GCC/IBT Benevolent Trust Fund
The Graphic Communications Benevolent Trust Fund (BTF) provides death benefits to beneficiaries of eligible members in Participating Local Unions.
The Board of Trustees approved a benefit increase effective July 1, 2021, with benefit amounts between $1,000 and $3,625.
The amount of the death benefit payable on behalf of a deceased participant depends on several factors:
1) The Participant’s date of death
2) Whether the Participant was active or in exempt status
3) If exempt, when the Participant became exempt from the contribution obligation to the Fund
4) The number of months/years of continuous contributions to the Fund.
For active members with dates of death on or after July 1, 2021, benefits range from $1,165 for new members (one to six months of membership) to $3,625 for those with at least three years of membership. Benefits are also payable on behalf of eligible retirees.
All members of Participating Local Unions who are in good standing with their Local Union (and the GCC/IBT, Unifor, and the IBT) are eligible to participate in the Fund, regardless of age. All members of newly established GCC/IBT Local Unions also participate in the Fund. Click here for a directory of Participating Local Unions.
Special per capita tax
All new participants of the Benevolent Trust Fund contribute a one-time inaugural fee of $8.00. After that, the special per capita tax for new participants and non-exempt existing participants is $1.00 per month. Participants actively serving in the armed forces of the United States or Canada and participants who have honorary life membership are exempt from paying the special per capita tax.
Funding and Administration
The BTF is funded by special per capita taxes and investment earnings. Fund assets are segregated from union assets and maintained in a trust fund for the exclusive purpose of providing death benefits to beneficiaries of deceased eligible members and for defraying reasonable administrative expenses of the plan. The trust fund is registered with the Internal Revenue Service and is a tax-exempt organization under the Internal Revenue Code.
The Fund is administered by a board of trustees comprised of GCC/IBT Officers, members of the GCC/IBT General Board, and one member from a participating Unifor Local Union. The day-to-day operations are overseen by an administrator appointed by the board of trustees. The administrator reports to the Fund’s Executive Committee between trustees’ meetings.
Refer to the most recent Summary Plan Description (SPD) for more information.