SEUI 775 Secure Retirement Plan

You are automatically enrolled after you complete 6 months of caregiving with a covered employer.

During your seventh or eighth month of caregiving, a Welcome Letter will be mailed to you with steps on how to register your account.

These instructions also show you how to register. You can also visit “Retirement: My Plan” located online that gives instructions for your account, which is administered by Milliman.

If you are no longer working as an Individual Provider, you still have login access to your account information. Make sure your contact information is up to date. When calling the toll-free number, you will be asked to provide your Social Security Number for security purposes.

Milliman is the recordkeeper for the Secure Retirement Plan. Milliman will send you account statements and information by email or mail. To make sure you get these notices from Milliman, keep your contact information up to date with your employer, especially addresses and e-mails. You can update your address and email through your Workday account with CDWA.

Milliman gets your contact information from your employer only. If your mailing information is incorrect, please login to Workday with CDWA to update. Please allow up to 45 days for changes to show on your retirement account.

If you are no longer working as an Individual Provider, you can contact Milliman directly and they will provide an address change form. The address change form is only for participants that are no longer working. Working Individual Providers must make updates directly with their employer.

Your termination date may be inaccurate or missing, even if you have retired. The Secure Retirement Plan uses your last contribution date provided by your employer to calculate your termination date. Additionally, small account closures cannot be processed until 24 months after your last contribution date. For more details, please refer to the Summary Plan Description (SPD) or contact Milliman for assistance at 1-800-726-8303.

Generally, you must be 65 or older in order to take a distribution from the Secure Retirement Plan. How your Secure Retirement Plan account is paid depends on how much money you have in your account.

Beginning January 1, 2025:

1. If you are over 65 and your account is more than $5,000, it will be paid in monthly installments depending upon your age and account balance. The minimum monthly payment is $200 (minus mandatory taxes).
2. If you are over 65, no longer working, and your account is $5,000 or less, it will be paid in either a lump sum (minus mandatory taxes) or rolled into an IRA of your choice. You must wait 24 months from your last contribution date to close out your account. Milliman will notify you of your options.

No. Contributions to the Secure Retirement Plan are made by your employer only and are not deducted from your paycheck. The contribution amount is determined in bargaining between SEIU 775 and your employer and is stated in the Collective Bargaining Agreement (CBA). Contributions to your account are always fully “vested,” meaning your account cannot be forfeited.

Your employer makes a contribution to your Secure Retirement Plan account for every hour you work in covered employment as an Individual Provider once you become a participant in the Plan. Contributions may vary between employers depending upon their Collective Bargaining Agreement (CBA). Your account is always fully “vested,” meaning it cannot be forfeited.

No. This plan is not set up to take participant contributions. If you want to contribute to your retirement, consider opening an IRA. If you don’t have one, consult a tax professional, your bank, or see more options online.

The Plan is intended to help provide you with retirement income. Plan data indicates that many Individual Providers take a break and return to work within 24 months. That’s why if your account is $5,000 or more, even if you don’t continue a career in caregiving, the Trustees have made it a priority for your account to be available only at age 65 or later. If a participant’s account is less than $5,000 and the Individual Provider doesn’t work for 24 months, the data shows it is likely they won’t return to the profession, so the Plan distributes the funds so that they can consolidate their retirement savings. The good news is your money is still invested during the 24-month waiting period giving it an opportunity to grow. If you return to work with the same employer or a different employer that contributes to the Secure Retirement Plan within the 24-month waiting period, your contributions will automatically go into your existing account.

The Secure Retirement Plan was created to provide another source of income when you retire, adding to your other retirement income sources, like an IRA or Social Security. Many Individual Providers continue to work after the age of 65. These Individual Providers have the advantage of being able to access the monthly distribution payments while still having employer contributions deposited into their account. These monthly distributions will continue as long as you have an account balance.

You can still contribute to an Individual Retirement Account (IRA) and may be eligible for other retirement plans while participating in the Secure Retirement Plan. You can also consult a financial professional about your unique situation. The Secure Retirement Plan is strictly employer-funded which allows you to participate in an IRA of your choosing.

Washington State Retirement Marketplace offers low-cost and state-approved IRA options. You can also find more information here.

The Washington State Retirement Marketplace has IRA options that are low-cost, easy to use and verified by the state.

The investments for the plan are directed by the Trustees and managed by investment professionals to grow over time and add to your retirement savings. The Secure Retirement Plan uses target date funds to diversify your investments based on your date of birth.

ICanRetire gives you financial education that is unique to your situation. It has tools and videos at no cost to you. No personal information is collected.

Learn more about ICanRetire.

Every month, educational emails are sent to Secure Retirement Plan participants. These emails provide information and resources about planning for retirement to help you with retirement readiness. You can opt out of these emails anytime.

More plan details can be found in the Summary Plan Description. Financial resources and information in multiple languages is also available at ww.seiu775benefitsgroup.org. You can also call a Secure Retirement representative at 1-800-726-8303 for questions specific to your own account. The MRC (Member Resource Center) does not have access to your information, and they do not share personal data with Milliman. Milliman receives its information from your employer.