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Browse related frequently asked questions.
FAQ
Yes and No. Payment Amount. Your monthly pension payment amount will not change as a result of this merger. Direct deposit. The MACRC Fund requires payments to be made by direct deposit. If you are receiving monthly payments by check, you will receive a direct deposit form from the MACRC Pension Fund later in May. […]
FAQ
No. Health care premium deductions will remain the same. The MACRC Fund will continue sending deducted premiums to the CMRCC Welfare Fund.
FAQ
Depends. Retirees receiving a monthly pension: Yes. You will need to complete a Beneficiary Designation Form to receive a new $3,000 death benefit available under the MACRC Fund. If you are receiving a monthly benefit, you are eligible for this benefit. If you wish to update where your monthly payment is deposited, you may contact […]
FAQ
It depends on how you receive your monthly payments and if we receive your forms timely. Monthly payment by direct deposit: No. Pension payments made by direct deposit are expected to continue on their normal monthly schedule. Monthly payments by check: Possibly. Retirees currently receiving paper checks are required to enroll in direct deposit. To […]
FAQ
There will be a slight change when the 1st of the benefit month falls on a weekend or holiday: the IKORCC Fund issues payments on the 1st of the benefit month or prior business day, and the MACRC Fund issues payments on the 1st of the benefit month or next business day.
FAQ
Retirements beginning before July 1, 2026 are handled by the IKORCC Fund. Retirements on or after July 1, 2026 are handled by the MACRC Fund. Any retirement applications received by the IKORCC Fund after May 22, 2026 will be shared with the MACRC Fund to commence retirement payments after July 1, 2026. Please note that […]
FAQ
It depends on when the service was earned: Before July 1, 2026: Your benefits are generally governed by the IKORCC Plan, or a prior IKORCC pre-merger plan if applicable. On or After July 1, 2026: Your benefits are governed by the MACRC Plan.
FAQ
No. Both plans use the same Normal Retirement age of 65, or the 5th anniversary of becoming a participant if later. Early retirement rules differ depending on which benefit is being paid.
FAQ
The MACRC Fund will be sending a detailed informational mailing describing plan differences in May 2026, followed by mailing of the Summary Plan Description after July 1, 2026.