About the Statewide Benefit Cooperative
The Statewide Benefit Cooperative is a group insurance program sponsored by the Indiana Statewide Association of RECs Group Insurance Trust. This program is offered solely as a service and benefit to its members and their employees. A formal Trust Agreement was adopted and has since been amended to meet all of the requirements of the Employee Retirement Income Security Act of 1974 (ERISA). The Trust is a separate legal entity and the policyholder for the various group insurance policies offered to all members. The Trust is a separate legal entity and enjoys a tax-exempt status under Section 501c(9) of the Internal Revenue code.
The Trust is able to provide enhanced benefits at competitive and stable rates because its only objective is to provide high quality member benefits. The Trust makes no profit from the service it provides.
The Trust’s primary products are a group of benefit plans that are underwritten by Principal Life Insurance Company, a member of the Principal Financial GroupÒ . These include the following group plans:
Medical Life Prescription Drugs Short-term Disability Dental Long-term Disability Vision Accidental Dealth & Dismemberment Wellness
The Trust is governed by a Board of Trustees made up of executive officers from its own membership. Those currently serving as Trustees are:
Mr. Bruce Graham, CEO – Indiana Statewide Assoc. of RECs
Mr. Rodney Hager (Trust Chairman) - Orange County REMC
Mr. Gary Gerlach – White County REMC
Mr. Donnis Mizelle - Hendricks Power Cooperative
Mr. Jim Yates – Miami-Cass REMCMr. Robert Hippensteel – Wabash County REMCMr. Larry Fetters - LaGrange County REMCMr. David Cox - Newton County REMC
Click Here if you would like to know the many benefits of being a Trust member.
Or Here, if you would like more information about the Trust
Principal Financial GroupÒ, The PrincipalÒ and the Principal Financial Group logo are registered service marks of Principal Financial Services, Inc. Used by permission