When should a retired employee file for social security and what are the effects on medical and pension?  You can contact the Social Security office or consult your tax advisor for the best time to file for social security. For the effects on medical and pension, it would be best to call Benefit Express at 1-888-409-3300
How do I find the balances in my RHCA account and also in my HCA Account. Is that the same as my "spending account"? You can call Merrill Lynch at 800-483-7283 to inquire about your RHCA balance or go on-line to www.benefits.ml.com. Your HRA is through Your Spending Account, which is administered by Benefit Express. You can call them at 888-409-3300 or go on-line at http://resources.hewitt.com/daimlerchrysler to inquire about your HRA balance.
I will be retiring soon. Who should I talk to and see if I am financially ready? Also, what is the average that a retired worker pays for health benefits? Log on to Your Benefits Resources (YBR) and there are estimators for retirement and pension calculations there. Merrill Lynch is another route to go through to see if you have enough money saved for retirement. As far as health care, it will be approximately what you're paying now per month through retirement. It's a percentage of your base salary at the time you retire.
 How can I get a copy of my w4's for 2007 and 2008?  Now that Payroll has been out source, you must call 877-827-7744 for their reprints of old W-2s, or for all Payroll Inquiries.
If pension checks are payed on the first of month than why aren't they direct deposted on the first.  Pension checks should be deposited on the first of the month, unless the first is a weekend or bank holiday. The EFT stub may arrive shortly after the first of the month to a retiree's home.
 I just retired and I want to get my last two paystubs, how do I do that?  Copies of previous pay stubs can be obbtained by contacting your HR benefits rep back at your old plant. They can print off copies for you.
 Did we lose our Christmas Bonus when the last negotiations were completed?  The Christmas bonuses have been eliminated for 2009 and 2010. What happens in 2011 and beyond will depend on the results of the next round of negotiations.
Why were some of the union retirees paid a bonus in December 2009 and some of us were not? Retirees who retired BEFORE the 2007 contract get lump sums. Retirees who retire AFTER that contract date get an increase in their pension benefit amount every October until the next contract.
   
   
   
   

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Note: I will only post questions that are applicable to a wide range of retirees.