HEALTH & WELFARE and PENSION BENEFITS
IEEW HEALTH & WELFARE TRUST
Administered by Rehn & Associates, P. O. Box 5433, Spokane, WA 99205 - (800) 872-8979
Participants in the IEEW Health & Welfare Trust can now go to a website to check eligibility, benefit payments and limitations and MUCH, MUCH MORE ! If you are covered under the plan, the Trust has mailed you an ID number along with website information. CLICK HERE to go to the WELLPOWER web site.
SUPPLEMENTAL BENEFIT ACCOUNT (SBA)
This is an individual account that can be used for the reimbursement of eligible out of pocket health care expenses. This plan is an additional benefit under the IEEW Health & Welfare Plan.
By law, when you go on Medicare and if there is a balance in your SBA, it will be considered your primary coverage until exhausted.
Retirees can submit a form to be reimbursed directly into their bank account for monthly premiums paid for supplmental insurance policies.
HEALTH & WELFARE DISABILITY
$400 per week for weeks 1 - 4 and $500 per week for the 5th - 26th week. Not eligible if under a Labor & Industries Claim.
You can print a summary of the retirement plans available through your membership and employment through Local Union #112. These pensions are available to "A" Members only and vary by working agreement.
Below is a brief summary of the plans available:
L. U. 112 / 73 RETIREMENT TRUST
Administered by John Hancock Retirement Services (800) 294-3575
This plan is a Defined Contribution Plan and you can choose how your retirement funds are invested.
Go go www.mylife.jhrps.com to view your account and make changes to your investmens. To view the investment returns for all investments, under FINANCIAL TOOLS, click on INVESTMENT RETURN SUMMARY.
NATIONAL ELECTRICAL 401K PLAN
Participation in this plan is optional. When choosing to particpate, you must complete the enrollment form and send to the IBEW Investment Dept. and your employer. The contribution rate is 5% of your gross wages - pre tax. Once the plan has received funds, you can go to the NEFP WEBSITE to complete your enrollment process and select your investments. If you need assistance or have questions, you can call 888-411-4239.
IBEW PENSION BENEFIT FUND
$4.50 per month for each year of membership with normal retirement at age 65. Must have 20 years of continuous membership for vesting. Benefits are available at age 62 at a reduced rate.
NATIONAL ELECTRICAL BENEFIT FUND ( NEBF)
$32.00 per month for each year of service. Must have a minimum of 300 hours per year and averge 1000 hours per year when benefit is calculated.
INLAND EMPIRE ELECTRICAL WORKERS PENSION
This plan started in the '70's and terminated in the early '80's. If you were a participant during that time and met the vesting requirements, you can draw the benefit as early as age 55 if you are retired. You will get full benefits at age 65 and if you choose to draw early, there is a 4% reduction for each year you are under age 65.
SOCIAL SECURITY BENEFITS
Learn about your Social Security Benefits. Drawing full benefits varies by age, so go to the SS website and find when you can retire early or with full benefits. Also, get informed on Medicare.
The death benefit from the International Office for "A" Member starts out at $6,250 . Once a person starts drawing retirement benefits, the benefit gradually reduces to no lower than $3,000. If death is the result of an accident, the benefit will double.
The Local Union benefit is $2,500.
If a member is covered under the Inland Empire H & W Trust at the time of death, there is a $5,000 benefit and $10,000 if death is due to an accident.
BE SURE TO KEEP YOUR BENEFICIARIES UP TO DATE ON FILE WITH ALL PLANS !
Page Last Updated: Sep 21, 2022 (09:46:57)