Retirement Benefits
Empowering IBEW Local 212 Members with Comprehensive Resources
NEBF – PBF – NEAP – NEFP
Introduction to the
National Electrical Benefit Fund
What is the National Electrical Benefit Fund (NEBF)?
The National Electrical Benefit Fund (NEBF) is a Taft-Hartley, multiemployer, defined benefit pension plan established in 1946. It was created through an agreement between the International Brotherhood of Electrical Workers (IBEW) and the National Electrical Contractors Association (NECA) to provide retirement benefits to employees in the electrical industry.
Vesting
To become vested, you need to accumulate five vesting service credits or reach age 65 with earned pension credits. Once vested, you have a non-forfeitable right to your pension benefits.
Additional Information
For more information or to manage your benefits online, you can visit the NEBF Official Website. The website offers tutorials, forms, and the latest updates regarding the NEBF.
By participating in the NEBF, you secure a stable retirement benefit, providing peace of mind for you and your family as you plan for the future. For any specific questions or to understand how the plan applies to your unique situation, reaching out to the NEBF office is strongly encouraged.
Phone: 301-556-4300
Website: NEBF Official Website
Plan Details
Address: 2400 Research Boulevard, Suite 500, Rockville, MD 20850-3266
Phone: 301-556-4300
Fax: 301-556-0100
Website: NEBF Official Website
Administration
The Plan is administered by the Board of Trustees consisting of IBEW Appointed Trustees from Labor, and NECA Appointed Trustees from Management.
Plan Funding
The plan is funded by employer contributions as stipulated in the collective bargaining agreement. Contributions are held in trust under the NEBF Pension Fund Agreement and Declaration of Trust. Participants do not make direct contributions to the plan. Covered employers contribute 3% of the gross labor payroll each month on behalf of their employees.
Applying for Benefits
To apply for NEBF benefits, you must complete the necessary application forms and submit them to the NEBF office. It is recommended to contact the NEBF office or visit the NEBF website for detailed instructions and to access the required forms.
A quick guide to the NEBF Pension application
how it works
1
Plan Ahead
Timing: You should begin the application process at least 90 days before your desired retirement date and no more than 180 days prior.
Communication: Reach out to the Fund Office or the Union Hall to know more.
NEBF Office: (513) 861-4800
Union Hall: (513) 559-0200
Plan Documents, Forms and Tutorials | NEBF
NEBF Participant Pension Application
Request: Ask for the necessary application form to start your retirement benefits.
2
Required Documentation
The Application Process will inform you of any required documents needed, which may include:
- Birth certificate
- Marriage license (if applicable)
- Divorce Decree
- Other identification or relevant documents.
3
Application Submission
Forms: Fill out the application forms provided by the Fund Office.
Documentation: Attach all required documents, such as your birth certificate or marriage license.
Submission: Return the completed application and all necessary documents to the Fund Office.
Processing: The Fund Office will review your application and notify you if additional information is needed.
Contact: NEBF Office 301-556-4300.
4
Payment Options
Forms of Payment: Review the optional forms of benefits available, such as the Qualified Joint & Survivor Annuity.
Election: Make your election in writing on the forms provided by the Fund Office. This election can be made up to 180 days before your pension starts.
Commit: Confirm your chosen form of payment and ensure all forms are properly completed and submitted.
5
Final Status
Bank Information: Provide the Fund Office with a completed Direct Deposit authorization form to have your monthly pension payments deposited directly into your bank account.
Notification: The Fund Office will notify you about the status of your application within a reasonable time period.
Approval: If your application is approved, you will receive details about the start of your payments. If denied, you will be informed of the reasons and the process to appeal the decision.
6
Get Assistance
National Electrical Benefit Fund
Plan Administrator: NEBF
Address: 2400 Research Boulevard, Suite 500, Rockville, MD 20850-3266
Phone: 301-556-4300
Website: NEBF Official Website
Introduction to the
Pension Benefit Fund
Pension Benefit Fund (PBF) Overview
The IBEW Pension Benefit Fund (PBF) is a defined benefit plan established by the International Brotherhood of Electrical Workers. The PBF provides pension benefits to its members to ensure financial security in their retirement years. The plan is administered by the International Secretary-Treasurer (IST) of the IBEW and is governed by the IBEW Constitution.
Vesting
To become vested, you need to accumulate five vesting service credits or reach age 65 with earned pension credits. Once vested, you have a non-forfeitable right to your pension benefits.
Pension Benefits
Normal Pension:
An “A” member with continuous good standing for five or more years who has reached the age of 65 is eligible for a normal pension.
The benefit is calculated at $4.50 per month for each year of continuous “A” membership up to 2022, and $5.50 per month for each year from 2023 onwards.
Members whose benefits amount to $30.00 or less will receive a one-time lump sum payment.
Optional Early Retirement Pension:
Available to “A” members aged 62 with at least 20 years of continuous good standing.
The pension is reduced by 6 2/3% for each year the member is under 65 at retirement.
Disability Pension:
For “A” members who are totally disabled and have at least 20 years of continuous good standing.
Benefits are $4.50 per month per year of membership up to 2022, and $5.50 per month from 2023.
Optional Spouse’s Benefit:
Retired members may elect to receive a reduced pension that continues to pay half to their spouse after their death.
Vested Pension:
Members with 20 years of continuous “A” membership who leave the electrical industry before age 65 can apply for a vested pension, payable at age 65.
Death Benefits:
Upon the death of an “A” member, a death benefit is payable to the named beneficiary.
The benefit amounts to $6,250 for natural causes and $12,500 for accidental death for non-retired members with at least six months of good standing.
For retired members, the benefit is $6,250 minus any pension benefits paid, with a minimum of $3,000.
Plan Details
Address: 900 Seventh Street, NW, Washington, DC 20001
Phone: (202) 833-7000
Website: IBEW > Pension & Reciprocity
Administration
Plan trustees include the International President, International Secretary-Treasurer (IST), and members of the International Executive Council of the IBEW.
The PBF is regulated by ERISA in terms of reporting, disclosure, fiduciary responsibility, and enforcement but is not covered by the Pension Benefit Guaranty Corporation.
For more detailed information, members can access the full Summary Plan Description (SPD) and other governing documents at the plan administrator’s office or through their local union.
Eligibility and Contributions
To participate in the PBF, members must maintain active “A” membership status, which requires the payment of monthly dues, with $21.00 directed specifically to the PBF. Scheduled increases adjust these amounts in the coming years:
- Effective 7/1/2024: $23.00 to the PBF
- Effective 1/1/2025: $23.00 to the PBF
- Effective 7/1/2025: $23.00 to the PBF
Important Conditions
Members must maintain good standing by staying current with dues payments.
Members who transfer to “BA” status or are delinquent in dues for more than six months lose eligibility.
Pension benefits can be suspended if a member returns to work in the electrical industry, except as an instructor or inspector in an IBEW-recognized program.
Applying for Benefits
To apply for PBF benefits, you must complete the necessary application forms and submit them to the PBF office. It is recommended to contact the Local 212 Office for detailed instructions and to access the required forms.
A quick guide to the PBF Pension application
how it works
1
Plan Ahead
Timing: You should begin the application process at least 90 days before your desired retirement date and no more than 180 days prior.
Communication: Reach out to the Fund Office or the Union Hall to know more.
PBF Office: (202) 833-7000
Union Hall: (513) 559-0200
Request: Ask for the necessary application form to start your retirement benefits.
2
Required Documentation
The Application Process will inform you of any required documents needed, which may include:
- Birth certificate
- Marriage license (if applicable)
- Divorce Decree
- Other identification or relevant documents.
3
Application Submission
Forms: Fill out the application forms provided by the Fund Office.
Documentation: Attach all required documents, such as your birth certificate or marriage license.
Submission: Return the completed application and all necessary documents to the Fund Office.
Processing: The Fund Office will review your application and notify you if additional information is needed.
Contact: PBF Office (202) 833-7000.
4
Payment Options
Forms of Payment: Review the optional forms of benefits available, such as the Qualified Joint & Survivor Annuity.
Election: Make your election in writing on the forms provided by the Fund Office. This election can be made up to 180 days before your pension starts.
Commit: Confirm your chosen form of payment and ensure all forms are properly completed and submitted.
5
Final Status
Bank Information: Provide the Fund Office with a completed Direct Deposit authorization form to have your monthly pension payments deposited directly into your bank account.
Notification: The Fund Office will notify you about the status of your application within a reasonable time period.
Approval: If your application is approved, you will receive details about the start of your payments. If denied, you will be informed of the reasons and the process to appeal the decision.
6
Get Assistance
Pension Benefit Fund
Plan Administrator: Pension Benefit Fund
Address:
900 Seventh Street, NW,
Washington, DC 20001
Phone: (202) 833-7000
Website: IBEW > Pension & Reciprocity
Introduction to the
National Electrical Annuity Plan
National Electrical Annuity Plan Overview
The National Electrical Annuity Plan (NEAP) is a defined contribution plan established in 1973 to provide retirement and related benefits to employees in the electrical industry. Initially named the IBEW — District Ten — NECA Individual Equity Retirement Plan, it was renamed NEAP in 1994. NEAP is designed to help participants accumulate retirement savings through employer contributions, offering a range of benefits including withdrawal, disability, retirement, and death benefits.
Participation and Vesting
You become a participant in NEAP after working 160 hours in covered employment within a period starting from your first day of covered employment to December 31 of the following year.
You remain a participant as long as there is a balance in your Individual Account. If the balance is completely withdrawn, participation ends but can resume if you return to covered employment and meet the eligibility requirements again.
You are vested after working the required 160 hours within the specified period, ensuring you are entitled to the benefits of NEAP, regardless of your employment status thereafter.
Types of Benefits
Withdrawal Benefit: Allows participants to withdraw funds from their Individual Account under qualifying conditions.
Disability Benefit: Provides benefits if a participant becomes disabled and unable to continue working in covered employment.
Retirement Benefit: Available upon reaching the normal retirement age of 55, offering various payout options including lump-sum distributions and annuities.
Death Benefit: Provides a benefit to the participant’s designated beneficiaries in the event of their death.
Applying for Benefits
To apply for NEAP benefits, you must complete the necessary application forms and submit them to the NEAP office. Contact the Local 212 Office for detailed instructions and to access the required forms.
NEAP: 301-556-4300
Fax: 301-556-0100
Website: NEAP Official Website
Plan Details
Address: 900 Seventh Street, NW, Washington, DC 20001
Phone: 301-556-4300
Website: NEAP Official Website
Administration
The NEAP Annuity Fund is administered by a Board of Trustees consisting of representatives from both the International Brotherhood of Electrical Workers (IBEW) and the National Electrical Contractors Association (NECA). The Trustees are responsible for overseeing the management and operation of the fund, ensuring that it is managed in accordance with the plan’s guidelines and federal regulations. They make decisions on investments, benefits, and overall strategy to ensure the financial health and stability of the fund
Important Considerations
NEAP benefits and rules can change, and it’s important to stay updated. Before making decisions like retirement, contact the NEAP office for the most current information .
Quarterly statements are provided to participants, detailing the contributions made and the investment performance of their Individual Account .
Special provisions apply in case of a Qualified Domestic Relations Order (QDRO) due to divorce, where NEAP may be directed to pay a portion of benefits to a former spouse .
Investment Options
Life Stage Fund Program:
NEAP offers a Life Stage Fund program with five funds tailored to different age groups: Under 30s, 30s, 40s, 50s, and 60s Plus. This program automatically adjusts the investment strategy based on the participant’s age to balance growth and asset preservation .
Participants can choose between the Automatic Option, which automatically enrolls them in the appropriate fund based on their age, or the Select Option, where they manually select a fund. The Select Option requires active management and consultation with a financial advisor to ensure it meets the participant’s needs .
A quick guide to the National Electrical Annuity Plan
how it works
1
Plan Ahead
Timing: You should begin the application process at least 90 days before your desired retirement date and no more than 180 days prior.
Communication: Reach out to the Fund Office or the Union Hall to know more.
NEAP: 301-556-4300
Union Hall: (513) 559-0200
Website: NEAP Official Website
Request: Ask for the necessary application form to start your retirement benefits.
2
Required Documentation
The Application Process will inform you of any required documents needed, which may include:
- Birth certificate
- Marriage license (if applicable)
- Divorce Decree
- Other identification or relevant documents.
3
Application Submission
Forms: Fill out the application forms provided by the Fund Office.
Documentation: Attach all required documents, such as your birth certificate or marriage license.
Submission: Return the completed application and all necessary documents to the Fund Office.
Processing: The Fund Office will review your application and notify you if additional information is needed.
NEAP: 301-556-4300
4
Payment Options
Forms of Payment: Review the optional forms of benefits available, such as lump sum, monthly annuity, or rollovers.
Election: Make your election in writing on the forms provided by the Fund Office. This election can be made up to 180 days before your pension starts.
Commit: Confirm your chosen form of payment and ensure all forms are properly completed and submitted.
5
Final Status
Bank Information: Provide the Fund Office with a completed Direct Deposit authorization form to have your monthly pension payments deposited directly into your bank account.
Notification: The Fund Office will notify you about the status of your application within a reasonable time period.
Approval: If your application is approved, you will receive details about the start of your payments. If denied, you will be informed of the reasons and the process to appeal the decision.
6
Get Assistance
Address:
2400 Research Boulevard, Suite 500,
Rockville, MD 20850-3266
Phone: 301-556-4300
Fax: 301-556-0100
Website: NEAP Official Website
Introduction to the
National Electrical 401k Plan
NEFP 401(k) Fund Overview
The National Electrical 401(k) Plan (NEFP) is a valuable retirement savings option offered to members of the International Brotherhood of Electrical Workers (IBEW) Local 212. This page provides an overview of the key features and benefits of the NEFP 401(k) plan, helping members make informed decisions about their retirement savings.
Key Features of the NEFP 401(k) Plan
Voluntary Participation: Participation in the NEFP 401(k) plan is voluntary, allowing members to choose whether to defer part of their salary into this retirement savings plan.
Tax-Deferred Contributions: Contributions made to the NEFP 401(k) plan are tax-deferred, meaning that they are not included in your federal taxable income at the time of contribution. Taxes on these contributions and any investment earnings are deferred until the funds are distributed.
Employer Contributions: The plan is primarily funded through employee contributions. No employer contributions are required or accepted under the terms of the agreement.
How to Enroll
Eligibility: You are eligible to participate in the NEFP 401(k) plan from the day you become an employee of a covered employer.
Enrollment Process: To enroll in the plan, visit the NEFP website (www.nefp.org) and follow the instructions to fill out and submit the enrollment form. This will direct you to the BeneSys site, where you can complete your enrollment.
Making Contributions: Once enrolled, you can elect to make tax-deferred contributions by specifying either a percentage of your compensation or a specific monetary amount. Contributions will be deducted from your paycheck and deposited into your NEFP account.
Applying for Benefits
Distribution of Benefits:
Members can receive a distribution of their account balance under several circumstances, including retirement at age 59 1/2, termination of employment, or upon meeting certain other conditions such as disability.
Phone: 301-556-4304
Fax: 301-556-0100
Website: NEFP Participant Login
Plan Details
National Electrical 401(k) Plan
Address: 2400 Research Boulevard, Suite 500, Rockville, MD 20850
Phone: 301-556-4304
Fax: 301-556-0100
Website: NEFP Participant Login
Administration
BeneSys, Inc. serves as the third-party administrator for the NEFP 401(k) plan, providing participant enrollment, contribution processing, and other administrative services:
Website: Benesys Account Creation
Phone: 888-292-6406
Empower Retirement, officially known as Empower Annuity Insurance Company of America, is the record keeper and provider of investment options for the NEFP 401(k) plan.
Phone: 877-778-2100
Important Considerations
Vested Interest:
Participants are fully vested in their contributions, meaning they own 100% of the funds in their account, including both their contributions and any earnings on those contributions.
Rollover Contributions:
The NEFP 401(k) plan allows for direct and indirect rollovers from other qualified retirement plans, enabling members to consolidate their retirement savings into one account.
Monitoring and Managing Your Account:
Members can monitor and manage their NEFP 401(k) accounts online at any time. This includes checking account balances, transferring funds, and requesting withdrawals.
Investment Options
Members have the flexibility to choose from a range of investment options provided by Empower Retirement, the plan’s record keeper. This includes the ability to change investment elections and transfer funds between different investment options through the NEFP website.
Websites:
A quick guide to the National Electrical Annuity Plan
how it works
1
Plan Ahead
Timing: You should begin the application process at least 90 days before your desired retirement date and no more than 180 days prior.
Communication: Reach out to the Fund Office or the Union Hall to know more.
NEFP: 301-556-4304
Union Hall: (513) 559-0200
Website: NEFP Participant Login
Request: Ask for the necessary application form to start your retirement benefits.
2
Required Documentation
The Application Process will inform you of any required documents needed, which may include:
- Birth certificate
- Marriage license (if applicable)
- Divorce Decree
- Other identification or relevant documents.
3
Application Submission
Forms: Fill out the application forms provided by the Fund Office.
Documentation: Attach all required documents, such as your birth certificate or marriage license.
Submission: Return the completed application and all necessary documents to the Fund Office.
Processing: The Fund Office will review your application and notify you if additional information is needed.
NEFP: 301-556-4304
Website: NEFP Participant Login
4
Payment Options
Forms of Payment: Review the optional forms of benefits available, such as lump sum, monthly annuity, or rollovers.
Election: Make your election in writing on the forms provided by the Fund Office. This election can be made up to 180 days before your pension starts.
Commit: Confirm your chosen form of payment and ensure all forms are properly completed and submitted.
5
Final Status
Bank Information: Provide the Fund Office with a completed Direct Deposit authorization form to have your monthly pension payments deposited directly into your bank account.
Notification: The Fund Office will notify you about the status of your application within a reasonable time period.
Approval: If your application is approved, you will receive details about the start of your payments. If denied, you will be informed of the reasons and the process to appeal the decision.
6
Get Assistance
Address:
2400 Research Boulevard
Suite 500, Rockville, MD 20850
Phone: 301-556-4304
Fax: 301-556-0100
Website: NEFP Participant Login