Brothers and Sisters,

After speaking with a representative from the SMART Plan, the E-Board has learned the following. If your plan contributions are made with a percentage of your pay check, that percentage will be taken from the retro check as well.

For example if a member receives a gross payment of $40,000 (this is not what everyone will receive but a number used for simple math), and your SMART Plan contributions are set for 10%, you will have $4,000 deducted from your gross retroactive earnings and put into your SMART Plan.

If you have your contributions set for a fixed dollar amount, you will not be in jeopardy of over contributing. The E-Board does not have a time frame for when we will receive the retro payment, however we want you to be aware of this issue and be prepared to make the necessary changes to your contributions in the event you do not wish to contribute an abnormally high amount. As always if you have any questions please contact an E-Board member.

Fraternally,

The E-Board