.png)
RETIREMENT
"The only person who will take care of your older you someday, is the younger you today." - unknown
The news is full of stories about hard working people who are not able to save for their retirement. Union members have diversified retirement programs that are protected by law.
​
Employer Paid Annuity
-
11% per hour above your gross wage is paid in on your behalf
-
Managed fund, protected by law
-
After just 20 years your individual retirement account could have around $200,000 in it (based on typical employment)
​
National Electrical Benefit Fund
-
NEBF is equal to $32 per month multiplied by years of service.
-
After just 20 years you can earn $640 per month
​
IBEW Pension Benefit Fund
-
A second pension fund comes from monthly dues payments
-
$4.50 per month multiplied by years of service.
-
After just 20 years you could receive an additional $90 per month
-
This fund pays back all the dues you paid during your career in a short few years.
​
Discuss these retirement programs with a representative from the union for a detailed understanding of historic returns and plan rules.
​