IBEW LOCAL 246 RETIREMENT PLAN (DEFINED CONTRIBUTION)
The Plan is a defined contribution plan and is provided through contributions made by your
employer to the Plan in accordance with the Collective Bargaining Agreement. The amount
remitted by your employer is credited to your Retirement Plan Individual Account balance.
Benefit payments under the Plan will be made to eligible Participants upon Normal or Early
Retirement, Total and Permanent Disability Retirement, Death or Termination of Employment.
The Plan’s Normal Retirement Age is 65. The Plan’s Early Retirement Age is 55.
WHEN CAN I RECEIVE PAYMENT FROM THE RETIREMENT PLAN?
In general, you and/or your Beneficiary will receive payment from your Individual Account when:
- you retire from the industry and apply for a benefit from the Plan;
- you become Totally and Permanently disabled, as determined by the Trustees, and you
have been approved for disability benefits by the Social Security Administration; - you die; or
- If you are a Participant and Local 246 records show that you have not performed work
within the jurisdiction of the Union during a one-hundred eighty (180) day period (as
verified by the records of the Union), or signed a reciprocal agreement for such period
with another local union, you then have a right to request a termination benefit. At that
time, you shall be entitled to the full value of your Individual Account.
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
