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.

Pension Documents

Benesys
3660 Stutz Dr. Ste. 101
Canfield, OH 44406
1-888-559-1155

INTERNATIONAL PENSION BENEFIT FUND (PBF)

900 7th Street NW, Washington, DC 20001  •  Phone:  (202) 728-6206  •  Fax:  (202) 728-6138  •  Email:  pension@ibew.org

Applications for all pension benefits are available online:  Pension Application \ Calculator

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.

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 International.

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.

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


2400 Research Blvd Suite 500, Rockville, MD  20850-3266  •  Phone: 301-556-4300  •  Fax: 301-556-0100 •  www.nebf.com

$32.00 per Service Year

Preparing for Retirement
Visit the NEBF  Online Benefits Portal. On the Log In page, select “New User” and provide the requested information to verify your identity. Then follow the instructions to enter your email address and create your password and security questions. You will also have the option to go paperless.

  1. Once registered and with an NEBF username and password, navigate to “Documents” in the portal.
  2. Click on “Benefit Estimate” and then click “Submit.”
  3. Your NEBF projection will instantly be available in your “Documents” folder under the “Online Estimate” tab.

Note: Only vested participants can generate a benefit estimate.
If you have a foreign address you will be unable to register for an online account at this time.
Generate and review your benefit estimate for accuracy. NEBF also mails statements every three years.
Contact NEBF immediately if you disagree with your work history. Mail or fax a letter to the NEBF office disputing the years in question. Please provide the years, name of the employer (s), the Local Union that you worked through and your job classification. A representative will research your work history once your letter is received.
For security reasons, NEBF cannot update your address over the phone. If your address is not correct, you will have to mail or fax this request form in writing with your new address and your signature. If you have an existing online account, you can update your address online.
90-120 Days Before Your Birthday or Retirement Date
The NEBF can mail an application to any address, or you can visit the union office to have one printed. Once completed and signed, the application must be mailed directly to the NEBF office—faxed or copied applications will not be accepted.

NEBF Application
Gather the required documents to submit with your application. Do not mail original documents – legible copies are acceptable. Missing documents will delay the processing of your application.

Click here for a complete list of the required documents or find the list located on the last page of the application.

  • Birth certificate/passport
  • Social Security card
  • If you are married, include your spouse’s birth certificate/passport, your marriage certificate and your spouse’s Social Security card.
  •  If you were divorced after your initiation date, a complete copy of your divorce decree(s) with any property, marital or settlement agreements.

If you are widowed, include a copy of your spouse’s death certificate.
Direct Deposit is mandatory. Your financial information should be entered on the direct deposit form included in the application. The NEBF form must be completed, and your signature is required– do not send a copy of a voided check. NEBF does not accept prepaid or trust accounts.
Your retirement date and your marital status must be completed on the application. If either is left blank, the application process will stop and NEBF will send a letter requesting this information.
At least 3 to 4 months prior to your birthday or retirement date, mail the completed application to: 2400 Research Blvd, Suite 500, Rockville, MD 20850.
Application Process
Once your application has been received and logged into the NEBF database, a letter acknowledging receipt of your application will be mailed. If you do not receive this letter within 30 days, please contact the NEBF office.
Standard processing time is 30 to 45 days for disability applications and 30 to 90 days for early/normal applications. Please allow time for processing – NEBF processes in receipt order. You can contact the NEBF office at any time to check on the status of your application.
NEBF will correspond with you directly if any additional information is required or if items are missing. They will not call you.
Any letter generated by NEBF can be uploaded to your online account for review.
NEBF checks are issued on the last business day of the month for that month.
For example: If your pension effective date is September, your check will be deposited on the last business day of September.
An approval letter will also be mailed for your records.

Summary Plan Description

Frequently Asked Questions