IBEW LOCAL 246 PENSION PLAN (DEFINED BENEFIT)

Normal Retirement Age:

(A)  For Participants who are in or have been in the Plan at any time prior to June 1, 2011, Normal Retirement Age means the earlier of:

  1.      age sixty-five (65) and completion of ten (10) Years of Vesting Service prior to June 1, 1998 or completion of at least one (1) Hour of Service on or after June 1, 1998 and at least five (5) Years of Vesting Service; or
  2.      age sixty (60) and completion of twenty-five (25) Years of Vesting Service;
  3.      age fifty-five (55) and completion of thirty (30) Years of Vesting Service; or
  4.      the later of:         

                   (a) age sixty-five (65), or
                   (b) the fifth anniversary of the time the Participant first commenced participation in the Plan.

(B)  For persons who first enter the Plan on or after June 1, 2011, the Normal Retirement Age means the earlier of:

  1.      age sixty-five (65) and completion of ten (10) Years of Vesting Service prior to June 1, 1998 or completion of at least one (1) Hour of Service on or after June 1, 1998 and at least five (5) Years of Vesting Service; or
  2.      the later of (1) age 65, or (2) the fifth anniversary of the time the Participant first commenced participation in the Plan.

(C)  Participation before a Forfeiture of Service shall not be counted towards the Participant’s attainment of Normal Retirement Age.

Normal Retirement Date: Normal Retirement Date means the first day of the month coincident with or immediately following the Normal Retirement Age.

Early Retirement Date: Early Retirement Date means the first day of any month prior to the Normal Retirement Date in which a Participant becomes fifty-five (55) years old and has at least ten (10) Years of Credited Service.

More specifics are available in the Summary Plan Description or please contact the Fund Office if you need more information or for the forms necessary to apply for benefits.

Steubenville Electrical Funds Office
626 North Fourth Street, Suite 106
Steubenville, Ohio 43952
(740) 282-1251


Pension Benefit Fund (PBF) – International

“A” members of the I.B.E.W. are eligible to apply for a normal retirement pension if they have five (5) or more years of continuous good standing at the time of their application for pension, and have reached age sixty-five (65).(Based on the number of years paying dues. $4.50/year)

Early Retirement- “A” members of the I.B.E.W. who have attained age sixty-two (62) with twenty (20) or more years of continuous good standing as “A” members of the I.B.E.W. immediately preceding their application are eligible to apply for an early retirement pension upon their full and complete retirement from the industry. (reduced by 6.66% for each year (or part) the member is under age 65 at time of retirement)

 Pension Application \ Calculator

Applications for all pension benefits are available online or at the Local Union office. The member must take the correctly completed application to the Financial Secretary of the Local Union who will report on it at the union meeting and shall then forward the properly signed and sealed application to the I.S.T. In addition to satisfying the eligibility requirements, the member must be completely retired from the electrical industry in order to receive early retirement pension benefits.

*A pension application cannot be generated more than 6 months in advance of your retirement date.

In order to fill the application online correctly, you have to have Adobe Acrobat Reader version 9 or up. If you do not have a printer, call the hall to print out the application for you. We will review the application and needed documentation.

Make a copy for yourself and mail to:

IBEW
900 Seventh St., NW
Washington, DC  20001

—OR—

Fax to (202) 728-6138
***If the application is FAXED then page 3 must have a visible seal and the Beneficiary page MUST be mailed separately to show an original signature.

 

IBEW PENSION BENEFIT FUND (PBF)
    NORMAL EARLY DISABILITY VESTED
Years to gain
eligibility
5 20 20 20
Members Retirement Age 65 62-64 Approximately 38-64 65
Restrictions May not work in the Electrical Industry * May not work in the Electrical Industry * May not work at all May not work in the Electrical Industry *
Disincentives None Reduced Monthly Rate Must await determination of Disability Loss of Death and Disability Rights
Benefits effective Jan.1, 2007 $4.50 per year for continuous standing as an “A” member Same as Normal less 6.66% for each year under age 65 Same as Normal Same as Normal, less $4.50 for each year Vested applicant is under age 65
Optional Spouse’s Benefit Eligible Eligible Eligible Not Eligible

Note:   *If you have any questions about the Pension Benefit Fund, please click on the following link to access useful information:   http://www.ibew.org/links/index.htm

*You may also contact the pension department directly via email: Pension@IBEW.org or call (202) 728-6206.

PBF FAQs

SUMMERY PLAN DESCRIPTION


NEBF

Based on years of service.   $32.00/year

If you would like to request your covered years of service with the NEBF, click on the following link:  Request for Status Information

*This will generally take 8 weeks to receive notice from their office so please be patient.

print that out and fax to: (301)869-4322 or mail to:

National Electrical Benefit Fund
2400 Research Blvd Suite 500
Rockville, MD  20850-3266

*If you already have registered yourself and have an NEBF user name & password then go to “Documents” then click on “Benefit Estimate” and click “submit” and it will instantly be in your “Documents” folder to view named “Online Estimate”.

The NEBF will not give out personal information over the phone.  They will send you a letter in the mail.

You may come into the office and we will print you the application or you can go to the website:

Click HERE for the NEBF application

–or–

Click HERE to go to the NEBF website

  1. Click on NEBF in blue ink
  2. Across the top of the page in red ink, click on “Plan Documents and Forms”
  3. Scroll down to “Forms” “Participant” (4th on the left) and you will find “NEBF Participant Pension Application”
  4. Print your application
  5. Go back to the previous page and click on “NEBF Summary Plan Description”. You can reference this guide online or print the summary guide.  This guide is 50 pages long!  You can also call the Hall for a copy if you cannot print it at home.
  6. Federal laws governing NEBF allow 90 days to process an application for a Retirement Benefit and 45 days to process an application for a Disability Benefit.

Complete the form timely and mail into:

NEBF
2400 Research Blvd., Suite 500
Rockville, MD 20850