Retirement Plans

Our Members (Employees) are provided superior retirement plans.

There are currently three retirement incomes for those retiring with the IBEW/NECA Program.

Upon Retirement, one plan (NEBF National Electrical Benefit Fund) pays the retiree $32 per month for each year they worked within our program anywhere! This plan does NOT cost the worker.

Upon Retirement, a second plan (Southern Retirement) also allows one to accumulate a substantial retirement fund. Under this plan the Employer pays a predetermined amount into a personal plan at NO cost to the participating member.

Beginning the fourth year, for Apprentices who have at least 5,000 work hours, the Employer pays half the amount paid for Journeyman employees. The rate is increased to equal the Journeyman contribution rate when one graduates the apprenticeship program. Again, there is no out of pocket cost to the worker.

Upon Retirement, a third plan (IBEW) provides the retiree $4.50 per month for each year they paid union dues to the IBEW. Over the years, many retirees have drawn more in retirement than dues cost them over their career. One is required to pay dues to obtain this coverage. The cost is approximately 25 cents per hour.

A Fourth Income at retirement is, of course, Social Security Benefits which is a monthly rate based on prior earnings. The more paid in over the years of work results in a higher retirement income. The higher your earnings during your working life, the higher your monthly income. A Journeyman receives over $25 per hour which will ensure a much higher SS income upon retirement compared to one earning less.

The IBEW/NECA Programs offer much to help retirees maintain a more comfortable income upon retirement. Check it out and investigate when looking for a career in the Electrical Construction Trade. Discover for yourself what employers have to offer in the way of health insurance and retirement plans. You will discover we earn great benefits. We claim our wages and benefits are superior, unhidden and predetermined. We suggest, any one with interest in the trade investigate your options to know what you are going to receive during your working life and into your retirement. We think we know what you will discover.