Mutual Benevolence Plan (MBP)
OkACTE & CCOSA Mutual Benevolence Plan (MBP) organizes and facilitates the voluntary, monetary contributions to the beneficiary of an eligible member upon the death of that member. Each program participant contributes to the Mutual Benevolence Plan fund to provide financial assistance to the beneficiary of an active member of the program.
OKACTE PROGRAM GUIDELINES
OkACTE members who are in the first 5 years of membership or when the board approves open enrollment.
ELIGIBILITY TO PARTICIPATE
Active and Retired OkACTE Members and their spouses
Retired members must have been a member of the plan at least (5) years prior to their retirement. They are also required to maintain their OkACTE/ACTE Loyalty Membership Dues.
Newly married participants can enroll their spouses within 60 days after their marriage.
UPDATE TO MEMBERSHIP TYPE
Current OkACTE members and their spouses are included in one pool. Each person, member and/or spouse will be listed as a MBP participant, and will be required to pay the $10 fee per death.
Upon the death of the OkACTE member, the membership of the spouse is terminated.
COST TO PARTICIPATE
$20 to enroll + $20 to get (2) deaths ahead in the program = $40
ACTIVE MEMBERSHIP GUIDELINES
Each member of the program will be notified by email of the death of a participant and will then send $10.00 to replenish the fund through a link provided in the email or by mail. $10.00 for each participating member in the plan (minus a 5% administrative fee to CCOSA) will be sent or delivered to the beneficiary in the event of the death of a member or member’s spouse.
Program participants have 60 days after the death of a participating member or spouse to pay their $10.00 membership fee to the Mutual Benevolence Plan. CCOSA will provide notice to delinquent program participants within 30 days of the initial death notice that payment is needed to remain eligible for program benefits.
Participants are dropped from the program after 60 days of non-payment.
RETURNING TO ACTIVE STATUS
In order to return to active status the individual would pay a $50 reinstatement fee + $20 to get two deaths ahead in the program