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.
