I’m Planning for Retirement

I’m Planning for Retirement

As an active member, it’s important to understand how your active SASMI benefits can be there for you later when you retire.

The Health Care Reimbursement Account (HCRA)

When you retire from the industry, you may be eligible for a Health Care Reimbursement Account (HCRA) through SASMI. The HCRA is funded with any unused employer contributions that were received on your behalf during your time as an eligible active member.

A HCRA can give you an extra source of income to pay for health care expenses for yourself and your family.

How the HCRA Works

With a HCRA, you apply for reimbursement of eligible health care expenses. Eligible reimbursable expenses are those that the IRS considers tax-deductible and are highlighted in this list.

You can get reimbursed for expenses that you, your spouse and your dependent children up to age 27 incur.

You can also get reimbursed for health insurance premiums you make as a retiree to a private insurance carrier or to a Sheet Metal Workers International Association (SMWIA) local union welfare fund.

Reimbursements are deposited to your bank account tax-free.


To qualify for the HCRA benefit, you must:

  • Stop work with all SASMI employers on or after January 1, 2010;
  • Be eligible and receiving a Sheet Metal Pension with 10 or more years of service of eligible for and receiving a normal retirement, with five (5) or more years of service;
  • Be eligible for and receiving a pension from the Sheet Metal Workers National Pension Fund or another SMART local union pension fund; and
  • Have at least two years of future service credit.