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Notice — NMU Plans

July 2002

NMU PENSION AND WELFARE PLAN During 2001 the Trustees approved several amendments to the Plan: 1. Qualified participants received a 2% increase in accrued pension benefits as of December 31, 2001. Coupled with two previous 2% increases and the 10% adjustment in 1997, the long-term pension benefits for the membership have improved significantly. 2. Future retirees will benefit greatly by the amendment approved by the Trustees that eliminates the limitation on the number pension credits a seafarer may earn. Effective January 1, 2001, pension credits are not limited at all. NMU WELFARE PLAN There were six amendments to the NMU Welfare Plan in 2001. The first two were significant changes. The other four were more for administrative expediency: 1. Our disability program was redesigned to provide our disabled seafarers with an orderly transition to Social Security benefits. Since Social Security Disability Income is available after 6 months and Medicare after 24 months, we reduced the disability period from 60 months to 29 months and put the seafarer in a position to receive income and medical coverage for the full length of his or her disability. 2. Due to the ever-increasing costs of prescription medicines, it was necessary to increase the co-payment amount. This increase can be offset, somewhat, by accepting generic drugs. 3. The exclusion from coverage of the drug, Viagara, was continued through July 31, 2002. 4. Language in the regulations regarding ambulance facilities was ambiguous. This amendment simply clarifies the language. 5. At the suggestion of our auditors, the Trustees must now authorize all claims obligated or incurred outside the United States, its possessions, commonwealths or the Republic of Panama. 6. The Trustees have authorized the NMU Welfare Plan to pay all ISOV claims. NMU VACATION PLAN The sole amendment to the NMU Vacation Plan in 2001 resulted from the merger with SIU. Trustees of both unions have approved a reciprocity amendment that enables seafarers to combine their NMU time with their SIU time to qualify for vacation benefits. This notice contains important benefits information for mariners covered under the NMU Pension, Welfare and Vacation Plans. If you encounter difficulties in understanding this notice, it can be explained to you in Spanish. This assistance can be provided in person at the Plans principal office, located 360 West 31st Street, Third Floor, New York, New York 1001 or can be obtained by contacting a Plans representative at any branch office. The branch office hours are 9:00 a.m. to 4:30 p.m. Monday through Friday. You may also write or call. Letters written in Spanish should be mailed to the Plans office in New York. Telephone calls requesting assistance in Spanish should be directed to the Plans office in New York whose telephone number is 1-212-337-4900 or by calling the toll free number 1-888-424-4949.