Long Term Disability Plan Withdrawal
Are you factor 88 or 65 years of age?
If you are, then you can save approximately 1.2% of your salary!
Why, you ask?
Members are no longer entitled to long term disability benefits under the BCTF Salary Indemnity Plan (SIP) once they hit Factor 90 (age plus cumulative service) or age 65.
How and when a member can apply to withdraw:
A member who has attained age 64, has reached the Factor 88, or is in receipt of a retirement pension under a registered pension plan, may voluntarily withdraw from the long term section of the plan.
Withdrawal may be made during any school year in which one of the foregoing conditions has been met and upon the completion of the appropriate withdrawal form (obtained from the plan administrator). Withdrawal will be effective, upon approval, in September for applications submitted in that month, and applications submitted later will be effective the month following approval of the application.
Note: Before you complete the application, you should ensure that in the event of a serious illness or accident you have sufficient accumulated sick leave which combined with the 120 days of benefit from the SIP short term plan, will protect your salary until the end of the month when you hit “Factor 90” or the end of the month when you attain age 65, whichever comes first.
Applications are available on-line at:
or call the BCTF Income Security Division toll free: 1-800-663-9163
If you have any questions about Long Term Disability Plan withdrawal please contact Michele Wiebe, President Peace River North Teachers’ Association.