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Retirement

Nobody wants to work forever. In the IBEW, our goal is for our members to be secure in their retirement.

Pension

The NEBF is part of your benefits package. It pays $32 per month for every year you work for a union contractor.

The IBEW Pension is paid for with your monthly dues. It pays $4.50 per month for every year you are a member, whether or not you are working.

As an example, if you work 30 years in the IBEW, and keep up with your dues the whole time, you will get $36.50 x 30, or $1,095 per month for LIFE!

The pension is a defined benefit plan. No matter what happens to the stock market, you will receive the same amount every month.

Annuity

The Annuity Plan works like a 401k, except, with our annuity plan, your contributions to your annuity are optional, while your employers contributions are mandatory. For every hour you work, The employer contributes money to the employee’s annuity account IN ADDITION TO the employee’s hourly wages. You can ask your contractor to take out more if you want.

Our plan has many options for investing. It is up to you to decide how it is invested. To get started go to the Prudential website below. You will need to set up an account to get started.

Our fund advisor, Kevin Clift, is available to help you make a plan for your retirement. He can be contacted here: