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Labor Alliance Savings Trust (LAST) Fund Frequently Asked Questions

How do I qualify for enrollment in LAST?

To qualify for enrollment in the LAST, you must have alternate medical coverage (i.e. coverage through spouse) and provide acceptable proof to the Plan Administrative Office.

How often and how much are the contributions into my Individual Account?

$300.00 is allocated into your LAST “Individual Account” on a monthly basis.

What happens if I lose my alternate medical coverage?

In the event you lose your alternate medical coverage, you will be required to enroll in the LAMT medical plan and your LAST “Individual Account” will be frozen. If at a later date you acquire alternate medical coverage, you may re-enroll into the LAST providing you meet the eligibility requirements.

When can I request a distribution from my Individual Account?

In general, you (or your beneficiary) are eligible to receive distributions from your Individual Account when:

a. You apply for benefits and no Employer Contributions have been made on your behalf for 6 consecutive months because you are no longer working for an Employer who is a contributor to the Labor Alliance Savings Trust Fund; or
b. You die and your beneficiary or spouse applies for benefits; or
c. You are retired; or
d. You become totally or permanently disabled and receive Social Security disability benefits and you apply for benefits.

How much money will I receive from the Plan?

The amount of your benefit is the value of your Individual Account at the time you qualify for a benefit distribution. Your benefits are 100% vested at all times. Generally, the amount in your Individual Account is the sum of all contributions made over the years on your behalf, plus earnings (or less investment losses) credited to the account, less any withdrawals, contract charges and administrative expenses.